Bajaj Housing Finance Reports 20.95% Net Profit Growth in Q2 FY25
Bajaj Housing Finance (BHFL) has reported a 20.95% increase in its net consolidated profit for the quarter ended September 30, 2024. The company's financial performance also saw a 26.09% rise in total income.
Bajaj Housing FinanceHousing FinanceQ2 Fy25Real EstateFinancial PerformanceReal Estate NewsOct 21, 2024
The company's net consolidated total income also saw a robust increase, growing by 26.09% to Rs 2,410.24 crore in Q2 FY25 compared to Rs 1,911.55 crore in the same period last year. BHFL has made an initial public offer (IPO) during the period ended September 30, 2024, issuing 93,71,42,856 equity shares of Rs 10 each, which includes a fresh issue of 50,85,71,428 equity shares and 42,85,71,428 equity shares offered for sale by selling shareholders.
As of September 30, 2024, BHFL's net worth was Rs 18,771.56 crore, with a debt-equity ratio of 3.97, total debts to total assets ratio of 0.79, gross non-performing assets (NPAs) of 0.29%, and net NPAs of 0.12%. The provisioning coverage ratio on stage 3 assets was 58%.
Assets under management (AUM) grew by 26% to approximately Rs 1,02,569 crore as of September 30, 2024, from Rs 81,215 crore as of September 30, 2023. Net interest income for Q2 FY25 increased by 13% to Rs 713 crore from Rs 632 crore in Q2 FY24. Loan losses and provisions for Q2 FY25 were Rs 5 crore, down from Rs 18 crore in Q2 FY24. The company also holds a management and macroeconomic overlay of Rs 44 crore as of September 30, 2024.
Bajaj Housing Finance is a leading financial services company in India, specializing in housing finance. With a strong track record of growth and a robust financial performance, BHFL continues to be a key player in the real estate finance sector.
Frequently Asked Questions
What was Bajaj Housing Finance's net profit in Q2 FY25?
Bajaj Housing Finance's net profit in Q2 FY25 was Rs 545.60 crore, marking a 20.95% increase from Rs 451.11 crore in the same quarter of the previous fiscal.
How much did Bajaj Housing Finance's total income grow in Q2 FY25 compared to the same quarter last year?
Bajaj Housing Finance's total income grew by 26.09% in Q2 FY25, from Rs 1,911.55 crore to Rs 2,410.24 crore.
What is the debt-equity ratio of Bajaj Housing Finance as of September 30, 2024?
As of September 30, 2024, the debt-equity ratio of Bajaj Housing Finance was 3.97.
How much did the company's assets under management grow in Q2 FY25?
Bajaj Housing Finance's assets under management grew by 26% to Rs 1,02,569 crore in Q2 FY25 from Rs 81,215 crore in Q2 FY24.
What was the provisioning coverage ratio on stage 3 assets for Bajaj Housing Finance as of September 30, 2024?
The provisioning coverage ratio on stage 3 assets for Bajaj Housing Finance as of September 30, 2024, was 58%.
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