Conference Call with Bajaj Housing Finance Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Housing Finance company Bajaj Housing Finance announced Q2FY25 results Assets under management grew by 26% to Rs 1,02,569 crore as of Q2FY25 from 2,81,215 crore as of Q2FY24. Net interest income, for Q2FY25 increased by 13% to Rs 713 crore from Rs 632 crore in Q2FY24. Net total income for Q2FY25 increased by 18% to Rs 897 crore from & 761 crore in Q2FY24. Operating Expenses to Net Total Income for Q2FY25 was 20.5% as against 22.1% in Q2FY24. Loan losses and provisions for Q2FY25 was Rs 5 crore as against Rs 18 crore in Q2FY24. BHFL holds a management and macro economic overlay of Rs 44 crore as of Q2FY25. Profit before tax for Q2FY25 increased by 23% to Rs 708 crore from Rs 575 crore in Q2FY24. Profit after tax for Q2FY25 increased by 21% to Rs 546 crore from Rs 451 crore in Q2FY24. Gross NPA and Net NPA as of Q2FY25 stood at 0.29% and 0.12% respectively, as against 0.24% and 0.09% as of Q2FY24. Provisioning coverage ratio on stage 3 assets at 58% . Annualized return on average assets for Q2FY25 was 2.5% as against 2.6% in Q2 FY24. Annualized return on average equity for Q2FY25 was 13.0% as against 16.1% in Q2 FY24. Capital adequacy ratio (including Tier-II capital) as of Q2FY25 was 28.98%. BHFL enjoys the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL and India Ratings and Al+ for short-term debt programme from CRISIL and India Ratings. The Company has made an Initial Public Offer (IPO), during the period ended Q2FY25 for 93,71,42,856 equity shares of Rs 10 each, comprising a fresh issue of 50,85,71,428 equity shares of the Company and 42,85,71,428 equity shares offered for sale by selling shareholders. The equity shares were issued at a price of Rs 70 per equity share (including a Share Premium of Rs 60 per equity share). Pursuant to the aforesaid allotment of equity shares, the issued, subscribed and paid-up capital of the Company stands increased to Rs 83,28,14,67,010 (8,32,81,46,701 Equity shares of Rs 10 each). The Company's equity shares got listed on National Stock Exchange of India Limited and on BSE Limited on 16 September 2024. Result PDF