 |
Analyst Meet / AGM
22-Oct-24
|
|
|
|
|
|
|
|
Conference Call
|
|
|
|
Bajaj Housing Finance
|
|
Expects credit cost to remain stable going forward
|
|
|
|
|
Bajaj Housing Finance conducted a conference call on 22 October 2024 to discuss its financial results for the quarter ended September 2024. Atul Jain, MD&CEO of the company addressed the call:
Highlights:
The company achieved 2 milestones during the quarter first is the listing of the equity shares on exchanges and crossing an AUM of Rs 1 lakh crore in 7th year of operation.
The company has recorded strong AUM growth of 26% end September 2024.
PBT has increased 23%, while net profit moved up 21%.
The asset quality remained strong with gross NPAs of 29 bps and net NPAs of 12 bps.
The cost income ratio has improved to 20.5% from 22.1% last year.
The credit cost was at 2 bps, while net of overlays release the credit cost was 14 bps in Q2FY25.
Home loan growth was 24%, LAP 18%m, lease rental discounting 28% and developer Finance 56% end September 2024.
Loan mix has remained steady with home loans at 57.2%, LAP at 10%, LRD at 19.6%, developer finance at 11.7% and others at 1.7%.
The disbursements were lower in Q2 over Q2 last year on a count of lower LRD disbursements as the company had recorded 2 marquee LRD transactions in Q2 last year.
The cost of borrowings rose 5 bps qoq and 28 bps yoy to 7.92% in Q2FY2025.
Net interest margin has improved on sequential basis to 4.1% from 3.9% in Q1FY25, while declined from 4.4% in Q2FY24.
RoA stood at 2.5% from 2.6% Q2 last year. RoE was at 13% compared with the 16% Q2 last year, down due to capital raise.
Segment wise retail segment disbursements have increased 7%, while the commercial segment disbursements have declined 9% in Q2 over Q2 last year.
With the moderation in the stage 2 assets, the company does not see any significant change in the credit cost ahead.
On roll employees have shown reduction, but contractual employees have increased by 400 to 450 in current year.
The yield on home loan stands at 8.8-9.2%, LAP at 10-10.5%, LRD at 8.5-9% and developer finance at 12-13%.
|
|
|
|
Previous News |
Bajaj Housing Finance standalone net profit rises 20.95% in the September 2024 quarter
(
Results
-
Announcements
21-Oct-24
17:45
)
|
|
|
Sensex, Nifty hit new life high; realty shares in demand
(
Market Commentary
-
Mid-Session
16-Sep-24
10:34
)
|
|
|
Bajaj Housing Finance IPO subscribed 2.01 times
(
IPO Centre
-
IPO News
09-Sep-24
17:06
)
|
|
|
Bajaj Finance now holds 88.75% stake in Bajaj Housing Finance
(
Corporate News
-
13-Sep-24
20:56
)
|
|
|
Bajaj Housing Finance allots NCDs aggregating Rs 1,500 cr
(
Corporate News
-
17-Oct-24
17:39
)
|
|
|
Benchmarks drop in early trade; breadth negative
(
Market Commentary
-
Mid-Session
04-Oct-24
09:33
)
|
|
|
Bajaj Housing Finance IPO subscribed 7.50 times
(
IPO Centre
-
IPO News
10-Sep-24
17:33
)
|
|
|
Bajaj Housing Finance
(
Analyst Meet / AGM
-
Conference Call
22-Oct-24
18:20
)
|
|
|
Bajaj Housing Finance allots NCDs aggregating Rs 550 cr
(
Corporate News
-
04-Oct-24
15:15
)
|
|
|
Bajaj Housing Finance standalone net profit rises 83.99% in the September 2022 quarter
(
Results
-
Announcements
24-Nov-22
15:50
)
|
|
|
Stock Alert: Bajaj Housing Finance, Bajaj Finance, M&M Financial Services, Shilpa Medicare, Bank of Baroda
(
Market Commentary
-
Stock Alert
04-Oct-24
08:37
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|