Grihum Housing Finance Ltd Highest Ever Yearly PAT Of Rs 140 Cr

BY Realty Plus

Grihum Housing Finance Limited (formerly Poonawalla Housing Finance Limited) has posted a strong performance for Q4 and FY24.

The Company delivered its highest ever organic disbursement of Rs 2,914 Cr for FY24, up 26% YoY, reaffirming its commitment to assisting self-made individuals (SMIs) nationwide in fulfilling their dream of home ownership. Also, it registered its highest ever yearly PAT of Rs 140 crore, jumping 21% YoY and Rs 46 crore for the quarter, up by 24% QoQ.

The Company attributed its improved organic disbursements to four factors. The scale of business increased due to expansion of distribution and sourcing channels. Twenty-eight branches were added in FY24, taking the total number of Grihum’s branches nationally to 210. Next, Grihum focussed on key markets through direct and digital sourcing. Finally, the Company invested into frontline business teams throughout the year.

Grihum’s Asset Under Management (AUM) stands at Rs 8,277 Cr, a 32% jump YoY and 9% QoQ. Asset Quality remained stable with a Gross NPA ratio at 0.95% and Net NPA at 0.56%. The Company has been delivering AUM growth in the range of 30% quarter on quarter.

The Company’s revenue grew by 46% YoY and 7% QoQ, totalling up to Rs 1,046 Cr for the year and Rs 290 Cr for the quarter. Net Interest Margin (NIM) was at 8.3%, while the efficient liability franchise had an average CoB of 8.1% for FY24 with more than 30 liability relationships, including large Mutual Funds.

Grihum raised fresh equity of Rs 1,038 Cr during FY24 and its net worth has risen to Rs 2,390 Cr, up by 98% YoY and 30% QoQ. Its Capital Adequacy Ratio stood at 47.31% while the liquidity buffer is Rs 2,443 Cr.

The capital was raised in two tranches during the year from TPG, which has strengthened Grihum’s balance sheet and led to the moderation of leverage ratio to 2.4x. This provides the Company headroom for growth for the next 24-36 months without any fresh capital requirements in the business. The funds have helped Grihum focus on digital transformation to bring further efficiency in its business operations.

"Grihum has significantly advanced over the past five years, solidifying its presence in peri-urban, semi-urban, and rural India. Our relentless commitment to assisting customers in achieving their dream of home ownership has led to transformative impacts and dignified living. With a steadfast focus on this mission, we've achieved an impressive 30% growth CAGR, establishing ourselves as a national-scale AHFC, serving over 77,000 customers. Beyond our core operations, we actively collaborate with regulators and financial institutions to shape inclusive and affordable housing finance processes. Fuelled by a resilient liability framework, Grihum remains dedicated to serving lower-income segments with humility and trust, aligning with the Government of India's 'Housing for all' initiative. Our ultimate goal is to make homeownership a reality for every individual." said Mr. Manish Jaiswal, Managing Director, and Chief Executive Officer of Grihum Housing Finance Limited, underscoring the Company’s unwavering commitment to this transformative cause.

Tags : Grihum Housing Finance FY24 Asset Under Management Manish Jaiswal revenue liability digital transformation funds