Corporate Feature     

Published: June 15, 2024
Updated: June 15, 2024

Srestha Finvest Ltd

To invest Rs. 250 million in renewable energy and clean water projects

Srestha Finvest Ltd., a leader in financial solutions, has announced that Srestha Finvest Ltd (Srestha) and Felix Industries Ltd (Felix) have joined hands through the signing of a Facility Agreement aimed at advancing renewable energy and sustainability initiatives.

Through this agreement, Felix is well-positioned to secure funding for their renewable energy, clean water and water recycle related projects. The Facility Agreement comprises various provisions aimed at enhancing support for Renewable Energy and sustainability related projects. The Company, i.e., Srestha will fund Rs. 250 million for targeting the above mission in next 1-2 years and also expand its footprint in new technology sectors.

Earlier, the company announced stellar earnings for the quarter and year ended 31 March 2024. For the quarter ended 31 March 2024, the company reported Revenue from operations at Rs. 391.85 Lakhs, a growth of 462.36% YoY. PAT was reported at Rs. 506 Lakhs (Q4FY24), and Net PAT (total comprehensive income) came in at Rs. 1767.74 Lakhs (Q4FY24)

For the year ended 31 March 2024, the company saw a stellar 269% growth in its revenue from operations, growing from Rs. 274.56 Lakhs (FY23) to Rs. 1013.01 Lakhs (FY24). PAT came in at Rs. 173.86 Lakhs (FY24), while the Net PAT (total comprehensive income) stood at Rs. 2404 Lakhs (FY24)

Srestha Finvest Ltd is a leader in the field of financial solutions, offering comprehensive solutions to both individuals and businesses. In an Indian financial landscape predominantly reliant on traditional financing avenues, Srestha Finvest recognizes the gaps that stem from a lack of specialized players in the sector. The company, observing the absence of structured financial solutions, limited skill sets, and regulatory constraints that restrict tailored offerings from financial institutions, discerns an opportunity to innovate and deliver customized solutions. Focusing on the Lending Business segment, Srestha Finvest is committed to providing specialized and comprehensive solutions to both Indian corporates and individuals, nurturing and empowering their growth endeavors.

The company prioritizes structured credit products supported by robust cash flows, ensuring a secure and highquality wholesale lending portfolio. Within the Wholesale Lending Business, the company facilitates diverse credit solutions encompassing project funding, mezzanine financing, acquisition financing, bridge financing, working capital requirements, and personal finance, among others.

With a vision to expand and diversify its business verticals, Srestha Finvest aspires to emerge as a comprehensive hub, offering all-encompassing solutions for finance and investment-related products. The securities of the company are listed on BSE (BSE: 539217).