Housing finance company Can Fin Homes is expecting its non-performing assets (NPAs) to rise marginally in the third and fourth quarters of the financial year, said Girish Kousgi, MD & CEO of the company.
“If you look at asset quality - it is pretty stable in the last three quarters. Moratorium, no moratorium, COVID, no COVID... I think really had no real impact on the asset quality till Q1. Even Q2 is going to be pretty good for us. In Q3 NPAs will surge by a marginal extent and Q4 - it will further go up. So basically, another two quarters is when we need to be very closely watching the NPAs, but we don’t see any significant jump in NPAs," said Kousgi, in an interview with CNBC-TV18.
On Q1 performance, he said the company had a good quarter and that with every passing month, the demand saw an increase in numbers."Obviously, June was better than May and July obviously was better than June. So with every passing month, demand saw a slight increase in the numbers, but it is still not back to the original levels. In the affordable space, we see demand slowly coming back.”