With the Indian GDP expected to grow at 10 per cent in the near future, it is imperative that the infrastructure industry grows at 12 to 13 per cent. In such challenging times, bC India will offer the perfect platform, displaying advancement and development in the construction and building machinery industry.
The 50:50 JV partners " Srei Infrastructure Finance and BNP Paribas " plan to invest Rs 100 crore each to expand Srei Equipment Finance. This will increase the networth of Srei Equipment to Rs 1,667 crore. The equipment finance business, which grew by close to 50 per cent last year, is likely to grow by 25 per cent this year.
In their 50:50 JV company, Srei Equipment Finance, Srei Infrastructure Finance and BNP Paribas have invested close to Rs 200 crore worth of equity. The equity infusion will take the net worth of Srei Equipment Finance to over Rs 1,660 crore.
Srei BNP Paribas is amongst the largest NBFCs in India, with sectoral focus on infrastructure. Highlighting issues within this sector, DK Vyas, Chief Executive Director, Srei BNP Paribas also talks on the company's equipment finance division in conversation with Shriyal Sethumadhavan.
Barjeel Geojit Securities (BGS), a joint venture between UAE-based Sheikh Sultan bin Saud Al Qassemi and India-based Geojit BNP Paribas Financial Services is all set to launch a real estate brokerage firm, an official said. This new entity will facilitate clients to buy and sell properties in the UAE and India, Sheikh Sultan bin Saud Al Qassemi, Chairman of BGS said on April 22.
A pioneer in many ways, Srei Infrastructure Finance Ltd (SIFL) is among the first Indian NBFCs to access the international market for funds and the first Indian infrastructure NBFC to be listed on the London Stock Exchange.
Srei BNP Paribas, which specialises in infrastructure and construction equipment financing, has announced a hike in its benchmark rate by 25 basis points, from 17.75 per cent to 18 per cent. The Company's Asset Liability Management Committee took this decision after reviewing the cost of borrowing. This has been necessitated because of the continuing increase in borrowing cost due to market and regulatory factors.
While issues related to banking and financing, claims and contracts continue to discourage contractors, CW highlights problem areas and offers 16 concrete solutions that will help resolve issues and make the construction sector a success.