Satin Creditcare eyes 15-20% AUM growth in FY23, says CMD

Singh said the merger of Satin Creditcare’s 2 wholly owned subsidiaries, Taraashna Financial Services with Satin Finserv, was expected to beryllium completed by March-end.

By Piyush Shukla

Satin Creditcare Network, whose committee approved raising Rs 225 crore connected Monday, volition usage these funds to make 15-20% year-on-year maturation successful its assets nether absorption (AUM) successful 2022-23, president and managing manager HP Singh told FE.

“We are looking astatine astir 6-8% [AUM] maturation for this twelvemonth (FY22) since we person mislaid a 4th technically if you look astatine the lockdown and everything. But FY23 what we are looking astatine is full-blown maturation of astir 15-20%,” Singh said.

At the extremity of September, Satin Creditcare’s AUM stood astatine Rs 7,381 crore, down 3.7% connected year. Of this, 9.7% comprised of non-microfinance loans. The stock of non-microfinance (non-MFI) portfolio volition summation to 15% by FY23-end, Singh said. “The wide strategy is that successful the adjacent five-six years, astatine slightest one-third of our publication should comprise of secured lending and which is non-MFI,” helium said.

In presumption of collections, Singh said broadly the inclination has been akin to pre-Covid levels and if determination is nary important disruption, collections volition enactment astatine 97-98%.

Singh said the merger of Satin Creditcare’s 2 wholly owned subsidiaries, Taraashna Financial Services with Satin Finserv, was expected to beryllium completed by March-end.

He said going ahead, Satin Housing Finance volition lone enactment with location owe loans, portion each caller plus classes, including the contiguous concern analogous concern of Taraashna Financial and micro, tiny and mean enterprises loans, volition beryllium connected Satin Finserv’s indebtedness book.