Mon. May 20th, 2024
Capri Global Capital Ltd profit rises by 5% in Q1 FY21

365telugu.com online neesderabad, august 1, 2020: Capri Global Capital Ltd (CGCL), a diversified NBFC in the MSME and Affordable Housing sector, has reported an AUM of Rs. 40.5 Bn in Q1 FY21. The consolidated net worth of the company stood at Rs. 15.8 Bn in Q1 FY21.MSME continue to be the focussed sector contributing to around 51% of total AUM. CGCL has active relationships of over 12,040 businesses ending Q1 FY21 across several states in India ranging from retail outlets to small manufacturing units, traders to private schools. CGCL continues focussing on Tier 3 & 4 cities. The well-established and in-depth knowledge of micro markets has helped CGCL to maintain a good asset quality and keep the loan book granular.The Housing Finance contributes to ~23% of the total AUM. Under the Affordable Housing Finance business targeting Tier 2 & 3 cities, the company has already empowered over 9,600 families to realise the dream of owning their own home. CGCL has entered an MOU with NHB as a Primary Lending Institution (PLI) to facilitate subsidy to its qualifying borrowers under the CLSS. 

Capri Global Capital Ltd profit rises by 5% in Q1 FY21
Capri Global Capital Ltd profit rises by 5% in Q1 FY21

Commenting on the outcome, Mr. Rajesh Sharma, Managing Director, Capri Global Capital Ltd., “Amid the current economic scenario, Capri Global Capital Ltd has witnessed a sustainable growth. The current turmoil of the overall economic environment has impacted many sectors. CGCL has maintained its cautious stance on disbursements and focused on strengthening its business processes. However, our prudent lending strategy and a strong source of liquidity have resulted in continued growth.”Most of our businesses in Tier II, III and Tier IV branches have come back to normalcy with an upswing in collections as those customers have resumed operations with ease of lockdown witnessing an uptick in recovery. We are also seeing new loan demand coming up which we are cautiously analysing before disbursement.We have emerged as a compelling NBFC with an optimized branch network, capable leaders & a tight, strict risk mitigation system. Thus, we are confident to deliver on superior growth and to reach our strategic vision goals” he added further.