It has been a good quarter for Indiabulls Housing Finance with the highest ever loan growth. In an interview to CNBC-TV18, Gagan Banga, Vice Chairman & Managing Director, Indiabulls Housing Finance spoke about the results and his outlook for the company.
98 percent of our loan against property (LAP) portfolio is again self-occupied residential houses. So there is no lending, which is done against bare plots, he said.
Net interest margins (NIMs) for the company has remained stable and is at the higher end of the range. Pricing in the industry for home loans has been very stable, he added.
Pricing for home loan segment at an industry level has been stable, said Banga.
Every time that we raised money through bond as against a bank, term loan we save 100 basis points (bps). We will continue to save on our cost of funds slightly ahead of the market, he further mentioned.
76 percent of the home loan market is now below Rs 25 lakh and our average ticket size as a company for home loans is Rs 24 lakh, he said.
Our expectation is that for our home loan segment, we will continue to grow at between 35 percent and 40 percent. For the full year, the overall book will grow by around 30-31 percent and home loan specifically will grow between 35 percent and 40 percent, said Banga.
For full interview, watch accompanying video...
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