Poonawalla Fincorp Reports Quarterly AUM of Rs. 17,690 Crore, a Growth of 23 Percent YoY and 7 Percent QoQ for the Quarter Ended as of 30th June 2022

5 Jul 2022 , 03:17 PM

Business Wire India
As per Information under Reg. 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 r/w Schedule A of Reg. 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, Poonawalla Fincorp reports the following information on a consolidated basis with respect to the quarter ended 30^th June 2022:
 

1. Disbursements: Disbursements during Q1FY23 surpassed Q4FY22 disbursements as Company witnessed significant business momentum during the quarter. Disbursements for Q1FY23 were at approximately Rs. 3,430 crores, which is up 98% YoY. FY22 disbursements stood at approximately Rs. 9,494 crores.
2. Assets Under Management (AUM): AUM was at approximately Rs. 17,690 crore as of 30^th June 2022, implying growth of 23% YoY and 7% QoQ. The AUM for the subsidiary, Poonawalla Housing Finance Limited, stood at approximately Rs. 5,285 crore.
3. Asset quality: The Company expects the Net Stage 3 (NS3) below 1.10% and Gross Stage 3 (GS3) below 2.50% as on 30^th June 2022. This is in line with the management vision 2025 to bring down Net Stage 3 below 1%.
4. Liquidity: The Company continues to have ample liquidity of approximately Rs. 4,500 crores as on 30^th June 2022.
5. Recognition: Poonawalla Fincorp has been recognized as one of the Most Preferred Workplaces 2022-23 by Team Marksmen, in association with India Today.

Management Commentary: Q1 is generally a muted quarter, however, the Company continued the trend of significant improvement in its organic disbursements across all products in Q1FY23. Organic disbursements were more than Rs. 1,000 Crores in month of June taking the annualized run rate to more than Rs. 12,000 Crores. We expect the growth momentum to continue in the coming quarters supported by change in the product mix and the increased contribution from the distribution pillars of Direct, Digital and Partnerships (DDP). The share of DDP disbursements doubled to ~35% in Q1FY23 up from 17.5% in Q4FY22. The Company continued to make progress on technology and people initiatives.

Note: The above information is provisional and subject to audit by the statutory auditors of the Company
About Poonawalla Fincorp
 
Poonawalla Fincorp Limited (Formerly known as Magma Fincorp Limited) is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange in India (NSE). Consequent to the capital raise of Rs 3,456 Crore in May’21, the Company is now part of the Cyrus Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Mr. Adar Poonawalla.

The Company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. Poonawalla Fincorp Limited (“PFL”) has a widespread coverage with 279 branches across 21 States. The Company has AUM of Rs.16,579 crore and employs more than 7,000 people. The Company’s financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, SME LAP and affordable home loans.
 
About Cyrus Poonawalla Group

The Cyrus Poonawalla Group of Companies, headquartered in Pune, are a diversified group with business interests that include Pharmaceuticals & Biotechnology, Financial Services, Clean Energy, Hospitality & Realty and Aviation. Serum Institute of India Private Limited, the group’s flagship company, is the world’s largest manufacturer of vaccines, supplying to Indian as well as global markets. 
 
For more information, please log on to: www.poonawallafincorp.com