{"id":28374,"date":"2022-03-09T18:29:53","date_gmt":"2022-03-09T12:59:53","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-indel-money-loan-book\/"},"modified":"2022-03-09T19:30:15","modified_gmt":"2022-03-09T14:00:15","slug":"biz-indel-money-loan-book","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-indel-money-loan-book\/","title":{"rendered":"Gold loan player Indel Money eyes Rs 1,000 cr loan book next fiscal"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2648796426\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mumbai, Mar 9 (PTI) The Kochi-based non-banking lender Indel Money that has pioneered long-term credit in the gold loan industry, is eyeing a loan book of Rs 1,000 crore next fiscal.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3096988479\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The company is also in talks with private equity funds to raise around Rs 400 crore for a 15 per cent stake as it looks at a faster growth trajectory by entering new geographies in FY23.<\/p>\n<p> Indel Money&#8217;s gold loan portfolio stood at Rs 336 crore in FY20 and Rs 580 crore in FY21 and is confident of closing the book with Rs 700 crore by end-March. However, it did not say how much it has already achieved so far this fiscal.<\/p>\n<p> The company currently operates 225 branches across Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Odisha and Puducherry. It has plans to enter Maharashtra, Goa, and Bengal in the first quarter of FY23 and Gujarat, Madhya Pradesh and Rajasthan by the end of FY23, Umesh Mohanan, Chief Executive and Executive Director at Indel Money said.<\/p><div class=\"trade-content_5\" id=\"trade-1173991659\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;Our gold loan book stood at Rs 580 crore in FY21, up from Rs 336 crore in FY20 and we plan to grow the book to Rs 700 crore in FY22 and Rs 1,000 crore in FY23,&#8221; said Mohanan, basing his optimism to the sustained recovery of the economy and the subsequent growth in gold loan demand and on the back of its accelerated expansion plan across the country.<\/p>\n<p> On expansion plans, he said the broader goal is to take the branch tally to more than 500 across 11 states by 2023 to cater to the unmet credit demand.<\/p>\n<p> Mohanan said in 2022, the company be mainly focussing on tier-II and III markets for expansion. By deploying digital capabilities, following the hub and spoke model and leveraging the gold-loan co-lending partnership with banks, the goal is to make our services accessible to a larger population.<\/p>\n<p> As one of the pioneer of long term gold loan scheme, Indel Money has designed its gold loan products by safeguarding customers and investors against price volatility.<\/p>\n<p> According to various estimates, the organized gold loan market is currently valued at Rs 4.14 lakh crore and is projected to grow at a three-year annualised growth of 19.5 per cent to reach Rs 7.55 lakh crore by FY24, he said.<\/p>\n<p> Indel Corporation, the parent of Indel Money, with over Rs 1,000 crore revenue from its auto dealerships and hospitality apart from film production, and media &#038; communication, had entered the gold loan space in 2013. It is offering one-year-long loan against gold pledges first and then for two years in an industry that has never looked beyond three months after which they just auction and force-exit the customer.<\/p><div class=\"trade-content-10\" id=\"trade-456009839\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The impact of his long-term loan offering forced entrenched biggies like the Muthoot groups and of late, Manappuram Finance to follow the company, moving away from their standard three months tenor. PTI BEN  RUJ MR RUJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-2136970603\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Mar 9 (PTI) The Kochi-based non-banking lender Indel Money that has pioneered long-term credit in the gold loan industry, is eyeing a loan book of Rs 1,000 crore next fiscal. The company is also in talks with private equity funds to raise around Rs 400 crore for a 15 per cent stake as it [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-28374","post","type-post","status-publish","format-standard","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold loan player Indel Money eyes Rs 1,000 cr loan book next fiscal - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-indel-money-loan-book\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold loan player Indel Money eyes Rs 1,000 cr loan book next fiscal\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Mar 9 (PTI) The Kochi-based non-banking lender Indel Money that has pioneered long-term credit in the gold loan industry, is eyeing a loan book of Rs 1,000 crore next fiscal. 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