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Mortgage lender Indiabulls Housing Finance (IBHF) is aiming to raise Rs 4,500 crore through bond issues in 2014-15, a top company official has said.
"We will raise Rs 4,500 crore in this fiscal through bond issues and on a net basis, excluding repayment of earlier bond issues, the same will be Rs 3,500 crore," the company's Managing Director and chief executive Gagan Banga told PTI.
In 2013-14, it raised Rs 10,525 crore through the bond issuance route, which contributed to 26% of the incremental borrowing done by the company.
A bulk of borrowing last fiscal came through bank loans, where it has relationships with all the 26 state-run banks and 16 lenders from the private and foreign banks space.
Banga said the company is well capitalised with a capital adequacy ratio of over 19% and will not be having any requirements during the fiscal.
The company notched a growth of 24% in the post tax net at Rs 1,568.5 crore for FY14, with the last quarter coming in 23% higher at Rs 451.5 crore. It registered a loan growth of 20% during the fiscal.
"In FY15, the company is targetting a 25-30% growth in both the net profit and loan book in FY15," Banga said, adding the net interest margin of 3.50% will be maintained during the fiscal.
On the asset quality, the company registered a marginal increase in the gross non-performing assets ratio at 0.83% as on March 2014, as against 0.79% in the year-ago period.
Banga said strains on the asset quality have topped out and added "there will be no further deterioration from these levels".
