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Indiabulls Housing Finance Limited [IBHFL] Q3 FY15 Net Profit up by 21% to Rs. 478.1 crore

–          IBHFL 9 month FY15 Net Profit up by 20.9% to Rs. 1,350.2 crore

–          IBHFL has crossed an important milestone of Rs. I lakh crore of disbursals since commencement of operations

–          Our total provision cover is 147% of Gross NPA and is 1.6 times the regulatory requirement.

Highlights Q3 FY 2015                                   

  • PAT up 21% at Rs. 478.1 crore
  • NII up 25.6% at Rs. 828 crore
  • Balance Sheet size up 22% at Rs. 53,402 crore
  • Gross NPA at 0.86% of total advances  & Net NPA at 0.34 %
  • Provision cover of 147%.
  • Spreads were stable at 340 bps on book basis and 310 bps on incremental basis.

Highlights 9 Months FY 2015

  • PAT up 20.9%  at Rs. 1,350.2 crore
  • NII up 19.1% at Rs. 2,266.6 crore

Mumbai, January 19th 2015, The Board of Directors of Indiabulls Housing Finance Ltd (IBHFL), India’s second largest private housing finance company, announced its unaudited results for the third quarter ended December 31, 2014.

For Q3 FY15, dividend of Rs. 9/- per share of face value Rs. 2/- has been declared. With this, total dividend for 9MFY15 would be Rs. 26/- per share of face value of Rs. 2/- .

Key Financials:

Particulars

(In Rs. Cr.)

  Q3 FY15    Q3 FY14  YOY Growth (%)   9M FY15    9M FY14  YOY Growth (%)
Total Revenues 1,871.2 1,574.6 18.8% 5,179.8 4,392.7 17.9%
NII 828.0 659.0 25.6% 2,266.6 1,902.6 19.1%
PBT 622.2 536.2 16% 1723.2 1,512.6 13.9%
PAT 478.1 395.1 21% 1,350.2 1,117.0 20.9%
EPS 13.5 11.9 39.4 34.4

 Key Ratios:

Particulars (in %)   9M FY 15    9M FY 14 
Gross NPA .86  .88
Net NPA .34  .48

 Performance Highlights for the Quarter ended December 31, 2014 are:

  • Spreads for the Quarter were stable at 340 bps on book basis and 310 bps on incremental basis.

 

  • Net Profit for the quarter was Rs. 478.1 crore as against Rs. 395.1 crore in the corresponding quarter of the previous year, showing a growth of 21%
  • Net Interest Income (NII) was Rs. 828 crore  as against Rs. 659 crore in the corresponding quarter of the previous year, showing a growth of 25.6%
  • Balance Sheet size is at Rs. 53,402 crore as against Rs. 43,819 crore in the corresponding quarter of the previous year, showing a growth of 22%
  • Gross Non-Performing Asset is at 0.86 % of total advances & Net NPA is at 0.34 %. NPA’s continue to remain within the target range despite a prolonged depressed economic environment and a resultant phase of weakened credit cycle
  • Total provision pool is Rs. 604.7 crore against gross NPAs of Rs. 411.8 crore, which is a provision cover of 147%.

Performance Highlights for the 9-month period ended December 31, 2014 are:

  • Net Profit for the 9-month period was Rs. 1350.3 crore as against Rs. 1,117 crore in the corresponding quarter of the previous year, showing a growth of  21.9%
  • Net Interest Income (NII) was Rs. 2,266.6 crore as against Rs. 1902.6 crore in the corresponding period of the previous year, showing a growth of 19.1%

IBHFL continues to focus on home loans of less than Rs.50 lakhs, which is the largest business segment for the company.

Gagan Banga, Vice Chairman & MD, IBHFL commented “This calendar year we would complete 15 years of operations. Another important milestone that indicates the distance we have come is our crossing Rs. 1 lakh crore of disbursals since the commencement of operations. Our focus on affordable housing has indeed paid off and has enabled us to consistently deliver on all key parameters for the past 5 years. We are now headed in a big and busy fourth quarter and remain optimistic in being able to meet our guidance in line with the first nine months of the financial year.”

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