APSFC to reach Rs 4,500 crore mark in 3 years

Rajahmundry, June 14 (UNI) Andhra Pradesh State Financial Corporation (APSFC) would reach Rs 4,500 crore business in the coming three years, from the present Rs 1,300 crore mark, according to APSFC Chairman J Rambabu and Managing Director A Giridhar.

Addressing presspersons here they said with the help of HUDCO, NABARD and SIDBI, refinancing the Corporation would be possible to reach the target. State government also came forward with finance of Rs 250 crore, besides alloting 275 acres of land at Hyderabad for industrial park, which would also become capital business, they added.

Stating that SFC's recovery in the last year was good, the duo said real estates value also enhanced which had made them to recover to certain extent. Interest recovery also improved and the accumulated loss of Rs 80 crore would be wiped out gradually.

The growth rate was now 20 per cent and it would be enhanced to 30 per cent through small and medium entrepreneurs, they added.

The SFC would like to go for public issue next year, they said.

During the APSFC business development campaign and entrepreneurs awareness seminar of East and West Godavari districts, Mr Giridhar said 39 projects were sanctioned with Rs 130 crore.

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