Grihum Housing Finance Q1 Results: Net profit soars 77% YoY to Rs 48 crore
Grihum Housing Finance, formerly Poonawala Housing Finance, reported a net profit after tax of Rs. 48 crore for the first quarter of this fiscal, up 77% on year. The housing finance company has assets under management of Rs. 8,700 crore, up 33% on year.
“Our organisation now serves more than 80,000 customers. The Company is proactively aligned with regulators and financial institutions, and we have registered stable growth”, said Manish Jaiswal, Managing Director and Chief Executive Officer of Grihum Housing Finance Limited.
Gross non performing asset, or bad loans stood at 1.2%
The housing finance company added 28 branches in FY24, expanding the total network to 210.
During last year, Grihum raised fresh equity of Rs 1,038 crore from US private equity group TPG in two tranches, boosting net worth by 98% to Rs 2,390 crore.
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