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M. Ramesh

Rs 3,500-crore loan book likely

Chennai , March 10

SREI Infrastructure Finance Ltd expects to end the year with a 50 per cent jump in disbursements.

The company's Director, Mr Sunil Kanoria, told Business Line that current year's disbursements would cross the Rs 2,500-crore mark.

The Kolkata-based non-banking finance company specialises in financing infrastructure projects and equipment and renewable energy initiatives. It is likely to close the year with a loan book of Rs 3,500 crore.

SREI had reported a 73-per cent growth in profit before tax at Rs 46.66 crore for the nine-month period ended December 2005 from Rs 26.91 crore in the year-ago period.

Tata Motors deal

In April 2005, SREI had announced it would buy 10,000 units of construction equipment from Tata Motors.

Asked about the deal, Mr Kanoria said it was "not as good as we thought", with problems relating to delivery, logistics and taxation. Till December, SREI had bought 2,500-odd construction-related vehicles.

Mr Kanoria, however, said: "some learning has happened, and the company intended to carry the deal through."

Indian Infrastructure Equipment Ltd(IIEL), a company promoted by SREI, expects to get Rs 100 crore through private equity funding.

IIEL, whose shareholders include IFC, FMO of The Netherlands and Swedfund International, rents out infrastructure equipment. It provides this service under the brand name - Quipo. IIEL's subsidiary - Quipo Telecom Infrastructure Rental Pvt Ltd - intends to build and hire out 10,000 telecom towers across the country.

Another subsidiary - Quipo Oil & Gas Pvt Ltd - provides drilling equipment and services to oil companies.

Mr Kanoria said that Quipo Oil intends to offer `semi submersible drilling rigs' for deep sea drilling operations.

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