Srei Equipment Finance plans to venture into used construction equipment and agriculture financing businesses this year. This is to offset the slowing growth in its new construction equipment financing business. The company believes that the next wave of growth will come from used construction equipment financing even as it will continue to focus on its new equipment financing business.

According to DK Vyas, Chief Executive Officer, Srei Equipment Finance, the market for used construction equipment is about Rs 20,000 crore. The company is planning to invest around Rs 500 crore to foray into the used equipment business this fiscal year. The company expects used equipment financing business to account for 20 per cent of the overall business in two years.