₹1.3 Lakh Cr AUM: Can Sammaan Capital become one of India’s Top 3 NBFCs?

Synopsis: Sammaan Capital aims to be a top-three NBFC by FY29, targeting strong AUM growth and profitability. Backed by IHC investment, it plans expansion, lower funding costs, wider customer reach, and stable asset quality.

This Small-cap NBFC Stock, engaged in the business of providing housing finance and other lending services as a mortgage‑focused non‑banking financial company (NBFC), primarily offering home loans, loans against property, and MSME‑related finance, is in focus after the management aims for the top 3 NBFC spot by the financial year 2029, after a $1 billion IHC deal.

With a market capitalization of Rs. 12,119.25 crore, the shares of Sammaan Capital Limited were currently trading at Rs. 146.25 per equity share, down nearly 0.27 percent from its previous day’s close price of Rs. 146.65.

What is the News?

Sammaan Capital, led by Gagan Banga, has set an ambitious goal to become one of India’s top three NBFCs by FY29. The company is targeting assets under management (AUM) of about Rs. 1.3 lakh crore along with a return on equity (RoE) of 18-19 percent, showing a strong focus on growth and profitability.

A key development supporting this plan is the investment by International Holding Company PJSC (IHC), which will acquire a 41.5 percent stake and become the promoter. This partnership is expected to improve the company’s financial strength and provide capital for expansion. IHC may also decide to increase its stake or deploy more funds for business growth in the future.

In the short term, Sammaan Capital expects a reduction of around 200 basis points in its cost of funds over the next 6 to 12 months. This will help improve profitability. Over the next 18 months, the company plans to increase loan disbursals after testing new products and improving technology systems.

Sammaan Capital also plans to expand its customer base to about 5 crore by FY29, focusing mainly on low- to mid-income groups where demand is steady. This will help build a stronger and wider lending business.

The company expects credit costs to stay around 100-150 basis points and capital adequacy above 20 percent. Overall, it remains confident of strong growth, stable asset quality, and better financial performance in the coming years.

AUM and Business Highlights:

Sammaan Capital Limited showed steady financial performance in Q3FY26 compared to Q3FY25. The company’s net worth increased from Rs. 20,331 crore to Rs. 22,423 crore, reflecting stronger financial stability. Its growth AUM also rose significantly from Rs. 34,952 crore to Rs. 44,038 crore, indicating expansion in its core business and improved asset base.

At the same time, legacy loans reduced from Rs. 26,995 crore to Rs. 20,162 crore, showing better asset quality and focus on newer lending. The total AUM increased from Rs. 61,947 crore to Rs. 64,200 crore, highlighting overall growth and improved portfolio strength for the company.

Branch Network:

Sammaan Capital Limited has a strong distribution network with 218 branches across locations. It is supported by a large in-house sales team of 1,956 members, including 1,300 feet-on-street staff, along with more than 8,000 empanelled vendors. The branch network includes head offices, service centers, main branches, service branches, and semi-urban outlets, ensuring wide reach and customer accessibility.

Key Financial Metrics:

Sammaan Capital Limited showed a slight improvement in its profitability during Q3FY26. The Net Interest Margin (NIM) increased from 5.2 percent to 5.3 percent, indicating better earnings from its lending activities. This reflects efficient management of interest income and expenses.

On the asset quality side, GNPA rose slightly from 1.1 percent to 1.2 percent, while NNPA remained stable at 0.7 percent. This means that while there was a small increase in stressed assets, overall loan quality stayed largely under control.

Company Overview:

Sammaan Capital Limited is an Indian non-banking financial company (NBFC) focused on housing finance for underserved and low-income borrowers. It operates primarily in India’s affordable housing segment, providing small-ticket home loans and related credit services to individuals traditionally excluded from formal banking systems.

Recent Quarter Results:

Coming into financial highlights, Sammaan Capital Limited’s revenue has increased from Rs. 2,017 crore in Q3 FY25 to Rs. 2,158 crore in Q3 FY26, which has grown by 6.99 percent. The net profit has also grown by 3.97 percent from Rs. 302 crore in Q3 FY25 to Rs. 314 crore in Q3 FY26.

In terms of return ratios, the company’s ROCE and ROE stand at 3.65 percent and -8.66 percent, respectively. Sammaan Capital Limited has an earnings per share (EPS) of Rs. 15.5, and its debt-to-equity ratio is 2.04x.

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