Indiabulls Housing Finance profit jumps 9% in Q3 FY19
Mumbai [Maharashtra], Jan 31 (ANI): Indiabulls Housing Finance Ltd on Thursday announced its profit after tax jumped 8.9 per cent at Rs. 985.5 crore during October to December 2018 compared to Rs 905.3 crore in the corresponding period of previous year.
ANI
Jan 31, 2019 14:35 IST
Mumbai [Maharashtra], Jan 31 (ANI): Indiabulls Housing Finance Ltd on Thursday announced its profit after tax jumped 8.9 per cent at Rs. 985.5 crore during October to December 2018 compared to Rs 905.3 crore in the corresponding period of previous year.
At the same time, the country's second largest housing finance company said its total loan assets moved 16.2 per cent to Rs. 124,271 crore. They totalled Rs. 106,971 crore during Q3 2017-18.
Over the past three years, the company has demonstrated the depth of diversified liabilities franchise by moving nimbly across instruments such as securitisation, institutional bonds, retail bonds, external commercial borrowings, masala bonds and bank term loans based on macro conditions around liquidity and interest rates.
“We are on track to deliver 15 to 16 per cent PAT growth in the current financial year," said Gagan Banga, Vice Chairman and Managing Director. "For the next financial year 2019-20, PAT will grow at between 17 and 19 per cent."
The core strategy of company's business is to sell down pools of loans while retaining a spread door-to-door over the entire length of the loan. While total assets under management are expected to grow 20 to 25 per cent, balance sheet growth is expected to be around 10 per cent.
Indiabulls Housing Finance has a balance sheet size of Rs 128,750 crore and provides home loans in the affordable housing segment. (ANI)
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