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SRG Housing Finance Ltd. (SRGHFL) reported strong growth for the quarter ending September 30, 2024, with net consolidated profit rising by 25.48% to INR 66 million, driven by increased loan disbursements and portfolio expansion. Consolidated income also increased by 18.11% year-over-year to INR 368.4 billion. Managing Director Vinod Jain highlighted a 41.26% quarterly rise in disbursements, aligning with SRGHFL's targets of INR 7.5 billion in assets under management (AUM) in the short term and INR 10 billion in the medium term. With a stable debt-to-equity ratio, robust capital adequacy, and low non-performing asset levels, SRGHFL is well-positioned for sustained growth.
SRG Housing Finance Ltd. (SRGHFL) reported a strong financial performance for the quarter ending September 30, 2024, driven by robust profit growth and increased disbursements. The company experienced a 25.48% rise in net consolidated profit, reaching INR 6.60 crore, compared to INR 52.6 million during the same quarter last year. Advertisement
This achievement underscores SRGHFL's commitment to expanding its portfolio while maintaining stability in a competitive market. Consolidated income for Q2 FY25 reached INR 36.84 billion, reflecting an 18.11% increase from INR 31.19 billion in the corresponding quarter last year, as reported in the company's filing with the Bombay Stock Exchange (BSE).
Vinod Jain, the Managing Director, attributed the company's success to its strategic focus on disbursements and asset growth, highlighting a 41.26% quarter-on-quarter increase in loan disbursements. He pointed out SRGHFL's steady progress toward achieving short-term AUM targets of INR 7.5 billion and medium-term goals of INR 10 billion. As of September 30, 2024, the company's book value was INR 141.58 per share, underpinned by a debt-to-equity ratio of 2.68. The loan portfolio expanded year-over-year by 26.23%, reaching INR 6.5 billion, demonstrating SRGHFL's effective market penetration and expanding customer base.
During the quarter, total loan disbursements amounted to INR 629.6 million, while AUM increased by 26.23% compared to the previous year. The loan-to-value (LTV) ratio of approximately 42% reflects SRGHFL's balanced approach to growth and asset quality. Additionally, the company's net worth increased to INR 202.12 billion from INR 143.37 billion year-over-year, with a return on average equity (ROAE) of 3.56%, highlighting SRGHFL's strong financial health and effective resource management.
In terms of operational efficiency, SRGHFL maintained a cost-to-income ratio of 64.80% in Q2 FY25, reflecting a disciplined approach to managing expenses. Gross NPAs stood at 1.96%, with net NPAs at 0.59%, indicating solid credit quality. Moreover, SRGHFL's capital adequacy ratio remained robust at 39.44%, with Tier I capital at 38.98% and Tier II at 0.46%, ensuring substantial regulatory compliance and a solid capital buffer.
Overall, SRGHFL's ongoing commitment to growth and prudent risk management enhances its standing in the financial market. With rising lending volumes and a strong balance sheet, the company is well-positioned to seize additional market opportunities and drive sustainable growth in the coming quarters.
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