April 2021 is looking much better year-on-year (YoY) and we expect more stability hereon, said Gagan Banga, vice chairman & managing director of Indiabulls Housing Finance, on Thursday.
CRISIL has upgraded the rating outlook for Indiabulls Housing to stable and this is the first rating upgrade for the company in two years.
Speaking to CNBC-TV18, Banga said, “There is a lot of work to be done as far as collections etc., is concerned and we have to very careful, but businesses are still seeing an upswing. We are certainly in a better place as compared to April 2020. Therefore, overall I imagine that the stability in the situation should only keep getting better from here.”
“The asset-light model is now stabilized and is now starting to scale up. The liquidity buffers are strong and that is what CRISIL has appreciated. The other good thing is that the macro continues to be extremely favourable. Home sales continue to inch up through the month of March and the government continues to support the MSME sector, which is the large employer,” he said.
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