Shriram Housing Finance’s AUM cross Rs 13,700 cr in Q4
Shriram Housing Finance Limited, a leading affordable housing finance company, announced its results for the fourth quarter of the last fiscal year (Q4FY24), registering a 67% growth in its profit after tax (PAT) to Rs 62.1 crore. The company’s Assets under Management (AUM) also grew to Rs 13,762 crore in the same quarter
image for illustrative purpose
Mumbai, May 01: Shriram Housing Finance Limited, a leading affordable housing finance company, announced its results for the fourth quarter of the last fiscal year (Q4FY24), registering a 67% growth in its profit after tax (PAT) to Rs 62.1 crore. The company’s Assets under Management (AUM) also grew to Rs 13,762 crore in the same quarter.
The disbursals for the quarter jumped 77% year-on-year to Rs 2,302 crore and the overall disbursal reached Rs 7,591 crore in the past fiscal year. Asset quality also improved with Gross Stage-3 assets at 1.03%, a 2 bps increase quarter-on-quarter, and 10 bps increase year-on-year.
Net Interest Margin (NIM) in the same quarter improved by 108 bps y-o-y to 7.6%. For the full financial year, the PAT stood at Rs 217.4 crore, registering a y-o-y growth of 58%. Total AUM has grown 3.5 times over the past three years with a compound annual growth rate (CAGR) of 56% in the past four years. The company also raised Rs 400-crore capital during the last quarter.
Expanding Distribution Network: The company continues to invest in its distribution network expansion across the key states. The total branch network grew to 155 as of March 2024. The company continues to be a dominant player in the Tamil Nadu, Gujarat, Karnataka, Maharashtra & Delhi markets and it aims to achieve a leadership position in a few other territories.
Commenting on the results, Ravi Subramanian, MD & CEO, Shriram Housing Finance, said, “Despite having seen a high-interest rate scenario, we are delighted to announce a remarkable PAT growth of 58% y-o-y in the past fiscal year. Total AUM has grown 4x over the past three years, with a CAGR of 56%. We are consistently expanding in newer territories and have the adequate capital buffer to drive business growth. We are very optimistic about the growth prospects as the demand for affordable housing will come from the rural and semi-urban markets. The home loan growth momentum is expected to remain strong in the medium-term as well.”
