RELIANCE HOME FINANCE REPORTS ROBUST PROFITABILITY IN Q3FY18

RELIANCE HOME FINANCE REPORTS ROBUST PROFITABILITY IN Q3FY18

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Reliance home finance

Reliance Home Finance Ltd. (RHFL), a subsidiary of Reliance Capital Ltd., announced its financial results for the quarter ended December 31, 2017. The key performance highlights are:

  • Profit after Tax was Rs. 46 crore (US$ 7 million) – a YoY increase of 102%
  • Total income was Rs. 421 crore (US$ 66 million) – a YoY increase of 56%
  • Cost-to-income ratio improved from 51% in Q2FY17 to 39% in Q3FY18
  • Disbursements were Rs. 1,628 crore (US$ 254 million) – a YoY increase of 35%
  • As on December 31, 2017, the assets under management stood at Rs. 14,862 crore (US$ 2.3 billion) – a YoY increase of 54%. The assets are spread across more than 100 locations
  • Gross NPA ratio improved from 1.1% to 0.8% as on December 31, 2017

Ravindra Sudhalkar, ED & CEO, Reliance Home Finance said, “Q3 has been very robust for Reliance Home Finance on all parameters. Macro environment is extremely favorable for funding affordable housing segment, which we will grow at an accelerated pace. In addition to the growth in business through the online channel, with 6 new branches (including 2 affordable home loan branches) and 24 new branches in FY19, we will be present in more than 200 locations through our 75 branches”

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