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Shriram Housing Finance has demonstrated remarkable financial performance in Q4 FY24, with a 67% increase in profit after tax (PAT), reaching INR 62.1 crore. Their total AUM surged to INR 13,762 crore, reflecting a growing demand for affordable housing finance. With a 3.5 times growth in AUM over three years and a substantial CAGR of 56%, the company raised an additional INR 400 crore, enhancing its loan disbursal capacity. Disbursements soared by 77% in Q4 FY24, totaling INR 7,591 crore for FY24. Despite robust growth, GNPA remained low at 1.03%, ensuring a healthy portfolio. Shriram Housing Finance's strong performance aligns with the soaring demand for affordable housing in India, positioning them as a key player in fulfilling homeownership aspirations.
Shriram Housing Finance has reported impressive financial results for the quarter ending March 31, 2024 (Q4 FY24), signifying a strong market with significant growth potential. Advertisement
Shriram Housing Finance registered a 67% jump in its profit after tax (PAT) for Q4 FY24, reaching INR 62.1 crore. This builds on a successful year, with their overall PAT for the entire fiscal year 2023-24 (FY24) reaching INR 217.4 crore, reflecting a year-on-year growth of 58%. Further strengthening this positive trend is the company's growing Assets Under Management (AUM), which stands for the total value of loans managed by them. In Q4 FY24, AUM climbed to a significant INR 13,762 crore. This impressive figure highlights the increasing demand for affordable housing finance and Shriram Housing Finance's ability to meet that demand.
Looking at the bigger picture, the company's total AUM has grown 3.5 times over the past three years, with a remarkable compound annual growth rate (CAGR) of 56%. This growth also attracted fresh capital, with the company raising an additional INR 400 crore during the last quarter. This capital injection will further fuel their ability to disburse loans and contribute to the affordable housing sector.
Shriram Housing Finance also reported a significant increase in loan disbursements during Q4 FY24. Disbursements represent the amount of money loaned out to borrowers. Compared to the same quarter last year, disbursements jumped by 77%, reaching INR 2,302 crore. This growth translates to a total disbursement of INR 7,591 crore for the entire FY24, reflecting the company's active role in facilitating affordable housing purchases. Furthermore, Shriram Housing Finance demonstrated a continued focus on maintaining a healthy portfolio. Gross Non-Performing Assets (GNPAs), a measure of loans overdue by more than 90 days, remained low at 1.03% in Q4 FY24. This indicates a robust portfolio with a low risk of defaults.
According to a report by the Confederation of Real Estate Developers' Associations of India (CREDAI), the demand for affordable housing in India is expected to reach a staggering 4.4 crore units by 2030. Shriram Housing Finance's strong financial performance positions them as a key player in meeting this growing demand. Their commitment to providing accessible financing solutions, particularly with the recent capital injection, is crucial for enabling homeownership dreams for many.
The company's growth reflects a vibrant market with significant potential. We will continue to monitor their progress and keep you updated on future developments, including how they contribute to bridging the gap in affordable housing availability across the country.
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