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Andromeda’s Loan Disbursal Surge by 23% to Rs 75,397 Crore in FY24, Higher Aim for FY25


Andromeda’s Loan Disbursal Surge by 23% to Rs 75,397 Crore in FY24, Higher Aim for FY25


Andromeda Sales and Distribution, India’s leading loan distribution network, witnessed remarkable growth in its loan disbursal business during the Financial Year (FY) 2023-24. The loans disbursal soared by over 23% to touch Rs 75,397 crore, driven primarily by the stellar performance of the home loan segment. The home loan business surged to approximately Rs 33,918 crore in FY24, up by over 22% from Rs 27,798 crore in FY23.

In FY24, the Loan against Property distribution hovered around Rs 24,776 crores, an increase of 10.33% from the preceding year’s Rs 22,456 crores. Meanwhile, business loans experienced a notable surge of approximately 32%, rising from Rs 5,255 crores in FY23 to Rs 6,927 crores in FY24. Moreover, there was a substantial increase observed in the personal loan and other loan segments as well.

Established in 1991 as a Direct Sales Associate for Citibank, Andromeda has evolved into India’s largest loan distribution firm. The company’s diverse loan portfolio includes home loans, loans against property, personal loans, business loans, and other loan products. Apart from loans, Andromeda (via its group companies) is also involved in insurance and mutual fund distribution. With these initiatives, we aim to provide our agents, employees and customers a one-stop shop for any financial services products.

Home loans and loans against property are the primary revenue drivers for Andromeda. According to Raoul Kapoor, Co-CEO of Andromeda Sales and Distribution Pvt Ltd, “Despite a 50-bps increase in interest rates, the demand for home loans continues to grow, buoyed by a positive economic outlook. Digitalization, faster approvals, and increased availability and flexibility have fueled higher demand for personal loans.”

Andromeda’s loan portfolio has witnessed exponential growth, increasing nearly fivefold from Rs 15,333 crore in FY 2018-19 to Rs 75,397 crore in the fiscal year ending March 2024, across all segments. A significant surge has been observed in the affordable housing loan sector in the second half of the current fiscal year, accompanied by a high-ticket-size demand in personal loans from salaried employees.

Andromeda has expanded its presence nationwide by establishing numerous new branches across the country. With a presence in over 100 towns and cities, the company has ambitious expansion plans. During the fiscal year ended March 2024, the company expanded its branch network to 470 branches from about 350 in the preceding year. Andromeda aims to further increase the number of branches substantially in the current financial year.

The launch of the OneAndro App marks a notable achievement for Andromeda. It offers a range of benefits for lenders and the Andro sales team, including simplified agent onboarding processes and quick disbursals across various product categories. This initiative aims to streamline financial processes and enhance the customer experience.

Mr. Kapoor emphasized the company’s heavy reliance on technology to manage a robust agent base of over 25,000, which is set to increase significantly. He expressed confidence in the current fiscal year, anticipating a decrease in interest rates as inflation is likely to ease. Looking ahead, Mr. Kapoor anticipates growth in the number of agents across India, increase in disbursals across multiple products, expansion of branches nationwide, and increased reach to tier 2 and tier 3 cities.


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