Subhlakshmi Finance disbursed loans to the tune of Rs.150 crore.
To meet its rising loan demand, the NBFC would raise funds from a set of banks both public and private banks.
Subhalakshmi Finance, which was founded by Mr. Bipin Sharma and Mr. Sanjeev Yadav, is also planning to expand its operations in 2-3 more states and recruit 200 people at various levels. Currently, the NBFC has presence across 7 states including Delhi NCR, Punjab, Haryana, Uttar Pradesh, Himachal Pradesh, Chandigarh and Bihar. The total headcount of Subhalakshmi Finance currently stands at more than 300.
Commenting on the growth strategy, Mr. Bipin Sharma and Mr. Sanjeev Yadav both Founders of Subhlakshmi Finance Pvt. Ltd. said, “Having started our operations from 16th October 2016, we have grown at a reasonable pace and have continuously expanded our loan books without compromising on the asset quality. We emphasised on the technology from the very beginning and we boast of having one of the lowest non-performing assets in the entire industry. Hence, we believe that the time is ripe for us to push the growth pedestal hard.”
“Till date, we have largely been providing collateral free loans and as we plan to expand, we will give equal emphasis on secured loans. We target to disburse upto Rs 60 crore of collateral backed loans by the end FY20.
Currently, Subhalakshmi Finance has a customer base of around 45,000 and average ticket size of the loan is around Rs 50,000. For FY19, it reported a net profit of Rs.2.26 crore. The networth of the NBFC stood at Rs 20 crore as on March 31, 2019.
