Sanctions and Disbursements Reach Unprecedented Highs
IIFCL sanctioned an all-time high of ₹51,124 crore in FY 2024–25, a 21% growth over the previous year’s ₹42,309 crore. It also disbursed a record ₹28,501 crore, growing 28% year-on-year. These numbers reflect the expanding trust of infrastructure developers in IIFCL’s financial offerings and the company’s enhanced ability to deliver timely funding.
Key Context:
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Infrastructure demand in India has been growing steadily due to rising urbanization, logistics demands, renewable energy push, and PM Gati Shakti initiatives.
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IIFCL’s sanction and disbursement surge comes at a time when public-private partnerships (PPPs) are being revitalized and hybrid annuity model (HAM) projects are becoming mainstream.
Cumulative Financial Progress: Solidifying Market Leadership
By the end of FY 2024–25:
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Cumulative sanctions touched ₹3.06 lakh crore
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Cumulative disbursements reached ₹1.56 lakh crore
Of this, over 55% of cumulative sanctions and disbursements were achieved in the last five years alone, underscoring IIFCL’s rapid acceleration in relevance and operations.
On a consolidated basis:
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Sanctions: ₹3.53 lakh crore
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Disbursements: ₹1.79 lakh crore
This reflects IIFCL’s increasing financial muscle and maturity across multiple lending products and consortium lending arrangements.
Profitability: Highest Ever, Driven by Efficiency and Risk Management
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Profit Before Tax (PBT): ₹2,776 crore (↑37% from FY 2023–24) -
Profit After Tax (PAT): ₹2,165 crore (↑39% from FY 2023–24)
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Compared to FY 2019–20 (PAT: ₹51 crore), the current PAT represents a 42x growth.
Profit Before Tax (PBT): ₹2,776 crore (↑37% from FY 2023–24)Such profitability is rare among public infrastructure lenders and showcases:
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Better appraisal and monitoring processes
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Strong credit risk governance
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Streamlined internal controls
Balance Sheet Strength: Net Worth and CRAR
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Net Worth: ₹16,395 crore in FY 2024–25 (↑15% YoY)
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Capital to Risk-Weighted Assets Ratio (CRAR): 23.44% (well above the regulatory requirement of ~15%)
The enhanced net worth equips IIFCL to:
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Lend more to priority infrastructure sectors (roads, ports, renewables, social infra)
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Maintain confidence of rating agencies, consortium lenders, and sovereign borrowing frameworks
Asset Quality: Dramatic Reduction in NPAs and Higher-Rated Assets
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Gross NPA (GNPA): 1.11% (↓from 1.61% last year; 19.70% in FY 2019–20)
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Net NPA (NNPA): 0.35% (↓from 0.46% last year; 9.75% in FY 2019–20)
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Asset Quality (rated A and above): ~93% of assets (↑from 43% in FY 2019–20)
These figures reflect:
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Significant strengthening of credit monitoring
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Successful NPA recovery mechanisms
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Strategic exits from stressed exposures
Loan Book and Portfolio Expansion
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Standalone Loan Portfolio: ₹69,904 crore in FY 2024–25 (↑37% YoY from ₹51,017 crore)
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Indicates growing participation in long-tenor debt structures and increasing involvement in brownfield infrastructure refinancing
Investments in Bonds and InvITs: Deepening Market Support
To support the burgeoning infrastructure debt market, IIFCL has made sizeable investments in:
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Infrastructure Bonds: ₹29,102 crore
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Infrastructure Investment Trusts (InvITs): ₹14,220 crore
These investments are crucial for:
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Ensuring liquidity in infrastructure securities
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Enabling refinancing avenues for developers
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Encouraging long-term pension and insurance funds to invest in infra debt
Performance Snapshot (FY 2020–2025)
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Sanctions (₹ Cr) | 9,337 | 20,892 | 25,120 | 29,171 | 42,309 | 51,124 |
| Disbursements (₹ Cr) | 6,015 | 9,460 | 10,445 | 13,826 | 22,356 | 28,501 |
| PBT (₹ Cr) | -291 | 315 | 590 | 1,277 | 2,029 | 2,776 |
| PAT (₹ Cr) | 51 | 285 | 514 | 1,076 | 1,552 | 2,165 |
| Gross NPA (%) | 19.70% | 13.90% | 9.22% | 4.76% | 1.61% | 1.11% |
| Net Worth (₹ Cr) | 10,306 | 10,654 | 11,737 | 12,878 | 14,266 | 16,395 |
| ‘A’ Rated Assets (%) | 43% | 54% | 64% | 72% | 88% | 93% |
| Total Assets (₹ Cr) | 52,147 | 55,525 | 56,964 | 59,485 | 65,493 | 81,572 |
Strategic Implications
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IIFCL’s performance comes at a time when India is projected to spend $1.4 trillion on infrastructure by 2025 under the National Infrastructure Pipeline (NIP).
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The company’s balance sheet and track record make it a viable candidate for future mandates under:
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Development Finance Institution (DFI) frameworks
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Blended finance initiatives
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Green infrastructure bonds
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With a reputation for operational prudence and risk sensitivity, IIFCL is likely to play a central role in financing smart cities, green hydrogen projects, logistics corridors, and social infrastructure.
IIFCL’s performance comes at a time when India is projected to spend $1.4 trillion on infrastructure by 2025 under the National Infrastructure Pipeline (NIP).Conclusion
IIFCL’s exceptional financial performance in FY 2024–25 is not just a matter of numbers—it is a testament to its institutional integrity, strategic foresight, and pivotal role in enabling India’s infrastructure ambitions. With continued focus on profitability, asset quality, and innovative lending instruments, IIFCL is poised to remain a cornerstone in India’s path toward inclusive, resilient, and sustainable infrastructure development.
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