The Hindu Business Line : PFC net profit rises 32% in Q4

For 2008-09, the net profit increased 12 per cent and the operating income increased by 30 per cent. PFC has sanctioned loans of Rs 57,030 crore, which is higher than the target sanction of Rs 50,600 crore. The loan disbursements for the year were Rs 21,054 crore.

The Chairman of the company, Mr Satnam Singh, addressing the media said that by second quarter of the current fiscal, group company PFC Consulting – which handles Ultra Mega Power Projects (UMPPs) business – could call for requests for proposal for UMPPs in Chhattisgarh, Orissa and Tamil Nadu. Discussions are also underway for a UMPP each in Gujarat and Andhra Pradesh and two UMPPs in Orissa, he said.

Mr Singh said that Reliance Power may complete arranging funds for the 4,000-MW Sasan UMPP in Madhya Pradesh by the end of April. For the Tilaiya UMPP, which has also been awarded to Reliance Power, about 80 per cent of the land payment has been done, Mr Singh said.

The Chairman announced that a separate arm of PFC would run the private equity business. As private equity business would be ring-fenced, there would no conflict of interest with the debt business.

At the closing of market hours on the BSE on Friday, the stock was trading at Rs 154.60, a rise of 6.95 per cent over the previous closing price of Rs 144.55.