India Shelter Finance Corporation Limited AUM Crosses Rs. 6,084 Crores in FY24, Registers YoY Growth of 40%
4 min readAUM as of FY24 at Rs. 6,084 Crs, development of 40% YoY
PAT at Rs. 248 Crs for FY24, development of 59% YoY
GNPA improved by 16 bps to 1.0%
RoA & RoE at 4.9% and 14.0% for FY24
Investor Release
The Board of Directors of India Shelter Finance Corporation at its assembly held as we speak, authorised the audited monetary outcomes for quarter and full 12 months ended March 31, 2024.
Key Performance Metrics
Particulars (Rs. Crs) | Q4FY24 | Q4FY23 | YoY | Q3FY24 | QoQ | FY24 | FY23 | YoY |
AUM | 6,084 | 4,359 | 40% | 5,609 | 8% | 6,084 | 4,359 | 40% |
Disbursements | 747 | 603 | 24% | 679 | 10% | 2,646 | 1,964 | 35% |
Spread (%) | 6.1% | 6.0% | 6.0% | 6.1% | 6.0% | |||
Opex/AUM | 4.4% | 4.7% | 4.4% | 4.5% | 4.9% | |||
PAT | 78 | 53 | 47% | 62 | 25% | 248 | 155 | 59% |
RoA (%) | 5.4% | 5.1% | 4.7% | 4.9% | 4.1% | |||
Gross Stage 3 (%) | 1.0% | 1.1% | 1.2% | 1.0% | 1.1% |
Commenting on the efficiency, Mr. Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation stated, “It has been a great 12 months for India Shelter, marked by sturdy monetary efficiency and speedy footprint enlargement for sustaining excessive development. This 12 months additionally marked a big milestone for us with the completion of our Initial Public Offering and subsequent itemizing on the NSE & BSE on 20th December 2023. This momentous event was the fruits of years of dedication and perseverance. It was a surreal and humbling expertise as we rang the ceremonial bell, ushering in a brand new period of development and alternative for India Shelter.
India Shelter now operates out of 223 branches in 15 states. We added 40 new branches in FY24. During the 12 months, we witnessed sturdy AUM development of 40% YoY, led by a 35% YoY improve in disbursements. Our margins remained in line with our steering for the medium time period at 6%. In phrases of asset high quality, our stage 3 improved by 16bps YoY to 1.0%.
I’m delighted to tell you all that in the present tight liquidity state of affairs, India Ratings and Research has assigned AA- (Stable) as our long-term score.
As we glance forward, we stay decided to pursue offering reasonably priced housing options and empowering the underserved segments of our society. With our sturdy basis, progressive spirit, and dedication to excellence, we’re assured in our skill to create long-term worth for all our stakeholders whereas positively impacting the lives of numerous people and communities.”
Distribution:
The firm continues to deepen its presence by including 8 new branches through the quarter. The firm has 223 branches in 15 states as of thirty first March’24.
Asset Quality & Provisions:
Gross Stage 3 and Net Stage 3 improved to 1.0% and 0.7% as of thirty first March 2024 as in opposition to 1.1% and 0.8% as of thirty first March 2023
30+ DPD steady at 2.4% as of thirty first March 2024
Credit Cost for the quarter steady at 0.4%
Borrowings & Liquidity:
Networth at Rs. 2,299 Crs as of March’24. The firm continues to hold a liquidity of Rs. 1,210 Crs as of March’24.
In Q4FY24, price of funds was maintained at 8.8%.
Profitability:
Profit after tax grew 59% YoY to Rs. 248 Crs in FY24 as in opposition to Rs. 155 Crs in FY23
Profit after tax grew by 47% YoY to Rs. 78 Crs in Q4FY24 as in opposition to Rs. 53 Crs in Q4FY23
RoA improved to 4.9% in FY24 from 4.1% in FY23
In This autumn, the corporate delivered RoA of 5.4% as in opposition to 5.1% in Q4FY23
RoE stood at 14% for FY24
About India Shelter Finance Corporation
India Shelter offers reasonably priced dwelling loans and mortgage in opposition to property in Tier 2 and three geographies in India. India Shelter offers dwelling loans to prospects from low-and middle-income segments who’re constructing or shopping for their first houses. The firm has a powerful distribution moat with its Pan-India community in 15 states by way of 215 branches and maintains a granular portfolio. The firm is being run by an skilled skilled administration workforce backed by marquee buyers.
Disclaimer
Forward-looking statements regarding the Companys future enterprise prospects and enterprise profitability are topic to a quantity of dangers and uncertainties and the precise outcomes may materially differ from these in such forward-looking statements. The dangers and uncertainties relating to those statements embody, however are usually not restricted to, dangers and uncertainties concerning fluctuations in earnings, our skill to handle development, competitors (each home and worldwide), financial development in India and overseas, skill to draw and retain extremely expert professionals, time and price over runs on contracts, authorities insurance policies and actions rules, curiosity and different fiscal prices usually prevailing in the economic system. The Company doesn’t undertake to make any announcement in case any of the forward-looking statements change into materially incorrect in the longer term or replace any forward-looking statements made once in a while by or on behalf of the Company.
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