Hemant Kanoria, chairman and managing director, SREI Infrastructure Finance expects a better FY15 than the earlier year buoyed by the new government's sincere intent at reviving infrastructure sector.
Hemant Kanoria, chairman and managing director, SREI Infrastructure Finance says the company is looking to divest its assets worth Rs 500-1000 crore and expects them to be monetized by this fiscal year-end.
Speaking to CNBC-TV18, Kanoria says the company is working on various routes, including initial public offer (IPO), to monetize telecom tower operator Viom Network.SREI Infra has an 18 percent stake in the company that is a joint venture (JV) with Tata Group.
The company may opt to list on either New York Stock Exchange (NYSE) or the London Stock Exchange (LSE), he further adds.
Kanoria is also eyeing the listing of the company's various road projects. He says the company is currently in talks with merchant bankers for the listing of two of its road projects.
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Furthermore, Kanoria expects a better FY15 than the earlier year buoyed by the new government's sincere intent at reviving the infrastructure sector.
"We expect some improvement in gross non-performing loans (NPLs). We saw marginal optimism in Q1, but expect a significant lower level of NPLs in Q3 and Q4," he further adds.
Below is the edited transcript of Hemant Kanoria's interview with Anuj Singhal and Ekta Batra on CNBC-TV18.
Anuj: Can you tell us what is happening with Viom in terms of listing or stake sale if you could give us any kind of update on that?
A: That process is already on for Viom. As we have gone to public and said many times that there are various options that we are looking at, so that is on track.
On the disinvestment and also getting some dilutions listings etc, so all the opportunities and potentials are being explored there. But as other things in infrastructure is concerned, gradually things are now looking up, I would say that.
On the ground level, things have still not started happening in the manner that we had expected but I am sure that with the kind of exuberance of the government and now that three-four months are over, so things will gradually start happening.
SREI Infra stock price
On September 23, 2014, at 14:10 hrs SREI Infrastructure Finance was quoting at Rs 49.15, down Rs 2, or 3.91 percent. The 52-week high of the share was Rs 57.55 and the 52-week low was Rs 17.60.
The company's trailing 12-month (TTM) EPS was at Rs 1.50 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 32.77. The latest book value of the company is Rs 53.22 per share. At current value, the price-to-book value of the company is 0.92.
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