Typically, secured loans, like Home Loans and Loan Against Property (LAP) contributed 13%-15% of disbursals through Paisabazaar till last financial year.
Both Home Loans and LAP have a massive market, with disbursals at around INR 14 lakh crore on an annualised basis, according to Paisabazaar's internal estimates.
Naveen Kukreja, Co-founder & CEO, Paisabazaar, said, "The overall macros for India's consumer credit market remain strong and conducive for long-term growth. For us as a business, while unsecured paisabazaar credit would continue to be the backbone of our growth, we also recognise a big opportunity to go deeper and scale secured loans, especially home loans. Since home loans as a category is largely offline and last-miledriven, our focus is largely on building our distribution and fulfilment capabilities.
Our strong brand and large scale would also be key drivers for us in strengthening the secured business." Paisabazaar, currently, is focussing on Delhi NCR, Mumbai and Bengaluru, which together form over 30% of the total home loans market, according to its estimates. It is strengthening its FoS teams to build a strong offline presence in these three cities.
Sahil Arora, Chief Business Officer, Secured Loans, said, "We are setting up our presCONTINUED FROM PAGE 1 Leading earthing products Uprotec's engineering team conducted a comprehensive site assessment and developed a solution tailored to the client's unique needs.
By installing Uprotec's best earthing products, the facility received a robust, corrosion-resistant grounding system capable of handling high fault currents. The addition of ESE Lightning Arresters further enhanced protection against lightning strikes, safeguarding the facility's sensitive equipment.
This story is from the September 26, 2024 edition of The Business Guardian.
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This story is from the September 26, 2024 edition of The Business Guardian.
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