Future Capital loan book grows 60%

Highlights

• Total loan book grew 60% from Rs. 1495 cr (Mar’ 10) to Rs. 2386 cr (Dec’ 10)
• Retail Loan Book grew 125% from Rs. 291 cr. To Rs. 655 cr.
• Wholesale grew 43% from Rs. 1204 cr. To Rs. 1731 cr.
• Profits up 7% from Rs. 29 cr. (9 months ending Dec’09) to Rs. 31 cr. (9 months ending Dec’10)
• Gross NPA at 0.6% (Dec’10) 
• Net NPA at 0.3% (Dec’10)

Future Capital Holding recorded a 60% growth in their loan book for the quarter ending Dec’10. The Company also posted a net profit of Rs. 31 crores for the nine months ended December 2010, showing an increase of 7% over the corresponding 9 months. Net profit for the 3rd quarter is Rs. 10 crores, an increase of 25% over the second quarter profit of Rs. 8 crores quarter ending Sep 2010.

The company has a Networth of Rs. 754 crores and has a capital adequacy of 22.3% for the quarter ending December 2010. Currently, Future Capital Holdings has over 160,000 share holders.

Few recent developments in the company:

Mr. V. Vaidyanathan recently joined as the Vice Chairman and Managing Director of the company. He was earlier MD & CEO of ICICI Prudential and on the board of ICICI Bank. Since taking over he has defined the business model of the company and hired the key management team to deliver on the plans.

Mr. Apul Nayyar has joined in October 2010, as the CEO of the Retail finance Business. In his last role, Mr. Nayyar was Executive Director of India Infoline Investment Services Ltd and has also worked with Citigroup as a Chief Financial Officer.

Mr. Ashok Shinkar joined Future Capital Holdings Ltd in January 2011 as Corporate Centre Head & CFO: He has earlier been on the Board of Wanbury Limited and has worked with J M Morgan Stanley and SSKI Corporate finance.

About Future Capital Holdings: Future Capital Holdings (FCH) is an NBFC and is in the business of providing financial services across wholesale and consumer businesses. FCH has a unique positioning of a financial services business, integrated with a retail chain. The company intends to build financial superstores within the Retail Stores of Pantaloons Retail India Limited to create India’s first ‘consumer-centric’ retailer of financial products and services.

The company offers business in two segments - Retail Financial Services and Wholesale Credit. Under Retail, it offers Consumer Durable loans, Loans against property, Security and Gold and is in the process of launching new products in the consumer finance and wealth management segments.  In the Wholesale Credit category, its bouquet covers corporate loans for acquisitions, project financing and other wholesale businesses. As of Dec 2010, the company had a Networth of Rs. 754 crores with consolidated profits for 9 months of Rs. 31 crores