The way some very unresearched reports have surfaced sullying the Srei brand name and dragging the family name into it, we cannot rule it (conspiracy campaign to malign Srei’s image) out completely, says Kanoria, the erstwhile promoter of Srei Infra and Srei Equipment Finance.
Kanoria, 57, talks about what business schools can do in creating leaders but why on-the-job training is even more critical.
In an exclusive interview with Moneycontrol, Hemant Kanoria, Chairman, Srei Infrastructure Finance, talks about a range of issues, including the reasons behind Srei's change in strategy and other industry issues.
SREI Infrastructure Finance is in focus as the Bharat Road Networks (BRNL) issue closes today. The initial public offerings (IPO) has been subscribed 70 percent as of date. In an interview to CNBC-TV18, Hemant Kanoria, CMD of SREI Infra shared his views on the same.
Financing firm SREI Infra sees a healthy growth in disbursements to construction sector, construction and mining equipment business and irrigation projects with increased focus of government on infrastructure outlay in Budget.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his reading and outlook on the market as well as on specific stocks.
SREI Infrastructure‘s subsidiary SREI Equipment Finance will raise Rs 500 crore thorough non-convertible debentures. Funds raised will not have dramatic difference on the company‘s cost of funds, said Hemant Kanoria, CMD of SREI Infra.
SREI Infrastructure witnessed a rise in net profit in the second quarter of current fiscal to Rs 61.9 crore from Rs 51.6 crore in the first quarter. This was on the back of a rise in construction equipment finance in the quarter.
The joint venture will provide services to existing and new power plants and will improve plant efficiency, provide operation and maintenance (O&M) and coal blending services, says Hemant Kanoria, CMD of Srei Infra.
SREI Infrastructure Finance posted strong disbursement growth in the quarter gone by, at 40 percent.
Things are looking up in the infra sector; road and power sectors have seen a pick-up, says Hemant Kanoria, CMD of SREI.
MEPL has a coal-fired thermal power plant having 300 MW installed capacity and another 700 MW one which is under construction located in Nellore, Andhra Pradesh, which is expected to be operational by December, 2017, Kanoria said.
In an interview to CNBC-TV18's Menaka Doshi at World Economic Forum, Davos 2016, Hemant Kanoria, CMD of SREI Infrastructure Finance spoke about the latest happenings in his company and sector.
Hemant Kanoria, Chairman and Managing Director, SREI Infrastructure Finance pointed out that the 5 percent stake in the parent has been given out in lieu of BNP Paribas Lease Group‘s (BNPLG) entire stake in SREI Equipment Finance business.
"Srei Infra, BPLG, Srei Equipment Finance (SEFL), Hemant Kanoria and Sunil Kanoria have entered into a share purchase agreement whereby BPLG has agreed to acquire 2.5 crore equity shares of SREI, representing 5 percent equity capital," says the non-banking finance company in its filing to exchanges.
Hemant Kanoria, CMD, SREI Infra, does not think the Bengal government is pushing for development because it goes into polls next year
Hemant Kanoria, CMD of SREI Infra said the company has diversified its portfolio across various sectors to manage risks of slowdown from the construction and mining equipment segments.
SREI Infrastructure Finance CMD Hemant Kanoria says Non-performing loans have flattened as more or less have been provided for. As the recovery in the economy takes place, then the NPL recovery will also start off.
The Reserve Bank of India on Tuesday reduced repo rate by 25 basis points to 7.25 percent and kept the CRR and SLR unchanged.
SREI Infra is looking to invest Rs 5,000 crore over the next one year to finance construction projects. The company is looking at different options to increase retail funding to reduce cost of funds.
Total income increased from Rs 818.01 crore for the quarter ended September 30, 2013 to Rs 833.05 crore for the quarter ended September 30, 2014.
Total income has increased from Rs 818.01 crore for the quarter ended September 30, 2013 to Rs 833.05 crore for the quarter ended September 30, 2014.
Speaking to CNBC-TV18, Hemant Kanoria, CMD, SREI Infrastructure, said the issue of taxation remains to be solved and feels though work towards environment clearances has started, it needs to pick momentum.
A small dilution is expected to take place in Viom Networks but with no intentions to make an exit from Viom: SREI Infra
The company has no plans to liquidate the shares of United Spirits in the near-term, CMD Hemant Kanoria said.