Shriram Finance Targets Rs 3 Lakh Crore Assets Amid Growth Surge

Shriram Finance Ltd anticipates reaching Rs 3 lakh crore in assets by the next financial year, with a loan growth of 15%. The company aims for 18% credit growth, supported by positive economic conditions and green financing initiatives, including electric vehicle loans, backed by significant offshore funding.

Shriram Finance Ltd, a core entity of the diversified Shriram Group, is eyeing a significant milestone by surpassing Rs 3 lakh crore in assets in the coming fiscal year, commencing on April 1. The company anticipates a robust 15% loan growth, aligning with expected GDP growth of 6.5%.

Executive Vice Chairman Umesh G Revankar shared with PTI that the target for the asset book is set to exceed Rs 3 lakh crore by the 2025-26 fiscal year end, with the current year concluding over Rs 2.5 lakh crore. Despite a conservative guidance, this year's credit growth is projected at 18%.

Shriram Finance plans to capitalize on economic improvements, focusing on sectors like MSME and green financing, notably electric vehicles. Recently, the company secured USD 306 million in funding under their Social Finance Framework, involving entities like the Asian Development Bank and Japan International Cooperation Agency.

(With inputs from agencies.)