Ahmedabad: NBFC Hero Fincorp, led by Abhimanyu Munjal, has seen an increase of 80 percent in debt right-off in the first three quarters of FY 2025. Rupee. Debt waiver increased from Rs 1215 crore to Rs 1215 crore. It has reached 2180 crores.
According to the regulatory filing, the company has raised Rs 1,000 crore. The loans inserted into more than 2.95 lakh ratte accounts worth Rs 1875 crore have been sold for only Rs 49.85 crore. In the first nine months of FY 2024, the lender waived loans worth Rs 1214.7 crore. As of 31 December 2024, Hero Fincorp’s gross NPA was 5.36 percent. Increasing poor debt has affected the company’s profits. As of September 30, 2024, the assets under the management of Hero Fincorp were Rs 53,642 crore, with individual loans (30.7 percent), two-wheelers finance (16.9 percent), safe small and medium sized enterprises (MSME loan- 12.9 percent), unsafe MSME Loans (11.2 percent), corporate loans (9.7 percent), used car finance (7.3 percent), home loan (6.7 percent) and loan (4.7 percent) against property and others were included.
