Grihum Housing Finance, the erstwhile Poonawalla Housing Finance, has registered the highest ever yearly Profit After Tax (PAT) of Rs 140 crore, jumping 21% YoY and Rs 46 crore for Q4, up by 24% QoQ.
Further, Grihum’s Asset Under Management (AUM) stands at Rs 8,277 Crore, marking a 32% jump YoY and 9% QoQ. Asset Quality remained stable with a Gross NPA ratio at 0.95% and Net NPA at 0.56%. The Company has been delivering AUM growth in the range of 30% quarter on quarter.
Grihum raises fresh equity
During the FY24, Grihum raised fresh equity of Rs 1,038 Cr during FY24 and its net worth has risen to Rs 2,390 Cr, up by 98% YoY and 30% QoQ.
Further, its Capital Adequacy Ratio stood at 47.31% while the liquidity buffer is Rs 2,443 Cr.
The company while announcing the results told that the capital was raised in two tranches during the year from TPG, which has strengthened Grihum’s balance sheet and led to the moderation of leverage ratio to 2.4x.
Talking exclusively with ETBFSI, on the sidelines of the results announcement, Manish Jaiswal, the MD&CEO of Grihum Housing Finance talked about the company’s business plans for the coming year.
“Our track record over the past six years has been strong. We have doubled our AUM every three years. We’re committed to maintaining this momentum. Our primary focus remains on efficiently serving as a national-scale affordable housing finance company, catering specifically to the hardworking, self-made individuals of Real India,” Manish Jaiswal said.
“With nearly one crore people in non-metro India still in need of homes, we’re dedicated to addressing this gap with unwavering determination. The ongoing rurbanization trend in semi-urban India, fuelled by improved connectivity, further underscores the need for housing, which we’re poised to fulfill,” he added.
Plans to allocate fresh capital in FY25
The MD&CEO said that this capital infusion allows us to prioritize crucial areas like digital transformation, expanding our network of 210 branches nationwide, and investing in skilled personnel.
“With this injection, we have the flexibility for expansion over the next 18 months. The first tranche, received in July 2023, has been strategically utilized, and we plan to leverage the second tranche just received at the same rate as we continue our growth trajectory,” he mentioned.
Further, the company has delivered its highest ever organic disbursement of Rs 2,914 Cr for FY24, up 26% YoY.
