IIFCL holds stakeholders meet in Hyd on infra challenges
IIFCL reported an all-time high financial performance, with cumulative sanctions and disbursements of Rs 2,13,378 crore and Rs. 1,05,647 crore as of March 31, 2023, respectively
Hyderabad: India Infrastructure Finance Company Limited (IIFCL), a government of India enterprise that offers cutting-edge financial solutions to all sub-sectors of the infrastructure sector in India, organised the Stakeholders Meet on May 25, 2023 in Hyderabad. The event hosted eminent delegates from the infrastructure and finance sectors joined by PR Jaishankar, Managing Director, Pawan K. Kumar, Deputy Managing Director, and other IIFCL officials.
As part of its strategic initiatives, IIFCL held its second series of stakeholders meetings in Hyderabad, following a successful meeting held in Chennai on May 19, 2023. The company has always been committed to supporting the government’s vision towards country’s infrastructure growth by ensuring adequate and innovative financing for viable infrastructure projects. With this regard, the meeting provided a platform for industry leaders to share their insights and discuss the current landscape of infrastructure. The objective of the meeting was to enable stakeholders to collaborate on strategies for addressing infrastructure challenges with a focus on developing effective solutions.
The participation and active engagement of the eminent infrastructure stakeholders demonstrated their ongoing commitment towards investing in the development of infrastructure in the country.
In Telangana, IIFCL has provided finance to about 30 infrastructure projects with a total project outlay of Rs 40,017 crore. GMR Hyderabad-Vijayawada Expressways Private Limited, HKR Roadways Ltd., GMR Hyderabad International Airport Limited, L&T Metro Rail (Hyderabad) Ltd., Warora Kurnool Transmission Limited, and Telangana Super Speciality Hospitals Corporation Limited (TSSHCL) to name a few marquee projects in the state.
IIFCL reported an all-time high financial performance, with cumulative sanctions and disbursements of Rs 2,13,378 crore and Rs. 1,05,647 crore as of March 31, 2023, respectively. The company's Standalone Profit after Tax (PAT) increased by 109.16 per cent year on year to Rs. 1,076 crore in FY2022-23 (up from Rs 514 crore in FY22), extending the company's three-year turnaround record.
In FY 2022-23, the company's Net Worth increased to Rs 12,878 crore, up from Rs. 11,737 crore in FY 2021-22. As of March 31, 2023, IIFCL has improved its asset quality and achieved a considerable decline in Net NPA to 1.41% (down from 3.65% the previous year) and Gross NPA to 4.76% (down from 9.23% the last year).
IIFCL is the only government-owned financial institution that caters to all infrastructure sub-sectors through its various products, viz, Direct Lending, Takeout Finance, Credit Enhancement, InvITs, Infrastructure Bonds and Refinances to Banks along with other eligible financial institutions for their loans to infrastructure projects. IIFCL also provides inputs and policy support in infrastructure financing space to the Government through various forums.
The company provides long-term finance to viable infrastructure projects encompassing various financial solutions to adopt best practices in financing infrastructure and developing core competencies in facilitating infrastructure development. The company has the mandate to finance greenfield and brownfield projects through products like Direct Lending, Takeout Finance, Subordinate Debt, Credit Enhancement Guarantee, Refinance, and InvITs. IIFCL has been working on a vision to provide innovative financing solutions to promote and develop world-class infrastructure in India.