+
IIFCL Aims To Double Lending to Rs 1 Tn in Three Years: Jaishankar
ECONOMY & POLICY

IIFCL Aims To Double Lending to Rs 1 Tn in Three Years: Jaishankar

PR Jaishankar, Managing Director of India Infrastructure Finance Company Limited (IIFCL), has set an ambitious target to double the company's lending to Rs 1 trillion within the next three years.

Speaking on the company's performance, he remarked, "Our disbursement is all about 150 billion. So our balance sheet today stands with a total size of about 800 billion, with loan books around 700 billion. So we would like to look at how we first achieve one trillion during the next few months itself, and then go to double it within the next three years."

Jaishankar attributed the robust state of the infrastructure sector to the government's proactive reforms and financial initiatives."The infrastructure stands at this robust position only because of the government's major push, both as major financiers and the push for reforms, propelling reforms, all have been, you know, at the government's, you know, initiatives. So the current budget also, we have the same optimistic expectations," he said.

He added that the sector is entering a transformative phase."We are entering the new age of infrastructure, version 2.0 with focus on digitally driven infrastructure, with focus on sustainability resilience and more on commercial viability and better risk management systems, better monitoring systems and better due diligence," he noted.

Reflecting on improvements in the sector's financial health, Jaishankar praised the decline in non-performing assets (NPAs), which have drastically reduced.

"NPAs had, during 2011-2010, it used to be around 36 per cent for the banking sector, which has now come down substantially because of the government's initiative and push and so many reforms have been there," he said. Highlighting IIFCL's own achievements, he stated, "We have reduced our NPA to less than 0.5 per cent today. So our NPAs used to be around 20 per cent about four or five years ago; we are now less than 0.5 per cent."

Discussing project lending, he emphasised the safeguards in place to ensure transparency and efficiency. "Project lending always has been very, very safe, and it has been full of good governance structure, good risk management system, good accounting policy, above all, good due diligence process," he said.

He credited the system's improvement to consortium-based financing, where multiple banks and committees scrutinize projects. "Infrastructure as a whole, seems to be the safest sector today to lead," he concluded

PR Jaishankar, Managing Director of India Infrastructure Finance Company Limited (IIFCL), has set an ambitious target to double the company's lending to Rs 1 trillion within the next three years. Speaking on the company's performance, he remarked, Our disbursement is all about 150 billion. So our balance sheet today stands with a total size of about 800 billion, with loan books around 700 billion. So we would like to look at how we first achieve one trillion during the next few months itself, and then go to double it within the next three years. Jaishankar attributed the robust state of the infrastructure sector to the government's proactive reforms and financial initiatives.The infrastructure stands at this robust position only because of the government's major push, both as major financiers and the push for reforms, propelling reforms, all have been, you know, at the government's, you know, initiatives. So the current budget also, we have the same optimistic expectations, he said. He added that the sector is entering a transformative phase.We are entering the new age of infrastructure, version 2.0 with focus on digitally driven infrastructure, with focus on sustainability resilience and more on commercial viability and better risk management systems, better monitoring systems and better due diligence, he noted. Reflecting on improvements in the sector's financial health, Jaishankar praised the decline in non-performing assets (NPAs), which have drastically reduced. NPAs had, during 2011-2010, it used to be around 36 per cent for the banking sector, which has now come down substantially because of the government's initiative and push and so many reforms have been there, he said. Highlighting IIFCL's own achievements, he stated, We have reduced our NPA to less than 0.5 per cent today. So our NPAs used to be around 20 per cent about four or five years ago; we are now less than 0.5 per cent. Discussing project lending, he emphasised the safeguards in place to ensure transparency and efficiency. Project lending always has been very, very safe, and it has been full of good governance structure, good risk management system, good accounting policy, above all, good due diligence process, he said. He credited the system's improvement to consortium-based financing, where multiple banks and committees scrutinize projects. Infrastructure as a whole, seems to be the safest sector today to lead, he concluded

Related Stories

Gold Stories

Next Story
Infrastructure Urban

BMW Ventures Secures Rs 249.83 Million (mn) Steel Orders

BMW Ventures Limited said it has secured two purchase orders totalling Rs 249.83 million (mn) from Lata Projects Limited for the supply of TMT steel FE-550D grade for three units of 800 megawatt (MW) capacity at the USCTPP Adani project. The orders were disclosed to the stock exchanges under Regulation 30 of the SEBI Listing Regulations and carry a contract value inclusive of all taxes.\n\nThe company stated that the orders will be executed within eight weeks from the date of the purchase orders and that the contract provides for 100 per cent advance payment with specified guarantees. The supp..

Next Story
Real Estate

Housing Sales Dip in Top Eight Cities in Q2, Pune and Bengaluru Hit Hard

Housing sales across the top eight cities fell six point one per cent year-on-year to 91,729 units in the April-June quarter from 97,674 a year earlier, PropTiger’s Real Insight Residential report showed. The moderation reflected seasonal pre-monsoon effects and heightened buyer caution amid the US-Iran conflict. New launches rose six per cent to 89,161 units. The impact was concentrated in technology-driven markets, with Pune and Bengaluru among the hardest hit. Pune recorded the steepest annual decline at 20.8 per cent, with sales falling to 12,642 units, while Ahmedabad declined 20.2 per ..

Next Story
Infrastructure Urban

India And ADB Sign US$230 Million Loan To Modernise Chennai Water

The Government of India and the Asian Development Bank (ADB) signed a US$230 million loan to modernise and expand water supply and sanitation infrastructure in Chennai. Saurabh Singh, Deputy Secretary, Department of Economic Affairs (DEA), signed on behalf of the Government of India and Mio Oka, Country Director of ADB’s India Resident Mission, signed for the lender. The engagement was guided by Baldeo Purushartha, Joint Secretary (ADB and Japan), DEA. The Chennai Climate-Resilient Water Security and Sewerage Project aims to improve access to safe and reliable water and sanitation citywide w..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code