Shriram Housing Finance Limited announced its results for H1 of the Financial Year 2024 saying its Assets Under Management (AUM) crossed the Rs 10,000 Cr milestone, with the company ending H1 with AUM of INR 10,816 Cr.
The company has maintained an accelerated growth momentum with AUM doubling over the last 18 months, coupled with consistent improvement in asset quality.
The disbursals for the first half of the year stood at INR 3,591 Cr, up 95% YoY.
Talking to ETBFSI on the outstanding AUM performance, Ravi Subramanian, MD & CEO of Shriram Housing Finance Company said, “SHFL has achieved a momentous milestone by surpassing 10,000 Crore AUM, being the third affordable housing finance company to do so. Our AUM as at Sep’23 is 10,816 Crore and has grown by 65% YoY and 13% QoQ. SHFL plans to end the year at about 13,000+ Crore of AUM.
“Our distribution across the affordable housing market has been expanding with SHFL now catering from 137 branches spread across 16 states. SHFL Disbursals for H1’24 were 3,591 Crore which have grown by 95% YoY, and these are the highest ever H1 disbursals in the history of the company. SHFL plans to end FY’24 at 7,500 Cr of disbursals, there by continuing to be the highest originating AHFC in the industry.”
Shriram Housing Finance has announced that the asset quality improved with Gross Stage-3 assets at 1.08%, including RBI circular dated 12 Nov’21, a 44 bps YoY improvement.
Net Interest Margins in H1 FY’24 also improved by 65 bps YoY to 7.7%. PAT for H1 FY’24 stood at INR 93.9 Cr, a growth of 46% YoY.
Shriram Housing Finance continues to invest heavily to grow use of digital platforms to service the customer lifecycle.
This is planned through creating comprehensive coverage of product, process, data and governance, the company said.
The company receives over 95% of its application through digital customer onboarding facilitated via its inhouse onboarding app – GrihaPoorti.
