According to the company's executive director & deputy CEO I Unnikrishnan, the home loan market is worth Rs 8,20,000 crore and is growing at a CAGR of 19 percent. With the company's huge customer base of 1.5 million, Manappuram believes that it can play a crucial role in this field.
NPL asset is at around 1.56 percent. This was around 1.10 percent as of March. The company expects to maintain net interest income (NII) at around Rs 287 crore because it plans to consolidate this year
I Unnikrishnan, Managing Director of Manappuram General Finance & Leasing is not hopeful of any significant growth in FY13. According to him, this fiscal is going to be flat.
Gold loan financing company Manappuram Finance has reported a better than expected growth of 83.3% year-on-year in its net profit of Rs 187 crore for the fourth quarter of financial year 2011-12.
The competition gets tougher for non-banking finance companies or NBFCs, tapping public money to meet their funds requirement through non-convertible debenture issues.
Pure-play gold loan company Manappuram Finance has joined a growing breed of financiers opting to raise debt in a rising interest rate regime and increasing market volatility, and said it will raise Rs 750 crore through from bond issue.
Gold financing company Manappuram Finance is looking to raise Rs 6,000 crore in next one year to expand its loan book from the current Rs 9,000 crore (till June quarter) to Rs 15,000 crore. The non-banking finance company on Thursday announced the launch of its maiden non-convertible debentures or NCDs issue to raise Rs 750 crore.
Loan-against-gold firm Manappuram Finance plans to raise Rs 750 crore through its maiden retail non-convertible debenture issue to fund its growth plans. The issue may be launched in July with a tentative coupon size of 11-12%.