Grihum Housing Finance Ltd. has reported a robust performance in its fourth quarter results, achieving a 24% year-on-year increase in net profit to Rs 46 crore. Furthermore, the company attained its highest ever annual net profit at Rs 140 crore, marking a 21% growth compared to the preceding fiscal year.
One of the pivotal drivers of Grihum’s success is the 32% year-on-year growth in assets under management, reaching Rs 8,277 crore. Moreover, the company recorded its highest ever organic disbursement of Rs 2,914 crore during FY24, signifying a substantial 26% increase from the previous fiscal year.
Grihum attributes the augmentation of its distribution and sourcing channels as a major factor in the expansion of its business scale. The company added 28 branches in FY24, bringing the total number of branches to 210.
In terms of asset quality, Grihum reported a gross non-performing assets (NPA) ratio of 0.95%, with net NPA at 0.56%. These figures indicate the company’s robust portfolio quality and effective risk management.
Throughout the fiscal year, Grihum raised fresh equity of Rs 1,038 crore from TPG in two tranches, contributing to a significant increase in its net worth by 98% to Rs 2,390 crore. The company’s capital adequacy ratio stood at a healthy 47.31%, and it maintained a liquidity buffer of Rs 2,443 crore, demonstrating strong financial stability.
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Grihum Housing Finance’s impressive performance in Q4 and throughout the fiscal year underscores its resilience and strategic growth initiatives. The company’s commitment to maintaining strong asset quality and expanding its market presence bodes well for its future prospects in the housing finance sector.