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India Home Loans Ltd.

BSE: 530979 Sector: Financials
NSE: N.A. ISIN Code: INE274E01015
BSE LIVE 15:27 | 18 Aug 110.45 5.25
(4.99%)
OPEN

108.00

HIGH

110.45

LOW

108.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 108.00
PREVIOUS CLOSE 105.20
VOLUME 6376
52-Week high 160.00
52-Week low 38.00
P/E 131.49
Mkt Cap.(Rs cr) 158
Buy Price 110.45
Buy Qty 4405.00
Sell Price 0.00
Sell Qty 0.00
OPEN 108.00
CLOSE 105.20
VOLUME 6376
52-Week high 160.00
52-Week low 38.00
P/E 131.49
Mkt Cap.(Rs cr) 158
Buy Price 110.45
Buy Qty 4405.00
Sell Price 0.00
Sell Qty 0.00

India Home Loans Ltd. (INDIAHOME) - Chairman Speech

Company chairman speech

INDIA HOME LOAND LIMITED ANNUAL REPORT 2009-2010 CHAIRMAN'S REPORT Dear Shareholders, It gives me great pleasure to share the developments in your Company on the journey after the management take over so far. When we took over, the NPAs was over Rs.250 Lacs with a negative in P&L account. Hence we first focused on the recovery of NPAs and embarked on a collection drive. The efforts are continuing to recover to the maximum possible and send a c1par message that we will not stand disobedience to our loans. We have added people at Senior Management and infused additional Capital through the warrants issued to the promoters. We will,be further augmenting resources by strengthening the Capital base in the near future. This would help in giving a good start for fresh loan disbursements. This would also help the company to leverage and raise additional funds through refinancing for future requirerments. You will be glad to know that we have opened a new Branch Off ice in Ahmadabad. We are planning to open more branch offices and Franchise to regional outfits having good experience in the housing finance in the past so as to have a better reach across the country. Our focus is to serve those in the Semi urban markets besides Tier 11 and Tier III cities. The turnaround in the Economy is fuelling the growth across and the effect is felt more in these parts. While the growth in these areas are significant, the reach of housing finance is poor. Our aim is to address these segments and service those who are in need of affordable housing loans and to this effect we are expanding our reach to take care of their needs. In view of these initiatives taken, I am confident of delivering significant improvement in performance in the years to come. However, due to the efforts in clearing up the NPAs, setting up the management team and putting the house in order, not much in disbursement of fresh loans could be undertaken. The early part of 2009 was also quite a difficult period experienced by the industry and we did all that is necessary to set up a strong base to take care of the future growth. Therefore, not much in terms of new business could be done. However, the process has already started now and with the infusion of funds, our business is bound to grow in leaps going forward. I wish to convey my sincere thanks and appreciation for your support and faith in us. With Regards, Mahesh N Pujara