Chandigarh, June 24 (PTI) Asset finance NBFC Shriram Transport Finance Company today said it is eyeing assets under management (AUM) worth Rs 42,000 crore in next two years, with bulk of business originating from pre-owned truck finance.
?We are expecting our AUM to reach Rs 40,000 crore-Rs 42,000 crore in the next 2 years with 70 per cent of business coming from truck finance operations,? company?s Vice President, Rajeev Garg told reporters here today.
In the last four years, the AUM of Shriram Finance grew three-fold from Rs 12,092 crore in 2006-07 to Rs 36,182 crore in 2010-11.
Shriram Finance, which finances trucks between 2 and 12 years old, is expecting that the market of pre-owned commercial vehicles would grow by 15-20 per cent annually.
It intends to expand its marketing network by entering into partnership with private financiers across India involved in commercial financing.
Besides truck finance, the company is also keen on growing its loan book from other emerging segments like lending to commercial equipment, multi-utility vehicles, three wheelers, tractors and passenger commercial vehicles.
The company has already floated Shriram Equipment Finance to look after the new segment.
Southern India is the major market for truck finance business for Shriram as 30 per cent of its business comes from this market only, followed by 25-30 per cent from west, 15-20 per cent from north and rest from east, Garg said.
The Gross NPA of the company stood at 2.66 per cent while its net NPA was 0.38 per cent of its total loan in 2010-11. PTI CHS
Article source: http://in.news.yahoo.com/shriram-finance-eyes-aum-rs-42-000-cr-111100826.html
Source: http://loans.ismyblogs.name/shriram-finance-eyes-aum-of-rs-42000-cr-in-two-years/
anna nicole smith melissa molinaro team fortress 2 brooklyn decker florence and the machine kyrie irving orlando magic
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.