Satpal Arora, MD, Tourism Finance Corporation of India (TFCI) said the company is on track to reach Rs 1000 crore loan growth for FY17 but disbursements would be around Rs 500 crore as against expected Rs 600 crore.
Disbursement for the fourth quarter would be around Rs 250-275 crore which would be almost equal to the nine-month disbursement of Rs 225 crore, said Arora in an interview to CNBC-TV18.
The demonetisation mainly impacted the banquet and food and beverage (F&B) business to the tune of 5-10 percent of the total revenues, said Arora adding that now it is back on track now.
Talking about the trajectory for non-performing assets (NPAs), Arora said they plan to end the year with 7 percent gross NPA and 3-4 percent net NPA.
The gross NPAs for the company stood at around 12 percent and net NPAs around 8 percent earlier.
When asked if IFCI planned to sell its 33.5 percent stake in TCFI, Arora said he was not aware of any such news but added that even if there was a sale it would not impact operations of the company and there would be no cash coming into the company.
The company he said had a capital adequacy ratio at 40 percent, so had sufficient margin to raise capital if required.
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