Value unlocking of the housing finance subsidiary was one of the objectives in the company’s Vision 2025 plan.
The company received tremendous response with proposals including those for a full stake buyout.
The sale of the business is expected to enhance shareholders’ value in the long term, as Poonawalla Fincorp focusses on building a tech-led and digital-first financial services company, the parent said in a release.
“We remain committed towards achieving our stated Vision 2025, with our focus on product diversification, innovation and superior customer experience,” Abhay Bhutada, Managing Director of Poonawalla Fincorp, was quoted as saying on the release.
will focus on growth in the chosen segments leveraging technology and digital capabilities, as it aspires to achieve a 35-40% growth in the assets under management (AUM) over the next 3 years.
Further, the company will work towards achieving consistent return on assets (RoA) in the range of 4.0-4.5%, while maintaining the net non-performing asset ratio below 1% through prudent underwriting and collection capabilities.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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