Shriram City Union Finance plans Rs 23k cr disbursements in FY22

01 Sep 2021 CW Team

Shriram City Union Finance is observing overall disbursements of Rs 22,000-23,000 crore in the ongoing financial year (FY).

Throughout the first quarter of 2021-22, the banking company spent Rs 4,560 crore compared to Rs 6,570 in March 2021 quarter.

Y S Chakravarti, the CEO and Managing Director, told the media that July 2021 was better than June, with expenses crossing over Rs 3,000 crore.

In July, even the collection performance reached close to 100% compared to 93% in June.

Chakravarti revealed that on average, the expenses are nearly Rs 6,200-6,300 crore per quarter. He said in the remaining three quarters, they expect to reach around Rs 18,000-19,000 crore and would end up with Rs 22,000-23,000 crore.

The lender gives finance to segments comprising small and medium enterprises (SME), personal loans, gold loans, two-wheelers, and loans against property.

Another big part for the lender is financing a two-wheeler, which is nearly 26-27% of its entire loan portfolio. He expects to spend around Rs 1,500-1,600 crore in the two-wheeler part in the second quarter of the ongoing fiscal.

The quarter ended in June 2021, the lender recorded a profit after tax of Rs 208 crore compared to Rs 192 crore in the year-ago period. Its asset quality was enhanced year-on-year, by gross stage 3 levels at 6.91% in Q1 FY22 as against 7.28% in the corresponding quarter of the last fiscal.

Image Source

Also read: Shriram Transport Finance to raise Rs 500 cr via QIP

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..