Indiabulls Housing Finance on Friday reported a fall of 65.96 per cent in consolidated net profit at Rs 272.84 crore in Q1FY21 as against Rs 801.53 crore in the corresponding period of last year. Revenue from operations was down 33.7 per cent at Rs 2,574.6 crore as opposed to Rs 3,885 crore in the given period, Indiabulls Housing Finance said in an exchange filing.

"The phase of reduction in loan book and assets under management (AUMs) is over," the company said. "The loan book will start growing from here on as per the company's business plan that blends co-origination with banks for retail loans and with funds for developer loans as two important pillars going forward," it added.

The company also said that it plans to grow assets under management (AUM) by 12 per cent and balance sheet by 7-8 per cent in FY21.

Of total loan assets of Rs 92,770 crore, the loan assets in loan stage one and two are Rs 90,728 crore, representing 97.8 per cent of total assets.

Indiabulls Housing Finance recently appointed former RBI deputy governor S S Mundra as its non-executive chairman with immediate effect. Mundra had joined the board of IBH in 2018 as an independent director. The company said its executive chairman Sameer Gehlaut has taken up the position of chief executive officer of another listed firm promoted by him -- Indiabulls Ventures.

Shares of Indiabulls Housing Finance today closed the intraday trade at Rs 203.10, down 0.90 points or 0.44 per cent as against the