Reliance Cap to list housing finance biz by April 2017

Reliance Capital reported a steady second quarter with a 16.3 percent rise in total income to Rs 4,690 crore while the net profit grew 1.2 percent to Rs 253 crore. Speaking to CNBC-TV18, Sam Ghosh, ED & Group CEO of the company, said: "In the next one or two quarters NPA levels again come down to 3.2-3.3 percent.”The company is gradually trying to balance its business mix. It is adding more power products into the business. It currently has 25 percent power business and the balance is unit-linked business. “Our intention is to list the housing finance business, which today is a 100 percent owned subsidiary of Reliance Capital,” he said, adding that Reliance Capital will hold 51 percent share and the rest 49 percent will be given to existing shareholders only. Listing is expected to be completed by April 2017.Watch video for more..