Sammaan Capital targets 30 gold-loan branches in Q4FY27

Sammaan Capital plans to soft-launch gold loans at about 16 branches in Q3FY27 and roll out to 30 branches in Q4FY27, subject to market conditions, after user-acceptance testing of its Jayam platform and digitisation of branch-vault controls. The secured product has approved policies and a ticket size of about Rs 2 lakh.

When will Sammaan Capital launch gold loans?

Sammaan Capital plans a gold-loan soft launch in Q3FY27 at about 16 branches, followed by a 30-branch rollout in Q4FY27 and wider expansion in FY28. Its stated launch playbook moves from approved policies to platform user-acceptance testing, then the branch soft launch, the Q4FY27 expansion and subsequent wider rollout.

The branch-readiness section gives the Q3FY27 soft-launch footprint as about 16 branches, while the separate launch-lifecycle table lists 15 branches for the same Q3FY27 step. The presentation does not reconcile that one-branch difference. Both disclosures point to a limited initial launch before the 30-branch Q4FY27 phase, rather than a network-wide launch.

The timetable is expressly tentative and subject to market conditions at the relevant time. Sammaan Capital has linked front-end recruitment to the gold-loan branch go-lives: bulk hiring begins with the approximately 16-branch Q3FY27 soft launch and front-end teams are scaled up alongside the 30-branch Q4FY27 rollout.

What are Sammaan Capital's gold loan terms?

Sammaan Capital's proposed gold loan is secured by gold jewellery, carries a stated ticket size of about Rs 2 lakh and can run for up to three years. The company lists repayment as equated monthly instalments, or EMIs, or a bullet repayment, depending on the scheme, and says product policies have been approved.

The product has a loan-to-value, or LTV, limit of up to 85% for loans below Rs 2.5 lakh. LTV is the proportion of collateral value that can be lent. The presentation does not state an LTV limit for loans of Rs 2.5 lakh or more, nor does it provide a detailed customer eligibility profile beyond the gold-jewellery security.

Sammaan Capital lists yield bands of 11% to 13% and above 13% for gold loans under its portfolio strategic mix. The source does not assign a particular yield band to a specific ticket size, repayment structure or customer segment. This differs from the existing unsecured other-loans portfolio, which had an average Q2FY27 ticket size of Rs 1.4 lakh and a stated yield range of 10% to 17%.

Which systems and controls must Sammaan Capital complete?

Sammaan Capital plans to conduct user-acceptance testing, or UAT, of the Jayam loan origination system and loan management system in Q3FY27. Jayam is intended to cover origination, gold valuation, collateral management, disbursal, repayment and closure, making it the operating platform named for the product's full loan cycle.

At the time of the presentation, requirements were complete, while development and system integration testing, or SIT, were in progress. The launch lifecycle describes SIT as the current stage, followed by the Q3FY27 soft launch. This places testing between policy approval and the proposed branch rollout, rather than treating approved product policies as the final launch condition.

Sammaan Capital is also integrating Razorpay for payments and Signzy for digital Know Your Customer, or KYC, verification. Separately, it says key and cash-vault registers at branches will be digitised by Q3FY27, with a real-time audit trail. Those vault controls are specifically relevant because physical gold jewellery is the stated collateral for the new lending product.

The gold-loan technology work sits within a broader platform programme that reported 12 information-technology projects implemented from June to September 2026 and 30 more under way. The presentation nevertheless identifies Jayam, the payments and KYC integrations, and digitised vault registers as the product-specific mechanisms relevant to the Q3FY27 readiness target.

How will Sammaan Capital build its gold loan book?

Sammaan Capital plans to seed the gold-loan book through pool purchases or co-lending, then originate and hold loans through its own branches from the soft launch. Pool purchases would provide the initial book, while branch-led origination is intended to expand as the footprint moves from about 16 branches in Q3FY27 to 30 in Q4FY27.

This originate-and-hold approach is distinct from Sammaan Capital's prime and MSME mortgage strategy, where the company describes an originate-and-assign model that sells loans to banks through direct assignment. For affordable mortgages, it instead describes originate-and-hold lending to build net interest income. The gold-loan presentation places the product in the latter retention-oriented mode after the initial seeding phase.

The planned gold-loan rollout would use a small portion of the wider distribution network. Sammaan Capital reported 245 branches in Q2FY27 and targeted about 300 branches by FY27, with 91% of that FY27 network already in place. The proposed 30 gold-loan branches in Q4FY27 therefore represent a product-specific rollout within an existing and expanding branch base, not all branches offering gold loans.

Management has assigned Manish Kumar as Product Head, Gold Loan. The presentation describes him as an IIM Ahmedabad alumnus and a retail lending and gold-loan specialist with experience across the product lifecycle, portfolio growth and profit-and-loss management. It provides no gold-loan disbursal, assets-under-management or profitability target for Q3FY27, Q4FY27 or FY28.

Conclusion

Sammaan Capital's disclosed gold-loan plan is a controlled branch launch rather than an immediate broad rollout: approved policies, an approximately Rs 2 lakh ticket size, LTV of up to 85% below Rs 2.5 lakh, and systems for valuation, collateral and vault records are intended to support the Q3FY27 soft launch. The planned move to 30 branches in Q4FY27 marks the next operating milestone.

The principal items to watch are completion of Jayam UAT, the status of payments and KYC integrations, and digitisation of branch key and cash-vault registers by Q3FY27. Investors can also monitor whether the disclosed soft-launch footprint is 15 or about 16 branches, how hiring tracks branch go-lives, and whether market conditions alter the tentative Q3FY27 and Q4FY27 timetable.