HomeEarnings NewsMuthoot Finance expects 5% growth in Q3, Q4, says housing finance to grow in calibrated manner

Muthoot Finance expects 5% growth in Q3, Q4, says housing finance to grow in calibrated manner

Muthoot Finance expects 5 percent quarter on quarter (QoQ) growth in Q3 and Q4, George Alexander Muthoot, managing director (MD), told CNBC-TV18.

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By Sonia Shenoy   | Surabhi Upadhyay   | Prashant Nair  November 8, 2021, 2:51:46 PM IST (Published)

Muthoot Finance expects 5% growth in Q3, Q4, says housing finance to grow in calibrated manner
Muthoot Finance expects 5 percent quarter on quarter (QoQ) growth in the third and fourth quarter of fiscal 2021, George Alexander Muthoot, managing director (MD), told CNBC-TV18 on Monday. 


He added that the housing finance portfolio will grow in a calibrated manner.

The largest gold loan non-banking financial company (NBFC) in the country reported mixed earnings for the September 30 ended quarter as assets under management growth returned sequentially but the housing finance subsidiary continued to remain under pressure.

Also Read: Bharat vs India home loans: Why affordable segment needs more attention?

“Gold price is not a matter of big concern for us or does not affect the loan disbursal, but then, if gold price remains steady and there is stability in the gold loan market and gold loan price also, still, we should see 15 percent growth for the whole year – that is what we should be looking at. We had a 5 percent-plus growth for the second quarter, we should see the same 5 percent in the next two quarters also,” Muthoot said.

Also Read: Can India’s gold loan market keep up with consumer demands?

On housing finance, he said, in Q3 and Q4, the company sees the affordable housing finance portfolio slowly going up, but it will be a much-calibrated growth only. “We are not very aggressively trying to grow the affordable home finance because home loans actually are doing better, but the affordable home finance has still not really taken off,” he explained.

For the entire management interview, watch the video
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