Indiabulls Housing Says Affordable Housing Sector Sees Sale Of 8,000-10,000 Units Every Month
Gagan Banga, the Vice Chairman and MD of Indiabulls Housing Finance in an interview has mentioned that the company is seeing the sale of around 8,000 to 10,000 units per month in the affordable housing sector. He accounted the figure to the company’s average ticket size which is around Rs.25 lakh and added that the company’s business is growing at an annualised rate of 35-40 percent. Gagan on being asked about the company’s borrowings, he stated that 80 percent of their borrowings came from bonds and other instruments. He was hopeful that interest rates would start moving up which will also result in home loan rates increasing in the near future.
9 April 2018
Deputy Managing Director Of Indiabulls Housing Finance Sees Premium Housing Blooming Late
Ashwini Kumar Hooda, the Deputy Managing Director of Indiabulls Housing Finance in a interview stated that he expected premium housing in the country to bloom later even though affordable housing is growing well in recent times. Hooda, who in the interview was asked a series of questions on varied topics shed light into the company’s business in the past and provided a roadmap of the future. On being asked about the company’s Q3 AUM growth, he said that that the company was able to grow faster than 30 percent in the past couple of years and in FY17 affordable housing constituted 33 percent of it. He added that in the current financial year the company expected it to be close to 35 percent. The Deputy Managing Director added that currently the company is getting higher ratings from international rating agencies as the company is now constituted of 60 percent home loan, 20 percent LAP and 20 percent construction finance unlike two years back. He was hopeful that the company would be able to achieve optimum mix by FY20. With regard to banks hiking MCLR, he added that for them it is not a concern as they primarily borrow from the bond which is cheaper than bank market. Hooda on being asked about expansion plans, he stated that they are going into tier-3, tier-4 cities and have opened nearly 80 low cost branches, which are purely technology based.
30 March 2018
Indiabulls Record a 35% Rise in Net Profit this Q3
India’s second largest housing finance company has registered a net profit of 35% in Q3 that ended December 2017. The registered net profit for Q3 was registered at Rs.11.67 billion. Last quarter ending September, the profit recorded by the company was Rs.8.61 billion. On a year-to-year basis, the company saw a 55.4% rise in net profit. The rise in profit is also associated with the fact that Indiabulls have sold 33% stake to OakNorth bank limited. This deal was closed at Rs.7.70 billion. It the company were not to account for this sale, their year-on-year profit growth would be 24%.
31 January 2018
Indiabulls Housing Finance Grows Remarkably, Reports a 55% Increase in Net Profit
For the third quarter of this fiscal year, Indiabulls Housing Finance Limited reported its consolidated net profit to be at Rs.1,167.73 crore - a 55.38% rise. Meanwhile, the revenues for the same term increased organically to more than Rs.4,000 crore.
Gagan Banga, the Vice-Chairman and Managing Director of the Indiabulls Housing Finance, spoke about the remarkable performance of the company and said that they aim to grow organically in the coming months.
He also appeared to be quite optimistic about the government’s efforts in the affordable housing sector and expected them to push it in the upcoming budget too.
30 January 2018
Rs. 1,000 crore raised by Indiabulls
Indiabulls Housing Finance Limited (IBHFL) has raised Rs. 1,000 crore by issuing India’s first Social Affordable Housing Bond. The private lender Yes Bank was the sole party responsible for arranging and subscribing the bonds.
This bond will adhere to the Social Bond Principles, 2017, issued by the International Capital Market Association. As per these principles, KPMG will annually provide assurance services on the use of bond proceeds, in-line with the principles.
The bond will have a tenure of five years and has been rated ‘ICRA AAA’ by the Information and Credit Rating Agency of India (ICRA). The Credit Rating Information Services of India Limited too has given the bond ‘AAA’ rating. Additionally, the bond will be listed on the National Stock Exchange Limited and Bombay Stock Exchange Limited.
The funds generated from the bonds will be used to bankroll and refinance the requirements in the affordable housing sector. They will also be directed towards the beneficiaries and developers, who fall under the Pradhan Mantri Awas Yojana.
10 January 2018
Indiabulls Raises Rs.1000 crore from Yes Bank
Indiabulls housing finance has said in a report today that they have raise Rs.1000 crore from Yes Bank. Money was raised through a 5 year bonds exclusively for the purpose of financing low cost housing. The initiative is to create affordable housing to the people in the nation.
This move by Indiabulls is also in harmony with the government’s initiative of providing housing for all by the year 2022. Yes Bank also believes that this injection of funds will create a benchmark for future problems in this space.
9 January 2018
-
Indiabulls Housing Finance to Collect Rs 1,000 crore through Bonds
Indiabulls Housing Finance, a premier housing loan company, has accumulated Rs. 1,000 through issuing bonds on a private placement basis. The newly accumulated capital shall be utilised to enhance tier II capital that will widen the company’s long-run resources and improve the capital adequacy. 100,000 redeemable non-convertible subordinated debentures have been allocated with a face value of Rs 1 lakh each, the company revealed in a regulatory filing. The bonds were issued in two slots of Rs 100 and Rs 900 crore each. The tenor of the first slot is 7 years while the second slot has a tenor of 10 years. The bonds will be anticipated to yield an interest rate of 8.35 per annum.
19 September 2017
-
Housing demand boosts Indiabulls net profit
IBHFL or Indiabulls Housing Finance Limited announced recently that they encountered a profit of Rs.788.20 crore during the first 3 months of the financial year. There was an increase of 25.7% in the net profit for Indiabulls Housing Finance Limited. This growth has happened due to the expansion of the mid-income housing segment.
Indiabulls Housing Finance Limited, in the financial year 2016-2017, recorded a profit of Rs.630.10 crore. For this quarter of FY 2017-2018, the company’s total revenues went up by 24.2%. At present, it stands at Rs.3,225 crore. Last year, during the same time, Indiabulls Housing Finance Limited’s revenue stood at Rs.2,597.50 crore. Last year, the bad loans or NPAs, stood at 0.36%, However, this year the NPAs or band loans stand at 0.31%.
31 July 2017
-
Indiabulls targeting at more than 30 percent loan growth
Indiabulls Housing Finance had a gain in trade recently and recorded the highest loan growth in the past 5 quarters. The Housing Finance company reports a massive leap of 25% in June quarter. This growth was supported by reduction in cost of funds, cost to income ratio and higher loan growth.
MD and VC of Indiabulls Housing Finance, Gagan Banga, stated that the company will be targeting 30% loan book growth now. Government initiative like the Pradhan Mantri Awas Yojana aided the growth. Banga added that the organization has maintained the GNPA at 85% BPS or basis points for the past 3 years.
26 July 2017
-
Indiabulls Housing Finance reduces prices of home loans by 15 bps
Indiabulls Housing Finance, a leading company in the housing finance industry, decreased the rates of housing loans by 15 base points (bps). Currently, the company has the lowest housing loan rates in the entire industry. From now on, female borrowers will have to pay a loan rate of 8.35% and others will have to pay 8.40%. The EMI for housing loans will now be just Rs.758 for 1 lakh for a loan period of up to 30 years.
A few other housing loan companies also minimised their loan rates over the past few days. Some of the organisations include ICICI Bank and Housing Development and Finance Corp (HDFC).
18 May 2017
Details
