Shriram Transport eyes Rs 42,000 cr AUM in two years

Shriram Transport eyes Rs 42,000 cr AUM in two years
Shriram Transport Finance suggested it plans to raise its assets under management (AUM) worth Rs 42,000 crore in next two years. The company that provides finance for the trucks between 2-12 years old planned the growth after getting influenced by the business originating from pre-owned truck finance.

It is estimating the pre-owned commercial vehicles market to grow by 15-20 per cent annually.

Commenting on the plan, company's Vice President Rajeev Garg said, "We are expecting our AUM to reach Rs 40,000 crore-Rs 42,000 crore in the next 2 years with 70 per cent of business coming from truck finance operations."

Tracking the history, the AUM of Shriram Finance witnessed a three-fold growth from Rs 12,092 crore in 2006-07 to Rs 36,182 crore in 2010-2011. Meanwhile, by raising the AUM, the company aims at expanding its networking and further entering into partnership with private financiers across India involved in commercial financing.

Simultaneously, it is also making its way to grow in sectors such as lending to commercial equipment, multi-utility vehicles, three wheelers, tractors and passenger commercial vehicles. 

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