India’s overall securitisation market hit a record ₹1.47 lakh crore in the first half of FY27, according to ICRA’s latest release. That figure eclipses the ₹1.06 lakh crore logged in 2025‑26, marking a 42% year‑on‑year surge and underscoring a sharp uptick across asset classes.
Gold loan volumes were the single biggest driver, leaping 1.5× from ₹60,000 crore in the same period last year to ₹86,000 crore in Q2. The jump was backed by a partial re‑entry of lenders and a higher sell‑down pace, said ICRA Vice President Sachin Joglekar.
Vehicle loans now account for roughly one‑third of total securitisation volumes in H1, up from 25% in Q1. MSME, business and mortgage loan pools also grew, each contributing between 12% and 15% of the market, pushing the sector’s diversification curve.
ICRA projects FY27 securitisation volumes to reach ₹2.6‑2.7 lakh crore, a new all‑time high. The forecast hinges on continued NBFC reliance on securitisation to meet funding needs and a sustained appetite from institutional investors.
For market watchers, the data signals an expanding funding channel for NBFCs and a potential lift in the valuation of securitisation‑heavy entities. Investors should watch for the next quarter’s results and any policy shifts that could influence securitisation appetite.