PTC India Financial Services (PFS) sanctions Rs. 680 Crores to 7 power projects in January - March, 2011

• Security Code: 533344
• Company: PFS

PTC India Financial Services Ltd has informed BSE regarding a Press Release titled " PTC India Financial Services (PFS) sanctions Rs. 680 Crores to 7 power projects in January - March, 2011".

Press Release :

"PTC India Financial Services (PFS), a subsidiary of PTC India Limited (PTC) has sanctioned debts aggregating to Rs. 680 crore in January-March quarter of the Financial Year 2010-11. The debt assistance has been sanctioned to 7 thermal, wind, bio-mass and hydro projects. This is compared to total debt sanction of Rs. 1713 crore to 20 projects during the year 2010-11. Cumulatively, the effective sanction of PFS as on 31st March, 2011 was Rs. 3046 crore.

During the year 2010-11, PFS made disbursement of Rs. 801 crore of which disbursement of Rs. 172 crore was made in January - March quarter of 2010-11.

PFS has also sanctioned cumulatively participation in equity of power projects amounting to Rs. 564 crore with a disbursal of Rs. 460 crore till 31st March, 2011. This is likely to help capacity creation of 3221 MW.

Pursuant to receipt of the status of "Infrastructure Finance Company" (IFC) by the Reserve Bank of India in August, 2010, the Company has successfully raised Rs. 42 crore though issuance of Long Term Infrastructure Bond with benefits of Section-80 CCF of Income Tax Act, 1961.

PFS has already raised its capital though issuance of new share through IPO which was completed in March, 2011. This would help Company to increase its exposure limit in debt financing to power projects as PFS now can take exposure in debt financing up to Rs. 250 crore.

PFS is an Indian non-banking finance institution promoted by PTC to make principal investments in, and provide financing solutions for companies with projects across the energy value chain. PFS offers an integrated suite of financial services with a focus on infrastructure development, including providing debt (short term and long term) financing to, and making investments in, private section Indian companies in the power sector, including for power generation, equipment supply and fuel source projects. PFS is currently focused primarily on power generation projects in India. PFS also provides fee based syndication and other services as well as carbon credit financing against Certified Emissions Reduction (CER). Note: - Aforesaid numbers are not audited by Auditor and subject to their review."