India Shelter Finance Corporation Q4 Results: Net profit soars 47% YoY to Rs 78 crore

Kolkata: India Shelter Finance Corporation has reported a 47% jump in March quarter net profit to Rs 78 crore against Rs 53 crore in the year ago period, backed by 40% business expansion.

The mortgage lender, which got its shares listed on December 20 last year, said its assets under management rose to Rs 6084 crore at the end of March. The company, which is active in the affordable housing space, operates out of 223 branches in 15 states.

“Our margins remained in line with our guidance for the medium term at 6%,” managing director Rupinder Singh said.

“As we look ahead, we remain determined to pursue providing affordable housing solutions and empowering the underserved segments of our society,” he said.

The lender’s gross non-performing assets marginally improved to 1% at the end of March from 1.1% a year ago.