SREFPL targets 800% growth in Rajasthan

JAIPUR: Srei Equipment Finance Private Limited (SEFPL), a 50:50 joint venture between Srei Infrastructure Finance (SIFL) and BNP Paribas Lease Group, is planning to finance Rs 500 crore in infrastructure projects in Rajasthan.

SEFPL chief executive officer D K Vyas told ET that the company has identified Rajasthan as a high growth market.

“We are expecting 800% growth in our portfolio in the state. We had funded around Rs 60 crore in various infrastructure projects last year. As of now we have financed around Rs 200 crore and expect to end this fiscal at Rs 500 crore as the state is likely to attract huge investment in infrstructure projects,” he said.

The company is scaling up its operation in the state. It will take the number of offices to seven from two by the end of this fiscal. “We are betting big on projects including road, power, cement, lignite mining, coal bed methane and blue metal. In any infrastructure project, infrastructure equipment forms 45% of the project cost,’ he said.

The company enjoys a market share of 32% market share in the $7 billion Indian equipment finance market. “We expect a total disbursal of worth Rs 7,500 crore across the country in 2009-10 as against Rs 5,000 crore last year.