IndoStar Capital Finance plans to focus exclusively on retail lending and is gradually exiting the corporate lending business.
“Our peak portfolio in 2018 was ₹6,000 crore, which we brought down by aggressive collection in the last two years to ₹2,900 crore as of June 2020. In the next 10 to 15 months, it will be zero,” said R Sridhar, Executive Vice-Chairman and CEO, IndoStar Capital Finance.
It will then become a 100 per cent retail financing company and focus on commercial vehicle finance and lending to small and medium enterprises and affordable housing, he told BusinessLine.
Also read: IndoStar Capital Finance appoints Deep Jaggi as Chief Business Officer
The move comes after the company faced headwinds after the IL&FS crisis when raising funds became an issue for NBFCs. The corporate loan book had been contributing about ₹450 crore of profit before tax until…
