Kaushik Mehta, founder & CEO of Ruloans said “In FY 23, we started our insurance distribution business and we did Rs 12 crore collection. We have tie-ups with Tata AIA, HDFC Life, Future Generali, ICICI Prudential, and a few others.”
He added “We are entering into real estate broking business in a big way. In FY23, we made a business of Rs 35 crore and in FY24 our target is Rs 100 crore business. We bring in the customer to the developer to sell the property and the housing loan too. We are offering this service in Mumbai, Pune, Nasik, Delhi, and Bangalore.”
“Housing loan is the best-selling product among all our loan products that we distribute.”, said Mehta . The minimum home loan ticket size for Mumbai is Rs 1.25 crore, Delhi is Rs 50 lakh and Ahmedabad may be in the region of Rs 30 -40 lakh.
In FY 23, Ruloans facilitated the disbursement of Rs 26,000 crores of retail loans. With a vision to achieve a turnover of 2,500 crores by 2026 and disbursements of over 1,00,000 crores Ruloans is poised to expand their partner network to encompass more than 75,000 partners by 2026.
Mehta said that Ruloans did a credit card business of 1.25 lakhs in FY 23. “Our target in FY24 is to do a business of 3.5 lakh credit cards,” he said.Ruloans had witnessed a topline of Rs 500 crore in FY 23 and a net profit of Rs 32 crore. In FY24, it aims to achieve a topline of Rs 800 – Rs 1000 crore topline and a profit of Rs 80 crore.Ruloans has a vast portfolio comprising more than 200 partner banks and NBFCs, enabling them to offer a wide range of financial solutions to customers. With a presence in over 2,000 cities across India and over 600 hubs & spoke offices at key locations, Ruloans has established a strong and accessible network in urban, semi-urban, and rural India. The company services more than 27,000 PIN codes across India, including up to Tier 5 cities.
In line with their commitment to partner convenience, Ruloans recently launched RUCONNECT, a user-friendly mobile application available on both the Google Play Store and Apple App Store. This app serves as a comprehensive ecosystem for partners and customers, offering seamless access to various financial products.
The implementation of digital tools, such as end-to-end online applications, e-KYC processes, and credit health checks, has further enhanced the loan application and disbursal process, reducing processing time and effort for customers. Ruloans is aggressively integrating with its bank and NBFC partners to offer a completely digital experience to its partners and customers.
