9th Aug 2024 Gurugram, Haryana, India India Shelter Finance Corporation Limited announced the unaudited financial results for the 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%