Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24

Sequentially, Poonawalla Fincorp's AUM expanded by 8 per cent over in the second quarter ended September 2023

Poonawalla Fincorp Ltd’s Assets under Management rose 57 per cent Year-on-Year (YoY) to about Rs 21,850 crore in the third quarter ended December 2023 (Q3FY24) on the back of robust disbursements.

Sequentially, its AUM expanded by 8 per cent over in the second quarter ended September 2023 (Q2FY24), according to a filing with the BSE. Its AUM was at Rs 20,215 crore at the end of September 2023.

The Pune-based non-banking finance company has guided for tripling of the AUM by end of FY25 from base a of Rs 14,225 crore at end of March 2021.  

Total disbursements during Q3FY24 were up 159 per cent YoY at approximately Rs 8,730 crore from Rs 3,369 crore in Q3FY23. Sequentially, disbursements were up 12 per cent over Rs 7,807 crore in Q2FY24.

As for asset quality, the NBFC said its standing on Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) is expected to improve further. "We would strive to maintain the NNPA below 1 per cent in line with the Management Vision 2025," it added. GNPAs were at 1.69 per cent and NNPAs at 0.89 per cent a year ago (December 2022).

Its GNPA stood at 1.36 per cent and NNPA at 0.72 per cent at end of September 2023.

The company continues to have ample liquidity of approximately Rs 2,875 crore as of December 2023, it added.