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Informist, Wednesday, Apr. 23, 2025

 

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--Bajaj Housing Fin Jan-Mar PAT INR 5.87 bln vs INR 3.81 bln year ago 
--Bajaj Housing Fin Jan-Mar revenue INR 25.08 bln vs INR 19.96 bln year ago 
--Bajaj Housing Fin FY25 PAT INR 21.63 bln vs INR 17.31 bln year ago 
--Bajaj Housing Fin FY25 revenue INR 95.76 bln vs INR 76.17 bln year ago 
--Bajaj Housing Fin Jan-Mar net interest income INR 8.23 bln, up 31% on yr 
--Bajaj Housing gross NPA ratio 0.29% as on Mar 31 vs 0.27% year ago 
--Bajaj Housing net NPA ratio 0.11% as on Mar 31 vs 0.10% year ago 
--Bajaj Housing: Provision coverage ratio 60.25% as on Mar 31 
--Bajaj Housing: AUM INR 1.15 tln as on Mar 31, up 26% on year 
--Bajaj Housing Jan-Mar net interest margin at 4.0%, unch on qtr 
 

 

By Kabir Sharma

 

MUMBAI – A sharp rise in net interest income and assets under management helped Bajaj Housing Finance Ltd. report a 54% jump in its net profit for the March quarter to INR 5.87 billion. Net interest income of the lender rose 31% on year to INR 8.23 billion.

 

Total revenue from operations of the lender rose 25.6% on year to INR 25.08 billion in Jan-Mar. This is the second quarter of earnings for the company since it was listed on the bourses in September. On Wednesday, shares of Bajaj Housing closed at INR 131.88 on the National Stock Exchange, up 0.6% from the previous close.

 

The net interest margin of the company remained firm at 4% for the reporting quarter, mainly due to the surge in net interest income. The asset quality of the housing financier remained robust with the gross non-performing asset ratio at 0.29% and the net non-performing asset ratio at 0.11%. Credit cost of the company was at 0.12%. The medium-term guidance for gross non-performing loans is at 40-60 basis points and for credit cost at 20-25 basis points, the company said.

 

The assets under management of the company rose to INR 1.15 trillion as on Mar. 31 from INR 913.70 billion a year ago. The home loan AUM of the company was INR 644.74 billion as on Mar. 31 and the AUM for loans against property was at INR 122.62 billion. The lender aims to grow its assets at the rate of 24-26% per year, it said in its investor presentation. "Portfolio composition remained well diversified with (the) home loan share at 56.2%," the company said. Bajaj Housing's disbursals grew 25% on quarter in the Jan-Mar period to INR 142.54 billon.

 

Provision coverage ratio of the lender was 60.25% as on Mar. 31. The financier has guided medium-term provision coverage ratio at 40-50%. The liquidity buffer stood at INR 23.94 billion as of Mar. 31 and liquidity coverage ratio for the quarter stood at 191% as against the regulatory requirement of 100%.

 

Cost of funds for the lender was 7.9% in the March quarter, unchanged from the previous quarter. "COF (cost of funds) was in line with Oct-Dec quarter and is expected to come down from current levels," the company said.

 

For 2024-25 (Apr-Mar), the net profit of the company rose to INR 21.63 billion from INR 17.31 billion a year ago. Revenue rose to INR 95.76 billion from INR 76.17 billion a year ago. Capital adequacy ratio stood at 28.24% as of Mar. 31, against the regulatory requirement of 15%.  End

 

Edited by Nishant Maher

 

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