Loan distributor firm Andromeda on Thursday said it closed the 2024-25 fiscal year with total loan disbursals of Rs 1.08 lakh crore, marking a 25 per cent year-on-year growth. The company has set a target of Rs 1.20 lakh crore in disbursals for the financial year 2025-26, Andromeda Sales and Distribution said in a statement.
Over the last four years, Andromeda said it has consistently scaled new heights, with loan disbursals growing from Rs 38,872 crore in 2021-22 to Rs 64,000 crore in 2022-23, and further to Rs 86,500 crore in 2023-24.
This growth trajectory has been led primarily by home loans, which accounted for Rs 48,000 crore in disbursals, registering a growth of over 30 per cent, Andromeda said.
Loans against property stood at Rs 41,000 crore, reflecting the increasing demand for secured loan products in urban and semi-urban markets.
"The launch of our OneAndro app and continued focus on secured lending and tech enablement has allowed us to widen our footprint while enhancing customer and partner experience. We expect to sustain our growth in 2025-26 with a sharper digital focus and deeper penetration in Tier 2 and Tier 3 markets," said Raoul Kapoor, Co-CEO of Andromeda Sales and Distribution.
The company also said that with the Reserve Bank of India initiating policy rate cuts over the last two MPC meetings and further reductions likely on the horizon-interest rates are expected to soften further.
This will likely spur demand across all loan categories. Andromeda anticipates strong business growth in 2025-26, driven by improved borrowing conditions and greater consumer appetite for credit, it said.
Andromeda has 470 branches and a distributor network of over 25,000 partners.
Over the last four years, Andromeda said it has consistently scaled new heights, with loan disbursals growing from Rs 38,872 crore in 2021-22 to Rs 64,000 crore in 2022-23, and further to Rs 86,500 crore in 2023-24.
This growth trajectory has been led primarily by home loans, which accounted for Rs 48,000 crore in disbursals, registering a growth of over 30 per cent, Andromeda said.
Loans against property stood at Rs 41,000 crore, reflecting the increasing demand for secured loan products in urban and semi-urban markets.
"The launch of our OneAndro app and continued focus on secured lending and tech enablement has allowed us to widen our footprint while enhancing customer and partner experience. We expect to sustain our growth in 2025-26 with a sharper digital focus and deeper penetration in Tier 2 and Tier 3 markets," said Raoul Kapoor, Co-CEO of Andromeda Sales and Distribution.
The company also said that with the Reserve Bank of India initiating policy rate cuts over the last two MPC meetings and further reductions likely on the horizon-interest rates are expected to soften further.
This will likely spur demand across all loan categories. Andromeda anticipates strong business growth in 2025-26, driven by improved borrowing conditions and greater consumer appetite for credit, it said.
Andromeda has 470 branches and a distributor network of over 25,000 partners.
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