Hyderabad, 24 December 2024: Shriram Finance Limited, the flagship company of the Shriram Group, has reported significant growth in its MSME loan portfolio in Andhra Pradesh and Telangana over the last fiscal year.
As of September 2024, Shriram Finance’s total MSME Assets Under Management (AUM) for Andhra Pradesh stood at ₹4,907.89 crores, while Telangana accounted for ₹4,666.20 crores. Shriram Finance’s total AUM, as on Sept. 30, 2024, for MSME’s stands at ₹32,299.68 crores contributing 13.29% of their overall AUM of ₹2,430,42.55 crores across all business.
Shriram Finance operates a vast network of 3,149 branches across India, catering to customers in diverse areas. Of these, 423 branches are in urban locations, while 1,043 branches are in semi-urban locations and 1,683 branches are in rural regions. Shriram Finance’s commitment to serving rural communities and driving financial inclusion in underserved areas ensuring financial services are accessible to all is underlined by the fact that majority of their branches are in rural India.
In Andhra Pradesh, Shriram Finance operateranches, including 30 in urban centers, 116 in semi-urban areas, and 158 in rural communities. Similarly, in Telangana, the compas 304 bny has established 207 branches, with 46 in urban locations, 56 in semi-urban areas, and 105 in rural regions.
Recognizing the states’ consistent high rankings in Ease of Doing Business (EoDB), Shriram Finance aims to capitalize on these favorable conditions and scale its operations further. Shriram Finance plans to accelerate growth in Andhra Pradesh and Telangana by focusing on developing skilled labor, refining its credit underwriting processes, and capturing new market opportunities. The company’s MSME lending portfolio spans three core sectors: Manufacturing, Services, and Trading.
Mr. K Srinivas, Joint Managing Director, Shriram Finance Limited, speaking about the company’s vision, said, “Shriram Finance is committed to fostering growth in Andhra Pradesh and Telangana by building a supportive ecosystem for MSMEs. Our focus on customer satisfaction, operational excellence, and strategic partnerships positions us to drive sustainable growth and contribute significantly to India’s economic development.”
Government initiatives like the Emergency Credit Line Guarantee Scheme (ECLGS) have been instrumental in supporting the recovery of MSMEs post-COVID. Building on this momentum, Shriram Finance is enhancing credit access through a combination of branch expansions, digital marketing strategies, and strategic partnerships.
Shriram Finance is dedicated to supporting both secured and unsecured loan segments, offering quick and hassle-free disbursals along with tailored value-added services designed for MSMEs. This approach aligns with India’s anticipated GDP growth of 6.5% to 7%, enabling the company to strategically cater to thriving and emerging sectors while fostering balanced growth.
Looking ahead, the company’s five-year roadmap includes scaling its MSME portfolio across India while maintaining Andhra Pradesh and Telangana as pivotal regions in its growth strategy. By addressing customer needs and leveraging its extensive network, Shriram Finance is poised to enable MSMEs to achieve their aspirations and thrive in a dynamic economic environment.
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