Aptus Value Housing Finance’s net profit up 23.15% in Q4 FY23, ET RealEstate

June 24, 2023

NEW DELHI: Aptus Value Housing Finance India has reported a growth of 23.15 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 135.29 crore in Q4 FY23 as against Rs 109.86 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 308.37 crore in Q4 FY23, a growth of 31.59 per cent from Rs 234.34 crore it recorded in the similar quarter last year.

The board of directors have granted approval to offer, issue and allot in one or more tranches, non-convertible debentures (NCDs) for an amount not exceeding Rs 1,000 crore through private placement subject to the approval of the shareholders.

The board also declared second interim dividend of Rs 2 per equity share (100%) of face value of Rs 2 each for the financial year ended March 31, 2023.

During the financial year 2022-23, its asset under management (AUM) increased 30 per cent year-on-year and stood at Rs 6,738 crore, disbursements were up 46 per cent year-on-year and stood at Rs 2,395 crore while the spread was at 14.31 per cent, it said in a media release.

The board has approved appointment of M. Anandan as the executive chairman of the company with effect from May 4, 2023 subject to the approval of the shareholders of the company. Anandan was earlier appointed as the chairman and managing director (Term of office: Five years commencing from December 24, 2019).

It has also approved the appointment of P. Balaji as the managing director (additional director) of the company for a period of five years with effect from May 4, 2023 subject to the approval of the shareholders of the company.

M Anandan, executive chairman of the company said, During FY23, we disbursed Rs 2,395 crore registering a growth of 46% year on year. As on March 31, 2023, we have maintained sufficient on balance sheet liquidity of over Rs 511 crore without including undrawn sanctions of Rs 625 crore from National Housing Bank/Banks. With strong capital base and prudent borrowing practices, we have positive ALM across tenors.”

The board has accepted the resignation John Vijayan Rayappa as the chief risk officer and appointed him as the chief financial officer of the company with effect from May 4, 2023. It accepted the resignation of Suman Bollina as the non-executive non-independent director of the company with effect from May 4, 2023.

“The business in this 12 months geared up for strong growth in disbursements and collection efficiencies have come back to pre covid levels with considerable improvement in soft buckets . 30 + DPD which was at 9.91% as on 31 March 2022 has come down to 5.90%. GNPAs were at 1.15% (Net NPA 0.86%) as of Mar 2023,” said Anandan.

As on March 31, 2023, the company’s net worth stood at Rs Rs 3,110.63 crore, debt-equity ratio was 1.12, total debts to total assets was 0.53, net profit margin was 44.25%, gross non-performing assets (NPAs) was 1.08% and net NPAs were 0.79%, it said in the regulatory filing.

  • Published On May 4, 2023 at 07:21 PM IST

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