Poonawalla Fincorp on Tuesday said its assets under management (AUM) grew 17 percent year-on-year to Rs 16,575 crore at the end of the quarter ended March 31, 2022. The AUM growth was 9 percent quarter-on-quarter.
The assets under management for the housing finance subsidiary Poonawalla Housing Finance Limited crossed the Rs 5,000 crore milestone, the company said in a release.
"Q4 FY22 witnessed significant improvement in organic disbursements across all products. Company's disbursements for Q4 FY22 were approximately Rs 3,330 crore and for FY22, they stood at Rs 9,490 crore," Poonawalla Fincorp said.
The company said it expects the positive trend to continue in the coming quarters, supported by a change in the product mix and the momentum gained on the distribution pillars of direct, digital, and partnerships.
"The gains in collections have led to a significant improvement in March 2022 asset quality metrics of gross stage 3 (gross NPAs) over March 2021. It expects the net stage below 1.20 percent and gross stage 3 below 3 percent as of 31st March 2022; in line with the management vision 2025 to bring down Net Stage 3 below 1 percent," it added.
The capital to risk-weighted assets ratio (CRAR) was more than 49 percent as of March 31, 2022.
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