IKF Finance AUM crosses Rs 2,000 cr
Hyderabad: IKF Finance, India’s noticeable Non-Banking Finance Company (NBFC) revealed that its Assets under Management (AUM) went across Rs 2,000 crore. It has actually established strategies to scale up the AUM to greater than Rs 6,000 crore in the following 3 years leveraging on modern technology as well as circulation network.
The Hyderabad- headquartered firm has actually created solid expertises in the financing source as well as underwriting of underbanked as well as underserved sections. With the press from Reserve Bank to NBFCs, the market has actually increased as well as has actually had the ability to deal with the last mile financing.
On the event, VGK Prasad, Founder & & Chairman of IKF Group, stated: “The company has a diverse liability franchise with limits from all PSU banks and financial institutions. Leveraging the co-lending partnership with Bank of India and ICICI Bank, we will also target customers from tier II & III cities.”
IKF Finance is well placed with a healthy and balanced development in topline as well as bottomline. The firm’s subsidiary has actually additionally uploaded durable efficiency in its corresponding sections. Its Managing Director K Vasumathi Devi states IKF Finance is readied to be a one-stop system for all car funding requires for the under-served.
She stated, “We have been providing our services to the under-served segment to meet their financial needs. IKF reported a profit after tax (PAT) of Rs 40 crore in FY22 as against Rs 32 crore during FY21.”