Indiabulls Housing Finance Ltd’s (IHFL) consolidated net profit fell by 7.9 per cent year on year (YoY) to Rs 303 crore in third quarter ended December 2021 (Q3FY22) from Rs 329 crore a year ago (Q3FY21).
Sequentially, however, consolidated net profit rose by 5.94 per cent from Rs 286 crore in the second quarter ended September 2021 (Q2FY22).
Its capital adequacy ratio (CAR) stood at 31.2 per cent with tier I of 25.7 per cent at the end of December 2021. Its stock closed 4.7 per cent higher at Rs 206.7 per share on BSE.
IHFL in a statement said the consolidation of assets under management (AUM) was approaching an end. The base is formed for 15 per cent plus annualised growth from FY23 onwards. The strong capital adequacy, low gearing, high liquidity, and robust provisioning would provide a basis for growth from FY23.
Total retail disbursals stood at Rs 2,800 crore in Q3FY22. The disbursements through co-lending partnerships were Rs1,573 crore in the reporting quarter. Its has seven fully operational and maturing co-lending tie-ups.
Mortgage financing company said it was on track to disburse Rs 18,000 crore in FY23 and Rs 24,000 crore in FY24. Only ~15 percent of disbursal will be on IBH’s balance sheet.
Referring to the wholesale financing platform, it said it will file papers with Securities and Exchange Board of India (SEBI) for the wholesale AIF platform in partnership with global funds. Its launch in the first quarter of next financial year (Q1FY23) is subject to regulatory approval.
The platform is looking to disburse Rs 15,000 crore in FY23. This would be scaled up to Rs 20,000 crore in FY24. IBH would contribute only 10 per cent of the capital and will earn processing fees and annual management fees on the whole AUM.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU