IIFCL concludes stakeholders meet
Government-owned financial institution India Infrastructure Finance Company Limited (IIFCL) held a one-day ‘Stakeholders Meeting’ in the city.
image for illustrative purpose
Hyderabad: Government-owned financial institution India Infrastructure Finance Company Limited (IIFCL) held a one-day ‘Stakeholders Meeting’ in the city. The meet was organised for stakeholders to collaborate on strategies to address infrastructure challenges with a focus on developing effective solutions. Delegates from the infrastructure and finance sectors joined by P R Jaishankar, Managing Director, Pawan K Kumar, Deputy Managing Director, and other IIFCL officials were present.
IIFCL held its second series of stakeholders meet in Hyderabad, following a meeting held in Chennai recently. The meeting provided a platform for industry leaders to share their insights and discuss the current landscape of infrastructure. “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,” IIFCL said.
The participation and active engagement of the eminent infrastructure stakeholders demonstrated their ongoing commitment towards investing in the development of infrastructure in the country, the financial solution provider said.
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) are the few 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 FY 2022-23 (up from Rs 514 crore in FY 2021-22). As of March 31, 2023, IIFCL achieved decline in Net NPA to 1.41 per cent (down from 3.65 per cent the previous year) and Gross NPA to 4.76 per cent (down from 9.23 per cent the last year).
