Continue to see overall robust and reasonable numbers on the growth side: Sanjiv Bajaj

New Delhi: Sanjiv Bajaj, CMD Bajaj Finserv joins ET NOW exclusive on its 13e special anniversary episode of the year to talk about current market dynamics and the way forward for Bajaj Twins. Core AUM grew 26% year-over-year, setting the tone for a strong resumption of growth in FY23. management, coupled with the confidence to add 8-9 million new customers in FY23E. Commenting on the current growth momentum, Sanjiv Bajaj said, “Continue to see reasonably robust numbers overall on the growth side. Net losses at historic lows returning to pre-COVID levels, business quality continues to be good.” In addition, he says much will depend on how inflation and interest rate hikes develop over the next few quarters. Management guidance will be revised accordingly as needed. At present, he believes that Bajaj finance has a long track ahead of it and is in a high growth stage.
Much of the activity comes from home loans. Continued to project 20-25% average growth. He believes that in the medium term there are huge opportunities in the mortgage business as HDFC Ltd merges with the bank they would not be able to take on parts of the mortgage business that NBFC and HFC can do today. “Over the next 4-5 years, HDFC Bank will have a set of priorities and challenges after the integration is approved. They believe this will create a window for many others, including us, to develop businesses housing finance,” says Sanjiv Bajaj. “A large portion of the loans have been withdrawn by the first HFC, and this access is becoming available. Bajaj housing finance, being one of the major players in the market, will bring this access closer to us. Very optimistic in the medium term. business,” he added.
Previous Another Crypto Lending Platform Freezes Withdrawals as Industry's Downward Spiral Continues
Next Crypto lending platform Babel Finance suspends withdrawals, citing 'liquidity pressures'