Founded in 2017 by Srinivasan, who was earlier the chief executive of Reliance Commercial Finance, Profectus is backed by private equity firm Actis. "We should cross ₹4,000-4,500 crore by the end of this financial year. Ultimately, by about FY26, we should touch ₹10,000 crore," Srinivasan said in an interview.
Its loan book stood at ₹2,363 crore as on 30 June, up 47% from the same period last year.
The lender made a profit of 10 crore, on the back of ₹93 crore in revenues in the June quarter and its stage 3 ratio or bad loan ratio was at 1.53% in Ql this year, up from 0.88% in Ql of FY23.
Esta historia es de la edición August 23, 2023 de Mint Mumbai.
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