On Friday, the shares of India’s third-largest housing finance company rose 7.5 percent to Rs 170 per share after the company repaid USD 275 million of external borrowings.
At 12:40 p.m., On the National Stock Exchange, Indiabulls Housing Finance Ltd shares were trading at Rs 167.65 a share, up Rs 9 or 5.70 percent, with a market value of Rs 7,906 crores.
According to the company’s BSE report, Indiabulls Housing Finance Limited has repaid USD 275 million or Rs 2,232 crores of external borrowings received in 2018 from ANZ Banking Group, Barclays Bank Plc, and State Bank of India, bringing to an end a deleveraging process the company started after IL&FS had foundered in 2018.
Indiabulls Housing Finance Ltd’s revenue has decreased by 8 percent yearly, from Rs 2,075 crore in Q1FY23 to Rs 1,900 crore in Q1FY24. During the same period, net profit climbed by 3 percent, from Rs 286 crore to Rs 294 crore.
The company stock has delivered a 69 percent return in six months and a 24 percent return last year. The operating margin of the company was reported to be 83.03 percent, while the net profit margin was reported to be 12.95 percent.
As per the latest shareholding pattern, Foreign institutional investors own 18.53 percent, domestic institutional investors hold 16.13 percent, while retail investors hold 60.46 percent of the company.
Indiabulls Housing Finance Ltd is engaged in the business of providing home loans and loans against property. It also provides corporate mortgage loans – lease rental discounting and residential construction finance.
Written by Omkar Chitnis
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