IIFCL Addressed The Infrastructure Stakeholder On Industry Challenges
~ IIFCL’s innovative financial solutions hold an instrumental role in promoting GoI’s mission to develop Indian infrastructure
Chennai, May 19, 2023: India Infrastructure Finance Company Limited (IIFCL), a Govt. of India Enterprise, providing innovative financial solutions to all sub-sectors of the infrastructure industry in India organised the ‘Stakeholders Meet’ in Chennai on May 19, 2023. The event witnessed Mr. P. R.Jaishankar, Managing Director, IIFCL, Mr. Pawan K. Kumar, Deputy Managing Director, IIFCL along with other IIFCL officials and various eminent stakeholders from the infrastructure and finance sector.
The objective of the meeting was to have an interactive session to discuss the challenges faced by infrastructure developers, bankers, and government authorities in broad sectors of roads & highways, railways, airports, shipping, and energy. The meeting intended to act as a platform to bridge the gap between the infrastructure financiers and developers, while catering to the current industry scenario with substantial and effective solutions.
The discussion was centered on exchanging experiences in the infrastructure sector and exploring the potential collaboration with various stakeholders to fuel the country’s infrastructure. The conversation further focused on providing innovative financial solutions to promote and develop world-class infrastructure in India.
IIFCL recently announced its all-time high financial performance with impressive Cumulative Sanctions and Disbursements of Rs. 2,13,378 Crore and Rs. 1,05,647 Crore respectively as of March 31, 2023. The company’s Standalone Profit after Tax (PAT) grew by 109.16 % over the previous year to Rs. 1,076 Crore in the FY 2022-23 (up from Rs. 514 Crore in FY 2021-22), furthering the company’s turnaround performance that began three years back. The company’s net worth grew to Rs. 12,878 Crore in FY 2022-23, up from Rs. 11,737 Crore in FY 2021-22. As of March 31, 2023, IIFCL has been able to improve its asset quality and a significant decrease in Net NPA to 1.41% (down from 3.65% the previous year) and Gross NPA to 4.76% (down from 9.23% the previous year).
In Tamil Nadu, IIFCL has provided finance to about 50 infrastructure projects with total project outlay of Rs. 45,601 Cr. Ind Bharat Power (Madras) Ltd., Essar Bulk Terminal Ltd., EsselWalajahpetPoonamallee Toll Roads Pvt. Ltd., Patel Sethiyahopu-Cholopuram Highway Pvt Ltd, Patel Cholopuram-Thanjavur Highway Private Limited, SU Toll Road Pvt. Ltd. to name a few Marquee Projects in the state.
About IIFCL
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.
