Aavas Financiers Ltd Financial Results, PAT Growth of 66% YoY, AUM Growth of 49% YoY

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By Vivek K. Mobile: 09920183006 Email: indianshowbusiness@gmail.com

Aavas Financiers Limited has declared Un-audited Financial Results for the quarter and nine-months ended 31st December 2018.

Key Performance Metrics for 9MFY19:

Particulars (Rs. Mn)

9M FY19

9M FY18

Y-o-Y

AUM

52,834

35,477

49%

Disbursements

17,994

13,090

37%

PAT

1,218

732

66%

GNPA (%)

0.58%

0.82%

Improved by 24 bps

ROA (%)

3.58%

3.22%

Maintained above 3%

Incremental Loan Accounts (No.)

21,923

15,697

40%

NIMs (Incl. Fee & Other Income)

9.39%

8.86%

Improved by 53 bps

 

Performance Highlights:

  • ·         AUM as on 31st December 2018 is Rs. 52,834 Mn of which
    • o   Home Loans contributed 75% with ATS of Rs. 0.88 Mn
    • o   Other Mortgage Loans contributed 25% with ATS of Rs. 0.77 Mn
  • ·         71 new branches opened in last 12 months. The total number of branches stands at 210 as on 31st December 2018
  • ·         Gross NPAs is 0.58% improved by 24 bps and Net NPAs is 0.49% improved by 21 bps of the Outstanding Loan Book
  • ·         The Company has diversified borrowings. 87% of our borrowings are from Term Loans, Assignment, NHB Refinancing and Cash Credit. Only 13% of our borrowings are from debt capital market with no borrowings by way of Commercial Papers
  • ·         The Company continues to maintain positive ALM across tenors & has strong liquidity of ~ Rs. 17,400 Mn as on 31st December 2018

 

Key Performance Metrics for Q3FY19:

Particulars (Rs. Mn)

Q3FY19

Q3FY18

Y-o-Y PY

Q2FY19

Q-o-Q CY

Disbursements

7,106

5,159

38%

5,788

23%

PAT

563

259

117%

353

59%

 

 

Commenting on the performance Mr. Sushil Kumar Agarwal, CEO said, “Last few months have been very challenging for the entire industry. There has been decline in business across various housing finance companies. Our Company worked diligently to mitigate the headwinds and has reported high disbursement growth in Q3FY19 of 38% Y-o-Y PY & 23% Q-o-Q CY while maintaining best-in-class asset quality with GNPA of 0.58% as on 31st December 2018.

 

We successfully raised funds through a maiden issue of Rupee denominated Masala bonds of Rs.2,000 Mn with CDC Group (UK’s Development Finance Institution) and NHB Refinance assistance of Rs.5,000 Mn. Such long-term investment commitment especially in the current liquidity scenario demonstrates their trust on us.

 

The current liquidity position will allow us to continue our growth trajectory over the year.

 

Our ratings continue to be A+ for Long-term credit from CRISIL, CARE & ICRA and A1+ for Short-term credit from ICRA & CARE.

 

Our strategy of focusing on funding of purchase and construction of single unit dwellings of small average ticket size for self-occupation is playing out well. We continue in our endeavor to service the customers in the segment of sub Rs. 1 Mn average ticket size along with good asset quality.

 

At Aavas, we continue to reaffirm our commitment to deliver a sustainable long-term business and earnings growth by leveraging our key enablers – Technology & Data Analytics, 100% in-house sourcing model and high qualified and professional team.”

 

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