One of the leading housing finance company stock rose by 7% to its 52-week high of ₹1058.8 per share from its previous close of ₹982 after the company announced its Quarterly result and investor presentation.
In the exchange filing, Home First Finance Company India Ltd announced its third quarter financial results and the investor presentation.
The company’s net revenue has increased 44% YoY from ₹205 to ₹296, on a QoQ basis their revenue rose by 8.4% from ₹273. Additionally, the net profit of the company rose by 33% YoY from ₹59 to ₹79, on a QoQ basis their profit spiked by 6.7% from ₹74.
Additionally, In Q3FY24, the company expanded to 123 branches in 13 states/UTs and 305 touchpoints. Disbursements totaled ₹1,007 Crs, representing a 29.1% YoY increase. AUM increased to ₹9,014 Crs, with housing loans accounting for 86%.
Asset quality remained stable, with gross non-performing assets (GNPA) of 1.7%. Provisions totaled Rs 68 crore, with a GNPA to total provision coverage ratio of 52.4%.
Total Capital to Risk Assets Ratio (CRAR) was 40.9%, and the Q3FY24 financial performance showed growth in total income, pre-provision operating profit (PPOP), and PAT, according to the filing.
Home First Finance Company India Ltd is a small-cap company with a market capitalization of ₹8,900 crores, the share price of the company rose 25% in the last six months and 37% in the last year.
The company has a return on equity of 13%, a return on capital employed of 10%, and a net profit margin of 28%.
The promoters of the company own 30.19% of the stock, the general public owns 44.46%, foreign institutional investors own 17.02%, and domestic institutional investors own 8.33%.
Home First Finance Company India Limited operates in the housing finance industry in India. The Company’s primary business is lending housing loans, loans for the purchase of commercial property, loans against property, and construction financing.
Written by Sriram KV
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