IDFC likely to diversify asset base to overcome infra slowdown

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In a bid to overcome the impact of slowdown in the infrastructure sector, NBFC major IDFC has planned to diversify its asset base, said media report.

"We have to see asset diversification beyond infrastructure," Executive Chairman, Rajiv B Lall said at an event organised by Indian Merchants' Chamber.

IDFC, primarily engaged in infra financing, has observed the slowdown in its gross approvals and disbursements due to slowdown in infrastructure sector, said the media report.

During the first quarter, IDFC's gross approvals were down by 78 per cent, gross disbursements fell by 28 per cent over the corresponding period of previous fiscal.

The company, which is also in the fray for banking licence, said it would pursue diversification of its asset class independent of the outcome of their application.

Moreover, talking on rupee depreciation, Lall said recent rupee depreciation could be used to country's advantage by increasing productivity of economy, which would boost exports.

Dion Global Solutions Ltd.

Read more about: idfc
Story first published: Wednesday, August 7, 2013, 9:20 [IST]
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