Aditya Birla Group forecasts 19-21% growth in financial businesses over next 3-5 years

Aditya Birla's financial forecast: Aditya Birla Group has unveiled growth projections for its key financial sectors. Chairperson Kumar Mangalam Birla revealed that the group anticipates a compounded annual growth rate (CAGR) ranging from 19 per cent to 21 per cent in its credit, investment, and insurance businesses over the next three to five years.

Speaking at an event in Mumbai, Birla stressed the importance of these sectors within the group's financial services model. He highlighted the potential for substantial expansion and affirmed the group's focus on capitalising on emerging opportunities in the financial sphere.

The announcement coincided with the launch of a digital application named ABCD by Aditya Birla Capital ADTB.NS. This platform aims to streamline financial services delivery. Moreover, it aligns with the group's objective of acquiring 30 million customers within the next three years.

(With Reuters Inputs)