Aadhar Housing Finance Ltd, announced its financial results for the quarter ended 30th June 2024. With a stellar first quarter performance, the Company is poised for a strong growth year ahead.
Commenting on the Q1 FY25 performance, Rishi Anand, MD & CEO of Aadhar Housing Finance Ltd said, “We ended this quarter on a high note by making significant growth in this dynamic market with a strong focus on making housing finance solutions accessible and affordable for EWS and LIG segment of society. With an AUM of INR 21,726 Cr, marking a significant growth of 21 % YoY, we continue to be the largest low-income housing finance company in the country. Our Profit after tax has grown 37% YoY basis.
The proposed budgetary announcements will provide further impetus to overall business growth as the suggestion to construct 3 crore additional houses in rural and urban areas and interest subsidy to borrowers will have long-term positive impact on the affordable housing sector. Our distribution network has been our core strength which differentiates us from others with a total 536 branches spread across 544 districts in 21 states. This quarter we have added 13 new branches and ventured into a new state, Himachal Pradesh.
With the increasing no of touchpoints, we are now serving more than 274k+ live accounts in the country. However, to enhance our market penetration even further and to go deeper into low-income segment, we are planning to increase our reach with deeper impact strategy. Deeper Impact will help us reach out to Tier 4 and beyond to small talukas and small district headquarters.”
