Bajaj Housing Finance Ltd on Monday posted a 20.95 per cent year-on-year (YoY) surge in its second quarter profit for the ongoing financial year 2024-25 (Q2 FY25). This marks the company’s first earnings report post its recently-concluded initial public offering (IPO).
During the quarter under review, Bajaj Housing’s profit came at Rs 545.60 crore as against Rs 451.11 crore in the year-ago period. In Q2 FY25, revenue from operations moved up 26.09 per cent to Rs 2,410.15 crore from Rs 1,911.49 crore in the corresponding period last year.
The housing finance company said it crossed the Rs 1 lakh crore asset under management (AUM)-mark in the September 2024 quarter.
“Last quarter, the company continued to have strong growth with AUM growth of 26 per cent with absolute AUM growth in same range of last two quarters, PBT growth of 23 per cent (PAT growth of 21 per cent) while maintaining strong risk performance with GNPA at 0.29 per cent and NNPA at 0.12 per cent. Operating efficiencies as well continued to improve and opex to NTI improved to 20.5 per cent vs 22.1 per cent in last year Q2,” it stated.
In Q2 FY25, disbursements were at Rs 12,014 crore and remained in line with Rs 12,154 crore in Q2 FY24, which was highest ever driven by few marquee transaction in commercial business.
As of September 30, 2024, net worth stood at Rs 18,772 crore. Capital adequacy ratio stood at 28.98 per cent as against regulatory requirement of 15 per cent. Out of total CRAR, Tier-1 capital was 28.46 per cent.
Bajaj Housing said its liquidity buffer stood at Rs 3,220 crore (as of September 30, 2024) and liquidity coverage ratio for the quarter stood at 220.9 per cent as against regulatory requirement of 85.0 per cent.
The results were announced post-market hours today. Earlier in the day, Bajaj Housing shares settled 1.97 per cent lower at Rs 136.55.
The firm, a part of Bajaj Group, is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB).
