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Bajaj Capital may diversify into lending in 2 years

Press Trust of India  |  Hyderabad 

Bajaj Capital Ltd today said it may diversify into lending in the next two years even as the wealth management company maintained its asset base is expected to touch Rs 1 lakh crore in the next five years.

"We are currently managing about Rs 20,000 crore. We have about one million investors in 100 cities. We have a five -year plan. We are looking to grow our business fivefold (to Rs 1 lakh crore) by 2022," Rajiv Bajaj, vice chairman and managing Director of Bajaj Capital said.

The company's main approach is to use technology so that the reach to people is multiplied which would help achieve the goal of expanding the asset base, he said on the margins on an event organised by the Ladies Organisation.

"Right now we are only into the savings and investment part of business. In the next phase we look at getting into the lending part. We will get into that in the next 18 to 24 months," he said.

Asked whether the company has any plans to set up a bank, he said they do not have any such plans in the next five years.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 13 2017. 17:28 IST