Reliance Capital’s plans to exit non-core businesses has been delayed by a year. The company said on Friday that it plans to focus on financial services and divest all other investments by March 2018.

Last year, top executives of Reliance Capital had said that the exits would happen by 2017.

Speaking to analysts, Anil Ambani, Chairman, Reliance Group, said housing, SMEs and consumer finance will be the new growth engines for the company. While a significant part of the company’s revenue comes from financial services, it has investments in the media, film, TV and radio sectors.

In addition, Reliance Capital is an investor in a bunch of companies, including Yatra Online, Sula Vineyards and Mahindra First Choice. So far, it has exited Paytm successfully. In addition, a deal was signed in November to sell its television broadcasting business and 49 per cent of its radio business to Subhash Chandra’s Zee Group for an enterprise value of ₹1,900 crore. This deal, however, is yet to get regulatory clearance.

As on September 30, 2016, its overall debt stood at ₹31,000 crore. Of this, ₹21,000 crore is in the lending business. After hiving off its non-core assets, Reliance Capital wants to build a core investment company, which will include its firms in housing financing, asset reconstruction, insurance and mutual funds.

Anmol Ambani, Executive Director, RCap, said the company is embarking on a digital transformational journey and the recent momentum towards going cashless would help it grow faster.

According to RCap, the life insurance subsidiary has, over the last one year, weeded out unprofitable and poor quality business, right-sizing the expense base and corresponding reduction in premium growth.