Indiabulls Housing Finance notes 11% drop in net profit at Rs 286 cr

12 Nov 2021 CW Team

Indiabulls Housing Finance (IBH) has registered an 11% decline in its net profit in the quarter ended September 2021.

The firm's profit after tax (PAT) reached Rs 286.34 crore in Q2 FY22 compared to Rs 323.30 crore in the similar quarter of the preceding fiscal, the firm said in a BSE filing.

The firm's net consolidated overall income reached Rs 2,233.08 crore in Q2 FY22, a drop of 17% from Rs 2,681 crore it recorded in the corresponding quarter last year.

The board of directors nodded issuance of unsecured and/or secured, listed and/or unregistered, redeemable non-convertible debentures in one or more tranches for a total amount up to Rs 5,000 crore, the firm said in the regulatory filing.

It raised Rs 792 crore via public issue of NCDs in September 2021. Indiabulls Housing raised $165 million via the issuance of a Foreign Currency Convertible Bond (FCCB).

Over the last year, the firm has raised $716 million of equity/quasi-equity capital through QIP, FCCB issuances and stake sale in Oak North Bank. It has raised Rs 12,186 crore across instruments and tenors in H1FY22.

Total loans disbursed as of September 30, 2021, under the Emergency Credit Line Guarantee Scheme (ECLGS) reached Rs 176 crore, amounting to 0.27% of the loan book.

Gross NPAs have reached 2.69% in the second quarter of the financial year 2021-22 from 2.21% in the last quarter of the year-ago period. The net NPA was down to Rs 1,179 crore in the present quarter from Rs 1,487 crore in Q2 FY21.

The firm restructured loans of Rs 96.7 core, similar to 0.15% of its loan book, under the Reserve Bank of India's Restructuring Frameworks 1.0 and 2.0 combined.

Indiabulls Housing disbursed retail loans of Rs 325 crore in September 2021 via its co-lending tie-ups. It will increase to Rs 500 crore of monthly disbursals by Dec-21 and Rs 800 crore of monthly disbursals by March 2022, as per the firm. It entered into co-lending deals with Canara Bank, Punjab & Sind Bank and Indian Bank.

IBH has presently signed up with a total of seven co-lending partners. It states it is on track to pay Rs 1,000 crore of retail loans via co-lending in Q3 FY22.

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Also read: Indiabulls Housing Finance raises $165 mn by selling convertible bonds

Indiabulls Housing Finance (IBH) has registered an 11% decline in its net profit in the quarter ended September 2021. The firm's profit after tax (PAT) reached Rs 286.34 crore in Q2 FY22 compared to Rs 323.30 crore in the similar quarter of the preceding fiscal, the firm said in a BSE filing. The firm's net consolidated overall income reached Rs 2,233.08 crore in Q2 FY22, a drop of 17% from Rs 2,681 crore it recorded in the corresponding quarter last year. The board of directors nodded issuance of unsecured and/or secured, listed and/or unregistered, redeemable non-convertible debentures in one or more tranches for a total amount up to Rs 5,000 crore, the firm said in the regulatory filing. It raised Rs 792 crore via public issue of NCDs in September 2021. Indiabulls Housing raised $165 million via the issuance of a Foreign Currency Convertible Bond (FCCB). Over the last year, the firm has raised $716 million of equity/quasi-equity capital through QIP, FCCB issuances and stake sale in Oak North Bank. It has raised Rs 12,186 crore across instruments and tenors in H1FY22. Total loans disbursed as of September 30, 2021, under the Emergency Credit Line Guarantee Scheme (ECLGS) reached Rs 176 crore, amounting to 0.27% of the loan book. Gross NPAs have reached 2.69% in the second quarter of the financial year 2021-22 from 2.21% in the last quarter of the year-ago period. The net NPA was down to Rs 1,179 crore in the present quarter from Rs 1,487 crore in Q2 FY21. The firm restructured loans of Rs 96.7 core, similar to 0.15% of its loan book, under the Reserve Bank of India's Restructuring Frameworks 1.0 and 2.0 combined. Indiabulls Housing disbursed retail loans of Rs 325 crore in September 2021 via its co-lending tie-ups. It will increase to Rs 500 crore of monthly disbursals by Dec-21 and Rs 800 crore of monthly disbursals by March 2022, as per the firm. It entered into co-lending deals with Canara Bank, Punjab & Sind Bank and Indian Bank. IBH has presently signed up with a total of seven co-lending partners. It states it is on track to pay Rs 1,000 crore of retail loans via co-lending in Q3 FY22. Image Source Also read: Indiabulls Housing Finance raises $165 mn by selling convertible bonds

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