Mumbai-based NBFC Capri Global Capital plans to grow its loan book to ₹1 lakh crore within three-and-a-half years, fueled by its gold loan business. The company has also raised its annual profit guidance to ₹1,500 crore and is exploring a $500 million capital injection. Investors are watching the execution of this aggressive branch expansion and the company's ability to maintain asset quality.
Capri Global Capital has outlined a major growth strategy to more than double its assets under management—the total value of loans it manages—to ₹1 lakh crore within the next three to three-and-a-half years. To achieve this, the Mumbai-based non-banking financial company (NBFC) is banking heavily on its gold loan business and a significant expansion of its physical branch network.
The company currently operates 1,433 locations and plans to add 400 more by December 2026. A large portion of these new branches will focus on the gold loan segment, which currently makes up nearly half of the company’s portfolio. While there has been market speculation, the company has officially confirmed that it has no plans to demerge or separately list its gold loan division, choosing to keep it as a core part of its integrated business model.
Financial performance has been strong, with the company reporting a consolidated net profit of ₹353 crore in the first quarter of the 2027 fiscal year, compared to ₹175 crore in the same period last year. Based on this momentum, the management has revised its profit after tax guidance for the full year to ₹1,500 crore, up from an earlier estimate of ₹1,300 crore. To support this scale of growth, the company is in early-stage discussions with global financial firms like Citibank and Jefferies for a primary-plus-secondary fundraise of up to $500 million.
Despite the positive growth targets, the company faces specific monitorables for investors. The aggressive push into the gold loan sector introduces concentration risk, meaning the firm’s health is increasingly tied to the performance and demand in this single category. Furthermore, while the company has achieved a long-term credit rating upgrade to ACUITE AA+ with a stable outlook, it has previously faced minor regulatory penalties. In recent months, the company received fines of ₹74,000 each from both the BSE and NSE for delays in compliance-related disclosures. While management has indicated these regulatory issues do not impact core operations, they serve as a reminder of the importance of maintaining strict governance as the firm scales rapidly.
Investors will likely track the company's progress on three fronts in the coming quarters: the actual execution and profitability of the new 400 branches, the successful conclusion of the proposed capital raise, and the maintenance of asset quality, particularly regarding non-performing assets in its other segments like construction finance and MSME loans. The ability to balance this rapid expansion with prudent risk management will remain the key test for the firm's leadership in the upcoming fiscal cycles.