Manappuram Finance showed strong balance sheet growth this quarter. VP Nandakumar, MD & CEO of Manappuram General Finance spoke to CNBC-TV18 about the Q1 performance.
Nandakumar said that the double digit growth in gold loan will continue in the medium-term. The company is looking to grow at 20 percent compound annual growth rate (CAGR) on loan book.
“In microfinance business we will grow well even though in first quarter it was flattish but in the coming quarters it will deliver and we expect good growth in microfinance,” said Nandakumar.
Nandakumar further mentioned that portfolio quality in housing finance has improved.
“Overall we have seen a good improvement. All the businesses are doing well for us and that’s why we are confident of achieving a CAGR of 20 percent and RoE of 20 percent which has been already reported during first quarter, maintaining that,” he said.