We see huge scope to grow in new geographies for housing finance: Umesh Revankar, Shriram Finance

economictimes.indiatimes.com:

«So this kind of a product mix and an ability to give a wider range of product in large number of branches have helped us. So overall, we believe that this is going to continue for some time but our long term guidance of 15% CAGR would remain,» says Umesh Revankar, Executive VC, Shriram Finance.The narrative of your company has changed with the focus on high yielding mix and revamped post the merger business model. This time you reported an AUM growth of 19% versus your own guidance of 15%. How do you think you are going to evolve over the longer term as well as the medium term? Yes, we have grown more than the guidance given.

We had given a long term guidance of 15%. The growth in the first quarter has been excellent. It is more to do with the increase in ticket size because the asset values have gone up so that has really benefited us.

And also we are able to introduce new product in the merged entity in the branches, especially in the earlier Shriram Transport product in Shriram City Union and Shriram City Union product. So this kind of a product mix and an ability to give a wider range of product in large number of branches have helped us. So overall, we believe that this is going to continue for some time but our long term guidance of 15% CAGR would remain.You have unveiled a Vision 2026 plan as well as we understand for housing finance and you plan to triple the AUM there, double branch network. Tell us what has been driving this confidence despite the competition that you already have from banks in this sector?We are getting into newer geography.