Bajaj Finserv to grow loan book by 30% during festive season

MUMBAI: Non-banking financial company Bajaj Finserv today said it is aiming to register a 30 per cent loan growth during the ongoing festive season.

We are targeting to grow loan book to Rs 1,900 crore from the present Rs 1,500 crore, the Pune-based company said in a statement.

"Consumer sentiments are buoyant during festive season and they tend to splurge more on consumer and lifestyle goods. We are expecting to garner a good growth over these festival sales," Bajaj Finserv, President for Consumer Finance, Devang Mody said.

It has also launched a special campaign to achieve the target and christened it 'Sparkling Diwali'. It is expecting a total of six lakh loan applications in the period, the statement said.

The company has also launched customised offers based on the consumers' buying patterns and aspirations, which will be on in 81 cities, across 5,000 retail outlets from October 15 till the end of Diwali celebrations on November 18, it added.

The company had posted a 48 per cent jump in its September quarter net profit at Rs 129 crore in numbers made public earlier this month.

Shares of the company closed 6.55 per cent down at Rs 861.25 apiece on the BSE.