Usha Financial Services Limited (UFSL), a Non-Banking Financial Company (NBFC) in India, announced its target of achieving AUM of ₹550 crore by March 2025. This comes on the heels of the company’s impressive AUM of ₹306 crore last year (March 2024), showcasing significant growth and potential.
During FY23 the Company reported a total AUM of ₹357.69 crore as on March 31st, 2023 when compared to ₹151.63 crore as on March 31st, 2022 (increase of ~135.89%). During FY23, the Company reported ROTA of 4.11% in FY23 as against 2.73% in FY22 aided by moderate margins (NIM of 7.36% in FY23).
In the current financial year, UFSL has shown remarkable results with substantial progress. The company’s strategic initiatives, coupled with a diversified product portfolio, including micro, small and medium enterprises (MSMEs) financing, consumer finance, vehicle finance, affordable housing finance, agricultural finance, and Green Finance, have contributed to this success.
Furthermore, UFSL announced that it is gearing up to launch its Initial Public Offering (IPO) this year.
Commenting on the same, Geeta Goswami CEO, Usha Financial said, “We are thrilled with the growth trajectory UFSL has experienced in the past quarters and are confident in our ability to achieve our targeted AUM by March 2025. The upcoming IPO launch will further enhance our position in the market and enable us to better serve our customers.”
“We take pride in dedicatedly serving the diverse financial needs of individuals and businesses across various sectors in India. Our commitment to financial inclusion and sustainability is evident with the wide-ranging loan offerings and strategic partnerships with EV Partners, ensuring that customers have access to a comprehensive suite of financial products that promote economic prosperity and environmental responsibility.,” she further added.
In line with its commitment to reach a wider audience and cater to diverse needs, UFSL has adopted a multi-channel approach for business. This approach includes Green Financing, Loan to MSME and SME, Agriculture loans, Home improvement and sanitization. UFSL aims to provide seamless access to financial products and services while fostering sustainable practices and supporting economic growth.
Currently, Usha Financial have approximately 25,000 customers and expects to grow this number to 50,000 by March 2025.
