Muthoot Microfin to foray into Andhra Pradesh, Telangana in FY24
After a gap of 13 years following the Andhra Pradesh microfinance crisis of 2010, Muthoot Pappachan Group’s microfinance arm Muthoot Microfin Ltd (MML) is all set to re-enter the Telangana and Andhra Pradesh market during the current financial year. Driven by the foray into the new markets, the company is expecting over 35 per cent rise in its assets under management (AUM) to Rs 12,500 crore during the current financial year, up from 9,209 crore in 2022-23.