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IIFL Finance's Nirmal Jain says ₹5,000 crore profit by FY29 should be achievable

Reported by: CNBC TV18 ·

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IIFL Finance

Summary

CNBC TV18 reported that IIFL Finance founder and managing director Nirmal Jain said a ₹5,000 crore profit by FY29 should be achievable. He said the company plans to use around 70% of its ₹6,414.2 crore fundraise for fresh loan disbursements, and the remaining 30% towards loan repayments. The headline also names Blackstone, but gives no further detail on its role. FY29 means the financial year ending March 2029, so the figure is a goal for profit several years ahead, not a result already reported. A fundraise is money the company raised, here ₹6,414.2 crore, and loan disbursement means the money it lends out to borrowers. The 70:30 split describes how that raised money is meant to be used. This is the company's own stated plan and target, as reported by CNBC TV18.

AI summary of what CNBC TV18 reported. AI can make mistakes. Read the full story on CNBC TV18

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CNBC TV18  · · Tone 0

IIFL Finance's Nirmal Jain says ₹5,000 crore profit by FY29 should be achievable

IIFL Finance Founder and Managing Director Nirmal Jain said the company plans to use around 70% of the ₹6,414.2 crore fundraise for fresh loan disbursements and the remaining 30% towards loan repayments. Blackstone will…

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