Aptus Housing Finance Q4 results: Net profit increases 21% to 164 cr

Housing finance company Aptus Value has recorded a 21 percent hike in its profit after tax for the quarter ending March 31, 2024 at Rs 164 crore.

The city-based firm had registered a PAT of Rs 135 crore during the same period last year. For the year ending March 31, 2024, the profit after tax went up by 22 per cent to Rs 612 crore, from Rs 503 crore registered during the same period of last year.

Commenting on the financial performance, Aptus Value Housing Finance India Ltd., Managing Director P Balaji said, "I am delighted to announce that FY24 has proven to be a good year for Aptus, marked by significant accomplishments and strong growth. During FY24, we expanded our presence by opening 31 branches, thereby strengthening our network to 262 branches."

Total disbursements made during the quarter under review went up by 45 per cent to Rs 968 crore, from Rs 668 crore registered during the corresponding quarter of last year.

For the financial year ending March 31, 2024, the disbursements grew by 31 per cent to Rs 3,127 crore, from Rs 2,395 crore made during the same period of last year.

"As of March 31, 2024, we have maintained a sufficient liquidity of Rs 1,022 crore including undrawn sanctions of Rs 620 crore from various banks. The company is well capitalized with a net worth of over Rs 3,700 crore," Balaji said.

On the outlook, he said, "Going forward, we will continue to prioritize responsible lending and risk management, ensure sustainable growth and asset quality, and focus on expanding and retaining customer base both in existing and new geographies."

Aptus Value Housing Finance India Ltd currently has a network of 262 branches with over 1.33 lakh active accounts in Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Karnataka, Odisha and Maharashtra.