U GRO Capital, a leading DataTech Non-Banking Financial Company (NBFC) and a major player in the MSME co-lending segment in India, announced their remarkable financial performance for the quarter and nine-month period ending 31st December 2023. This achievement marks a significant milestone as the company enters the elite Billion Dollar Assets Under Management (AUM) Club.
The company reported a substantial increase in its AUM, reaching INR 8,364 Cr, a 64% growth year-on-year (YoY). The nine-month period of FY24 saw a Profit After Tax (PAT) of INR 86.7 Cr, representing a staggering 237% increase compared to the same period in the previous fiscal year. These figures underscore U GRO Capital‘s consistent and robust growth trajectory.
The net disbursement for the nine-month period was INR 4,311 Cr, marking a 35% increase YoY, and INR 1,552 Cr in the third quarter, up by 5% compared to the previous quarter. The AUM surged by 10% quarter-on-quarter (QoQ), consolidating the company’s financial position.
Net Total Income stood at INR 436.5 Cr for 9M’FY24, a significant jump of 66% YoY, while for the third quarter, it was INR 162.6 Cr, up 10% QoQ. The Profit Before Tax (PBT) and PAT showed remarkable increases, indicating a strong profitability trend.
The Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) ratios were maintained at an optimal level of 2.0% and 1.1% respectively on the total AUM, reflecting the high quality of the company’s asset portfolio.
U GRO Capital’s unique co-lending model and strategic partnerships have significantly contributed to this growth. The company’s proprietary underwriting model, GRO Score 3.0, along with collaborations with over 55 lenders, 40 fintechs, and 500 GRO partners, has enabled it to offer tailored financial solutions to over 67,000 MSMEs across India.
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Shachindra Nath, Founder and Managing Director of U GRO Capital said, “At U GRO Capital, our journey is defined by continuous innovation, dedicated to reshaping financial sector standards. Today, we proudly announce surpassing INR 8300 crores in AUM, entering the Billion Dollar AUM Club. This accomplishment reflects our unwavering commitment to innovation and delivering unmatched financial solutions. Committed to boosting India’s economic growth, we aspire to build a significant institution for small business financing. With ambitious FY24 goals, we are strategically poised to achieve them through innovative strategies, collaborations, and a steadfast commitment to sustainable entrepreneurship. U GRO Capital offers an attractive opportunity for investors seeking enduring growth and robust returns.”
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