Home First Finance Company India Announced Q1FY23 Result : AUM grows by ~36% YoY to reach INR 5832 Crs in Jun’22. Business momentum continues with highest ever quarterly disbursals of INR 661 Crs. Asset quality improves further. GNPA reduced by 20bps (QoQ basis) to 2.1% as of Jun’22 Gross Stage 3 / POS (GNPA %) 2.1 - 20 bps In line with RBI circular dated 12 Nov 2021, 1.2% prior to such classification Commenting on the performance Mr.Manoj Viswanathan, MD & CEO said, “HomeFirst continues with the growth momentum in Q1FY23. AUM grew by 8.4% on QoQ and 35.8% on YoY basis, disbursements grew by 3.1% on QoQ basis. PAT grew by 46.0% on YoY basis. We have expanded our footprint by adding 13 new physical branches and increased our touchpoints from 200 in Mar’22 to 224 in Jun’22. This is in-line with our aim to increase our presence in large affordable housing finance markets. We are pleased to report that during the quarter, we have done the first transaction under the co-lending tie-up. During the quarter, we received an rating upgrade on long term credit facilities by ICRA (from A+ Positive to AAStable) and Care Rating (from A+ Stable to AA- Stable). This is in addition to AA- Stable rating assigned by India Ratings on our long term credit facilities in Mar’22. This endorses HomeFirst’s strong financial profile along with its ability to maintain adequate liquidity and exhibit efficient capital management. Amidst the tough environment, we have added 2 new banks i.e. South Indian Bank and Qatar National Bank to diversify our borrowing fund sources. Improvement in asset quality continues across all buckets. Bounce rates improved in Jul’22 to 13.5% (Q1 FY23 – 14.0%, Q4 FY22 – 14.5%). 1+ DPD improved from 5.3% to 5.0% on QoQ basis. 30+ DPD improved from 3.7% to 3.5% on QoQ basis. Our Gross Stage 3 (GNPA) as per RBI circular dated 12 Nov 2021, improved from 2.3% to 2.1% on QoQ basis. Prior to such classification, it stands at 1.2% (Mar’22: 1.3%). During Q1FY23, our PAT at INR 51 Crs witnessed growth of 46.0% on YoY basis and ROE improved by 30 bps to 12.8% over Q4FY22. Digital adoption has further improved. Usage of the customer app for various activities has increased. 84% of our customers are registered on our app as on Jun’22 compared to 80% in Mar’22. Payments received via the app have gone up by 82% YoY. Overall, Q1 FY23 was a good quarter and within our expectation. With the tailwinds of the sector coupled with overall economic growth and a strong execution mindset, we will continue to deliver excellent results while staying true to our mission of being the Fastest Provider of Home Finance for the Aspiring Middle Class, delivered with Ease and Transparency. “ Result PDF
Conference Call with Home First Finance Company India Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Home First Finance Company India declares Q3FY22 result: HomeFirst reports highest ever disbursals of INR 570 Crs in Q3 AUM crosses INR 5000 Crs in Jan 2022 Q3 FY22 Total Income at INR 152 Crs; YoY growth of 38% from INR 110 Crs in Q3 FY21, sequential increase of 3.8% over Q2 FY22 of INR 146 Crs. PPOP stands at Rs 65 Crs, growth of 9.2% on QoQ basis and 127.7% on YoY basis. Q3 FY22 PAT at INR 46 Crs, sequentially up by 6.6% from INR 45 Crs in Q2 FY22. ROA at 4.0% improved by 230bps on YoY basis and 30bps on QoQ basis. Result PDF