Future Capital to grow retail loanbook to Rs 1k-cr by end-FY11

MUMBAI: Future group company Future Capital Holding (FCH) is betting big on its retail business and plans to grow its loan-book in the segment to Rs 1,000-crore by end -this fiscal, a top company official said.

"We are upbeat on the retail business which is a Rs 3-trillion market opportunity. We plan to grow our loan-book here from the present Rs 300-crore to Rs 1,000-crore by end-FY 11," Future Capital Holding vice-chairman and managing Director V Vaidyanathan said on Thursday.

The company has entered into the secured lending business and plans to roll-out its products in this segment soon.

"We are fine-tuning our plans presently," Vaidyanathan said, without, however, disclosing any details.

In a move that hogged media headlines, Vaidyanathan was lured from the ICICI group to join Future Capital Holding about three months ago. Vaidyanathan was offered a stake in the company by Biyani which transformed him from professional employment to an entrepreneurship.

Even as he is formulating strategies to propel the company on the rapid-growth path, Vaidyanathan today made his first major move to beef up the company's top management tier through a senior appointment.

The company today announced the appointment of Apul Nayyar as the CEO of its retail financial services.