INSUBCONTINENT EXCLUSIVE:
Indiabulls Housing Finance rallied over 5 per cent early on Friday as the company reported a 30 per cent jump in net profit for the first
Profit stood at Rs 1,054.7 crore in April-June, driven by healthy loan growth
The corresponding figure was Rs 809.5 crore in the same period last year.
Its loan book rose 33.4 per cent to Rs 1,25,962.9 crore in the
reporting quarter, from Rs 94,450.7 crore a year earlier
Total disbursal grew 47.7 per cent YoY at Rs 10,044.2 crore.
Net interest income (NII) was up by 22.1 per cent at Rs 1,690 crore, from Rs
It also raised target price for the shares to Rs 1,700, from Rs 1,650 before
AUM grew 33 per cent with retail loans growing more than two times the industry average
It believed that growth in FY19 should remain strong and sees no major stress build-up.
