Home First Finance Q4 Results: Profit rises 25.4% YoY; AUM up 31%
Mortgage lender Home First Finance has reported a 25.4% year-on-year rise in fourth-quarter net profit to Rs 105 crore, up from Rs 83 crore in the same period last year, backed by a 31% expansion in assets under management to Rs 12,713 crore.
ADVERTISEMENT Its asset quality remained stable, with the gross non-performing assets ratio at 1.7%, with home loans contributing 84% of it.
The company's total income rose by 31% to Rs 416 crore.
It raised Rs 1,250 crore in April by selling equity shares through a qualified institutional placement, which helped increase net worth to Rs 3,751 crore.
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
27 minutes ago
- Time of India
GDA seeks central funds for Noida-Ghaziabad metro link
Ghaziabad: Ghaziabad Development Authority (GDA) has taken a fresh initiative to revive Noida Electronic City-Sahibabad metro project — an extension of the Blue Line metro corridor — by suggesting that it should be funded by grants made under 16th Finance Commission. A letter to this effect has been written to the state govt, seeking Rs 2,441 crore. GDA vice chairperson Atul Vats said on Monday, "We have written to UP govt. We have quoted a grant of Rs 2,441 crore, out of which Rs 1,873 crore is for the metro project." O ver 5 lakh people stand to benefit from the project, who for a long time have been demanding metro connectivity through Indirapuram, Vasundhara and Vaishali townships. Vats said, "In line with this, DMRC has also sent a proposal to the central govt for 16 metro corridors in the country, which include the 5km Noida Electronic City to Sahibabad metro corridor. We think that makes a strong case in favour of the said project because not only will it provide much-needed connectivity with Noida, but the corridor will also serve as an extended arm of the Namo Bharat corridor, which passes through Sahibabad. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo " As for alignment, the 5km route from Noida Electronic City metro station will have five stations on an elevated platform, which include Vaibhav Khand, DPS Indirapuram and Shakti Khand stations along CISF road, which falls under Indirapuram township. From Kanawani culvert, the route will enter Vasundhara and from passing through Vasundhara, it will end at Sahibabad. An additional two stations — Vasundhara Sector 5 and Sahibabad stations — will cater to the Vasundhara and Vaishali commuters. In the pipeline since 2018, Noida Electronic City to Sahibabad metro corridor could not take off in all these years due to a lack of funds. GDA, in the last seven years, suggested funding patterns, including the creation of a special purpose vehicle (SPV) and urging the central and state govt to fund the project, but all were turned down. In 2018, when the DPR was made, the cost of the project was estimated to be Rs 1,517 crore, which has now increased to Rs 1,873 crore. In a survey conducted last year, the land requirement for the proposed corridor will be 26,691 sqm, of which 7,690 sqm will be private land, which alone will cost Rs 223 crore. The Finance Commission, established under Article 280 of the Indian Constitution, is a constitutional body that recommends the distribution of tax revenues between the central and state govts every five years. Ghaziabad, like other districts, has been receiving grants annually.
India Gazette
29 minutes ago
- India Gazette
Himachal Pradesh becomes authorised govt recruiter for overseas employment
Shimla (Himachal Pradesh) [India], June 16 (ANI): In a significant development, the Ministry of External Affairs on Monday granted a Recruitment Agent License (RAL) to Himachal Pradesh State Electronics Development Corporation (HPSEDC). The license officially authorises the corporation to commence recruitment activities. The certificate empowers HPSEDC to recruit Indian workers for foreign employers, according to a release from Himachal Pradesh CMO. Himachal CM Sukhvinder Singh Sukhu stated that Himachal Pradesh has now joined the ranks of leading Indian states that facilitate overseas employment at the government level, rather than relying on private license holders, according to the release. 'This move will help prevent job seekers from being misled and paying the agents. This will ensure that they are provided with genuine employment opportunities abroad,' he said. 'The corporation will now be able to fully comply with international employment regulations,' he added. Earlier in the day, Himachal CM Sukhu, during his visit to the Una Assembly constituency, dedicated and laid the foundation stones of multiple development projects amounting to Rs. 25.79 crore, with a focus on strengthening education and infrastructure. According to an official release, the Chief Minister inaugurated the newly constructed building of Government Senior Secondary School (Boys), Una, built at a cost of 8.79 crore. The new facility will provide students with improved educational amenities and significantly enhance the academic environment. He also inaugurated a state-of-the-art academic block at the Government Degree College, Una, equipped with smart classrooms, modern laboratories, and administrative units constructed at a cost of Rs 12 crore. The Chief Minister also laid the foundation stone for a 'New Girls Hostel' to be constructed within the same campus at an estimated cost of Rs. 5 crore. The hostel will offer safe and convenient residential facilities for girl students, especially those coming from rural and remote areas, thereby making higher education more accessible to them. In his address, Sukhu said that from the next academic session, the Government Senior Secondary (Boys) School, Una, would be converted into a co-educational institution on CBSE pattern. The government schools have to come up to the present standards of other English medium convent schools and to realise this, English-medium teaching has been started from first class and 500 expert teachers in the subject were being recruited. Apart from this, 661 recruitments were being made for TGT arts, medical and non-medical posts, and 600 JBT recruitments would also be started soon. The Chief Minister said that the state government was establishing Rajiv Gandhi Government Model Day Boarding Schools in every Assembly constituency, with a budget provision of Rs. 200 crore this year. The schools would offer education from pre-primary to class 12 as per CBSE curriculum and would be equipped with high-tech smart classrooms, playgrounds, indoor stadiums, swimming pools and music rooms. He urged the youth to creatively use new technology and appealed to teachers to continually guide students so that the younger generation becomes capable, aware, and responsible. (ANI)
India Gazette
29 minutes ago
- India Gazette
"Heartfelt gratitude to PM Modi, Nitin Gadkari": Dy CM Diya Kumari on Rs 1,914 crore nod for 40 Rajasthan road projects
Jaipur (Rajasthan) [India], June 16 (ANI): Rajasthan Deputy Chief Minister Diya Kumari on Monday expressed gratitude to Prime Minister Narendra Modi and Union Road Transport and Highways Minister Nitin Gadkari for approving Rs 1,914.71 crore for 40 state road projects under the Central Road Infrastructure Fund (CRIF). The projects, covering a total length of 1,000.90 kilometres, aim to enhance road connectivity and travel efficiency across the state. The formal sanction of the projects is expected within the next couple of days. In addition to the CRIF funding, the Ministry of Road Transport and Highways has also sanctioned new highway projects worth approximately Rs 1394 crore for the construction of 104.49 kilometres of roadways. These include the development of a four-lane Nagaur Bypass (from Amarpura to Gogelav) and the four-lane Nagaur-Netra road section. Deputy CM Diya Kumari said that the Rs 1914.71 crore CRIF allocation would primarily be used to strengthen and widen various segments of state roads -- including 31 major district roads, 8 state highways, and 1 other district road -- across multiple regions. She emphasized that the aim is to ensure smoother transportation and enhanced road safety for commuters in the state. Taking to X, Diya Kumari said, 'Heartfelt gratitude to the illustrious Prime Minister Shri @narendramodi ji and the Honorable Union Highways Minister Shri @nitin_gadkari ji for approving 1914.71 crores for 40 state road projects of total length of 1000.90 km under Central Road Infrastructure Fund (CRIF) in Rajasthan.' She added, 'These projects mainly include strengthening and widening of sections of various state roads (31 major district roads, 8 state highways and 1 other district road). This will help in providing better road connectivity and seamless travel in various parts of Rajasthan.' (ANI)
