Latest news with #Jaipur-headquartered
Time of India
19-07-2025
- Business
- Time of India
AU Small Finance Bank Q1 results: Net profit rises 16% to Rs 581 crore; gross NPAs increase to 2.47%
AU Small Finance Bank on Saturday reported a 16% year-on-year increase in its net profit to Rs 581 crore for the first quarter of FY26, up from Rs 503 crore in the same period last year. The Jaipur-headquartered lender posted growth in both income and profitability, though asset quality weakened during the quarter. Total income for Q1FY26 rose to Rs 5,189 crore from Rs 4,278 crore a year earlier. Interest earned increased to Rs 4,378 crore from Rs 3,769 crore, while net interest income climbed to Rs 2,045 crore from Rs 1,921 crore, PTI reported. Operating profit for the quarter stood at Rs 1,312 crore, up from Rs 952 crore in the corresponding quarter of the previous year. Gross non-performing assets (NPAs) increased to 2.47% of gross advances as of June 30, 2025, compared to 1.78% a year earlier. Net NPAs also rose to 0.88% from 0.63%. As a result, provisions and contingencies surged to Rs 533 crore, nearly double the Rs 283 crore reported in the year-ago period. The bank's Provision Coverage Ratio (PCR) stood at 83% at the end of the June quarter. AU Small Finance Bank's gross loan portfolio rose 18% year-on-year to Rs 1,17,624 crore, compared to Rs 99,792 crore in Q1FY25. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo However, the capital adequacy ratio dipped to 19.42% from 20.11% a year ago. Commenting on the results, MD and CEO Sanjay Agarwal said, 'We have reported another set of consistent performance in a seasonally soft quarter, showing sustainable growth in deposits, assets, and profitability.' He added that as the economic cycle strengthens, the bank remains well-positioned to navigate near-term uncertainties while pursuing its long-term vision of building a scalable and sustainable institution. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
28-05-2025
- Business
- Time of India
AU Small Finance Bank buys commercial tower in Mumbai's Bandra for ₹371 crore
AU Small Finance Bank has acquired an entire commercial tower on western express highway in Mumbai 's Bandra locality for more than Rs 371 crore from realty developer Earth Worth Constructions making it the largest outright office deal by any financial institution this year. The Jaipur-headquartered bank has purchased the 11-storey property with two basements spread over 74,577 sq ft to set up its corporate office in Mumbai. The emerging private lender has paid stamp duty worth Rs 22.26 crore for the deal at the time of registration on Tuesday, showed the documents accessed by ET. The property was previously occupied by agriculture products and solutions provider UPL Ltd-- formerly known as United Prosperous--through a long-term lease spanning over 10 years. The company vacated the property last year after the lease term ended. The standalone commercial tower has a total of 98 car parking slots across its two basements. The outright deal assumes significance in the backdrop of most financial institutions picking up office spaces through long-term leases. ET's separate email queries to AU Small Finance Bank and Earth Worth Constructions remained unanswered until the time of going to press. For the year ended March, the listed bank has reported 32% on-year growth in net profit at Rs 2,106 crore. The bank has a network of over 2,456 banking touch points across 21 states and four union territories and has a workforce of over 50,900 employees. The Indian office property market has experienced remarkable growth in recent years, fuelled by a robust economy and increasing demand from both domestic and international companies. This growth can be attributed to several factors, including a steady rise in economic activity, the expansion of multinational corporations into India, and the thriving startup ecosystem. Additionally, the country's growing prominence as a global outsourcing hub and its large talent pool have further boosted the need for high-quality office spaces in key metropolitan cities and emerging business hubs.
