Shriram Housing Finance Q4 Results: Net profit surges 67% YoY to Rs 62 crore

Shriram Housing Finance, a leading affordable housing finance company, has

registered a 67% year-on-year rise in its March quarter net profit after tax to Rs 62 crore.

Its net interest margin in the same quarter improved by 108 basis points year-on-year to 7.6%.

The lender’s assets under management grew 71% year-on-year to Rs 13,762 crore at the end of March while asset quality deteriorated marginally with gross non-performing assets ratio rising 10 basis points to 1.03%.

Loan disbursals for the quarter jumped 77% year-on-year to Rs 2,302 crore and the overall disbursal reached Rs 7,591 crore in the past fiscal year.

The company raised Rs 400-crore during the last quarter.

"We are very optimistic about the growth prospects as the demand for affordable housing will come from the rural and semi-urban markets. The home loan growth momentum is expected to remain strong in the medium-term as well,” said managing director Ravi Subramanian.

For the full financial year, net profit stood at Rs 217.4 crore, registering a 58% rise.

Total AUM has grown 3.5 times over the past three years.