Spandana Spoorthy Targets ₹28,000 Crore Portfolio by 2028

In alignment with its Vision 2028, Spandana Spoorthy Financial Ltd is set to achieve a ₹28,000 crore portfolio target while strategically mitigating the risk of geographical concentration. The micro-lender aims to diversify its business by reducing reliance on contributions from specific states.

The third quarter, concluding on December 31, 2023, marked a significant period for Spandana Spoorthy Financial Ltd. The micro-lender achieved a noteworthy milestone by reaching ₹10,404 crore in assets under management (AUM).

From a profitability perspective, the net profit for the nine-month period amounted to ₹372 crore, surpassing the full-year profits recorded in previous fiscal years.

Notably, Spandana Spoorthy Financial Ltd, headquartered in Hyderabad, is taking measures to reduce its dependence on a few states for business. Currently, the top three states contribute 42 percent to the portfolio, while the top five states account for 61 percent of the micro-lender's business.

As Spandana Spoorthy Financial Ltd charts its course towards Vision 2028, the focus on achieving a substantial portfolio target and diversifying geographical concentration underscores its commitment to sustainable growth and risk management.

HBL