Driven by its remarkable domestic performance, Andromeda Sales & Distribution, India’s leading loan distribution network, has announced its strategic entry into the Middle East.
In the fiscal year 2023–2024, the company’s loan disbursals increased by more than 23% to $9,048 million. The home loan segment, which grew by more than 22% to roughly $4,070 million in FY24 from $3,336 million in FY23, was the main driver of this noteworthy growth.
Significant growth was also seen in the Loan Against Property (LAP) segment, with disbursements reaching $2,973 million, up 10.33% from $2,695 million the year before. These numbers demonstrate Andromeda’s strong performance and confirm its standing as the biggest loan distribution network in India.
Since its founding in 1991, Andromeda has developed into a diverse provider of financial services from its position as a Citibank Direct Sales Associate. The company’s portfolio includes home loans, loans secured by property, personal loans, business loans, and other financial products.
Sandeep Lalwani, Director of Andromeda, stated, “Our exceptional domestic performance has laid the foundation for exploring new opportunities. With its large NRI community, the Middle East presents a promising market for our home loan services. In association with Wealth Link Solutions, we are excited to extend our expertise in home loan distribution to NRIs in the UAE, Saudi Arabia, Kuwait.
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