Reliance Home Finance Q3 net more than doubles to Rs 46 crore
ET Bureau|
Feb 07, 2018, 05.47 PM IST
MUMBAI: Reliance Home Finance, a subsidiary of Reliance Capital on Wednesday, reported 102 per cent jump in its net profit at Rs 46 crore for the quarter ended December 31, 2017.
Disbursements rose 35 per cent to Rs 1,628 crore mainly due to growth in affordable housing, home loans, construction finance. The company saw highest growth in affordable housing, which they are looking to grow.
Its assets under management stood at Rs 14,862 crore. Gross NPA ratio improved from 1.1 per cent to 0.8 per cent, with the focus on collection efficiency.
"We focused on affordable home loan disbursements and are adding close to 1400 loans in affordable housing on a month on month," said Ravindra Sudhalkar, ED and CEO, Reliance Home Finance. "The growth in affordable housing was more than 50per cent, individual loans- 50per cent Construction funding-40per cent LAP- 40per cent."
Shares of the company rose 1.32 per cent from previous close to Rs 68.85 on the Bombay Stock Exchange.
Disbursements rose 35 per cent to Rs 1,628 crore mainly due to growth in affordable housing, home loans, construction finance. The company saw highest growth in affordable housing, which they are looking to grow.
Its assets under management stood at Rs 14,862 crore. Gross NPA ratio improved from 1.1 per cent to 0.8 per cent, with the focus on collection efficiency.
"We focused on affordable home loan disbursements and are adding close to 1400 loans in affordable housing on a month on month," said Ravindra Sudhalkar, ED and CEO, Reliance Home Finance. "The growth in affordable housing was more than 50per cent, individual loans- 50per cent Construction funding-40per cent LAP- 40per cent."
Shares of the company rose 1.32 per cent from previous close to Rs 68.85 on the Bombay Stock Exchange.
