SBI Life Insurance, a 74:26 joint venture between State Bank of India and Cardif — a BNP Paribas company, is eyeing a net profit of Rs 750 crore during the current fiscal. The company reported a net profit of Rs 662 crore in FY’13.
According to Atanu Sen, Managing Director and CEO, SBI Life, the company achieved a net profit of nearly Rs 400 crore till September against the set target of Rs 300 crore.
“Our net profit target till September was Rs 300 crore but we achieved Rs 400 crore. For the full year, we are expecting Rs 750 crore. And I am sure of overshooting it,” he told reporters on the sidelines of Infocom 2013.