Repco Home Finance Ltd.’s, (RHFL) Board has approved plans to reach ₹20,000 crore Assets Under Management (AUM) by FY27 from ₹13,185 crore now, CEO K. Swaminathan said during an interaction.

RHFL’s Board also approved plans to add 40 branches annually to the existing 166 and bring down gross non-performing asset to less than 2% from 4% now.

“If the company benefits due to external factors, like government schemes on affordable housing, the growth could be much higher, with AUM reaching almost ₹25,000 crore by 2027,” added Mr. Swaminathan.

While RHFL would miss its disbursal target of ₹3,600 crore for FY24, the company plans to grow at 12% for this fiscal, and 14%, 17% and 20% in the coming years.

50% of new branches would be in Tamil Nadu, RHFL’s core market, but states where the company has presence like Gujarat are also being explored.

Currently, the company has 57% of its branches in Tamil Nadu. The company plans to maintain this presence so as not to lose its grip in its core market. However, it will be eyeing tier-2 and 3 cities in its expansion plans.