Aadhar Housing reports 41 pc jump in FY19 net at Rs 162 cr

PTI | New Delhi | Updated: 02-05-2019 19:30 IST | Created: 02-05-2019 19:30 IST
Aadhar Housing reports 41 pc jump in FY19 net at Rs 162 cr

Aadhar Housing Finance Thursday reported an increase of 41 per cent in net profit at Rs 162 crore for the 2018-19 fiscal. The company's net profit stood at Rs 115 crore in 2017-18.

Total income increased to Rs 1,263.76 crore from Rs 815 crore in the year-ago period, it said in a release. Loan disbursements during 2018-19 stood at Rs 3,191.85 crore.

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.)

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