Aadhar Housing Finance posts 43% rise in net profit in Q4 FY24, ET RealEstate
KOLKATA: Aadhar Housing Finance, which got listed a fortnight back, on Wednesday reported a 43% year-on-year jump in net profit for the March quarter to Rs 202 crore against Rs 141 crore in the year-ago period.
Its total income for the quarter stood at Rs 673 crore, 25% higher than what it was for the same period last year.
Aadhar, a leading lender to the economically weaker section, saw its assets under management grow 23% year-on-year to Rs 21121 crore at the end of March. Its average loan size is Rs 10 lakh.
“This (growth) was led by a 20% growth in disbursements. We have successfully maintained a robust liability profile and effectively controlled borrowing costs. The company’s focus has always been on long tenor borrowings,” said managing director Rishi Anand.
Aadhar, which was established in 2010, completed its initial public offer of Rs 3000 crore on May 10. Its shares listed on the bourses on May 15. The IPO comprised a fresh issue of shares for Rs 1000 crore and an offer-for-sale by promoter Blackstone group affiliate BCP Topco VII Pte for Rs 2,000 crore.
