Indiabulls Housing Finance’s profit fell 8% to Rs 303 cr in Q3 FY22
Real Estate

Indiabulls Housing Finance’s profit fell 8% to Rs 303 cr in Q3 FY22

The Indiabulls Housing Finance's profit after tax (PAT) fell by 8% to Rs 303 crore due to slower loan growth in the quarter ended in December. In the previous year, it had a PAT of Rs 329 crore.

However, the lender is doing more co-lending disbursements, which is supporting its profitability, Hooda said.

The company disbursed around Rs 2,800 crore in retail loans in Q3 FY22. Through co-lending arrangements with seven institutions, it disbursed Rs 1,573 crore. It plans to co-lend Rs 18,000 crore in FY23 and Rs 24,000 crore in FY24.

Gross Non performing assets (NPAs) were 3.18% in Q3FY22, up from 2.44% the previous quarter. Net NPAs were 1.80%, up from 1.46%, the previous quarter.

The loan book's provisions were 4.5% of the total. The provision coverage ratio for stage 3 was 43% of gross NPAs.

Tier 1 capital adequacy was at 31.2%, and capital adequacy was at 25.7%.

On the BSE, its shares closed at Rs 206.70 per share, up 4.68%.

The Reserve Bank of India (RBI) regulates Indiabulls Housing Finance Ltd (IBHFL), the country's third-largest housing finance company. Leading rating agencies such as Credit Rating Information Services of India Limited (CRISIL), Investment Information and Credit Rating Agency of India (ICRA), and Credit Analysis & Research Ltd (CARE) Ratings have given IBHFL a AA rating, while Brickwork Ratings has given it a AA+ rating.

As of June 30, 2021, the company's balance sheet was 0.87 trillion dollars. More than 1 million satisfied customers have been served, and over 2.86 trillion in loans have been disbursed. It has a strong national presence and is expanding its reach with e-Home Loans, India's first fully online home loan fulfilment platform.

Image Source

Also read: Indiabulls Housing Finance plans to raise 1,000 cr via public bonds

The Indiabulls Housing Finance's profit after tax (PAT) fell by 8% to Rs 303 crore due to slower loan growth in the quarter ended in December. In the previous year, it had a PAT of Rs 329 crore. However, the lender is doing more co-lending disbursements, which is supporting its profitability, Hooda said. The company disbursed around Rs 2,800 crore in retail loans in Q3 FY22. Through co-lending arrangements with seven institutions, it disbursed Rs 1,573 crore. It plans to co-lend Rs 18,000 crore in FY23 and Rs 24,000 crore in FY24. Gross Non performing assets (NPAs) were 3.18% in Q3FY22, up from 2.44% the previous quarter. Net NPAs were 1.80%, up from 1.46%, the previous quarter. The loan book's provisions were 4.5% of the total. The provision coverage ratio for stage 3 was 43% of gross NPAs. Tier 1 capital adequacy was at 31.2%, and capital adequacy was at 25.7%. On the BSE, its shares closed at Rs 206.70 per share, up 4.68%. The Reserve Bank of India (RBI) regulates Indiabulls Housing Finance Ltd (IBHFL), the country's third-largest housing finance company. Leading rating agencies such as Credit Rating Information Services of India Limited (CRISIL), Investment Information and Credit Rating Agency of India (ICRA), and Credit Analysis & Research Ltd (CARE) Ratings have given IBHFL a AA rating, while Brickwork Ratings has given it a AA+ rating. As of June 30, 2021, the company's balance sheet was 0.87 trillion dollars. More than 1 million satisfied customers have been served, and over 2.86 trillion in loans have been disbursed. It has a strong national presence and is expanding its reach with e-Home Loans, India's first fully online home loan fulfilment platform. Image Source Also read: Indiabulls Housing Finance plans to raise 1,000 cr via public bonds

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code