Aadhar Housing reports 41 pc jump in FY19 net at Rs 162 cr
The gross retail NPA (on retail AUM) was at 0.58 per cent as on March 31, 2019, Aadhar Housing said. Total assets under management (AUM) grew to Rs 10,016 crore by the end of 2018-19 from Rs 7,966 crore in 2017-18.
"Most of the NBFC/HFCs have been passing through a tough, challenging time from September 18 onwards. The banks have supported liquidity through the purchase of a loan pool, and Aadhar continues to maintain sufficient liquidity. "The process of change of the company's ownership and control to global private equity major Blackstone is at an advanced stage," said Deo Shankar Tripathi, MD and CEO, Aadhar Housing Finance Ltd.
Blackstone will be infusing primary equity of Rs 800 crore in the company which will substantially strengthen the net worth of the firm, he said. Aadhar is a subsidiary of Wadhawan Global Capital (WGC) with equity participation from DHFL and International Finance Corporation (a World Bank subsidiary).
It was formerly known as DHFL Vysya Housing Finance.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)