HomeFinanceShriram Housing Finance AUM to rise at a healthy clip in FY23

Shriram Housing Finance AUM to rise at a healthy clip in FY23

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Assets under management (AUMs) of affordable housing player Shriram Housing Finance are expected to rise over 49% to Rs 8,000 crore in the current financial year, because of investments made by the company in the last six months, Ravi Subramanian, MD and CEO, told FE. The company reported AUMs of Rs 5,355 crore in the previous financial year.

The demand for housing has received a boost after the revival in the economy following removal of of Covid-related restrictions. The average age of borrowers has reduced and people are buying houses after the pandemic and making investments in this segment. The company provides home loans with an average ticket size of Rs 16 lakh.

On the asset quality front, non-performing assets of the company have sharply dropped in the past few months. The gross NPA in the fourth quarter of the previous financial year was at 0.97%, compared with 1.49% in the previous quarter and 1.67% a year ago.

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