Aadhar Housing Finance, which recently went public, announced a remarkable 43% increase in net profit for the March quarter, reaching Rs 202 crore compared to Rs 141 crore in the previous year.
Key Points:
- Financial Performance: The company’s total income for the quarter reached Rs 673 crore, marking a 25% rise from the same period last year.
- Asset Growth: Aadhar witnessed a substantial 23% year-on-year growth in assets under management, totaling Rs 21,121 crore by the end of March.
- Lending Focus: As a significant lender to the economically weaker section, Aadhar maintains an average loan size of Rs 10 lakh.
- Business Strategy: Managing Director Rishi Anand attributed the growth to a 20% increase in disbursements, coupled with a focus on long-term borrowings to maintain a robust liability profile and control borrowing costs.
- Public Offering: Established in 2010, Aadhar completed its initial public offering of Rs 3,000 crore on May 10, with shares listing on the bourses on May 15. The IPO comprised a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale by promoter Blackstone group affiliate BCP Topco VII Pte for Rs 2,000 crore.
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