Mumbai: Axis Bank on Tuesday said it is pursuing all options for recovering money from the Male International Airport project that ran into trouble in the third quarter of this fiscal.
“As far as the transaction is concerned, we clearly have our rights under various financing agreements in terms of the project,” Somnath Sengupta, executive director, Axis Bank, said in an analyst call discussing third-quarter financial results. The loan continues to be performing and all obligations are still being met, he said.
The private sector lender reported an increase of 22% in net profit for the quarter ended December, at Rs1,347 crore, riding on healthy retail loan growth.
16/01/13 Parnika Sokhi/Daily News & Analysis
