Indiabulls confident of growing business by over 20% in current fiscal

Mortgage lender Indiabulls Housing Sunday said it has high liquidity as well as capital adequacy and is confident of growing its business by 20 per cent plus in the current macro environment.

The statement comes amidst concerns of liquidity crisis for the NBFC sector.

"Indiabulls Housing has over the years followed strict discipline of maintaining an optimally matched balance sheet, high liquidity and high capital adequacy," the company said in its Liquidity and ALM Update.

Indiabulls Housing remains comfortably placed, and as demonstrated consistently in the past eight years, is confident of growing its business by 20 per cent plus in the current macro environment, it said.

This is the only non-bank company in India to follow strict and conservative practice of repayments through a third-party trust managed by Axis Bank Trustee, wherein all scheduled repayments are transferred to the trust seven days in advance on a rolling basis, thereby ensuring timely, fail-proof repayment discipline of all obligations, it added.

NBFC sector has been under pressure due to concerns over a liquidity crisis and the exposure of non-banking financial companies (NBFCs) to the beleaguered IL&FS.