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    HomeNewsBusinessCompaniesMuthoottu Mini looks at 60% sales growth this fiscal at Rs 4,000cr

    Muthoottu Mini looks at 60% sales growth this fiscal at Rs 4,000cr

    Kochi-based mid-sized gold loan player Muthoottu Mini Financiers is looking to grow its loan sales by over 60 percent in this fiscal to around Rs 4,000 crore as it embarks on a faster expansion.

    PTI
    July 10, 2022 / 14:00 IST
    Muthoot Finance | CMP: Rs 1,065 | The stock price gained over 2 percent after the Reserve Bank of India granted permission for opening 150 new branches for the company.

    Kochi-based mid-sized gold loan player Muthoottu Mini Financiers is looking to grow its loan sales by over 60 percent in this fiscal to around Rs 4,000 crore as it embarks on a faster expansion.

    The company, hailing from the same Muthoot family, closed FY22 with over 25 per cent growth and an AUM of Rs 2,500 crore which grew from Rs 1,994 crore in the previous fiscal.

    The larger family entity Muthoot Finance is a listed company with over Rs 60,000 crore of AUM while the other one Muthoot Fincorp is the third-largest player with around Rs 10,000 crore of live loans.

    The average loan growth rate in the previous three years was 22 per cent, and improved to 25 per cent in FY22 and hopes to clip at over 45 per cent this fiscal.

     

    PTI
    first published: Jul 10, 2022 02:00 pm

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