Tata Capital Fin expects 20% growth despite stress in NBFCs
1 min read.Updated: 13 Aug 2019, 06:44 PM ISTPTI
The company's book size had increased from ₹37,269 crore in the 2017-18 fiscal to ₹45,316 crore in 2018-19
Tata Capital Financial was also looking at external commercial borrowing
Tata Capital Financial Services Limited (TCFS) is hoping that its assets will grow by 20 per cent in the current fiscal amid a slowdown in the automotive sector and stress in the non-banking financial companies (NBFCs), an official said here on Tuesday.
The company's book size had increased from ₹37,269 crore in the 2017-18 fiscal to ₹45,316 crore in 2018-19.
"We are growing strong year-on-year. In the current fiscal, we expect to grow at least 20 per cent in assets and capital will not be a constrained," Deputy VP, Sandip G Joshi said on the sidelines of the second tranche of NCD issue, aggregating up to ₹4,126 crore.
He said equity infusion in the current fiscal can also go up to ₹1,500 crore.
"However, the infusion will depend on actual growth," Joshi said adding that the company ideally maintains around 150 basis points above the regulatory requirement of 15 per cent capital adequacy, he said.
Tata Capital Financial was also looking at external commercial borrowing.
"TCFS has already raised in excess of $75 million and is working on another USD 100 million," Joshi said.
Speaking about the slowdown in the automotive sector, the company's Managing Director Kusal Roy said the firm has taken certain measures such as close monitoring and tightening of polices.