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L&T Infra lending to rise over Rs5k cr by March ’10

L&T Infra lending to rise over Rs5k cr by March ’10
PTI
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First Published: Wed, Feb 10 2010. 07 24 PM IST
Updated: Wed, Feb 10 2010. 07 24 PM IST
Mumbai: Infrastructure projects financier L&T Infra expects to expand its loan book to above Rs5,000 crore by end of fiscal 2009-10 on the back of a healthy growth in power and construction sectors, a top official said.
This would be nearly doubling the NBFC’s loan book size as compared to the year-ago period when it had total advances of mere Rs2,800-crore.
Presently, the company has total loans of Rs4,500-crore.
“Our loan book size currently stands at Rs4,500-crore. This will go up to over Rs5,000 crore this fiscal,” L&T Infrastructure Finance, managing director and chief executive officers, Suneet K Maheshwari told reporters here.
Referring to bad loans, Maheshwari said that though there was a stress in some segments in the first half of the year, the lender is now maintaining the asset quality at ‘very good’ level.
L&T Infra has seen significant revival in its loan demand over the last few months in line with the recovery in the domestic economy, Maheshawri said.
“We see a lot of projects at the moment from sectors like power and road construction. There is a lot of interest coming in for funds,” Maheshawari said.
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First Published: Wed, Feb 10 2010. 07 24 PM IST