Millennium Post

PFC pips FY15 loan sanction target by `5, 000 crore

State-run lender Power Finance Corporation on Monday said it has surpassed its loan sanction target by Rs 5,000 crore to touch Rs 60,000 crore for 2014-15. The company had set a loan sanction target of Rs 55,000 crore and a disbursement target of Rs 44,300 crore for 2014-15.

“PFC achieved sanctions of approximately Rs 60,000 crore and disbursements of approximately Rs 44,300 crore during 2014-15,” the company said in a statement. The company's loan sanctions and disbursement targets have exceeded the original MoU (Memorandum of Understanding) goals set by PFC in the beginning of the fiscal, it said.

PFC will disburse loans worth Rs 44,440 crore during the current fiscal (2015-16). PFC’s loan assets as on March 31, 2015 were approximately Rs 2,18,000 crore, a growth of approximately 15 per cent over the previous year. PFC is engaged in funding of various power projects in generation, transmission, and distribution sectors.

Shares of the company closed at Rs 285.75, down 0.38 per cent on the BSE.
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