Latest News | SRG Housing Finance Aims to Hit Rs 750 Cr AUM Next Fiscal

New Delhi, Dec 10 (PTI) Mortgage firm SRG Housing Finance plans to achieve Rs 750 crore asset under management (AUM) during the next financial year, a top company official has said.

"We have achieved AUM of Rs 500 crore in the last quarter. We hope to achieve the next milestone of Rs 750 crore in 2024-25," SRG Housing Finance Managing Director Vinod Kumar Jain told PTI.

Also Read | Vishnu Deo Sai Appointed as Chhattisgarh CM: From Village Sarpanch to Chief Minister, All You Need to Know About BJP’s Tribal Leader.

The company got listed on bourses in August this year.

Currently, Rajasthan and Gujarat contribute about 60 per cent of its business.

Also Read | ISRO Recruitment 2023: Vacancies Notified for 54 Technician B Posts at isro.gov.in, Know How To Apply.

The mortgage firm plans to expand its footprint in southern states.

The company will also open its branches in Andhra Pradesh, Telangana and Karnataka in the next few months, Jain said.

Also, from April next year, the treasury and pan India business team will work from Mumbai, he added.

During the second quarter of the current financial year, the mortgage firm recorded 20 per cent growth to Rs 5.26 crore compared to Rs 4.39 crore a year ago.

Its total income stood at Rs 31.20 crore, with a growth of 37.90 per cent.

The company's net interest income surged 38 per cent to Rs 13.52 crore from Rs 10.85 crore.

During the September 2023 quarter, the net interest margin (NIM) declined to 2.73 per cent against 3 per cent in the year-ago period.

The decline was due to the rise in the repo rate, Jain said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)