Looking to grow gold portfolio at 10% for FY19, says Manappuram Finance

The Manappuram Finance board has approved their business plan for FY19. In an interview to CNBC-TV18, VP Nandakumar, MD & CEO of Manappuram General Finance spoke at length about the plan and gave his outlook for the future.

Nandakumar said that the broad business plan is that we are looking to grow consolidated assets under management (AUM) at 20 percent for FY19 and to grow gold portfolio at 10 percent for FY19.

He further said that we are hopeful of improvement in microfinance book and expect a growth of 25-30 percent in FY19 for microfinance owing to low base.

Commercial vehicle and two-wheeler loans to double in FY19 versus FY18, he added.

We also expect cost of funds to increase by 50 bps in FY19, said Nandakumar.

For entire interview, watch accompanying video.