Digital India's fastest growing & sustainable home finance company, IIFL Home Finance Ltd. disbursed loans of almost Rs 3000 cr, in H1 of 2021-2022 FY
- IBEF
- December 7, 2021
Mr. Nick O'Donohoe, Global Chief Executive, CDC Group said that the British government development institute CDC is planning to invest up to US$ 3 billion in India over the next five years. He said that a large part of this investment in equity and debt would flow into projects that help tackle the climate issue.
IIFL Home Finance Limited has already made its mark in the BFSI and housing finance sectors, winning awards and accolades such as Sustainability Initiative of the Year (Business Intelligence Group), Green Brand of the Year (International Advertising Association), and The Economic Times Best BFSI Brand 2021.
IIFL Home Finance Ltd., a 100% subsidiary of IIFL Finance Ltd., stated a 12% year on year growth in its AUM figures (Assets Under Management) the company distributed loans worth Rs 3,000 crores (US$ 397 million) in the first half-year ending on September 30th on the financial year of 2021-22. The total Asset under management (AUM) is Rs. 21,474 crores (US$ 2.87 billion) on the same date.
The company stated 19% growth year on year in its loan book, leading to Rs. 15,320.99 crores (US$2 billion) as on half-year ending on September 30th, 2021) earlier the loan book was at Rs. 12,892.74 crores (US$1.7 billion) as of September 30th, 2020. The company had a profit after tax (PAT) of Rs. 284.02 crores (US$37 million), as of the half-year ending on 30th September 2021, a 70% increase year on year. The total Nonperforming assets (NPA) for the same period was 1.40%.
Despite the macro-economic setbacks the company continues to grow.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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