In the fourth quarter, the share of Indiabulls Housing Finance Company has raised 11 per cent to Rs 307 crore. Mainly, the growth was led by lower credit costs and higher profit from its co-lending business.
The same was Rs 276 crore in the year-ago quarter.

“The profit grew on the back of lower credit cost and higher profit from co-lending business and securitization,” its deputy managing director Ashwini Kumar Hooda said.

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The home loan financier said it disbursed Rs 2,962 crore in H2 FY22 through co-lending. It has also committed co-lending demand for Rs 15,000 crore in FY23 from seven existing partnerships. The company is on track to disburse Rs 15,000 crore in FY23 and Rs 20,000 crore in FY24, according to a release said.

Its loan book declined by 10 per cent to Rs 59,333 crore in the fourth quarter of FY22 from Rs 66,047 crore in the year-ago period.

The company’s gross non-performing assets (GNPAs) stood at 3.21 per cent in Q4 FY22 against 2.86 per cent a year ago. Net NPA was at 1.89 per cent compared to 1.55 per cent. It has voluntarily created a reserve fund for repayment of $350 million of its dollar bonds, due on May 28, 2022.

As against the initial plan to transfer Rs 2,048 crores, about 75 per cent of the total maturity proceeds of these bonds, to a debt repayment trust, the company has fully pre-funded its dollar bond obligations into the trust. It has instructed the repayment trustee and banks to utilize the proceeds of the pre-funded fixed deposits towards fully meeting the repayment obligations, the media reported.