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Indiabulls Housing Finance Limited highest quarterly profit ever

Highlights Q3 FY15-16
Highest quarterly profit ever at PAT of Rs. 602.4 crore, up by 26.0%
A fourth interim dividend of Rs. 9/- per share has been declared.
Balance sheet size up 33.3% to Rs. 71,199.2 crore
NII up by 30.4% to Rs. 971.3 crore
Gross NPA and Net NPA stable at 0.83% and 0.35% respectively, compared to 0.84% and 0.35% respectively in Q2 FY16 and 0.86% and 0.34% respectively in Q3 FY15
Provision cover of 141.2% of Gross NPA

Highlights 9M FY15-16
PAT up 23.6% to Rs. 1,669.2 crore
NII up 30.3% to Rs. 2,677.3 crore
LAP grading engagement continues with CRISIL Ratings
First LAP grading report published by ICRA, A Moody’s Investor Service Company

Mumbai, 20th January 2016:The Board of Directors of Indiabulls Housing Finance Ltd (IBHFL), India’s second largest housing finance company, announced its unaudited results for the quarter ended December 31st, 2015.

Key Financials:

 (Rs. Cr.)

Q3 FY 16

Q3 FY 15

YOY Growth (%)

9M FY 16

9M FY 15

YOY Growth (%)

Total Revenues




























Gross NPA (%)




Net NPA (%)




Increasing efficiencies in key components of the business
Bank loans contribution to total funding have dropped to 49%. On a rolling 12-month basis non-bank sources have contributed 65% to incremental funding. This has helped us cut cost of debt helping us comfortably maintain spreads
IBHFL sold down Rs. 1,041.6 Cr. of loans in Q3FY16 and for all of 9M FY16 sold down
Rs. 2,915.3 Cr. This is more than the Rs. 2,545.5 Cr. IBHFL sold down for the whole of FY15.
The sold down portfolio at the end of 9MFY16 stood at Rs. 7,412.2 Cr.
Our operating efficiencies have been continuously increasing both from increasing employee productivity and increasing scale of business. Cost-to-income has resultantly dropped to an  annualized 14.4% for 9MFY16 from 16.4% for FY15

Uptick in mortgage markets:
JLL, an NYSE listed real estate consultant, reported 28% jump in the sales of residential units in Mumbai, India
Housing loans ranging from Rs. 15 lacs to Rs. 75 lacs remains the strongest growing segment
CBRE, A property advisory firm, in a recent report indicated 18% growth in space leased in top seven Indian cities for 2015. A rule of thumb is 100 sq. ft. of office space will require 1,000 sq. ft. of residential space. This uptick in commercial lending activity is a precursor to spurt in residential sales

Housing loan market has grown at a CAGR of 18%. Housing Finance Companies, which are specialist non-bank finance companies exclusively focussed on housing and mortgage lending, have grown at a CAGR of 22 percent expanding their market share to 39 percent up from 33 percent five years ago.

Expanding engagement for LAP Grading to 2nd rating agency:
IBHFL tied up with ICRA, a Moody’s Investor Service Company, to grade LAP loans which are primarily cash flow based loans extended to small business owners. In Q3FY16, ICRA published its first report on the analysis of LAP loans. Concurrently, IBHFL’s engagement with CRISIL ratings on LAP grading will continue and cover all of the LAP loans that it sanctions from FY16 onwards. 

Mr. Gagan Banga, Vice Chairman and MD, IBHFL commented that, “Indian economy, is expected to be the fastest growing economy in the world for the next three years. Appetite for mortgages in this booming economy is huge and housing finance companies are on a firm footing to capture  significant portion of this growth. IBHFL moves into the last quarter of financial year 2015-16 with profitability and loan growth parameters showing strong trends. IBHFL’s credit costs and operating expenses have been on a declining trajectory and will provide a definitive push to the bottom line of the company for the year ending Mar’16.”

About Indiabulls Housing Finance 
IBHFL is India’s 2nd largest Housing Finance Company by profits and networth in the private sector. IBHFL has a balance sheet size of Rs. 71,199.2 crore and a network of 222 branches with over 5,200 employees. It provides quick, convenient and competitively priced home loans in the affordable housing segment. IBHFL enjoys a AAA long-term rating.