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Homefirst Finance net rises 28% on higher loan sales

Its gross bad loan ratio came down 80 basis points to 1.8 while net NPA (non-performing asset) ratio improved by 10 basis points to 1.9.

January 24, 2023 / 08:10 PM IST
Manoj Viswanathan, managing director of Homefirst Finance, said the reporting quarter saw the momentum continuing on disbursements, which jumped 37 per cent to Rs 780 crore, making it the highest quarterly loan sales.

Manoj Viswanathan, managing director of Homefirst Finance, said the reporting quarter saw the momentum continuing on disbursements, which jumped 37 per cent to Rs 780 crore, making it the highest quarterly loan sales.

Affordable housing-focused Homefirst Finance Company on January 24 reported a 27.9 per cent growth in net income at Rs 58.7 crore in the quarter ended December 2022.

The company said its loan book rose to Rs 6,751 crore on a quarterly disbursal of Rs 780 crore, up 37 per cent.

Its gross bad loan ratio came down 80 basis points to 1.8 while net NPA (non-performing asset) ratio improved by 10 basis points to 1.9.

Manoj Viswanathan, managing director of Homefirst Finance, said the reporting quarter saw the momentum continuing on disbursements, which jumped 37 per cent to Rs 780 crore, making it the highest quarterly loan sales.