Expect to grow AUM by Rs 1000cr in Q4: Manappuram Finance

10929 Investors following Manappuram. Share this News with them.

0

Like this story, share it with millions of investors on M3

Expect to grow AUM by Rs 1000cr in Q4: Manappuram Finance

VP Nandakumar, chairman and managing director of Manappuram Finance & Leasing in an interview to CNBC-TV18 said, the company aims to grow its assets under management (AUMs) by another Rs 1,000 crore in Q4.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See latest News about Manappuram See previous management interviews See what other Experts & Brokerages are saying about Manappuram

VP Nandakumar, chairman and managing director of Manappuram Finance & Leasing in an interview to CNBC-TV18 said, the company aims to grow its assets under management (AUMs) by another Rs 1,000 crore in Q4.

Its AUM currently stands at Rs 12,358 crore. "It may reach around 13,500 crore in Q4, Nandakumar said.

The company's AUM grew by 90% and PAT rose by 117% in the third quarter.

"Compared to Q3 last year our income has grown by 120% to Rs 7 crore 26 lakh, income from operation Rs 726 crore, profit before tax is Rs 239 crore and profit after tax is Rs 151 crore, he added.

The company is hopeful maintaining its margins at 12% ahead.

Below is the edited transcript of Nandakumar's interview with CNBC-TV18. Also watch the accompanying video.

Q: Can you tell us what you have done by way of profits and revenues?

A: Our assets under management have grown 90% and profit after tax has grown by 117%.

Q: What is that profit number?

A: Compared to Q3 last year our income has grown by 120% to Rs 7 crore 26 lakh, income from operation Rs 726 crore, profit before tax is Rs 239 crore and profit after tax is Rs 151 crore. Our asset under management has grown by 90% from 6,500 to 12,358 crore, so that's an increase of 90%. Our disbursal has grown by 86% from 5,575 crore to 10,371 crore.

Q: What are the kind of margins you operate with, what is the cost of money for you, what do you typically charge and therefore what is your spread?

A: Our cost of fund is around 12.5% and our gross yield is around 25%, so we have spread of more than 12%.

Q: What kind of growth in business you expect in the Q4?

A: We will grow by another Rs 1,000 crore.

Q: You assets under management would go to about 8,000 crore?

A: No, assets under management is now 12,358 crore, it will grow by another 1,000 crore means it may reach around 13,500 crore.

Q: You expect to maintain your margins at 12%?

A: Yes, we expect to. We expect the interest is to cool down in the near future.