SRG Housing Finance plans to surpass Rs 1,000 cr AUM in 3-4 next years

The loan disbursement of the company in the entire FY23 stood at Rs 191 crore which the management project to move towards Rs 250 to 300 crore in FY24

SRG Housing Finance Ltd, recently listed on the exchanges, has laid out plans to surpass Rs 1000 crore in Assets Under Management (AUM) over the next three to four years, according to its Chief Executive Officer, Archis Jain. The company's goal is to achieve AUM worth Rs 750 crore by the end of the financial year 2024-25, leveraging sustainable business metrics. The current AUM for the housing finance company stands at Rs 474.4 crore.

"We are planning to open more branches in Southern states as well as in existing states. We plan to start operations in newer states such as Karnataka, Tamil Nadu, Telangana, and Andhra Pradesh in this financial year and expand to other parts of the country by the next financial year, FY25," said Vinod K. Jain, Managing Director of SRG Housing Finance Limited.

The company's loan disbursement for the entire financial year 2023 stood at Rs 191 crore, and the management projects this to rise to between Rs 250 and Rs 300 crore in FY24.

SRG is likely to consider fundraising only in the next financial year. In FY23, the company raised funds worth Rs 177.40 crore, with 31 per cent coming from Public Sector Undertaking (PSU) banks, 8 per cent from private banks, 46 per cent from Financial Institutions (FIs), and 14 per cent from the National Housing Board (NHB).

"Being the first company in Rajasthan to get registered with the National Housing Board (NHB) to focus on small ticket loans, we have showcased steady growth in AUM as well as best-in-class Net Interest Margins (NIMs). We recorded the highest ever disbursement in any quarter in Q1FY24," the company added.