Shriram Housing Finance's AUM above Rs 5,000 cr
Emerges as fastest among housing finance players with growth in disbursements by 95% in FY2021 and 36% in 9MFY22
Shriram Finance resumes efforts to sell stake in subsidiary Shriram Housing Finance
Hyderabad: Shriram Housing Finance Limited, leading housing finance company of the Shriram Group, on Tuesday announced that the company's Assets Under Management (AUM) crossed Rs5000 crore as of February 2022. The company has grown the fastest among affordable housing finance players, growing the AUM by 47 per cent in nine month FY2022 and 45 per cent in Apr-Feb 2022.
Ravi Subramanian, MD and CEO, Shriram Housing Finance, said: "We have aimed to become one of the dominant players in the affordable housing finance segment. The company's AUM has grown ahead of the market to over 3x in the last 3 years, from Rs1500 crore to cross Rs5000 crore. Our NPAs have dropped from 5.6 per cent to under 1.5 per cent during the same period. Despite Covid-19 disruptions, disbursements grew by 95 per cent in FY2021 and 36 per cent in 9MFY22, and NPAs dropped to the lowest in 8 years. There continues to be a huge opportunity in the emerging middle-class segment, and we would draw synergies from the distribution strength of our group's network to reach out to this segment."
A significant part of the demand is coming from the households that belong to the lower end of the income spectrum, especially where the sources of employment and income remain informal. Consumer awareness in this section is now increasing and they are gradually moving away from unorganized lenders. The Company provides home loans with an average ticket size of Rs16 lakh. Shriram has provided affordable home loans to over 1 lakh customers till date, starting long before the government's 'Housing for All' mission. The Company provides home loans with an average ticket size of Rs16 lakh.
