UGRO Capital’s AUM rises by 97 percent in Q3FY23 on YoY basis

UGRO Capital, a DataTech NBFC and pioneer of LaaS in India continues its growth momentum in the third quarter of FY23 and crosses INR 5,000 Cr AUM market. UGRO Capital’s AUM stood at INR 5,095 Cr (as on Dec’22), up 97% compared to Dec’21. The company’s Total Income Q3’23 stood at INR 189.6 Cr (up 123% YoY and 22% QoQ) and INR 466.6 Cr for 9M’23 (up 134% compared to 9M’FY22).

UGRO Capital has effectively leveraged the co-lending partnerships with off-book AUM at 35%, up from 29% as of September 2022. It has achieved its FY23 guidance of 35% off book AUM mix a quarter in advance. UGRO Capital has collaborated with ten co-lending partners, over 65 lenders, 25 fintech’s, and 1,000 GRO partners to provide data-backed customized credit solutions to a large number of borrowers in the country’s 150+ small tier 2 towns.

Commenting on the results, Mr. Shachindra Nath, Vice Chairman and Managing Director of UGRO Capital said, “We scaled our business, reached the INR 5,000 Cr AUM milestone, and met our FY23 off book AUM guidance a quarter ahead of schedule thanks to our unwavering focus on our core competencies, extensive use of data analytics in decision-making, and widespread acceptance in the banking and MSME industries. Our Q3’23 results, with the highest ever disbursement and improved profitability, demonstrate our unwavering commitment to growth. We continue to make progress towards the company’s core profitability on QoQ basis.

We have already assisted over 38,000 MSMEs and disbursed over INR 10,500 crores. Taking the pandemic into account, we reached this level in about 2.5 years, beginning in April of 2019. This is incomparable, especially when compared to our overall credit performance, which is industry leading. Our underwriting model, GRO Score 3.0, is being upgraded to derive power insights and better underwrite the MSME segment, and we will soon launch a credit line on UPI for small businesses.”