Stock Held by BlackRock Targets ₹1.94 Lakh Crore AUM and 300% Profit Growth by FY30

Synopsis: Sammaan Capital is entering a new growth phase backed by IHC, focusing on balance sheet strength, AI-led transformation, lower funding costs, branch expansion, and scalable lending across retail and corporate segments. 

The shares of this small cap company majorly engaged in the business of providing home loans and loan against property and  providing corporate mortgage loan – lease rental discounting and residential construction finance and many more were in focus after the company targets AUM of Rs. 1.94 Lakh Crores by FY30

With the market capitalization of Rs. 20,205 Crores, the shares of Sammaan Capital Ltd were trading at around Rs. 174 per share which is 10 percent discount from its 52 week high of Rs. 193 per share and is trading at a D/E of 2.73  

Investment & Strategic Partnership

Sammaan Capital completed its strategic partnership with IHC, receiving ₹5,652 crore through equity infusion, with an additional ₹3,198 crore expected via warrant conversion. Following the transaction, IHC holds 28.5% equity, which is expected to rise to 43.5% after warrant conversion, strengthening the company’s capital base and long-term growth visibility. The company believes IHC’s expertise in technology, AI, risk management, and governance can accelerate business expansion

Strong Foundation for Growth

The company enters its growth phase with an AUM of ₹53,160 crore, net worth of ₹18,991 crore, and a nil GNPA/NNPA position. Management highlighted that the existing portfolio has already undergone significant stress testing and deleveraging, providing a strong base for future expansion while limiting incremental provisioning requirements.

FY30 Growth Roadmap

Sammaan Capital projects AUM growth from ₹53,160 crore to ₹1.94 lakh crore by FY30, representing an increase of about 265%. Loan book size is expected to expand from ₹53,000 crore in FY27 to ₹1.31 lakh crore in FY30, a rise of around 146%. Annual disbursements are projected to increase from ₹30,100 crore to ₹92,000 crore, implying growth of approximately 206%.

Profitability Expected to Improve Sharply

The company expects profit after tax to rise from ₹1,400 crore in FY27 to ₹5,600 crore in FY30, translating into a 300% increase. Return on Assets (ROA) is projected to improve from 1.8% to 8.1%, while Return on Equity (ROE) is expected to rise from 6.8% to 18.7%, reflecting the benefits of scale, lower funding costs, and improved operating efficiency.

AI-Led Digital Transformation

Sammaan Capital plans to leverage IHC’s technology capabilities to improve underwriting, fraud detection, collections, customer service, and operational efficiency. AI initiatives are expected to deliver a 30% increase in agent productivity, improve fraud detection rates by 30-40%, reduce loan processing timelines from 5-7 days to 2-3 days, and lower the cost-to-income ratio to around 26% by FY30.

Expansion of Distribution Network

The company plans a significant scale-up in distribution. Branches are projected to increase from approximately 270 in FY27 to 1,600 by FY30, representing growth of nearly 493%. Employee count is expected to rise from 8,000 to 20,000 (150% growth), while the customer base is targeted to expand from 2.4 lakh to 22 lakh customers, an increase of more than 800%.

Diversified Lending Platform

Beyond its existing mortgage, business loan, personal loan, and CRE lending businesses, Sammaan Capital intends to expand into newer products including gold loans, loan against securities, green loans, machinery-backed loans, micro-construction finance, bridge loans, overdraft facilities, and NBFC financing, aiming to become a full-suite lender over the next few years.

FY26 Financial Performance

For FY26, total revenue from operations stood at ₹8,166 crore, compared with ₹8,623 crore in FY25, reflecting a decline of approximately 5.3% YoY. The company reported a loss of ₹7,145 crore versus a loss of ₹1,807 crore in FY25, largely due to exceptional items and elevated impairment charges undertaken as part of balance sheet clean-up and provisioning actions.

Sammaan Capital is positioning itself for a significant growth phase after strengthening its balance sheet and bringing IHC on board as a strategic promoter. The company is targeting rapid expansion in lending, distribution, customer reach, and profitability while leveraging technology and AI to improve efficiency. With stronger capital support, upgraded credit ratings, and a diversified product roadmap, management aims to transform the company into a large-scale, full-service financial institution while maintaining disciplined risk management and sustainable long-term growth.

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