Wednesday, Feb 28 2024 | Time 09:09 Hrs(IST)
Business Economy

Need uniform regulations in Infrastructure: IIFCL MD

Hyderabad, May 25 (UNI) Infrastructure at Teenage stage and needs more regulations and uniform regulations, said Mr P R Jaishankar , Managing Director, India Infrastructure Finance Company Limited (IIFCL), a government of India enterprise, said here on Thursday.

In Telangana, the company has provided finance to about 30 infrastructure projects with a total project outlay of Rs 40,017 crore , Mr Jaishankar told reporters on the sidelines of the ‘ Infrastructure stakeholders ‘ meet organized by IIFCL here to collaborate on strategies for addressing infrastructure challenges.
The funding projects in Telangana are- 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) to name a few Marquee Projects in the state, he said.
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, he said the company's Standalone net profit increased by 109.16 per cent year on year to Rs. 1,076 Crore in FY23 against Rs. 514 Crore in FY22, extending the company's three-year turnaround record.
In FY 2022-23, the company's Net Worth increased to Rs. 12,878 Crore, up from Rs. 11,737 Crore in FY 2021-22, he informed.
As of March 31, 2023, IIFCL has improved its asset quality and achieved a considerable decline in Net NPA to 1.41 per cent (down from 3.65 percent the previous year) and Gross NPA to 4.76 percent (down from 9.23 per cent the last year), he added.
So far, the company has sanctioned more than 690 projects with a total project outlay of Rs 12.21 lakh crore and in which 28 per cent projects belong to PPP, he informed.
"We now have a growth path in front of us and we are looking at growing the company much faster with more stability," he said.
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, he added.
As part of its Strategic initiatives, IIFCL held its second series of stakeholders meetings in Hyderabad, following a successful meeting held in Chennai recently, the company said in a
release here.

The company has always been committed to supporting the government’s vision towards the country's infrastructure growth by ensuring adequate and innovative financing for viable
infrastructure projects.
With this regard, the meeting provided a platform for industry leaders to share their insights and discuss the current landscape of infrastructure.
The objective of the meeting was to enable stakeholders to collaborate on strategies for addressing infrastructure challenges with a focus on developing effective solutions.
The participation and active engagement of the eminent infrastructure stakeholders demonstrated their ongoing commitment towards investing in the development of infrastructure in the country.
Mr. Pawan K. Kumar, Deputy Managing Director, and other IIFCL officials were also present in the meet.
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