SHFL Asset Under Management Crosses Rs 10,000 Cr In H1 FY24

Shriram Housing Finance's Asset Under Management (AUM) crossed Rs 10,000 crore, with the company ending H1 with AUM of Rs 10,816 crore for H1 FY24. 

The disbursals for the first half of the year stood at Rs 3,591 crore, up 95 per cent year on year(YoY). The company has maintained a growth momentum with AUM doubling over the last 18 months, coupled with improvement in asset quality.

Asset quality improved with Gross Stage-3 assets at 1.08 per cent (including RBI circular dated 12 November 2021), a 44 bps YoY improvement. Net Interest Margins(NIM) in H1 FY24 also improved by 65 bps YoY to 7.7 per cent. Profit After Tax(PAT) for H1 FY24 stood at Rs 93.9 crore, a growth of 46 per cent YoY.

The company also added over 1200 employees during the first half of the current fiscal year. The total employee strength now stands at over 3000. The company is receiving over 95 per cent of its application through digital customer onboarding facilitated via its inhouse onboarding app - GrihaPoorti.

“A buoyancy in Home Loan demand in the segment has led us to expand our distribution network across the Tier 2/3 locations. We would continue our investment in scaling up the branch network during the course of the year.  Our AUM has doubled over the last 18 months, with our portfolio quality being amongst the best in the industry. We would continue to build our businesses at the same pace with clear focus on risk controls," said Ravi Subramanian, MD & CEO, Shriram Housing Finance.