Aditya Birla Capital saw strong earnings growth in Q2. CNBC-TV18's Prashant Nair caught up with Ajay Srinivasan, the CEO of the company and asked him that the non banking financial companies (NBFC) business has done very well and from where all the growth coming.
Aditya Birla Capital saw strong earnings growth in Q2. CNBC-TV18's Prashant Nair caught up with Ajay Srinivasan, the CEO of the company. He discussed that the non banking financial companies (NBFC) business has done very well and also shared his reading on where all the growth is coming from.
Srinivasan said we have a much diversified NBFC book and the growth in NBFC business has come in across the spectrum.
We expect margin to remain in the range of 4.4-4.5 percent.
He further said that we should see some traction as company builds small and medium enterprise (SME) and retail.
Talking about bank recapitalisation, he said it's too early to say if public sector undertaking (PSUs) will increase competition. However, in a broader sense, PSB recapitalisation will benefit everyone.
Srinivasan added that 30-40 percent of our borrowings come from banks. Therefore, we should be a beneficiary post the PSU bank recapitalisation.
On non-performing assets (NPAs) front, he said we have a good track record in terms of NPAs .
He added that housing finance is a very exciting business. However, general ownership of housing in India is very low.
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