Srei Infra Finance reports Rs 3.8k cr losses in Q3

16 Feb 2021 Editorial Team

Equipment financing company Srei Infrastructure Finance reported a consolidated net loss of Rs 3,810.93 crore in the third quarter (Q3) of the current financial year (FY) on account of higher and accelerated provisioning.

Srei had reported a net profit of Rs 60 crore in the year-ago period. During the quarter ended September, it had reported a net profit of Rs 4.72 crore.

The company’s consolidated total income during the quarter ended December, fell to Rs 484.35 crore from Rs 1,418.20 crore in the year-ago period.

Its consolidated assets under management stood at Rs 41,298 crore compared to Rs 45,157 crore at the end of December 2019.

Make in Steel 2021

24 February

Click for event info

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Hemant Kanoria, Chairman of Srei, said the company had recently moved the National Company Law Tribunal to pay all creditors in an orderly manner. Srei recently decided to freeze interest payment and redemption of non-convertible debentures and was granted relief with a moratorium order by the tribunal. The focus during this quarter and in the next few ones, Kanoria said, would be to get recoveries from clients so that the creditors can be paid as per the scheme.

In January 2021, State Bank of India (SBI) had commissioned a forensic audit on Srei Equipment Finance Ltd's previous five years’ financials, amid deteriorating business conditions and fund diversion allegations.

As we have reported before, the Reserve Bank of India (RBI) had initiated a special audit of Srei and its subsidiary, Srei Equipment Finance last year. The higher provisioning comes on the back of RBI's audit into the company.

Image: The consolidated total income of Srei has been falling consistently since last year.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..