Shriram Group lowers growth guidance for merged finance biz in FY23

To slash excess liquidity from a 6-month to 3-month level

Turning cautious on the pace of expanding loan book, Shriram Group has scaled down growth estimates for the business of non-banking finance companies, under the merged entity, from 15 per cent to 12 per cent in FY23.

The growth rate (Year-on-Year basis) may come down when lending rates increase, and the credit demand may also come down to some extent. The growth for the combined entity (post the merger) may be about 12 per cent from earlier guidance of 15 per cent for FY23, said Umesh Revankar, Vice Chairman & Managing Director, Shriram Transport Finance Company (STFC).

"This is coming