Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,085.10-1.6
Stock Analysis, IPO, Mutual Funds, Bonds & More

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.

, ET Bureau|
Updated: Nov 10, 2017, 12.52 PM IST
0Comments
MUMBAI: Altico Capital, the debt listed non-banking finance company of Clearwater Capital Partners, Abu Dhabi Investment Council and Varde Partners, expects to disburse around Rs 3,000 crore in the second half of 2017-18, supported by a healthy pipeline and sufficient liquidity through its leverage program, said a top company official.

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.

Also Read

NBFC Altico Capital names Sanjay Grewal as its new chief executive

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service