Despite Q4 surge, securitisation volumes fall short of Rs 1 trn in FY21

Securitisation deals in Q4FY20-21 amounted to Rs 40,000 crore, to become the highest-grossing quarter for the 2020-21 fiscal year. But despite this last-quarter surge, volumes were lower than the psychological Rs 1-trillion mark, down from the Rs 1.9 trillion clocked in each of the preceding two fiscal years.
 
Asset-backed securitisation (ABS) deals accounted for nearly two-thirds of securitised volumes. Mortgage-backed securitisation (MBS) issuances, with underlying home loans and loans-against-property, made up for the rest, with investors drawing comfort from stable collection efficiency in MBS pools in the post-moratorium period.