Pune (Voice news service):-Commenting on the performance Mr. Manoj Viswanathan, MD & CEO said, “We are pleased with the company’s strong performance during the quarter. We continue to expand deeper into our existing markets with the addition of 9 branches and 8 touch points in Q2 taking the total branch count to 142 branches and touch point count to 351 touch points across 138 districts in 13 states/UTs. Disbursements grew by 22.7% y-o-y, to an all time high of 1,177 Cr resulting in an AUM of Rs. 11,229 Cr with a growth of 34.2% y-o-y. Employee strength has grown from 1249 in Mar’24 to 1642 in Sep’24 with the objective of driving further expansion.
Our funding channels have expanded well with addition of 2 banks in Q2 and a first drawdown has been completed; out of the sanctioned USD 75 million from US Development Finance Corporation (DFC). The DFC proceeds will be utilized to provide affordable housing and mortgage financing to women borrowers thereby advancing gender equity in India.
Spreads ex-co-lending moved up to 5.3% (+10bps q-o-q) as a result of increase in PLR effective 1st August. PAT at Rs. 92 Cr grew by 24.1% y-o-y leading to ROA of 3.4%. We achieved an ROE of 16.5% in this quarter. The continued improvement in our return on equity reflects our focus on sustainable growth, operational efficiency and strong credit quality.
Our asset quality continues to be strong with a focus on early delinquencies.
- 1+ DPD is at 4.5% (flat on q-o-q basis).
- 30+ DPD at 2.8% (decrease of 10 bps on q-o-q basis).
- Gross Stage 3 (GNPA) is at 1.7% (flat on q-o-q). Prior to RBI classification circular of Nov’21, it stands at 1.3%.
- Our credit cost at 20bps (decreased by 20 bps on y-o-y and remained flat on q-o-q basis). We continue to maintain our conservative credit cost guidance of 30 to 40 bps.
