The state-owned India Infrastructure Finance Company announced a disbursement of Rs 223.56 billion in the fiscal year 2023-24 (April-March), marking a 62% increase compared to the previous year. This surge indicated a heightened demand for longer tenure financing within the infrastructure sector. As of March 2024, the cumulative disbursement on a consolidated basis amounted to about Rs 1.48 trillion.

During a post-earnings press conference, Padmanabhan Raja Jaishankar, the Managing Director of IIFCL, stated that the proportion of completed and operational assets had been steadily growing. He noted that this asset class had now gained recognition as an investment opportunity for various categories of investors, both domestic and global, particularly attracting global investors.

The non-banking finance company also reported a robust increase in loan sanctions for the previous financial year, reaching Rs 423.09 billion, a 45% rise year-on-year. By March 31, 2024, cumulative sanctions had reached Rs 2.55 trillion.

The significant growth in both loan sanctions and disbursements had a positive impact on the company's financial performance, with the profit after tax for 2023-24 standing at Rs 15.52 billion, up by 44% from the previous year.

The expansion of the company's loan book was paralleled by the growth of quality assets, resulting in a decline in the gross non-performing asset ratio to 1.61% as of March 31, 2024, down from 4.76% in the previous year and significantly lower than the 19.70% recorded in March 2020.

Jaishankar emphasised the company's commitment to growth coupled with maintaining quality standards, stating, "We have always maintained that we have to grow, but grow with quality."

Furthermore, the proportion of IIFCL's assets rated ?A? and above saw an increase to 88% as of March 31, 2024, up from 72% in March 2023 and 43% in March 2020.