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Aptus Value Housing Finance saw continued growth in FY24 with a 22% rise in PAT to INR 612 crore. Total disbursements for the housing financier jumped 31% to INR 3,127 crore for the full year, reflecting robust demand for housing loans. In Q4FY24 alone, disbursements grew 45% to INR 968 crore. Aptus expanded its reach through the addition of 31 new branches, taking its total network to 262 branches across seven states. Commenting on the results, MD P Balaji expressed satisfaction with the company's performance and stated that significant accomplishments were made during the fiscal.
Aptus Value Housing Finance, a city-based housing finance firm, reported a 21% rise in profit after tax (PAT) for the quarter ending March 31, 2024 to INR 164 crore, compared to INR 135 crore in the same quarter last year. Advertisement
For the full financial year ending March 31, 2024, PAT increased 22% to INR 612 crore from INR 503 crore in the previous year.
Commenting on the results, Managing Director P Balaji said that FY24 has proven to be a good year for Aptus, marked by significant growth and accomplishments. Aptus also expanded its branch network to 262 by opening 31 new branches during the year.
Total disbursements in the reported quarter jumped 45% to INR 968 crore from INR 668 crore in the corresponding quarter last year. For FY24, disbursements grew 31% to INR 3,127 crore from INR 2,395 crore in the previous year.
Balaji further stated that the company maintained sufficient liquidity of INR 1,022 crore as of March 31, 2024, including undrawn sanctions of INR 620 crore from banks. The net worth was over INR 3,700 crore and the company remains well capitalized.
Looking ahead, Balaji said Aptus will continue prioritizing responsible lending, risk management, sustainable growth and asset quality while focusing on expanding and retaining its customer base in existing and new geographies.
Aptus Value Housing Finance India Ltd currently has a network of 262 branches with over 1.33 lakh active accounts in Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Karnataka, Odisha and Maharashtra.
Going forward, Aptus is well positioned to capture further opportunities in the affordable housing segment. With a strong capital position and liquidity of over INR 1,622 crore, the company is well equipped to continue supporting growth in lending while maintaining asset quality.
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