IIFCL provides Rs 8,559 cr loans to 32 Infra projects in FY'08
India Infrastructure Finance Company on Friday said it has provided a total financial assistance of Rs 8,559 crore to 32 projects in 2007-08.
By PTI |
MUMBAI: India Infrastructure Finance Company on Friday said it has provided a total financial assistance of Rs 8,559 crore to 32 projects in 2007-08.
The company's profit after tax rose by about three fold in FY'08 to Rs 14.10 crore from Rs 3.47 crore in the year ago period, the company said in a statement.
IIFCL has signed memorandums of understanding with 24 banks and institutions for creating deal flows, appraisal, loan syndication and other financial services.
IIFCL's UK subsidiary, IIFC (UK), which commenced operations in last month, would be borrowing foreign currency funds from the Reserve Bank to lend to Indian companies engaged in development of infrastructure, it said.
Companies can use this fund to meet their capital expenditure for imports, solely for expenditure outside India, the company said.
Since its inception, IIFCL has provided financial assistance of Rs 16,969 crore to 78 infrastructure projects, the statement said.
Of the total 78 projects, 65 projects have achieved financial closure and documents have been signed while disbursements of Rs 1,684 crore have been made in 45 projects, it said.
The company's profit after tax rose by about three fold in FY'08 to Rs 14.10 crore from Rs 3.47 crore in the year ago period, the company said in a statement.
IIFCL has signed memorandums of understanding with 24 banks and institutions for creating deal flows, appraisal, loan syndication and other financial services.
IIFCL's UK subsidiary, IIFC (UK), which commenced operations in last month, would be borrowing foreign currency funds from the Reserve Bank to lend to Indian companies engaged in development of infrastructure, it said.
Companies can use this fund to meet their capital expenditure for imports, solely for expenditure outside India, the company said.
Since its inception, IIFCL has provided financial assistance of Rs 16,969 crore to 78 infrastructure projects, the statement said.
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The 78 projects are spread across 19 cities and involve a total project cost of Rs 1,18,703 crore, IIFCL's Chairman and Managing Director S S Kohli said in the statement. Of the total 78 projects, 65 projects have achieved financial closure and documents have been signed while disbursements of Rs 1,684 crore have been made in 45 projects, it said.
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