FY19 Q2 Earnings " Indiabulls Housing Finance"
Indiabulls Housing Finance Q2 net up by 21%.
Profit rise to Rs 1044 in this quarter, company had posted a net profit of Rs 861 cr in the corresponding quarter last year. Loan assets grew 28.9% to Rs 1.28 lakh crore.
Home loans expanded the fastest at 35% while corporate loan grew at 18% and loan against property rose by 15%. Asset quality remain stable with gross NPA 0.77% and net NPA at 0.58%
The cost of fund has gone up by 20 basis points.
" Home loan transactions in the country have been picking up. The profit was suppressed due to Interest rate volatility." said Ashwini Hooda, deputy managing director at Indiabulls Housing Finance.
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