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Avanse disburses highest ever loan of Rs 2,927 cr in FY22

Education-focussed NBFC Avanse Financial Services registered its highest ever disbursal of Rs 2,927 crore in 2021-22 on the back of revival in demand for loans in the post-pandemic economy. The new age technology driven non-banking financial company (NBFC) had assets under management (AUM) of Rs 4,836 crore at the end of FY22.

Last fiscal year, the company witnessed its highest ever growth in its disbursement at Rs 2,927 crore, growing by three times over 2020-21, Avanse said in a release on Wednesday.

The company reported a profit after tax of Rs 63 crore for 2021-22, a growth of 1.7-times over FY21.

At the end of FY22, the net worth was nearly Rs 1,010 crore.

Avanse said it has been able to fulfill the academic aspirations of more than 2.5 lakh students while continuing to strengthen the domestic education delivery system.

“Being an education financing organisation, we designed customised solutions for students to fulfil their academic aspirations, for professionals to acquire evolving skills and for education institutions to develop their infrastructural facilities.

“The economy gradually opened up, and organisations across sectors geared up to meet the pre-pandemic consumer demand,” Amit Gainda, MD & CEO, Avanse Financial Services said.

He said Avanse experienced a consistent and strong sequential growth in overall business performance. The company is on a robust trajectory to grow at a compound annual growth rate (CAGR) of 20-25 per cent in the next 3-5 years, Gainda said.

The NBFC provides loans to two segments –education loans to students from school to post-graduation and loans to educational institutions for financing their working and growth capital needs.

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