Hemant Kanoria, CMD, SREI Infrastructure says it will take time to rollout the white label ATM machines. There are various operational issues in rural areas, he explains
We will be trying to concentrate on the white label ATMs in rural areas
Hemant Kanoria
CMD
SREI Infra
Srei Infrastructure received the Reserve Bank approval to set up, own and operate white-label ATMs on Tuesday. Hemant Kanoria, CMD, SREI Infrastructure says this is a good opportunity for the company because it already has a lot of centers in rural areas through Sahaj.
However, he says it will take time to rollout the white label ATM machines. There are various operational issues in rural areas. "We would identify some of the centers and then we will go in for a full rollout because we would be trying to concentrate on white label ATMs in the rural areas only and rural areas have their own difficulties too in collecting cash and transferring them, etc," says Kanoria.
Apart from this, there have been reports that the Tata Group is mulling to exit Viom and is seeking to raise Rs 8,000-10,000 crore. But Kanoria says he hasn't heard anything from the Tata Group on the matter. Infact, he further goes on to say that he doesn't see any merit in any partner exiting Viom.
Viom is a joint venture between Srei Infra and Tata Teleservices (TTSL). TTSL holds 54 percent stake in the JV, while Srei holds 18%.
Below is the verbatim transcript of Hemant Kanoria's interview with CNBC-TV18's Ekta Batra and Reema Tendulkar
Reema: This white label ATMs what does it mean for the company, what will be the kind of investment you will make for these ATMs and what could be the financial reward?
A: We have just got the approval from RBI yesterday so we just need to go through the entire plans, roll out and as we have been contemplating for the last few months that this is a good opportunity for us because we already have through Sahaj a lot of centers in the rural areas. So we would identify some of the centers and then we will go in for a full rollout because we would be trying to concentrate on the white label ATMs in the rural areas only and rural areas have their own difficulties too in collecting cash and transferring cash etc. So there are a lot of operational issues - we are still trying to find out ways and means to deal with it. So therefore it will take some time before we are in a position to actually rollout the white label ATM machines.
Stay tuned for more…
SREI Infra stock price
On March 26, 2014, at 14:31 hrs SREI Infrastructure Finance was quoting at Rs 27.25, up Rs 2.00, or 7.92 percent. The 52-week high of the share was Rs 31.00 and the 52-week low was Rs 17.45.
The company's trailing 12-month (TTM) EPS was at Rs 1.35 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 20.19. The latest book value of the company is Rs 52.62 per share. At current value, the price-to-book value of the company is 0.52.
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