Ahmedabad, July 23, 2010: Srei BNP Paribas, industry leader in the infrastructure and construction equipment financing, is targeting to disburse over Rs. 1,100 crore in Gujarat and has opened 5th office in the state at Gandhidham today towards its aggressive growth plans in the State.
A 50:50 joint-venture between Srei Infrastructure Finance Limited, India’s leading and only private sector Non Banking Financial Institution in the infrastructure space and BNP Paribas Lease Group (BPLG), a wholly owned subsidiary of BNP Paribas, France, Srei BNP Paribas had disbursed over Rs. 400 crore in the state last fiscal while has already disbursed Rs. 350 crore in the state this fiscal. Srei BNP Paribas has over 2,400 customers in the state.
The new office at Gadhidham would cater to the customers in the Kutch area, having a concentration in port and cargo handling business, salt fields, lignite mining and other infrastructure activities. With the Gujarat state redefining infrastructure development and industrial activity in India, Srei BNP Paribas has matched the passion of the state with its disbursal in the Gujarat state being among the highest in India.
Srei BNP Paribas had disbursed over Rs. 6,000 crore last fiscal pan India and is expected to disburse around Rs. 10,000 crore this fiscal pan India.
Commenting on the development, D K Vyas, Chief Executive Officer, Srei BNP Paribas said, “Gujarat is witnessing huge infrastructure activity and is a front runner in the development and privatisation of infrastructure. Srei BNP Paribas is committed to partnering Gujarat in its forward march and is therefore opening an office in Gandhidham to help grow a new segment of infrastructure players active in that region.”
About Srei BNP Paribas
Srei BNP Paribas (Registered name: Srei Equipment Finance Private Limited) is a 50:50 joint-venture between Srei Infrastructure Finance Ltd., India’s leading and only private sector Non Banking Financial Institutions in the infrastructure space and BNP Paribas Lease Group (BPLG), a wholly owned subsidiary of BNP Paribas, France.
Srei BNP Paribas started its operation from January 01, 2008 with the infrastructure and construction equipment financing and insurance businesses and has further plans to expand its business to new verticals. Srei BNP Paribas has already started financing Technology Solutions (financing of IT equipment, software and services) and has effectively partnered with leading global IT vendors for financing their customers and expects to ramp up this portfolio significantly in the coming months. It is in advanced stage of strategy formulation to venture into financing of new Equipment classes: Agriculture Equipment, Healthcare Equipment, Office Automation, Equipment in Education sector etc. With its foray into new equipment classes, Srei BNP Paribas will become probably the one and only Company to offer complete Equipment Solutions.
Srei BNP Paribas enjoys a strong national presence with a network of 71 offices in India.
For further information, please contact:
D K Vyas
Chief Executive Officer
Srei BNP Paribas
Mobile: +91 9830056384
E-mail: vyas@srei.com
Braj Kishore
Vice President and Head
Corporate Communication and Brand Management
Srei Infrastructure Finance Limited
Phone: +91 33 6602 3211
Mobile: +91 98360 35599
E-mail: braj.kishore@
Nishant Kela
Bluelotus Communications
Mobile: + 91 9874189149
Email: nishant@bluelotuspr.com
