Sinhaputhra aiming at Rs 9 b lending portfolio
Sinhaputhra Finance PLC is aiming at amassing a lending portfolio of
Rs. nine billion in next three years. This would be a 300 percent
increase of the current position.
new building in Kandy
Sinhaputhra Managing Director Ravana Wijeyeratne said that the Kandy
based company had been also showing strong growth of 89% percent year on
year as at 31 December,
2011. Mobilization of deposits too was up to the mark with a 30
percent growth and to date Sinhaputhara Finance able to secure Rs. three
billion. The leasing and hire purchase discernments increased by 170
percent.Commenting on the Hybrid market he said that they were one of
the pioneers in imports when the vehicles were introduced and still
maintains a high profile in this area.
He said that their new building in Kandy which was opened last year
today stands as an icon in Kandy.
“The new complex which has won acclaim from several town planning
authorities for its heritage architecture has given you an asset which
will increase in value,” he said. Parts of the 33,000 square foot
complex have been given out on lease and on revenue share basis to an
educational institute and business process outsourcing company.
The conference halls have been used by a wide range of institutes and
associations for their functions.
“We hope to maintain these public spaces such as the twin auditoriums
and a roof top terrace now under gazebo cover to benefit the company in
terms of a wider public patronage resulting in greater visibility of our
services,” he said.
At a micro level Sinhaputhra ensured a profit after tax, of Rs. 26.9
million earning Rs. 4.28 per share against Rs. 1.23 the previous year
according to the last annual report.
This was a significant 247% increase in performance.
The company attracted fresh public deposits in excess of Rs.1,226
million and a net growth of Rs. 445 million during the year displaying
the goodwill it has acquired over the last thirty three years in
financial service. During the period the company with a Rs. 3.8 billion
asset base enhanced their Equity to Rs. 469 million.