Bajaj Housing Finance's net profit up 20.95% in Q2 FY25
ECONOMY & POLICY

Bajaj Housing Finance's net profit up 20.95% in Q2 FY25

Bajaj Housing Finance (BHFL) has reported a growth of 20.95 %in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 5.45 billion as against Rs 4.51 billion it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company's net consolidated total income stood at Rs 24.10 billion in Q2 FY25, a growth of 26.09% from Rs 19.11 billion it recorded in the similar quarter last year. The company has made an initial public offer (IPO), during the period ended September 30, 2024 for 93,71,42,856 equity shares of Rs 10 each, comprising a fresh issue of 50,85,71,428 equity shares of the company and 42,85,71,428 equity shares offered for sale by selling shareholders. As on September 30, 2024, its net worth stood at Rs 187.71 billion, debt-equity ratio was 3.97, total debts to total assets was 0.79, gross non-performing assets were 0.29% and net NPA was 0.12%. Provisioning coverage ratio on stage 3 assets at 58%.

Assets under management grew by 26% to about 1025.69 billion as of September 30, 2024 from Rs 81,215 crore as of September 30, 2023. Net interest income, for Q2 FY25 increased by 13% to Rs 7.13 billion from Rs 6.32 billion in Q2 FY24. Loan losses and provisions for Q2 FY25 was Rs 5 crore as against Rs 180 million in Q2 FY24. BHFL holds a management and macro economic overlay of Rs 440 million as of September 30, 2024.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Bajaj Housing Finance (BHFL) has reported a growth of 20.95 %in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 5.45 billion as against Rs 4.51 billion it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 24.10 billion in Q2 FY25, a growth of 26.09% from Rs 19.11 billion it recorded in the similar quarter last year. The company has made an initial public offer (IPO), during the period ended September 30, 2024 for 93,71,42,856 equity shares of Rs 10 each, comprising a fresh issue of 50,85,71,428 equity shares of the company and 42,85,71,428 equity shares offered for sale by selling shareholders. As on September 30, 2024, its net worth stood at Rs 187.71 billion, debt-equity ratio was 3.97, total debts to total assets was 0.79, gross non-performing assets were 0.29% and net NPA was 0.12%. Provisioning coverage ratio on stage 3 assets at 58%. Assets under management grew by 26% to about 1025.69 billion as of September 30, 2024 from Rs 81,215 crore as of September 30, 2023. Net interest income, for Q2 FY25 increased by 13% to Rs 7.13 billion from Rs 6.32 billion in Q2 FY24. Loan losses and provisions for Q2 FY25 was Rs 5 crore as against Rs 180 million in Q2 FY24. BHFL holds a management and macro economic overlay of Rs 440 million as of September 30, 2024.

Next Story
Infrastructure Transport

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

Next Story
Infrastructure Energy

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Next Story
Infrastructure Transport

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?