For the quarter from October to December of FY23, Fullerton India Credit Company (Fullerton India), a major NBFC, reported a profit of Rs. 551 crore (Q3FY23).
Additionally, total expenditures increased 41% year over year (YoY) to Rs 19,500 crore in the first nine months of FY23 (9MFY23).
Additionally, the company reported a 34 per cent surge in assets under management (AUM) to Rs 34,140 crore in 9MFY23, while its profit was registered 5.2 times higher than FY22 at Rs 551 crore.
Furthermore, the company's home finance segment saw a 77 per cent increase in total disbursals in 9MFY23 to Rs 2,274 crore, with 'Grihashakti AUM' at the end of 9MFY23 being 38 per cent higher than FY22 AUM at Rs 6,164 crore.
According to the management, the company's emphasis on providing customers with affordable housing finance is the reason for the increase in total disbursals of the housing finance segment.
According to Deepak Patkar, CEO & MD of Fullerton India Home Finance Company, "strategic moves like shifting to own sourcing, enhancing our footprint across key markets like Maharashtra, Tamil Nadu, Gujarat, and Punjab, and focusing on affordable home loans; have transformed Grihashakti and have set this business on a paced growth trajectory" (Grihashakti).
SMFG Group member Fullerton India is registered with the Reserve Bank of India as an NBFC - Investment and Credit Company (NBFC-ICC).
The company's main services include funding for SME working capital and expansion, loans for commercial vehicles and two-wheelers, loans for home improvements, loans secured by property, and personal loans, among many others.
0 Comments