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India Shelter Finance Corporation Limited AUM Crosses Rs. 6,084 Crores in FY24, Registers YoY Growth of 40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gurugram, Haryana, India
Investor Release The Board of Directors of India Shelter Finance Corporation at its meeting held today, approved the audited financial results for quarter and full year ended March 31, 2024.
Commenting on the performance, Mr. Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation said, “It has been a good year for India Shelter, marked by strong financial performance and rapid footprint expansion for sustaining high growth. This year also marked a significant milestone for us with the completion of our Initial Public Offering and subsequent listing on the NSE & BSE on 20th December 2023. This momentous occasion was the culmination of years of dedication and perseverance. It was a surreal and humbling experience as we rang the ceremonial bell, ushering in a new era of growth and opportunity for India Shelter.
India Shelter now operates out of 223 branches in 15 states. We added 40 new branches in FY24. During the year, we witnessed strong AUM growth of 40% YoY, led by a 35% YoY increase in disbursements. Our margins remained in line with our guidance for the medium term at 6%. In terms of asset quality, our stage 3 improved by 16bps YoY to 1.0%.
I’m delighted to inform you all that in the current tight liquidity situation, India Ratings and Research has assigned AA- (Stable) as our long-term rating.
As we look ahead, we remain determined to pursue providing affordable housing solutions and empowering the underserved segments of our society. With our strong foundation, innovative spirit, and commitment to excellence, we are confident in our ability to create long-term value for all our stakeholders while positively impacting the lives of countless individuals and communities.”
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About India Shelter Finance Corporation India Shelter provides affordable home loans and loan against property in Tier 2 and 3 geographies in India. India Shelter provides home loans to customers from low-and middle-income segments who are building or buying their first homes. The company has a strong distribution moat with its Pan-India network in 15 states via 215 branches and maintains a granular portfolio. The company is being run by an experienced professional management team backed by marquee investors.
Disclaimer Forward-looking statements concerning the Company's future business prospects and business profitability are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of the forward-looking statements become materially incorrect in the future or update any forward-looking statements made from time to time by or on behalf of the Company. |
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