Shriram Finance eyes ₹3 trillion total AUM, 10 million customers

Shriram Finance expects its assets under management (AUM) to exceed ₹3 trn by FY26, anticipates reaching 10 mn live customers in Q2. Umesh Revankar discusses growth drivers and future projections

Shriram Finance, one of India’s largest retail non-banking financial companies, expects its total assets under management (AUM) to cross ₹3 trillion by the end of this financial year, up from ₹2.72 trillion now. Its live customer base is also likely to hit 10 million within the current quarter (Q2), said a senior company executive.

 

“If you calculate a growth rate of 15 per cent, then we should reach ₹3 trillion by the end of this financial year. This quarter itself, we will clock 10 million live customers, up from 9.7 million now — these are customers who are actively paying instalments,” said Umesh Revankar, executive vice-chairman, Shriram Finance.

 

This would mark an over 75 per cent jump in AUM from ₹1.71 trillion, and a 49 per cent rise in the customer base from 6.7 million in December 2021, when the merger of Shriram Capital and Shriram City Union Finance with Shriram Transport Finance was announced to create the current Shriram Finance.

 

The merger was part of a broader restructuring of Shriram group, which later divested its housing finance arm to Warburg Pincus to focus on its core vehicle and retail lending business. The group’s structure was further streamlined this year through the exit of Piramal group. 

 

At the end of the first quarter (Q1) of 2025-26 (FY26), the company’s AUM had grown 16.62 per cent to ₹2.72 trillion, from ₹2.33 trillion in the April-June quarter of 2024-25 (FY25).

 

“When the product suite expands, you can retain existing customers — those who need multiple products. That’s how we’ve grown our customer base. It also helped improve our margins. Overall, it’s a win-win,” said Revankar.

 

Shriram Finance posted a consolidated net profit of ₹2,159.39 crore in Q1FY26, up 6 per cent from ₹2,030.64 crore in the April–June quarter of FY25. Total income rose 20 per cent year-on-year to ₹11,542.44 crore, compared to ₹9,609.71 crore in the same quarter last financial year.

 

Revankar said increased activity in the agriculture sector could support stronger performance in Q2.

 

“The quarter went well. On all parameters, the company performed strongly. There’s been a slight improvement in asset quality. I wouldn’t say the environment was difficult, but growth in Q1 was a little slower than expected — I attribute that to the early onset of the monsoon,” he said.

 

“In a way, that’s good, because it gives you an advantage in Q2. We’re already seeing higher average cultivation. The benefits should start showing up after Ganesh Chaturthi in August. So Q2 could see some positive impact,” he added.

 

He also noted that government spending on infrastructure projects is expected to pick up in the coming quarters.

 

“I think the government will start pushing infrastructure projects from next month. Rural demand is also likely to rise. All this should drive up demand for commercial vehicles,” Revankar said.