- As
per ICRA’s estimates, the overall securitisation
volumes grew by approximately 2% YoY, reaching Rs. 1.87 lakh crore in 9M
FY2026. Volumes in 9M FY2026 can be attributed to a few large corporate
transactions.
- PTCs comprised nearly 63% of the
total securitisation volume in 9M FY2026, continuing a
trend that has persisted since FY2024.
- In contrast to the previous fiscal,
non-banking entities showed greater participation in 9M FY2026, forming ~11% in
the share of originators. NBFCs (excluding MFIs and HFCs) accounted for around
65% of total volumes in 9M FY2026.
- Vehicle financing has continued to
lead securitisation volumes since FY2024, followed by
HL/LAP as the asset classes with the highest shares. MF ranks third, although
it remains most vulnerable due to borrower risk profiles.
Exhibit:
Securitisation market volume (PTC & DA)
Source: ICRA Research
