Indiabulls Housing Fin Q1 Net up 20.6% at Rs 511.3 cr

Indiabulls Housing Finance today reported a 20.6 per cent jump in its profit at Rs 511.3 crore in the April-June quarter with the help of higher loan disbursement.
The company had reported a profit-after-tax (PAT) of Rs 423.8 crore in the same period last year.
"We saw strong loan disbursement in the quarter. We had disbursed Rs 4,550 crore as against Rs 3,655 crore last year," company's deputy managing director Ashwini Hooda said.
At the end of the quarter, the balance sheet size stood at Rs 53,959 crore as against Rs 46,359 crore previous year.
Net interest income (NII) grew 26 per cent to Rs 821.5 crore as against Rs 652.4 crore in the year-ago period.

The asset quality remained stable with gross NPAs at 0.85 per cent and net NPA at 0.36 per cent in the quarter.

Spreads were stable at 3.28 per cent on book basis and 3.12 per cent bps on incremental basis.
The company raised Rs 4,000 crore through non convertible debentures in the first quarter.
"We are planning to raise around 8,000 crore more through bonds, which are cheaper than bank borrowing, in the rest of the fiscal," Hooda said.
It has also sought regulatory approval to raise USD 500 million through external commercial borrowing.
"We are expecting to raise USD 300 million through ECB. We may raise it in next 2-4 weeks," Hooda said.