Advertisement

HindustanTimes Thu,28 Aug 2014

PFC is among 10 profit-making PSUs

Srinand Jha, Hindustan Times  New Delhi, March 17, 2013
First Published: 23:27 IST(17/3/2013) | Last Updated: 23:36 IST(17/3/2013)

Incorporated in 1986, Power Finance Corporation (PFC) is a schedule-A Navratna central public sector enterprise, and is currently the largest Non-Banking Financial Corporation (NBFC) in the country. Its chairman and managing director Satnam Singh spoke to the HT on a range of issues. Excerpts: 

Advertisement

What role does the PFC play in the power sector?
PFC, with its vast and specialised knowledge in the power sector, stands ready and willing to support its clients to ensure greater returns for all parties involved.

This experience allows for the company to make tailor-made solutions for each individual client, keeping varied circumstances and limitations in mind.

The company is also continuously evolving, branching out into related spheres and ventures. Prime examples of this evolution are the wholly-owned three subsidiaries of PFC - PFC Consulting Ltd, PFC Capital Advisory Services Ltd and PFC Green Energy Ltd, which are now well on their way to becoming incredibly successful businesses in their own right.

Establishing these subsidiaries ensures that PFC is fully prepared to tackle the changing face of the Power Sector of India well into the future.

Besides these subsidiaries, what are the other areas PFC is venturing into?
Besides the subsidiaries, PFC has established other ventures to fully utilise the opportunities available in the power sector.

These strategic business ventures include - apart from conventional and consortium lending to generation, transmission and distribution projects - lending to power equipment manufactures and fuel producers and suppliers in India and abroad, equity funding, nuclear energy funding, establishing power exchanges, banking and acquisition advisory services.

How has PFC supported the Indian government's vision of bringing power to every citizen of the country?
PFC's great work has been recognised by the government, which has appointed the company as the nodal agency for its most critical power sector initiatives — the ultra mega power projects, the restructured - accelerated power development and reform programme and the independent transmission projects.

Through its expertise, and that of its subsidiaries and business units, PFC continues to stand at the forefront of India's march towards becoming a globally leading country.

Can you elaborate on the finances of the company?
PFC remains the youngest among the top 10 profit-making public sector undertakings (PSUs) in the country.

Profit per employee figure remains the highest in the land, having improved even further. It now stands at a stellar Rs.8.86 crore per employee.

The net profit for nine months ended December 31, 2012, showed an increase of 41%, from Rs.2,213 crore last year to Rs.3,125 crore this year.

Net interest income rose from Rs.3,166 crore to Rs.4,546 crore, a 44% increase. The essential metric for any financial institution are loan assets, and PFC's rise in this segment is further substantiated by a 26% rise in the same, from Rs.1,17,654 crore to the current level of Rs.1,47,845 crore.

Can you elaborate on the PFC's corporate social responsibility activities?
While PFC remains committed to its original mandate, it has never lost sight of its responsibilities as a corporation in the Republic of India.

The company has regularly participated in CSR activities and continues to do so. As a testament to PFC's commitment to the society, the company has its own CSR unit, dedicated solely to this noble venture.

Besides this, the company continues to maintain the highest standards of corporate governance, with a special emphasis on authority and freedom of management, along with transparency, accountability and professionalism.

This will ensure the enhancement of the long term economic value of all stakeholders and society as a whole.


Advertisement
more from New Delhi

Police spot ‘dead’ AAP activist in Bangalore, Nepal

Chandra Mohan Sharma, the RTI activist and Aam Aadmi Party member whose burnt body was recovered from his car in Greater Noida three months ago, is now suspected of having staged his death.

Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved