IL&FS PE invests $44M in infra & realty space; Encashes $11.5M during Q1

IL&FS Investment Managers Ltd (IIML), the country’s largest private equity firm by assets under management (AUM), invested nearly Rs 247 crore ($44 million) in the infrastructure and real estate sectors in the first quarter ended June 30, 2012, in what was otherwise a bleak quarter for PE investments in India (more on that here).

The PE firm, which boasts AUM of around $3.2 billion, also recorded exits/part-exits worth Rs 65 crore ($11.57 million) during the same period, according to a company disclosure. But the firm did not give a sectoral breakdown of its exits.

In the same period, the investment firm reported consolidated revenue growth of 10 per cent to close the quarter at Rs 58.2 crore. Net profit also increased 5 per cent to Rs 18.1 crore in this period.

“The country has faced its worst quarter in nine years. This, combined with a weakened rupee, had an impact on the operating environment of the company. While we expect that in the short-to-medium term, the stress we have seen in the past few quarters will continue to impact performance, the long-term fundamentals continue to be strong,” said Archana Hingorani, chief executive of IL&FS Investment Managers.

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(Edited by Sanghamitra Mandal)

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