Ravindra Sudhalkar, Executive Director and Chief Executive Officer of Reliance Home Finance, speaks to CNBC-TV18, says expect margins to stabilise at 3.6% in next year.
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Speaking on disbursements and asset under management (AUM) growth, he said, "Looking at the impetus that central government had on affordable housing, we clearly see affordable housing growing at a rate of more than 30% and that is the sector in which Reliance Home Finance has been keenly focusing on."
"If you look at the last entire year, it was an exceedingly good year for all of us at Reliance Home Finance. We saw the total income going up by 47%, the AUM were also quite robust and gone up by 46% to cross Rs 16,300 crore mark on the AUM. Overall, net interest margin are at 3.9% and it is important to note that the NIMs have been fairly stable for the last four quarters," Sudhalkar said.
He further added, "The cost to income ratio saw significant reduction from a level of 55% to a level of 38% on account of increased operational efficiencies."
"Non performing assets were stable at 0.8% and on the profit before tax, we saw 96% increase in the profit before tax, taking it to a level of about Rs 270 crore. So, it was a great year for us at Reliance Home Finance. Return on equity is 15.1% for us. We expect to continue this growth momentum in the coming year," he said.