SRG Housing Finance Ltd. (SRGHFL), which primarily caters to rural and semi-urban populace in western and central India, got listed on the National Stock Exchange (NSE) on Monday at ₹262 a share but closed with a loss of 4.02% at ₹245.95.
SRG Housing Finance said it was focused on achieving Assets Under Management (AUM) of ₹750 crore by FY25 as against AUM of ₹474.4 crore as on June 30, 2023.
SRGHFL said it was also planning to expand into newer states such as Karnataka, Tamil Nadu, Telangana and Andhra Pradesh.
Vinod K. Jain, MD, SRGHFL, in a statement said, “Our listing on NSE is a significant milestone as we continue to position ourselves as a strong retail affordable housing finance company with rich expertise and experience leading to sustainable growth.”
“In FY23, we have raised funds of ₹177.40 crore, of which 31% was from PSU banks, 8% from private banks, 46% from Financial Institutions (FIs), and 14% from NHB. The company’s liquidity is strong and Asset Liability Management (ALM) position is also comfortable. We are planning to open more branches in Southern states as well as in existing states,” he said.
“With the expansion of branches, our business per quarter could rise to ₹84 crore. And if we take the average of this run rate, we expect disbursement of around ₹250 to ₹300 crore to be done in FY24. We are focused on achieving ₹750 crore AUM by FY25 with sustainable business metrics,” he added.
