“We will set up a 100 per cent infrastructure finance subsidiary by March 2011,” Managing Director Praveen Kadle said here. Presently, infrastructure financing activity was being done out of a division of Tata Capital.
Khadle said funds required for infrastructure financing would be raised through external commercial borrowings and domestic debt.
The company had clocked a net profit of Rs 51 crore on a gross revenue of Rs 1,379 crore. Tata Capital’s capital base stood at Rs 2,200 crore.
Kadle said Tata Capital would also enter foreign exchange business soon and apply for licenses.
Plans are on anvil for launch of a debt fund. “We’re looking at launching a debt fund and working on it,” he said. Tata Capital has 105 branches spread across 68 locations in the country.
Published 17 August 2010, 12:11 IST