Somehwhere in these pages wwe have caught all the truly deserving and taken extra care to follow all those whose inflections and rises change the fortunes of India and Asia as the flagbearers of our march forward. Consequently despite its $86 mln small quarter(in profit) and a $1.3 billion run rate year in 2011(in revenues), you would find it important to follow and partner the fortunes of India's Infrastructure Development finance Corporation or IDFC with Corp Broking, PE and dedicated infra fiunds giving the firms special digits to grab each and every opportunity for the sub continent and build it into a winner. 

IFC norms have ensured that IDFC need not be a bank like the others we follow but its role is equally critical for the requisite market development in many nascent opportunities and in fact is the required vehicle of choice even when Inddia gets a state sponsored SWF or any other larger fund for Infrastructure specifically. Though not without reason, its close association with construction stocks that are themselves not sure of the immediate future because of more than 50 million sft in commercial and twice that in residential that they carry has troubled IDFC recently. The construction sector's woes apart ( Bangalore itself has 7 million sft in vacant inventory where it usually doesn't have an inch of space left , is a sign of things as they are) there are ports, airport infrastructure, power ( where we are making slow but sure progress ), Energy Infrastructure  and more than $10 bln in PE funds plus more in FDI that is going to get invested in infrastructure this year. This includes the 3i funds and the SBI Macvquarie funds as well, but it also means continuing preferred coverage of the sector a continued effort ( esp by Rel infra) to make equity the preferred means of long term ( 30 year) financing of projects and innumerable SPVs and subsidiaries looking for expertise to review and close investments in innovative models with assured returns and developing regulation. Trust IDFC to never fall for any policy snafus and to be in on the policy making conversation in each case. 

IDFC has disbursed more than $7bln over the last three years till March 2010 and new approvals in 2009-10 itself exceeded that number to $8 bln( all our Re - $ conversions are done at a secular INR 40 to a dollar) Similar growth expected this year has already been delivered in Q1 However in hyper growth cycles year on year comparisons are meaningless and as more details follow the wires, we will update it here

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