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In their first interaction with analysts on business plans of Reliance Capital, Chairman Anil Ambani and his son Anmol will brief them tomorrow on the path ahead for the group's financial services business.
Speaking to CNBC-TV18, Sam Ghosh, ED and group CEO at Reliance Capital said that the company will reduce its debt through stake sales and intends to bring down to Rs 5,000 crore in FY18.
In next one or two quarters, stressed asset levels will come down to 3.2-3.3 percent, said Sam Ghosh, ED & Group CEO of Reliance Capital.
In an interview to CNBC-TV18, Sam Ghosh, ED & Group CEO of Reliance Capital says, gross non-performing assets (GNPAs) have almost peaked and things will likely improve from here.
Nippon Life's total investment has reached Rs 8,630 crore for acquiring 49 percent stake each in Reliance Life Insurance and Reliance Capital Asset Management.
Sam Ghosh, Executive Director & Group CEO of Reliance Capital expects to end the curent financial year with an asset under management (AUM) of over Rs 160,000 crore, compared to Rs 156,000 crore as on December 31. He, however, believes that MF customers with bulk funds could stay away in the near term.
The company would like to keep the debt to equity ratio at 1.8, said Sam Ghosh, ED & Group CEO, Reliance Capital.
The company saw its housing finance AUM rise by nearly 70 percent year-on-year to Rs 6,500 crore as on September 30, 2015 and it expects to touch Rs 10,000 crore by the end of the current fiscal. Reliance Housing Finance is a 100 percent subsidiary of Reliance Capital, the financial services arm of Reliance Group.
The company will exit non-core businesses and reduce debt using those funds leading to a 15-20 percent increase in profitability by next year, says Sam Ghosh, ED & Group CEO, Reliance Capital.
Reliance Capital is part of Anil Ambani-led business conglomerate Reliance Group and is present in insurance, mutual fund, broking and non-banking finance businesses among others.
The fund raised through the deal with Nippon Life would be used to grow NBFC business and reduce debt, said Sam Ghosh, CEO, Reliance Capital.
Reliance Capital is the parent firm of Reliance MediaWorks, which operated cinema chains under the brand 'BIG Cinemas' with over 250 screens across the country.
Within minutes of Parliament approving higher foreign investment in insurance sector, a number of insurers including from Bharti, Reliance, Max and SBI groups said their overseas partners will raise their stakes in respective JVs to 49 percent.
Sam Ghosh, CEO of Reliance Capital says Sumitomo MTB is coming in as a strategic partner to see how the company can get into universal banking together as well as get into other areas of financial services space.
Financial services major, Reliance Capital reported 28 percent rise in its third quarter net profit at Rs 213 crore on robust growth in insurance and mutual fund businesses. The total income for the quarter ended December 2014 rose 11 percent to Rs 2,105 crore.
Sam Ghosh says there is tremendous potential in the health insurance business. Nearly, 25 percent of the overall portfolio today is health insurance.
In an interview to CNBC-TV18, CEO Sam Ghosh, discusses the company‘s results and its future plans.
In an interview to CNBC-TV18, Sam Ghosh, CEO, Reliance Capital spoke about the company‘s second quarter performance and the road ahead.
Reliance Capital on Monday posted nearly three-fold rise in consolidated net profit at Rs 133 crore for the first quarter ended June, 2013 on the back of all-round growth.
With the RBI and government curbing gold imports, the mutual fund and jewelry industry have taken a hit. Reliance capital has pulled the plug on its gold products. The jewelry industry is asking the government for safeguards. Reports CNBC-TV18‘ Manasvi Ghelani and Farah Bookwala.
Reliance Capital is suspending sale of gold in physical form, including supply of gold coins through India Post and its asset management arm will also suspend new subscriptions in Reliance Gold Savings Fund.
Speaking to CNBC-TV18, Sam Ghosh, CEO of Reliance Capital says he expects the general insurance business to turn profitable in FY14.
Sam Ghosh of Reliance Capital explains on CNBC-TV18, after the announcement of quarterly results, that the company was able to post a profit of over Rs 100 crore due to an effective turnaround in each of its businesses.
Financial services major Reliance Capital group has begun talks to sell 26 per cent equity in its general insurance arm to a foreign partner, and is open to selling further stake in life insurance and mutual fund units.
Sam Ghosh, CEO, Reliance Capital explains to CNBC-TV18 that though the company made an overall profit of Rs 400 crore, booking the whole year's third-party motor provisioning in the quarter caused a loss of Rs 120 crore in the general insurance business.
