India has 25,000 tonnes of dead gold, says Muthoot CEO
India holds around 25,000 tonnes of unutilised gold, and Muthoot Finance is working to unlock this 'dead asset' and put it to productive use, said Joint Managing Director Alexander George Muthoot.
“I think that thrust on the attitudinal transformation in the customers is
growing by leaps and bounds every year because of our significant investments
that we make into marketing, working on the attitudinal transformation of
putting this dead asset to productive use,” he said.
Muthoot highlighted the company's business transformation and lead acquisition strategy, which has resulted in record loan disbursements to new customers. The company has added nearly 13,70,178 new customers and disbursed loans worth ₹15,723 crore.
“Our thrust on new customer acquisition stands and we are positive of a good
quarter four (January-March 2025) also,” Muthoot said.
Muthoot Finance has made improvements in operational efficiency across its vast
branch network. The per-branch productivity has increased to ₹19.15 crore
in gold loan assets under management (AUM), up from ₹14 crore over the
last nine months.
Muthoot is also focusing on the affordable housing finance segment and is
successfully cross-selling to its existing customer base.
Muthoot Finance reported a strong financial performance, with a 32.7% year-on-year (YoY) rise in net profit to ₹1,363 crore for the October-December quarter of FY25, compared to ₹1,027.3 crore in the same period last year. The company’s net interest income (NII) surged 42.8% YoY to ₹2,721.4 crore, up from ₹1,905.7 crore in Q3 FY24.
The market capitalisation of Muthoot Finance stands at around ₹93,151.67 crore, with its shares gaining nearly 70% over the past year.
Source: https://www.cnbctv18.com/