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.

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.

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