The Repco Home Finance stock has been making a 52-week low every week post their Q3FY18 results. Asset quality has deteriorated in the loan against property segment (LAP) and amongst self-employed customers.
In an interview with CNBC-TV18, R Varadarajan, MD, Repco Home Finance spoke about the latest happenings in his company and sector. He was speaking from the side-lines of the Kotak India Conference.
Asset quality deteriorated during Q3, it was not at the expected level but we are seeing good amount of recovering happening during the current quarter, he said.
We are putting all our efforts to bring down the gross non-performing assets (GNPAs) from the level of 3.7 percent to 2.5 percent. We believe it is a doable thing, he added.
We are seeing recoveries happening in LAP segment as well and we should be able to show good improvement there also, said Varadarajan.
On disbursement growth, he mentioned that for the current quarter we are expecting sequential and year-on-year improvement in the disbursements but FY19 and FY20 our disbursement and loan growth will be around 20-25 percent.
For full interview, watch accompanying video...
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