Muthoot Finance posted a decent set of earnings in Q1. Asset quality showed a slight hiccup but remained under control.
In an interview to CNBC-TV18, George Alexander Muthoot, MD of Muthoot Finance discussed the company's Q1 performance.
Cost of borrowings reduced to 9.33 percent versus 10.85 percent year-on-year, said Muthoot. However, lending rates have remained stable at 20 percent, he added.
He further said that 95 percent of the book consists of gold loans.
Muthoot said housing finance business is at Rs 600 crore currently. He expects that to reach Rs 1,500 crore and Rs 3,000 crore in the next one year and a year after that.
He expects non-gold book to grow to 9-10 percent of the book versus 5 percent currently.
Watch accompanying video for more details.
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