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NewsVoir
Gurugram (Haryana) [India], October 25: India Shelter Finance Corporation Limited announced its financial results for the 2nd Quarter of Fiscal year 2025. The Board of Directors of India Shelter Finance Corporation at its meeting held today, approved the unaudited financial results for quarter and half-year ended September 30, 2024. Commenting on the performance, Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation said, "We delivered another quarter of consistent performance with sustainable growth in our AUM. We are pleased to report an AUM growth of 36% YoY to Rs. 7,039 Crs supported by disbursement growth of 30% YoY to Rs. 828 Crs. Growth in disbursement is driven by the expansion of branches, improvement in productivity and vintage of our branches. During the quarter we opened 24 branches across the nation as part of our stated branch expansion strategy, with this we have a presence of 260 branches across 15 states. During the quarter, ICRA Rating has upgraded our credit rating from A+ to AA - Stable, this will help us further optimize our cost of funds over the medium term." Profitability: - Profit after tax grew 50% YoY to Rs. 90 Crs in Q2FY25 as against Rs. 60 Crs in Q2FY24 - RoA improved to 5.6% in Q2FY25 from 5.1% in Q2FY24 - RoE stood at 14.8% for Q2FY25 Borrowings & Liquidity: - Networth is at Rs. 2,489 Crs as of September'24. The company continues to carry a liquidity of Rs. 1,192 Crs as of September'24 - In Q2FY25, the cost of funds was maintained at 8.8% Asset Quality & Provisions: - Gross Stage 3 and Net Stage 3 at 1.2% and 0.9% as of 30th September'24 - 30+ DPD at 3.6% as of 30th September'24 - Credit Cost for the quarter at 0.5% India Shelter provides affordable home loans and loan against property in Tier 2 and 3 geographies in India. India Shelter provides home loans to customers from low-and middle-income segments who are building or buying their first homes. The company has strong distribution model with its Pan-India network in 15 states via 260 branches and maintains a granular portfolio. The company is being run by an experienced professional management team backed by marquee investors. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)
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