Srei Infrastructure Finance Ltd, will persuade the Centre to ask the Reserve Bank of India (RBI) to further relax norms for external commercial borrowings (ECBs), which will help it raise Rs 4,500 crore from the market to support a total business of Rs 7,500 crore this year against Rs 6,620 crore in 2008-09.
SREI, at the end of the 2008-09, had assets worth of Rs 9,697.67 crore under its control, which increased from Rs 6,202.27 crore in 2007-08, a growth by 56%.
Hemant Kanoria, chairman and managing director, said with the new government calling for greater investment in infrastructure, SREI expects to do good business in 2009-2010. After the economic meltdown in October 2008, ?as a strategy we slowed down disbursements by design and choice so that we can bring about a check in NPAs (non performing assets),? Kanoria said. In the first six months of 2008-09, SREI registered a growth of 61% in its business and felt that it was in a position to register 60% growth this fiscal against a year on year growth of 40%. But finally the fiscal ended with a 15.39% business growth.
