Poonawalla Fincorp disbursements rise 116 per cent to Rs 3,980 crore in third quarter

MUMBAI:  Poonawalla Fincorp on Thursday said its total disbursements at consolidated level increased 116% to Rs 3,980 crore in the third quarter compared to same quarter in 2021. On a standalone basis, the company’s total disbursement during Q3FY23 was up 8% and stood at nearly Rs 3,370 crore against Q2FY23 disbursement of Rs 3,110 crore. 

The consolidated AUM grew by 28% year-on-year and 5% quarter-on-quarter to nearly Rs 19,550 crore as of December 31, 2022, despite sharp reduction in discontinued loan book , said the company in a filing to the BSE. The company, on December 14, announced the sale of its housing subsidiary Poonawalla Housing Finance to TPG (Perseus SG Pte. Ltd., an entity affiliated with TPG Global, LLC) at a valuation of Rs 3,900 crore, subject to regulatory approvals.  

The transaction aims at maximising the shareholders’ value in the long term as Poonawalla Fincorp (standalone) will continue to focus on building a Tech-Led and Digital-First financial services company, with leadership in consumer & MSME financing. During the third quarter, we continued our strong growth momentum by achieving highest ever quarterly disbursement through 100% organic route.