Future Capital Holdings Limited’s standalone income has grown 775% to Rs 814 million for the year ended 31 March 2008 from Rs 93 million for the year ended 31 March 2007. The standalone net profit after tax grew to Rs 89 million for the year ended 31 March 2008 from Rs 1.6 million for the year ended 31 March 2007.

Sameer Sain, MD & CEO, FCH said, “Our investment advisory business has grown significantly and performed very well. We have also grown our retail financial services footprint across India and in a deteriorating credit market have insulated ourselves by maintaining a conservative credit profile. We continue to believe that India is an attractive long-term investment opportunity and that talent is the key differentiator in financial services. Our track record of attracting and retaining the best talent, both international and domestic, gives us confidence in our ability to execute successfully on our plans going forward.”

FCH’s investment advisory business performed strongly during the year with revenues growing over 70% from Rs 341 million to Rs 585 million for the year ended 31 March 2008. It is today one of the largest talent-led investing platforms in India with over 150 people and with around Rs 60 billion of assets under advisory across the private equity and real estate space. FCH differentiates it investment advisory business by combining sound investment principles with a hands-on approach to investing which involves actively working with investee companies to create value.

Future Money, FCH’s consumer credit and financial products distribution business was launched in June 2007 with the objective of becoming India’s first consumer-centric retailer of financial products and services. The year saw Future Money growing from zero to 145 stores across 30 cities in India, with more than 1,700 people and a loan book of over Rs 665 million. Revenues from the retail financial services business for the year ended 31 March 2008 were Rs 174 million with a segmental loss of Rs 391 million. FCH is investing in building out the national footprint of Future Money, which will leverage the captive customer base and more than 200 million annual customer footfalls of the Future Group’s retail business. Future Money currently provides consumer credit, offers Future Cards (a credit cum loyalty card of the Future Group), and distributes life and general insurance products. In March 2008, Future Capital also invested in Centrum Capital’s foreign exchange, retail broking and wealth management businesses in order to expand the Future Money product suite. This investment gave Future Money access to an additional 68 branches across India and over 500,000 customers.

In the last quarter of FY 07-08, FCH also forayed into the wholesale credit business encompassing mezzanine, promoter and project financing, distressed debt, acquisition funding and other special situations related financing. With its investing expertise and strong due diligence capabilities across asset classes, FCH is in a unique position to take advantage of this opportunity. This business is expected to grow by leveraging relationships with entrepreneurs and developers from within the FCH and Future Group eco-system of partners and suppliers.

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