Srei Infrastructure Finance Limited announced financial accounts for the year ended March 31, 2010. Srei Net Profit grows by 89.90 % to Rs 156 Crore. Declared a dividend of 12% to the shareholders

Kolkata, 11th May, 2010: Srei Infrastructure Finance Limited saw a significant rise in its business and profitability recording a growth of 36.21% and 89.89% % respectively.

The consolidated disbursements during the last financial year 2009 – 10 has been Rs 9,017 crore as against Rs. 6,620 crore in the previous year, recording a growth of 36.21%. Consolidated Assets under Management went up to Rs 13,265 crore from Rs. 10,096 crore in the previous year, registering an increase of 31.38%. Continuing its growth story of the last fiscal, Srei’s Consolidated Net Worth rose by 12.15% to Rs 1,279 crore for the year ended March 31, 2010 from Rs. 1,140 crore in the previous year.

The Board of Directors of the Company at its meeting today, approved the Company’s audited financial accounts for the year ended March 31, 2010 and declared a dividend of 12% to the shareholders.

In recent years, the Government has been making concerted efforts to boost Infrastructure activity in India. More recently, with the Prime Minister, projecting infrastructure investment to double in the next few years, the prospects for the Infrastructure sector appear to be very high. Srei, as a Holistic Infrastructure Institution, is strategically placed to benefit from this huge growth.

Commenting on the business done during the last fiscal Mr. Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Limited, said, “The results have been better than our expectation. It is primarily because of the concerted efforts of Srei team in all businesses, which has enabled us to surpass our targets. Furthermore, the infrastructure environment has been more conducive this year, resulting in accelerated growth.”

Mr. Kanoria further added, “With infrastructure investment pegged at USD 1 trillion in the twelfth five year plan (2012 – 2017), we at Srei will reach newer heights.”

The Consolidated Total Income of the Company grew by 14.17% to Rs 972.16 crore for the year 2009 – 10 from Rs. 851.53 crore the previous year. The Consolidated Profit before Tax was
Rs 217.66 crore as against Rs. 104.94 crore in the previous year, thus growing by 107.41%. Consolidated Profit after Tax was Rs 156.80 crore as against Rs. 82.57 crore in the previous year, recording a growth of 89.90 %.

In January, 2010 Srei and Quippo had announced their synergistic integration with the objective of creating a much larger single entity to house all the infrastructure businesses together, thereby substantially augmenting shareholder’s value. It will also result in higher net worth enabling the Company to expand its infrastructure portfolio.

The Infrastructure Project Finance group at Srei continues to grow the portfolio in the Power, Ports, Roads, Aviation, Oil and Gas, Mining, Logistics, Industrial Parks, Telecommunications, SEZs and Urban Infrastructure. The Infrastructure Project Finance division has huge competitive edge with over 21 years of infrastructure experience of Srei and resultant relationship with partners. Added advantage with Srei is the speed and flexibility of loan disbursement benefitting the customers.

The Infrastructure Advisory Business at Srei is now a recognised name in providing assistance to organisations engaged in infrastructure projects with special focus on urban rejuvenation, mass transit systems and power transmission. In addition, Srei Advisory team advises Government / Companies engaged in normal infrastructure projects such as roads, ports, bridges, flyovers and highways. It is also associating with some leading and established players in the industry to offer solutions in the areas of Power Transmission, Utility Reforms, Rajeev Gandhi Grameen Vidyutikaran Yojana (RGGVY), Accelerated Power Development & Reforms Programme (APDRP), Decentralised Distributed Generation (DDG) and Renewable Energy.

The Infrastructure Project Development group at Srei has made significant progress and is a leading sponsor of highways business in India with a portfolio of Rs. 13,030crore under development / commissioning for 1,020 kms Road and Highways Infrastructure space in consortium with leading road developers under PPP framework. These projects are a diversified mix of annuity and toll-based projects and awarded by the National Highway Authority of India (NHAI) under National Highways Development Programme (NHDP) and various State Governments. During the last year, Project Development group at Srei has been awarded under consortium, over Rs. 5,468 crore of projects.

The International Business group at Srei recently tied up with Aayan Capital of Saudi Arabia, for providing technical advisory services for setting up an equipment leasing company in Saudi Arabia. Aayan Capital is one of the largest auto financing groups in the Gulf Region.

Srei BNP Paribas, a 50-50 Joint Venture between Srei Infrastructure Finance Limited and BNP Paribas Lease Group, while continuing to remain industry leader in the infrastructure and construction equipment financing and leasing, has successfully added Technology Financing Solutions to its business portfolio. Srei BNP Paribas has also ventured into financing of new equipment classes like Agriculture and Healthcare. Srei BNP Paribas will become probably the one and only Company to offer complete Equipment Solutions. It also introduced a brand new Marketing programme, ‘Your Equipment Solution’ (YES) especially created for its customers and manufacturers.

About Srei Infrastructure Finance Limited

Srei is a Holistic Infrastructure Institution, constantly and consistently ideating to deliver innovative solutions in infrastructure space, thus playing a significant role in nation-building for over two decades, both in urban and rural India. Srei’s businesses include Infrastructure Equipment Leasing & Finance, Infrastructure Project Finance, Advisory & Development, Insurance Broking, Venture Capital, Capital Market and Sahaj e -Village. Srei has a pan-India presence with a network of 71 offices and has also replicated its business model overseas with three offices in Russia. Srei is the first Indian infrastructure financing institution to get listed on the London Stock Exchange. Srei Equipment Finance Pvt. Ltd., a joint venture between Srei Infrastructure and BNP Paribas Lease Group, a wholly owned subsidiary of BNP Paribas, is a Srei Group company engaged in Infrastructure Equipment Leasing and Financing Business.

For further information, please contact:

Braj Kishore
Vice President and Head
Corporate Communication and Brand Management
Srei Infrastructure Finance Limited
Phone: +91 33 3987 3211
Mobile: +91 98360 35599
E-mail: braj.kishore@srei.com

Nishant Kela
Bluelotus Communications
Mobile: 9874189149
Email: nishant@bluelotuspr.com

For Investor Queries, please contact:

Bajrang Kumar Choudhary
Senior Vice President
Phone: +91 33 39873623
Mobile: +91 98310 34634
E-mail:bajrang.choudhary@srei.com
investor.relations@srei.com