Saturday, October 30, 2021

Shriram Housing AUM grows by 53% YoY to Rs4,255cr

     


Shriram Housing AUM grows by 53% YoY to Rs4,255cr; PAT rises to Rs18.8cr in Q2FY22


Profit After Tax grew by 73% QoQ to INR 18.8 Cr. compared to INR 10.9 Cr. previous quarter. Asset quality improved with Gross Stage 3 assets at 1.72%, declining 36bps sequentially.


Shriram Housing Finance Limited, a Mumbai based affordable housing finance company, promoted by Shriram City Union Finance Limited (Shriram City) and part of the Shriram Group announced their financial results for Q2FY22. In Q2FY22, Assets Under Management (AUM) grew by 53% YoY to INR 4,255 Cr. compared to INR 2,779 Cr. in Q2FY21.

Disbursments were better than the pre-covid levels, at INR 633 Cr. compared to INR 221 Cr. in Q1FY22 and INR 517 Cr. in Q2FY21. Profit After Tax grew by 73% QoQ to INR 18.8 Cr. compared to INR 10.9 Cr. previous quarter. Asset quality improved with Gross Stage 3 assets at 1.72%, declining 36bps sequentially.

The Company’s collections have seen a marked uptick, with collection efficiency at 99.5% in Q2FY22. The Expected Credit Losses (ECL) provision as on Sep-21 is at INR 49.8 Cr., resulting in total provision to asset ratio at 1.34%. The total Stage 3 provision coverage ratio stands at at 69.8%.




Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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