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Repco Home Finance Ltd.âs, (RHFL) Board has approved plans to reach â¹20,000 crore Assets Under Management (AUM) by FY27 from â¹13,185 crore now, CEO K. Swaminathan said during an interaction.
RHFLâs Board also approved plans to add 40 branches annually to the existing 166 and bring down gross non-performing asset to less than 2% from 4% now.
âIf the company benefits due to external factors, like government schemes on affordable housing, the growth could be much higher, with AUM reaching almost â¹25,000 crore by 2027,â added Mr. Swaminathan.
While RHFL would miss its disbursal target of â¹3,600 crore for FY24, the company plans to grow at 12% for this fiscal, and 14%, 17% and 20% in the coming years.
50% of new branches would be in Tamil Nadu, RHFLâs core market, but states where the company has presence like Gujarat are also being explored.
Currently, the company has 57% of its branches in Tamil Nadu. The company plans to maintain this presence so as not to lose its grip in its core market. However, it will be eyeing tier-2 and 3 cities in its expansion plans.
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