Andromeda Rockets Ahead with Record Loan Disbursals and Ambitious Goals

Loan distributor firm Andromeda has achieved a 25% year-on-year growth, closing the fiscal year 2024-25 with Rs 1.08 lakh crore in loan disbursals. The company aims for Rs 1.20 lakh crore in 2025-26, driven by home loans and loans against property. Andromeda eyes further growth with policy rate cuts expected.

In a significant financial leap, Andromeda, a preeminent loan distributor firm, announced it closed the 2024-25 fiscal year with Rs 1.08 lakh crore in loan disbursals, registering a 25 percent year-on-year growth.

Looking ahead, the company aims for an ambitious Rs 1.20 lakh crore in loan disbursals for the financial year 2025-26. This growth can be attributed mainly to expanding home loans and the increasing popularity of secured loan products in urban and semi-urban areas.

Co-CEO Raoul Kapoor credits the success to Andromeda's OneAndro app and its strategic focus on tech enablement and secured lending. With over 470 branches and a robust distributor network, Andromeda is well-positioned to capitalize on softened interest rates and heightened demand for credit in the upcoming fiscal year.

(With inputs from agencies.)