A housing finance company reported a consolidated profit after tax of ?171.74 crore for the April-June 2024 quarter, driven by business growth, stable asset quality, and higher productivity. The company’s PAT was ?142.25 crore in the corresponding quarter last year. For the year ending March 31, 2024, consolidated profits were ?61,189.56 crore.

The consolidated total income during the quarter rose to ?404.62 crore, compared with ?315.37 crore in the same period last year. For the year ending March 31, 2024, consolidated total income stood at ?1,416.84 crore.

Commenting on the performance, the company’s management highlighted a 21% year-on-year increase in net profit, supported by business growth, stable asset quality, and higher productivity.

The company achieved 27% year-on-year growth in Assets Under Management (AUM), supported by the addition of 36 branches over the previous year, both in existing and new states. Management aims to pursue an AUM growth of around 30% in the coming quarters and years.

As of June 30, 2024, the company maintained liquidity of ?907 crore, including undrawn sanctions of ?520 crore from various banks. The company is well-capitalized, with a net worth of over ?3,818 crore.

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