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Shubhalakshmi Finance aims nearly three-fold jump in loan disbursement

Currently, it said, the NBFC has a presence across seven states

Press Trust of India  |  New Delhi 

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Shubhalakshmi Finance, a non-banking company (NBFC), aims to nearly triple its loan book size to Rs 400 crore during the current financial year. During the last financial year, the company had disbursed loans to the tune of Rs 150 crore.

To meet the rising loan demand, the will raise funds from a set of banks, both public and private, Shubhalakshmi said in a statement. The company is also planning to expand operations in 2-3 more states and recruit 200 people at various levels, it said.

Currently, it said, the has presence across seven states, including Delhi NCR, Punjab, Haryana, Uttar Pradesh, Himachal Pradesh, Chandigarh and Bihar.

Shubhalakshmi has a customer base of around 45,000 and average ticket size of the loan is around Rs 50,000. The networth of the stood at Rs 20 crore as on March 31, 2019.

First Published: Sat, July 13 2019. 20:25 IST