BUSINESS

‘NBFCs may see growth revive in FY22’

Growth in assets under management (AUM) of non-banking financial companies, or NBFCs (excluding infrastructure NBFCs), and housing finance firms will revive in FY22 to about 7-9% vis-a-vis a flat performance during FY21, said ICRA.

The findings were based on a survey conducted across 60 NBFCs, which together account for more than 50% of the sectoral AUM and about 23 investors.

“Growth in FY22 is envisaged to be driven by the improvement in demand from all the key target segments vis a vis current fiscal, which was impacted by the COVID-19 lockdown,” said A. M. Karthik, V-P, sector head financial sector ratings, ICRA.