Mumbai, Nov 14: Sammaan Capital Limited today announced its financial and operational performance for the second quarter and half year ended September 30, 2026, reporting strong sequential growth in disbursements and profitability, alongside an improvement in asset quality.
The Company’s Assets Under Management stood at ₹59,188 crore as of September 30, 2026, compared with ₹56,239 crore at the end of Q1FY27. Disbursements during the quarter increased to ₹6,278 crore, registering a growth of 62% over the preceding quarter. The Company disbursed approximately 30,700 loans during Q2FY27, taking total disbursements for H1FY27 to ₹10,153 crore across approximately 42,600 loans.
Profit before tax for Q2FY27 stood at ₹425 crore, up 30% sequentially from ₹326 crore in Q1FY27. Profit after tax increased 28% quarter-on-quarter to ₹312 crore, compared with ₹243 crore in the previous quarter. PAT for H1FY27 stood at ₹556 crore.
Asset quality continued to strengthen during the quarter. Gross Non-Performing Assets improved to 0.15%, compared with 0.21% in Q1FY27, while Net Non-Performing Assets declined to 0.11% from 0.15%. The Company reported a blended cumulative collection efficiency of 99.6%. Its total provisions represented 10.2% of the loan book, reflecting a conservative provisioning approach.
The Company’s net worth stood at ₹19,445 crore as of September 30, 2026, excluding the proceeds of ₹906 crore received from the first tranche of warrant conversion completed on October 30, 2026. Capital adequacy remained strong at 20.0%.
Strengthening capital and strategic partnership
During the quarter, Sammaan Capital continued to strengthen its institutional and governance framework. Her Excellency Dalia Khorshid joined the Board as an IHC nominee director, while BDO was appointed as the Company’s internal audit co-sourcing partner. The Company also strategically realigned its control functions of risk, compliance, internal audit and cybersecurity to work under the supervision of the Board Sub-Committee and domain experts at IHC Centre of Excellence.
Subsequent to the quarter end, Avenir converted the first tranche of warrants into 8.69 crore equity shares at ₹139 per share, resulting in an infusion of ₹906 crore. Following this conversion, the promoter shareholding increased from 28.34% to 33.32%. The remaining 21.98 crore warrants are proposed to be converted by September 2027, subject to applicable terms and conditions, for an additional investment of ₹2,291 crore. Upon full conversion, the promoter shareholding is expected to increase to 43.28%.
Expanding distribution and diversifying the product portfolio
Sammaan Capital continued to expand its distribution footprint, increasing its branch network from 217 to 245 branches across 20 states. The Company is deepening its presence in Tier 2 and Tier 3 markets, with a focus on reaching underserved customer segments and expanding its MSME franchise.
In personal loans, the Company is progressing from portfolio purchases towards building its own origination capabilities through its existing branch network. Its Business Instalment Loan offering is being prepared for launch. In gold loans, product policies have been approved, with a soft launch planned for Q3FY27 and a commercial launch planned for Q4FY27, subject to market conditions.
Sammaan Capital also continues to leverage its established mortgage franchise through an originate-and-assign model. The Company has cumulatively sold down mortgage pools aggregating more than ₹1 lakh crore across 24 bank and financial institution partners, with less than 0.50% 90-plus days-past-due on sold-down pools.
Investing in people, technology and governance
The Company continued to build organisational capacity to support its next phase of growth. It onboarded 1,123 employees during H1FY27, with 95% of hires entering retail functions and 87% deployed at branches. The Company also strengthened its senior leadership bench with 20 senior hires during the half year.
Technology investments remain a key enabler of the Company’s operating transformation. Salesforce has been rolled out to pilot branches, with a wider rollout targeted during Q3FY27. The Company has also implemented five IT projects during Q2FY27, including an API gateway and multi-factor authentication on its core system. It is progressing with its broader technology roadmap, including upgrades to its loan management systems and customer facing digital platforms.
Sammaan Capital remains focused on executing its FY27 growth roadmap, with full-year targets that include AUM of ₹70,700 crore, a loan book of ₹53,000 crore, disbursements of ₹30,100 crore and PAT of ₹1,400 crore. The Company is also targeting an expansion of its branch network to 270 branches by the end of FY27.
The Company’s longer-term ambition is to progress from its current AA+ credit rating towards an AAA rating, supported by strong capitalisation, sustained asset quality, strategic support, funding and liquidity, and enhanced management and governance standards. Its roadmap also includes achieving a sustainable Return on Managed Assets of above 2%.
Commenting on the performance, Gagan Banga, Managing Director & CEO, Sammaan Capital Limited, said:
“Q2FY27 represents continued progress in the execution of Sammaan Capital’s transformation and growth strategy. We have delivered strong sequential momentum in disbursements and profitability while further improving our asset quality. Our focus remains on building a diversified and resilient lending franchise, supported by disciplined underwriting, strong collections and a robust capital position.
“We are investing in our people, distribution network, technology and governance capabilities to support the next phase of growth. The strategic partnership with IHC further strengthens our capital position and provides an important foundation for our long-term ambitions. As we scale, we remain committed to balancing growth with risk discipline and building a sustainable, institutionally strong financial services business.”