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In an interview to ET Now, the MD & CEO of Manappuram Finance, VP Nandakumar, opens up about his company's annual growth expectation and the success of his consolidated AUM. Edited Excerpts:
You have recently inducted Mr Jeevandas Narayan and Subhash Samant at Mannppuram Home Finance as MD and CEO respectively; what are your plans for this business and how much growth are you targeting over the next two or three years?
For the new business, we expect a good growth, we cannot say in percentage terms because the base is very small but currently these new initiatives like commercial vehicle loans or home loans etc. the aim is over 300 crore. So we hope these businesses will be doubled during this year because the base is very small and other business which is microfinance the microfinance post demonetisation which is getting stabilised now with the monsoon also coming in the things are improving so we expect that to grow to around 2500 crore by the end of this year.
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