RE:RE:RE:IIFL’s Nirmal Jain Says 25-30% Growth Not Difficult for NBFCIt is publicly traded and therefore the book value accounting on behalf of FIH is the market value of the shares. The share price has taken off since the initial investment:
Initial Investment ($thousands) Current Value ($thousands) Return
IIFL Holdings 276,734 908,443 93.3%
The FIH portfolio had a total value of $2.2 billion at the time of the annual report, meaning IIFL was 40% of the total at the time.
IIFL is growing at about 25-35% annually however, faster than the rest of the book. The Bangalore airport has a tariff-limited 16% annual return for example. Catholic Syrian has potential but is a bank, akin to the private banks of India, that grow at (so Prem has said in interviews previously) about 2.5X GDP growth, which is about 18-19%.
If it doesn't hit 50% + in the next annual report, it would be quite a surprise...