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Results
07-Feb-25
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Analysis
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Aadhar Housing Finance
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AUM growth at 21%
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The income from operation of Aadhar Housing Finance increased 18.51% to Rs 797.61 crore in Q3FY2025. Overall OPM rose to 78.95% in Q3FY2025 from 78.58% in Q3FY2024, leading to 19% rise in operating profit to Rs 629.68 crore. Other expenditure increased 25% to Rs 52.99 crore and employee expenses moved up 13% to Rs 114.94 crore.
Interest cost increased 18.35% to Rs 296.87 crore. Depreciation moved up 18.90% to Rs 6.48 crore. Provisions increased 55% to Rs 18.68 crore in Q3FY2025. PBT moved up 18.08% to Rs 307.68 crore.
The effective tax rate increased to 22.21% in Q3FY2025 compared to 21.60% in Q3FY2024. Provision for tax was expense of Rs 68.34 crore, compared to Rs 56.29 crore. Profit after tax rose 17.17% to Rs 239.34 crore.
Profit attributable to non-controlling interest was nil in both the periods. The share of profit of associate were nil in both the periods. Finally, Net profit attributable to owners moved up 17.17% to Rs 239.34 crore.
Book value of the company was at Rs 142.0 and adjusted book value was Rs 137.9 (net of NNPA) end December 2024.
Business highlights
AUM increased 21% to Rs 23976 crore end December 2024 over December 2023, of which retail home loans contributed Rs 17760 crore and other mortgage loans contributed Rs 6216 crore.
The disbursements have increased 20% to Rs 2094 crore in Q3FY2025.
Spread and NIM during the quarter stood at 5.8% and 9.2% respectively.
The total number of branches stands at 557 end December 2024.
Gross Stage 3 is at 1.36% and Net Stage 3 is 0.95% end December 2024.
Net Worth grew by 44% YoY to Rs 6114 crore end December 2024.
Financial performance: 9MFY2025
The income from operation of Aadhar Housing Finance increased 20.05% to Rs 2275.02 crore in 9MFY2025. Overall OPM has increased to 78.50% in 9MFY2025 from 78.43% in 9MFY2024, leading to 20% rise in operating profit to Rs 1785.83 crore. Other income declined 66.67% to Rs 0.05 crore. Interest cost increased 18.52% to Rs 859.06 crore. Depreciation moved up 23.46% to Rs 18.79 crore. PBT moved up 22.31% to Rs 857.35 crore.
The effective tax rate increased to 22.20% in 9MFY2025 compared to 21.84% in 9MFY2024. Provision for tax was expense of Rs 190.36 crore, compared to Rs 153.1 crore. Profit after tax rose 21.74% to Rs 666.99 crore.
Profit attributable to non-controlling interest was nil in both the periods. The share of profit of associate were nil in both the periods. Finally, Net profit attributable to owners rose 21.74% yoy to Rs 666.99 crore in 9MFY2025.
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Aadhar Housing
Finance: Consolidated Results
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Particulars
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2412 (3)
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2312 (3)
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Var %
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2412 (9)
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2312 (9)
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Var %
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2403 (12)
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2303 (12)
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Var %
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Income from Operations
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797.61
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673.05
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19
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2275.02
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1895.02
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20
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2586.81
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2043.23
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27
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OPM (%)
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78.95
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78.58
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78.50
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78.43
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77.64
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76.37
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OP
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629.68
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528.89
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19
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1785.83
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1486.23
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20
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2008.32
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1560.42
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29
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Other Income
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0.03
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0.03
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0
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0.05
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0.15
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-67
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0.17
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0.29
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-41
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PBDIT
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629.71
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528.92
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19
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1785.88
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1486.38
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20
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2008.49
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1560.71
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29
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Interest (Net)
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296.87
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250.84
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18
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859.06
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724.81
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19
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986.69
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799.19
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23
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PBDT
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332.84
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278.08
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20
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926.82
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761.57
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22
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1021.80
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761.52
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34
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Provisions
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18.68
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12.07
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55
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50.68
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45.37
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12
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41.23
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49.21
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-16
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Depreciation /
Amortization
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6.48
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5.45
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19
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18.79
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15.22
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23
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20.98
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16.49
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27
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PBT before EO
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307.68
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260.56
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18
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857.35
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700.98
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22
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959.59
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695.82
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38
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EO
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0.00
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0.00
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-
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0.00
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0.00
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-
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0.00
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0.00
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-
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PBT after EO
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307.68
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260.56
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18
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857.35
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700.98
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22
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959.59
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695.82
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38
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Tax Expenses
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68.34
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56.29
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21
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190.36
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153.10
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24
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209.95
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151.06
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39
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PAT
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239.34
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204.27
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17
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666.99
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547.88
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22
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749.64
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544.76
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38
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Profit attributable to
non-controlling interest
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0.00
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0.00
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-
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0.00
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0.00
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-
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0.00
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0.00
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-
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Share of profit/loss
of Associate
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0.00
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0.00
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-
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0.00
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0.00
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-
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0.00
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0.00
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-
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Net Profit after
minority and share in associate
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239.34
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204.27
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17
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666.99
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547.88
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22
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749.64
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544.76
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38
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EPS *
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22.2
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19.0
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20.6
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17.0
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17.4
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12.7
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Adj BV (Rs)
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137.9
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104.0
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137.9
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104.0
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110.0
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90.0
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* Annualized on
current equity of Rs 430.68 crore. Face Value: Rs 10, Figures in Rs crore
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Source: Capitaline
Corporate Database
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