new delhi jun 10 tata motors is open to divesting stake in its financing arm tata motors finance which is expected to have rs 50000 crore of assets under management by 2020 according to company officials the auto major however intends to keep control in tata motors finance ltd tmfl an entity which it expects to play a key role in its future growth even as it sells a stake in other businesses or winds up some operations abroad as part of a restructuring exercise of course we are very clear that we will now continue to invest as far as tata motors finance is concerned we will maintain control as far as tata motors finance is concerned but clearly there is no intention to say that it should always hold at 100 per cent that is also clear tata motors group cfo pb balaji told analysts he said the company expects a very strong broadbased rebound in tmfl which saw 24 per cent increase in assets under management aum in 201718 at rs 27932 crore as against rs 22517 crore in 201617 probably the most heartening to see is gross npa has gone from 18 per cent last year fy17 down to 4 per cent in fy18 and the business actually generates an roe return on equity of 17 per cent balaji added elaborating on strategic goals tata motors finance ltdtmfl ceo samrat gupta said in an investor presentation that the company is aiming to be a rs 50000 crore asset under management group by 2020 as part of the plan tmfl also plans to expand its reach by increasing total branches across india to 500 by 2020 from 270 at present he added moreover gupta said tmfl is also targeting to attain 20 per cent sustainable roe by 2020 apart from driving up financing of its new vehicles by tmfl tata motors also looking at the financing arm to help its partner suppliers with poor financial health conducting the financial risk assessment of stressed vendors providing assistance in correcting capital structure and financial working capital requirements are some of the areas that tata motors is looking to leverage on tmfl the significance of tmfl to tata motors is in contrast to other businesses such as defence the sale of which is in progress balaji said tata motors is now holding for sale of a stake in tata technologies as well as tata hitachi and some small shareholding in other companies like tata steel we are winding up our spain business tata hispano which is already in final stages as well as tata precision in singapore has been wound up he added rkl mr mr