Mumbai, Nov 25 (PTI) Small businesses-focused non-banking lender Ugro Capital has set a target of nearly three-fold growth in loan book to Rs 7,000 crore by March, having already reached Rs 4,375 crore of AUM in the first half.
The NBFC had a loan book of Rs 1,317 crore in FY21 which more than doubled to Rs 2,970 crore in FY22 and scaled past Rs 4,375 crore in the first half of the current fiscal, driven by increased credit demand from its focus segments as well as co-lending and co-origination partnerships. It has such partnerships with 10 banks/large NBFCs.
"We closed the September quarter with a live loan book of Rs 4,375 crore, which means a monthly run-rate of Rs 408 crore and the net disbursement in the first half stood at Rs 2,017 crore.
"Given this level of disbursement and fresh demand, we are hopeful of growing the loan book to Rs 7,000 crore," Shachindra Nath, vice-chairman and managing director of the company told PTI.
Claiming to be a pioneer in lending-as-a-service (LaaS) in the country, he said given the existing infrastructure and the co-lending pipeline, the company expect to disburse Rs 3,000 crore on a net basis, which translates into a monthly average run rate of Rs 500 crore.
This should help us meet our loan book target of Rs 7,000 crore by this fiscal, he added.
The company's off-book loans jumped 29 per cent to Rs 1,275 crore in the September quarter and should grow 50 per cent through the remainder of the fiscal year, he added.
The company booked a net income of Rs 28 crore in H1 against Rs 20 crore in FY22, while its total income grew to Rs 158 crore in the first half compared to the FY22 number of Rs 176 crore.
The company offers both secured and unsecured business loans, finance for machinery, secured loans to micro-enterprises and supply chain and merchant finance. It has over 32,000 customers and over 80 branches manned by 700 employees. PTI BEN BAL BAL