Ugro Capital aims to double loan book to nearly Rs 7,000 crore in FY23
Small businesses-focused lender Ugro Capital on Monday said it aims to double its loan book to around Rs 7,000 crore by the end of this fiscal as it expands co-lending tie-ups.
At present, the NBFC (Non-Banking Finance Company) has a loan book of Rs 3,650 crore, growing from Rs 1,375 crore a year ago on the back of a record disbursal of Rs 1,359 crore in the first quarter of FY22, Shachindra Nath, chairman and managing director, told PTI.
He said along with the loans originated through its platform, the company's cumulative assets is around Rs 6,300 crore. Currently, 21 per cent of its Asset Under Management (AUM) is raised through the origination route and he expects this to touch 35 per cent by the end of this fiscal. In the June 2021 quarter this was only 2 per cent of the total AUM.
Going forward, the company's lending model will be led by co-origination, he said, adding the current off-book AUM stands at Rs 750 crore which is 21 per cent at the end of June.
The company plans t