Aadhar Housing Finance Ltd. Announces Q4 & FY24 Financial Results
MUMBAI, 28 MAY, 2024 (TGN): Aadhar Housing Finance Ltd, which listed on stock exchanges on May 15th, 2024, has announced its financial results for the Quarter and Year ended March 31st, 2024.
Key Performance Highlights:
| Particulars
(INR Cr) |
FY24 | FY23 | YoY |
| Assets Under Management (AUM) | 21,121 | 17,223 | 23% |
| Disbursements | 7,072 | 5,903 | 20% |
| Profit after tax | 750 | 564* | 33% |
| Net worth | 4,450 | 3,698 | 20% |
| ROA (%) | 4.2% | 3.6%* | + 60 bps |
| ROE (%) | 18.4% | 16.5%* | + 190 bps |
| GNPA on AUM (%) | 1.08% | 1.16% | – 8 bps |
| Loan Accounts (No.) | 2,66,019 | 2,33,228 | 14% |
* Prior to taking into account exceptional items
Commenting on the FY24 performance, Mr. Rishi Anand, MD & CEO of Aadhar Housing Finance Ltd said, “Financial Year 2024 has been an excellent year for us, characterized by robust financial achievements and expansion efforts sustaining our growth trajectory. We kicked off the new financial year by successfully concluding our Initial Public Offering and subsequently listing on the NSE & BSE on May 15th, 2024. We extend a heartfelt welcome to all our shareholders, as you all have now become valued members of the Aadhar Housing family.
I am delighted to inform you all that the company ended FY24 with AUM of INR 21,121Cr, a robust growth of 23% YoY. This was led by an 20% growth in disbursements. The momentum in last FY resulted in a 33% growth in Profit After Tax YoY. We have successfully maintained a robust liability profile and effectively controlled borrowing costs. The company’s focus has always been on long tenor borrowings.
GNPA on AUM for the year stood at 1.08% and Net NPA stood at 0.71% as compared to FY 23 levels of 1.16% and 0.84% respectively.
We expanded our reach pan India with more than 523 branches covering 534 districts across 20 states, serving 266k+ live accounts. We aim to expand our distribution to achieve deeper market penetration and this expansion will be executed systematically.
We are strongly committed to offer Low income housing financing solutions and empowering majorly EWS/LIG segments of society. With our strong foundation and strategic initiatives, we’re poised to drive sustainable growth for the company and create lasting value for all stakeholders, while aiming to make a positive difference in the lives of our ENDS/ (TGN)