Capri Global Capital eyes ₹3,000 crore gold loan portfolio by end-FY24
Capri Global Capital is well-positioned to continue its growth trajectory, the company's Managing Director told CNBC-TV18.
Capri Global Capital, a financial services provider, is poised for growth in its assets under management (AUM) across various sectors, per the company's Managing Director, Rajesh Sharma.
Sharma said the company's gold loan portfolio is expected to reach ₹3,000 crore by the end of the fiscal year 2024.
In addition to the gold loan portfolio, Capri Global Capital is focusing on the car loan sector, which is not considered a balance sheet item. It is part of fee income for the company.
“For the whole year, we expect to do about ₹10,000 crore of car loan disbursal and we expect to make a fee income of close to ₹250 crore,” Sharma said highlighting their expectations for earnings from car loans.
Capri Global Capital’s Micro, small, and medium enterprises (MSME) portfolio has surged by 30% compared to the previous year and grown by 3.5% on a quarter-on-quarter basis.
Sharma said, “The MSME portfolio, backed by collateral, should see a growth of 25% on a yearly basis.”
In March of this year, Capri Global Capital successfully raised capital of approximately ₹1,440 crore through a rights issue. Sharma noted that the company presently has adequate capital at its disposal and has no immediate plans to raise additional funds.
“There is adequate capital available, and we don't have any plans to raise capital. In fact, the company does not require additional capital for the next 12 months,” Sharma explained.
As part of its expansion strategy, Capri Global Capital has activated approximately 740 branches - nearly two branches every day in the past year.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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