Altico expects to lend Rs 3,000 crore in H2: CEO Sanjay Grewal
Altico's loan book of Rs 4,371 crore as of September end is diversified across seven cities with last-mile financing forming close to 50% of its portfolio.
The real estate-focused NBFC has closed 11 deals worth around Rs 1,500 crore in the half year ended September. Its loan book size expanded to Rs 4,371 crore as on September end against Rs 3,675 crore at the end of the financial year 2016-17.
“We expect to end FY18 with an upward of a $1-billion balance sheet, setting a strong base for our ambitious $2 billion plus business plan by FY20 wherein we would provide end-to-end solutions in real estate and other adjacent sectors,“ said Sanjay Grewal, chief executive officer, Altico Capital.
Altico's loan book of Rs 4,371 crore as of September end is diversified across seven cities with last-mile financing forming close to 50% of its portfolio. Over the last 12 months, it has also forayed into commercial real estate lending with current exposure being 10% of the overall loan book, with the same expected to grow to 20-25% in next 12-18 months. Altico's key focus has been affordable and mid-income housing that currently make up more than 52% of portfolio.
Altico Capital has reported a 48% on-year jump in net profit at Rs 173 crore for the half year ended September.Revenue for the period also increased 80% to Rs 429 crore.