Shriram City Union Finance plans Rs 23k cr disbursements in FY22
ECONOMY & POLICY

Shriram City Union Finance plans Rs 23k cr disbursements in FY22

Shriram City Union Finance is observing overall disbursements of Rs 22,000-23,000 crore in the ongoing financial year (FY).

Throughout the first quarter of 2021-22, the banking company spent Rs 4,560 crore compared to Rs 6,570 in March 2021 quarter.

Y S Chakravarti, the CEO and Managing Director, told the media that July 2021 was better than June, with expenses crossing over Rs 3,000 crore.

In July, even the collection performance reached close to 100% compared to 93% in June.

Chakravarti revealed that on average, the expenses are nearly Rs 6,200-6,300 crore per quarter. He said in the remaining three quarters, they expect to reach around Rs 18,000-19,000 crore and would end up with Rs 22,000-23,000 crore.

The lender gives finance to segments comprising small and medium enterprises (SME), personal loans, gold loans, two-wheelers, and loans against property.

Another big part for the lender is financing a two-wheeler, which is nearly 26-27% of its entire loan portfolio. He expects to spend around Rs 1,500-1,600 crore in the two-wheeler part in the second quarter of the ongoing fiscal.

The quarter ended in June 2021, the lender recorded a profit after tax of Rs 208 crore compared to Rs 192 crore in the year-ago period. Its asset quality was enhanced year-on-year, by gross stage 3 levels at 6.91% in Q1 FY22 as against 7.28% in the corresponding quarter of the last fiscal.

Image Source


Also read: Shriram Transport Finance to raise Rs 500 cr via QIP

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Shriram City Union Finance is observing overall disbursements of Rs 22,000-23,000 crore in the ongoing financial year (FY). Throughout the first quarter of 2021-22, the banking company spent Rs 4,560 crore compared to Rs 6,570 in March 2021 quarter. Y S Chakravarti, the CEO and Managing Director, told the media that July 2021 was better than June, with expenses crossing over Rs 3,000 crore. In July, even the collection performance reached close to 100% compared to 93% in June. Chakravarti revealed that on average, the expenses are nearly Rs 6,200-6,300 crore per quarter. He said in the remaining three quarters, they expect to reach around Rs 18,000-19,000 crore and would end up with Rs 22,000-23,000 crore. The lender gives finance to segments comprising small and medium enterprises (SME), personal loans, gold loans, two-wheelers, and loans against property. Another big part for the lender is financing a two-wheeler, which is nearly 26-27% of its entire loan portfolio. He expects to spend around Rs 1,500-1,600 crore in the two-wheeler part in the second quarter of the ongoing fiscal. The quarter ended in June 2021, the lender recorded a profit after tax of Rs 208 crore compared to Rs 192 crore in the year-ago period. Its asset quality was enhanced year-on-year, by gross stage 3 levels at 6.91% in Q1 FY22 as against 7.28% in the corresponding quarter of the last fiscal. Image Source Also read: Shriram Transport Finance to raise Rs 500 cr via QIP

Next Story
Infrastructure Transport

Shiv Murti-Nelson Mandela Tunnel Faces Environmental Concerns

Residents of South Delhi have raised concerns over the proposed tunnel between Shiv Murti interchange on NH-48 and Nelson Mandela Marg in Vasant Kunj, fearing it could harm the local forest, environment, and potentially damage houses in the area. The Delhi Pollution Control Committee (DPCC) presented these concerns in a report to the Union Environment Ministry, following public hearings conducted in September. The ministry will decide whether to grant environmental clearance for the project, with construction slated to begin in July 2025. The tunnel, planned by the National Highways Authorit..

Next Story
Infrastructure Transport

Government Plans Metro Expansion in Hyderabad's North City

The residents of North Hyderabad are set to benefit from the Telangana government's plan to expand the city's metro network to Medchal and Shamirpet. Chief Minister Revanth Reddy has instructed officials to prepare Detailed Project Reports (DPRs) for two new metro corridors as part of this major expansion project. As per the CM's directive, the DPRs must be completed quickly and incorporated into Phase-2B of the metro project. Once finalised, the reports will be submitted to the central government for approval. The proposed extensions include: Extending the metro line from Paradise to Medchal...

Next Story
Infrastructure Transport

BRS Calls for Revival of Raidurg to Shamshabad Metro Corridor

BRS leaders have urged the Telangana government to reinstate the metro rail corridor from Raidurg to Shamshabad, a project originally proposed by the previous BRS administration. They also requested the establishment of a clear deadline for completing Phase II of the metro project, particularly the northern city stretches. Additionally, they suggested implementing a double-decker metro system for the Jubilee Bus Station to Shamirpet corridor. During a press conference at Telangana Bhavan, BRS MLAs KP Vivekananda and Marri Rajasekhar Reddy, along with former MPs Balka Suman and B Vinod Kumar, ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000