Page 2 - Housing Finance

Too many unsold homes? China considering govt purchases to ease glut

Local state-owned enterprises would be asked to help purchase unsold homes from distressed developers at steep discounts using loans provided by state banks, according to two of the people

Shriram Finance's HFC sale capital accretive, says S&P Global Ratings

Help to maintain 20 per cent year-on-year credit growth

Board of Aptus Value Housing gives nod to issue NCDs up to Rs 2,250 cr

The Board of housing finance company Aptus Value has approved the issuance of Non-Convertible Debentures up to Rs 2,250 crore, the Chennai-based company said on Saturday. Aptus Value Housing Finance India Ltd recorded a 22 per cent hike in its profit after tax for the year ending March 31, 2024, at Rs 612 crore as compared to Rs 503 crore registered in the same period of last year. Disbursements made during the financial year ending March 31, 2024, grew by 31 percent to Rs 3,127 crore as compared to Rs 2,395 crore, made during the same period of last year. In a BSE filing on Saturday, the company said, "The Board has considered and approved the issuance of Non-Convertible Debentures (NCDs) aggregating up to Rs 2,250 crore through private placements, in one or more tranches or series (subject to the approval of shareholders) from time to time". Aptus Value Housing Finance India Ltd currently has a network of 262 branches with over 1.33 lakh active accounts in Tamil Nadu, Puducherry,

Aptus Housing Finance Q4 results: Net profit increases 21% to 164 cr

Housing finance company Aptus Value has recorded a 21 percent hike in its profit after tax for the quarter ending March 31, 2024 at Rs 164 crore. The city-based firm had registered a PAT of Rs 135 crore during the same period last year. For the year ending March 31, 2024, the profit after tax went up by 22 per cent to Rs 612 crore, from Rs 503 crore registered during the same period of last year. Commenting on the financial performance, Aptus Value Housing Finance India Ltd., Managing Director P Balaji said, "I am delighted to announce that FY24 has proven to be a good year for Aptus, marked by significant accomplishments and strong growth. During FY24, we expanded our presence by opening 31 branches, thereby strengthening our network to 262 branches." Total disbursements made during the quarter under review went up by 45 per cent to Rs 968 crore, from Rs 668 crore registered during the corresponding quarter of last year. For the financial year ending March 31, 2024, the disburseme

Aadhar Housing Finance sets IPO price band at Rs 300-315 per share

The initial share sale will be open for public subscription during May 8-10 and the bidding for anchor investors will open for a day on May 7, the company said in a statement

Aadhar Housing Finance sets IPO price band of Rs 300 to Rs 315 per share

Aadhar HFC provides a variety of mortgage loan products for residential and commercial property purchase and construction, home improvement and extension

Mubadala, Warburg in talks with Shriram Finance to buy stake in SHFL

Shriram Finance on Tuesday confirmed that it is looking to unlock value in the housing finance arm (SHFL) to secure growth capital.

Blackstone-backed Aadhar Housing Finance's Rs 3,000 cr IPO to open on May 8

The initial share-sale will conclude on May 10 and the bidding for anchor investors will open for a day on May 7, according to the Red Herring Prospectus (RHP)

Godrej Properties buys 3 acres in Hyderabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd on Thursday said it has bought around 3-acre land in Hyderabad to develop a housing project with an estimated revenue potential of Rs 1,300 crore. Last month, Godrej Properties forayed into the Hyderabad property market by purchasing 12.5-acre land for Rs 350 crore to develop a housing project having Rs 3,500 crore revenue potential. In a regulatory filing, the company said this is the second land acquisition in Hyderabad. The total development potential on this land is around 1.2 million (12 lakh) square feet of saleable area comprising primarily premium residential apartments. The company expects to generate revenue worth Rs 1,300 crore from this upcoming new project. Godrej Properties did not name the seller and also the deal value of this new land acquisition. Godrej Properties said that this strategic acquisition is in line with its strategy of developing high-quality residential projects across India's leading real estate markets. The land

LIC Housing Finance hopes to earn Rs 5,000 cr profit in FY24: CEO

LIC Housing Finance, the mortgage arm of insurance behemoth LIC, is expecting a net profit of Rs 5,000 crore in the current financial year on the back of robust loan demand and expansion in non-core business. The non-core business includes Loan Against Property (LAP) and affordable housing finance, LIC Housing Finance managing director and CEO Tribhuwan Adhikari told PTI in an interaction. During 2022-23, the biggest housing finance company earned a net profit of Rs 2,891 crore. "Affordable housing segment remained strong in tier-2 and tier-3 markets. We remained focused on this segment, as it gives an opportunity to millions of aspiring Indians to own their home with a moderate budget," he said. In addition to business growth, he said, "our endeavour has been to improve service standards through ongoing digital transformation of our processes." Fourth quarter is usually the most important business period for the company and going by the current trends, he said, "we expect to clo

BS-IMGC India conclave: Redefining role of financiers in housing ecosystem

To ensure housing for all, the chiefs of housing financiers pinned their hopes on the reintroduction of a scheme similar to the credit-linked subsidy scheme (CLSS), which ended in December 2023

PNB Housing Finance offer limited period fixed deposit rates for 23 months

These interest rates are applicable on all new and renewed fixed deposits booked until March 31, 2024, with a minimum deposit amount of Rs 10,000

Aim to double AUM to Rs 20,000 crore by FY27, says HomeFirst MD & CEO

Viswanathan discusses the demand in the housing segment and expansion plans

Blackstone's Aadhar Housing Finance targets $600 million India IPO: Report

Aadhar plans to file its IPO papers with India's market regulator within the next two weeks, both sources said

Under-construction or ready-to-move-in house: How to make a choice

Regard the lower price of an under-construction property as compensation for betting on a riskier asset

RBI proposes tighter norms for deposit-taking housing finance companies

Deposit-taking HFCs told to maintain 15% liquid assets

RBI proposes tighter norms for deposit-taking housing finance firms

The central bank has also proposed the ceiling on public deposits held by HFCs be reduced to 1.5 times of net-owned funds from 3 times

Higher demand could offset competitive pressures for housing finance cos

Can Fin Homes would see credit costs normalize after it took a provision of Rs 40 crore for fraud in Q2FY24 but net profit may fall by 5.0 per cent QoQ to Rs 1,390 crore

Mortgage firm SRG Housing Finance aims to hit Rs 750 cr AUM next fiscal

Mortgage firm SRG Housing Finance plans to achieve Rs 750 crore asset under management (AUM) during the next financial year, a top company official has said. "We have achieved AUM of Rs 500 crore in the last quarter. We hope to achieve the next milestone of Rs 750 crore in 2024-25," SRG Housing Finance Managing Director Vinod Kumar Jain told PTI. The company got listed on bourses in August this year. Currently, Rajasthan and Gujarat contribute about 60 per cent of its business. The mortgage firm plans to expand its footprint in southern states. The company will also open its branches in Andhra Pradesh, Telangana and Karnataka in the next few months, Jain said. Also, from April next year, the treasury and pan India business team will work from Mumbai, he added. During the second quarter of the current financial year, the mortgage firm recorded 20 per cent growth to Rs 5.26 crore compared to Rs 4.39 crore a year ago. Its total income stood at Rs 31.20 crore, with a growth of 37.9

Hudco's Rs 1,100 cr offer of share sale 95% covered, stock closed at Rs 80

The share sale received bids for about 133.6 million shares from institutional investors against a total of 140 million on offer