Indiabulls Housing Finance Q4 net up 24% at Rs 841 cr

Expects to raise $1.5 bn from abroad in FY18

Indiabulls Housing Finance had a 24.4 per cent increase in net profit to Rs 841 crore in the March quarter. Net interest income (NII) rose 21.8 per cent to Rs 1,360 crore.

For the entire financial year, 2016-17, net profit rose 24 per cent to Rs 2,906 crore. NII grew 25.7 per cent to Rs 4,767 crore.

The size of the balance sheet was Rs 103,705 crore. The home loan book is expanding faster than other mortgage loans. With a focus on the mid-income segment, it is aiming at a balance sheet size of Rs 2 lakh crore by FY20, said deputy managing director Ashwini K Hooda.

The company expects the share of housing loans to grow to 66 per cent of total assets by March 2019, from 56 per cent at the end of March 2017. The share of loans against property will decline to 18 per cent, from 22 per cent now; of corporate loans to 15 per cent, from 22 per cent now.

It raised Rs 27,650 crore through debentures and securities in 2016-17. More than the Rs 22,000 crore raised in the 36 months from FY14 to FY16.

Hooda said they raised $550 million from abroad — $350 mn via external commercial borrowing (ECB) and $200 mn via rupee-denominated bonds in global markets ('masala bonds') during FY17. The company expects to almost triple the amount raised through international markets in 2017-18 — up to $750 mn through ECB and $750 mn through masala bonds.