Shriram Housing Finance looking at 50-60% hike in loan disbursement in FY21
Mortgage lender Shriram Housing Finance is looking at around 50-60 per cent increase in loan disbursement to Rs 1,800 crore in the current financial year, a top company official said.
The company, promoted by Shriram City Union Finance, had disbursed Rs 1,127 crore in the fiscal ended March 31, 2020.
In the first quarter, we didn’t do much business. Despite that, in FY21, we will do about 50-60 per cent more business than what we did in FY20. We will end this year with a disbursement of Rs 1,800 crore, the company’s managing director and CEO Ravi Subramanian told PTI.
In the first quarter of the current fiscal, the housing financier disbursed Rs 77.4 crore, a decline of 68.1 per cent year-on-year, owing to the nationwide lockdown imposed to contain the spread of the coronavirus.
In the second quarter of FY21, it disbursed around Rs 520 crore, which was 20-25 per cent more than what it disburses in every quarter, he said.
The biggest tumbling block was COVID-19 in Q1, but we have c