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Profectus Capital sees loan book at ₹4,500 crore this fiscal
Mint Mumbai
|August 23, 2023
Non-bank financier Profectus Capital, which lends to small businesses, wants to fund newer areas aligned to the government's incentivized local manufacturing scheme and grow its book to ₹4,500 crore by end of this fiscal, chief executive officer K.V.Srinivasan said
Founded in 2017 by Srinivasan, who was earlier the chief executive of Reliance Commercial Finance, Profectus is backed by private equity firm Actis. "We should cross ₹4,000-4,500 crore by the end of this financial year. Ultimately, by about FY26, we should touch ₹10,000 crore," Srinivasan said in an interview.
Its loan book stood at ₹2,363 crore as on 30 June, up 47% from the same period last year.
The lender made a profit of 10 crore, on the back of ₹93 crore in revenues in the June quarter and its stage 3 ratio or bad loan ratio was at 1.53% in Ql this year, up from 0.88% in Ql of FY23.
This story is from the August 23, 2023 edition of Mint Mumbai.
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