Muthoot Fincorp AUM will cross Rs 27,000 crore in FY25, says CEO

CHENNAI: Non-banking financial company Muthoot Fincorp will exceed an assets under management (AUM) of Rs 25,000 crore in the current fiscal, its CEO Shaji Varghese said. Its loan assets stood at Rs 23,552 crore in the quarter ended Sept 30, 2024.

"We are growing at 17% YoY and will cross an AUM (own book) of Rs 25,000 crore by the current financial year end. Further, we are also optimistic about reaching Rs 27,000 crore of AUM during this fiscal of FY25," he told reporters in Chennai on Friday.

While the company's flagship gold loan accounted for 89% of its total portfolio, the share of non-gold loan products including loan against property (LAP) and digital lending was at 11%. Recently, it launched the channel financing facility on a pilot basis for shopkeepers.

"The share of non-gold portfolio will increase to 20% over the next three years," he added.

Muthoot Fincorp, which has 3,707 branches across the country, is looking for growth in the north Indian states.

According to Varghese, the company is experiencing significant business growth in the northern states including Uttar Pradesh, Bihar and Rajasthan. "We will be expanding our footprint in these states with additional branches," he said.


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