Gagan Banga, VC & MD, Indiabulls Housing Finance, says: “We have now reached a stage where over the last four to six quarters, we stabilised the overall business, scaled up the retail disbursals and whatever are the targeted segments for growth, the disbursals around that are coming along at a good pace. At this point in time, we believe that to grow and take the disbursals to the next level, we have set a goal that by the end of FY25, we should be disbursing close to about Rs 2,000 crore. By the end of FY26, we should be disbursing around Rs 3,000 crore a month.”
Congratulations for a big rights issue, quite big one compared to your sector in recent times and that too got a good subscription. Let us talk about the resurrection of Indiabulls Financial, the way it is going in Samman Financials. Tell us about this growth capital which you have raised, the utilisation and what direction does the company take now?
Gagan Banga: The way that we are progressing is essentially that we got into an asset-light model close to about four years ago and since then we have been systematically working on scaling that up. As part of that model, we had to continue a process of reducing our legacy book which we have materially progressed on, that progress will continue over the next 24 months. But we have now reached a stage where over the last four to six quarters, we stabilised the overall business, scaled up the retail disbursals and whatever are the targeted segments for growth, the disbursals around that are coming along at a