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Indiabulls Housing Finance’s net profit for the second quarter of this fiscal fell 54.44 per cent to ₹323.20 crore against ₹709.52 crore in the same period a year ago.
For the quarter ended September 30, 2020, its total revenue from operations was down at ₹2,533.66 crore versus ₹3,480.49 crore a year ago.
“On balance sheet loan book stands at ₹72,791 crore. Loan book will start growing from here on as per the company’s business plan of on balance sheet growth and sell down toand co-origination with banks,” it said in a statement on Wednesday, adding that it plans to open 50 new branches in tier-III and IV locations in the next 12 months.
Its capital adequacy stands at 31.4 per cent with Tier I capital at 24.4 per cent as on September 30, 2020.
Gross NPA was at 1.98 per cent, and without the Supreme Court’s dispensation, it would be 2.21 per cent.
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