Indiabulls Housing Finance’s net profit falls 65% to Rs 273 cr for Q1FY21

New Delhi: Indiabulls Housing Finance’s  net profit fell 65 percent to Rs 273 crore for the first quarter of the current fiscal as compared to Rs 790 crore in the corresponding quarter of the previous financial year.

The revenue from operations of the company declined 34 percent to Rs 2,575 crore for the first quarter of the current fiscal as compared to Rs 3,885 crore in the corresponding quarter of the previous financial year.

The company is aiming for a 12 percent jump in Assets under management (AUM), it said in a statement.

The AUMs of the company will witness a health growth in the second half of the current fiscal, it said. It also plans to increase the balance sheet by 7-8 percent in the ongoing fiscal.

On a total loan assets of the company of Rs 92,770 crore, the loan assets in the loan stage 1 and 2 are Rs 90,728 crore.

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