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Expect strong disbursals in FY23; scaling traditional biz over next 2 years a priority: Cholamandalam

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Arulselvan D, Executive Vice President & CFO, Cholamandalam Investment and Finance, on Friday, said that he expects disbursals to be strong in FY23. He explained that his priority will be on scaling up the traditional business over the next 2 years. Additionally, he shared that the company’s intention is to widen product offerings like consumer loans.

Arulselvan D, Executive Vice President & CFO, Cholamandalam Investment and Finance, on Friday, said that he expects disbursals to be strong in FY23. He explained that his priority will be on scaling up the traditional business over the next 2 years. Additionally, he shared that the company’s intention is to widen product offerings like consumer loans.
He said, “The priority on the share of our traditional businesses will continue to be large and on the other hand on new businesses, we will be scaling up on the measured note.”
On new segments, he said that the company will first test waters over the next few quarters and only then will it be going ahead with it. Also, the company plans to widen its base and is therefore looking at acquiring new customers.
He said, “We will not be acquiring a loan book. However, we have acquired a stake in one of the fintech which is the largest point of sale (POS) machine distribution company, so we would be tapping that to reach out to the customers, offering them different products, digital products. This will help us provide the customers all-round facilities from a lending perspective.”
On fintechs, Arulselvan mentioned that many of these companies have been wanting to collaborate with them. He explained that their plan is to source customers through such companies. For this, the company has acquired a stake in a fintech as well.
He said, “Many of the fintechs are facing collection issues; they want to overcome that and that’s why the fintechs also see the right opportunity to collaborate with us to get this thing going.”
For the full interview, watch the accompanying video
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