Capri Global raises its medium term AUM targets
Capri Global Capital has raised its assets under management targets for the next two financial years after reporting strong growth in the first quarter of FY27.
Management now expects consolidated AUM to reach ₹50,000 crore in FY27 and ₹65,000 crore in FY28. The company had earlier guided for ₹47,000 crore of AUM in FY27.
The revised targets were discussed during the companys Q1 FY27 earnings call held in July 2026. Management said the business remains on course to achieve the higher FY27 target and expects quarterly AUM additions of around ₹3,000 crore to ₹3,500 crore.
Current AUM stands at ₹40,112 crore
Capri Global Capital reported consolidated AUM of ₹40,112 crore at the end of Q1 FY27, representing a 62% year on year increase and a 10% rise from the previous quarter.
The company said growth remained diversified and retail led, supported by expansion across gold loans, MSME lending, housing finance and construction finance.
Gold loans remain the biggest growth engine
Gold lending continued to be the largest contributor to Capri Globals portfolio. Gold loan AUM reached ₹19,179 crore in Q1 FY27, increasing 111% year on year and 13% sequentially.
The company had around 1,000 gold loan branches during the quarter. Management said branch productivity improved, with aggregate AUM per branch rising to about ₹19 crore.
Capri Global also reported gold loan gross stage 3 assets at 0.3%, indicating that reported asset quality in this segment remained relatively contained during the quarter.
MSME portfolio grows 24%
The companys MSME AUM increased to ₹6,779 crore in Q1 FY27, up 24% year on year.
MSME disbursements stood at ₹616 crore during the quarter, representing a 32% year on year increase. Capri Global is also expanding its presence in southern India, including Telangana and Karnataka.
The companys Micro LAP business, which serves emerging self employed borrowers with smaller loan requirements, reached AUM of ₹876 crore by the end of the quarter.
Housing finance AUM rises 42%
Housing finance AUM stood at ₹7,815 crore, representing 42% year on year growth.
The company said demand remained resilient in the affordable housing segment. Its expansion into southern states has also been positioned as a way to improve geographic diversification and increase the reach of its housing business.
Construction finance grows to ₹6,332 crore
Capri Globals construction finance AUM increased 40% year on year to ₹6,332 crore.
The portfolio covered 291 active residential projects at the end of Q1 FY27. The company said the book remains diversified by geography and focused on mid sized developers in metro and Tier 1 markets.
Profit more than doubles in Q1 FY27
The stronger AUM growth was accompanied by substantial improvement in profitability.
- Profit after tax: ₹353 crore, up 102% year on year.
- Net interest income: ₹736 crore, up 79% year on year.
- Pre provision operating profit: ₹532 crore, up 171% year on year.
- Non interest income: ₹217 crore, up 28% year on year.
- Disbursements: ₹11,114 crore, up 31% year on year.
Return on average equity stood at 19.1%, while return on average assets was 4.1% during the quarter.
400 new branches planned for FY27
Capri Global plans to add around 400 branches during FY27 as it expands its geographic footprint.
Management said it expects more than 150 branches to be added by the end of Q2 and additional branches to be opened later in the year.
The expansion is aimed at supporting loan growth in gold finance, housing, MSME and other secured retail lending businesses.
Company expects strong returns through FY28
Along with the higher AUM targets, management expects return on average equity to remain in the 19% to 21% range and return on average assets to remain around 4.2% to 4.7% by FY28.
The company is also working to keep its cost to income ratio around 44% to 45% over the next 12 to 18 months while improving branch productivity and using technology across lending operations.
Technology and funding are part of the expansion strategy
Capri Global said technology remains central to its scaling strategy. The company is using data science and digital systems across sourcing, underwriting, collections and customer engagement.
The company has also established a USD 1 billion global medium term note programme to diversify its borrowing sources and support future funding requirements.
Asset quality remains an important watch point
Rapid loan growth also brings execution and credit risks. Capri Global reported a consolidated gross stage 3 ratio of 1.1% and a net stage 3 ratio of 0.6% at the end of Q1 FY27.
Management continues to monitor gold price volatility, construction finance performance, funding costs and the impact of rapid branch expansion.
For investors and business observers, the key question is whether the company can sustain its high growth rate while maintaining asset quality and returns as the loan book becomes larger.
What the revised targets mean
The move from the earlier FY27 AUM target of ₹47,000 crore to ₹50,000 crore indicates stronger near term management confidence. The FY28 target of ₹65,000 crore would represent a further step up in scale.
However, these are management targets rather than guaranteed outcomes. The actual AUM path will depend on disbursement growth, funding availability, branch productivity, credit quality and demand across the companys lending segments.
Key takeaway
Capri Global Capital has raised its FY27 AUM target to ₹50,000 crore from ₹47,000 crore and set a target of ₹65,000 crore for FY28. The company entered FY27 with ₹40,112 crore of consolidated AUM after 62% year on year growth in Q1.
Gold loans remain the largest growth driver, while MSME, housing and construction finance are also expanding. The company plans around 400 additional branches in FY27 as it works toward becoming a larger pan India retail lender.
