Bajaj Housing Finance's net profit up 20.95% in Q2 FY25
ECONOMY & POLICY

Bajaj Housing Finance's net profit up 20.95% in Q2 FY25

Bajaj Housing Finance (BHFL) has reported a growth of 20.95 %in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 5.45 billion as against Rs 4.51 billion it recorded 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 24.10 billion in Q2 FY25, a growth of 26.09% from Rs 19.11 billion it recorded in the similar quarter last year. The company has made an initial public offer (IPO), during the period ended September 30, 2024 for 93,71,42,856 equity shares of Rs 10 each, comprising a fresh issue of 50,85,71,428 equity shares of the company and 42,85,71,428 equity shares offered for sale by selling shareholders. As on September 30, 2024, its net worth stood at Rs 187.71 billion, debt-equity ratio was 3.97, total debts to total assets was 0.79, gross non-performing assets were 0.29% and net NPA was 0.12%. Provisioning coverage ratio on stage 3 assets at 58%.

Assets under management grew by 26% to about 1025.69 billion as of September 30, 2024 from Rs 81,215 crore as of September 30, 2023. Net interest income, for Q2 FY25 increased by 13% to Rs 7.13 billion from Rs 6.32 billion in Q2 FY24. Loan losses and provisions for Q2 FY25 was Rs 5 crore as against Rs 180 million in Q2 FY24. BHFL holds a management and macro economic overlay of Rs 440 million as of September 30, 2024.

Bajaj Housing Finance (BHFL) has reported a growth of 20.95 %in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 5.45 billion as against Rs 4.51 billion it recorded 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 24.10 billion in Q2 FY25, a growth of 26.09% from Rs 19.11 billion it recorded in the similar quarter last year. The company has made an initial public offer (IPO), during the period ended September 30, 2024 for 93,71,42,856 equity shares of Rs 10 each, comprising a fresh issue of 50,85,71,428 equity shares of the company and 42,85,71,428 equity shares offered for sale by selling shareholders. As on September 30, 2024, its net worth stood at Rs 187.71 billion, debt-equity ratio was 3.97, total debts to total assets was 0.79, gross non-performing assets were 0.29% and net NPA was 0.12%. Provisioning coverage ratio on stage 3 assets at 58%. Assets under management grew by 26% to about 1025.69 billion as of September 30, 2024 from Rs 81,215 crore as of September 30, 2023. Net interest income, for Q2 FY25 increased by 13% to Rs 7.13 billion from Rs 6.32 billion in Q2 FY24. Loan losses and provisions for Q2 FY25 was Rs 5 crore as against Rs 180 million in Q2 FY24. BHFL holds a management and macro economic overlay of Rs 440 million as of September 30, 2024.

Next Story
Infrastructure Urban

Consistent reforms will foster growth and reduce investor risk

Incorporated in 1986 as a wholly owned subsidiary of State Bank of India, SBI Capital Markets Ltd (SBICAPS) is a SEBI-registered Category I merchant banker and research analyst. It offers the entire bouquet of investment banking and corporate advisory services under one umbrella, covering project advisory and structured financing, capital markets, mergers and acquisitions, private equity, ESG advisory, startup advisory and stressed assets resolution. Headquartered in Mumbai, SBICAPS has seven regional offices of which six are in India (Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata and New ..

Next Story
Infrastructure Urban

Adani Group Invests $240M in Global Skills Academy

The Adani Group has announced a partnership with ITE Education Services (ITEES) of Singapore to establish a world-class talent pipeline for industries such as Green Energy, Manufacturing, Hi-tech, Project Excellence, and Industrial Design. The initiative will see an investment of over $240 million by the Adani family to set up internationally benchmarked schools of excellence, named Adani Global Skills Academy. These finishing schools will train students from technical and vocational backgrounds, equipping them with industry-relevant certifications. Graduates will have employment opportunities..

Next Story
Infrastructure Urban

Swiggy to Invest $120M in Scootsy for Expansion

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches. Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers. "We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?