Home First Finance Company has reported a 27% year on year increase in profit to Rs. 88 crores in the first quarter of this fiscal against Rs. 69 crore profit a year ago.
Their non performing assets, or bad loans stood at 1.7%, unchanged from the previous quarter and is expected to continue at similar levels in the future.
Its assets under management grew 35% on year to Rs. 10,478 crores, while loan disbursement grew 30% on year to Rs. 1,163 crores. About 86% of its portfolio comprises housing loans with average ticket size of Rs 11.6 lakh.
“We have increased presence in 4 new districts taking the total coverage to 135 districts. The company plans to open 20-25 new physical branches in this financial year”, said Manoj Viswanathan, Managing Director at Home First Finance.
Home First Finance now has a total of 133 branches across 13 states in the country.
Source Homevior.in
