India Shelter Finance Corporation Limited Reports 37% YoY Growth in AUM and 77% YoY Rise in PAT for Q1FY25
AUM as of Q1FY25 at Rs. 6,509 Crs, growth of 37% YoY
Disbursements at Rs. 715 Crs, growth of 23% YoY
PAT of Rs. 84 Crs for Q1FY25, growth of 77% YoY
RoA at 5.6% for Q1FY25
India Shelter Finance Corporation Limited announced the unaudited financial results for quarter ended on June 30, 2024.
Key Performance Metrics:
Particulars (Rs. Crs) | Q1FY25 | Q1FY24 | YoY | Q4FY24 | QoQ |
AUM | 6,509 | 4,759 | 37% | 6,084 | 7% |
Disbursements | 715 | 582 | 23% | 747 | -4% |
Spread (%) | 6.1% | 6.0% | 6.1% | ||
Opex/AUM | 4.4% | 4.8% | 4.4% | ||
PAT | 84 | 47 | 77% | 78 | 7% |
RoA (%) | 5.6% | 4.2% | 5.4% | ||
Gross Stage 3 (%) | 1.1% | 1.0% | 1.0% |
Commenting on the performance, Mr. Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation said, “India Shelter delivered another quarter of consistent performance across parameters with sustainable growth in our AUM. India Shelter now operates out of 236 branches in 15 states. We added 13 new branches during the quarter. Going forward, we will continue to focus on sustainable growth by penetrating deeper into our existing geographies, where a significant unserved and underserved population resides. During the quarter, we witnessed strong AUM growth of 37% YoY, led by a 23% YoY increase in disbursements. Our margins remained in line with our guidance for the medium term at 6.1%. Our return ratios continue to remain healthy at 5.6% RoA and 14.3% RoE.”
He further added, “The government continued its march towards fiscal consolidation in Union Budget 2025, comforted by a broad-based recovery in the Indian economy. The increase in the target by 3 crore houses (rural as well as urban) goes well for those who wish to avail the benefits of the scheme. It will also facilitate accommodation of growing number of families, particularly in rural area. The re-introduction of Credit Linked Subsidy Scheme is expected to support housing loan growth as well.”
Profitability:
Profit after tax grew 77% YoY to Rs. 84 Crs in Q1FY25 as against Rs. 47 Crs in Q1FY24
RoA improved to 5.6% in Q1FY25 from 4.2% in Q1FY24
RoE stood at 14.3% for Q1FY25
Borrowings & Liquidity:
Networth at Rs. 2,387 Crs as of June’24. The company continues to carry a liquidity of Rs. 1,193 Crs as of June’24
In Q1FY25, cost of funds was maintained at 8.8%.
Asset Quality & Provisions:
Gross Stage 3 and Net Stage 3 stood at 1.1% and 0.9% as of 30th June 2024 as against 1.0% and 0.8% as of 30th June 2023
Credit Cost for the quarter stable at 0.4%
About India Shelter Finance Corporation
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 moat with its Pan-India network in 15 states via 236 branches and maintains a granular portfolio. The company is being run by an experienced professional management team backed by marquee investors.
Disclaimer:
Forward-looking statements concerning the Companys future business prospects and business profitability are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of the forward-looking statements become materially incorrect in future or update any forward-looking statements made from time to time by or on behalf of the Company.
