Ugro Capital Rs 3,500 Cr Loan Book,To Drive Both Footprint And Balance-Sheet Expansion By March
- BySheetal Sidhu | August 13, 2021
Ugro Capital, the mid-scale non-banking lender focused on supply-side financing for small businesses, is nearly trebling its headcount to 1,000 to drive both footprint and balance-sheet expansion by March when it expects loan book to sniff at Rs 3,500 crore. The Gurugram-based NBFC has closed July with a live loan of over Rs 1,560 crore on the back of of the best-ever disbursal of Rs 260 crore in the month, and the collection efficiency clawed back to 96-97 per cent.”If we are able to maintain the July disbursal run-rate, which looks more likely, I am confident of closing the current fiscal with a loan book of Rs 3,500 crore or thereabout. As of end July, our loan book crossed Rs 1,560 crore,” Shachindra Nath, chairman and managing director of Ugro Capital, said on Thursday.
As of end June, loan book was Rs 1,375 crore and Rs 847 crore in June 2020, registering a 62 per cent increase, he said, adding the cumulative disbursements crossed Rs 3,000 crore so far. He said because of the pandemic, April and May numbers were low at Rs 196 crore and Rs 193 crore respectively. But July surprised with the best ever numbers and August so far has been very encouraging.”We’ve aggressive growth plans for the year as we expect businesses to do well with the economy coming out of the pandemic. Our plans include taking our headcount to 1,000 by next March which was only 300 in March 2021. Of this we’ve already added 100 people as of July, and 600 more will join us through the course of the fiscal,” Nath said, adding when we closed our first year of operations we were just a 130 people organisation.
Follow Startup Story
Related Posts
