- NBFC
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Grihum Housing Finance Q4 Results: Net profit rises 24% YoY to Rs 46 crore
Grihum Housing Finance Q4 Results, Grihum Housing Finance Q4 earnings, Grihum Housing Finance shares , Grihum Housing Finance, markets newsKolkata: Grihum Housing Finance, formerly Poonawalla Housing Finance, has earned Rs 46 crore net profit in the March quarter, registering a 24% sequential rise, backed by steady business expansion. The net profit rose 151% year-on-year over Rs 18 crore seen in the fourth quarter last year.
Net profit in the fiscal year ended March 31 rose 21% to a record Rs 140 crore.
Grihum’s assets under management increased 32% to Rs 8,277 crore in FY24 while reporting highest-ever organic disbursement of Rs 2,914 crore, an increase of 26%.
The housing financier attributed growth in scale of business to expansion of distribution and sourcing channels. It added 28 branches in FY24, expanding the total network to 210.
During the year, Grihum raised fresh equity of Rs 1,038 crore from US private equity group TPG in two tranches, boosting net worth by 98% to Rs 2,390 crore. TPG owns 99% in the mortgage lender, who's capital adequacy ratio stood at 47.31% while liquidity buffer was Rs 2,443 crore as of March-end.
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