Shriram Housing Finance targets Rs 300 bn AUM by FY26

Shriram Housing Finance, which had assets under management amounting to Rs 100 billion at the end of July, disclosed a Vision 2026 plan aimed at tripling its size. The company intended to tap into a growing customer base seeking home ownership, particularly in a nation where the supply of affordable apartments falls short of the demand in major urban areas. The mortgage lender was currently in the process of raising $100 million through a share sale and had intentions of increasing its branch network and workforce by twofold within the next two and a half years, as part of its growth strategy. According to the Ravi Subramanian, Managing Director, Our aspiration is to elevate the AUM to Rs 300 billion by FY26 and to achieve the top position among affordable housing finance companies by that time. He also added, The growth observed in the previous few quarters, coupled with the steady asset quality, has provided us with the confidence to outline the next phase of expansion. At the present time, Shriram Housing Finance held the third position in terms of size, following Aadhar Housing Finance and Aavas Financiers. Over seventy-five percent of its customers came from the low- and middle-income brackets. Additionally, 79% of its loan applicants were self-employed, and loans below Rs 25 lakh constituted 80% of the loan portfolio. The ratio of gross non-performing assets to the total portfolio was around 1%. The growth strategy outlined in the Vision 2026 plan encompassed the introduction of new products, expansion of branch networks, and investments in technology and human resources. In the past three months, the company had already increased its workforce by approximately 45%, expanding from 1753 to 2547 employees. The target was to further raise this number to 5000 by March 2026. Also read:  Bahrain Steel partners with Essar Group for Green Steel InitiativeCM Gehlot approves Rs 246.81 bn investment boost for Rajasthan's growth