Srei Infrastructure to exit infra financing business in next 3 years

Srei Infrastructure, the holding company of Srei equipment finance, is looking to exit infrastructure finance business over the next three years due to a lack of business opportunities in the segment. The company, which started as an equipment financing firm, is going back to its roots, positioning itself as a leading equipment financing firm.

As Srei refocuses its strategy, it has already reduced headcount by close to 800 employees between September 2018 and September 2019, to make the organisation leaner.

However, in the equipment finance segment too, slowdown impacted business by about 30 per cent on a year-on-year till September, after which there has been slight uptick in demand, said Sunil Kanoria, Vice Chairman, Srei Infrastructure Finance Limited.