The board of Lakshmi Vilas Bank on April 12 approved the merger with Indiabulls Housing Finance.
Gagan Banga, Managing Director of Indiabulls Housing Finance, said the company has taken some small developers to the NCLT.
In an interview with CNBC-TV18, Gagan Banga, Vice Chairman and MD of Indiabulls Housing Finance discussed his business outlook.
Expect government to continue with its thrust on affordable housing and in that regards give more tax breaks in Budget 2018, said Gagan Banga, VC & MD, Indiabulls Housing Finance.
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.
Gagan Banga, Vice Chairman & Managing Director, Indiabulls Housing Finance said the slow growth seen for the industry is because of RERA and GST coming in the first quarter of this fiscal.
the company has been able to maintain their GNPAs at 85 basis points for the last three year and as of now, there is no concern on existing books, said Gagan Banga, VC & MD, Indiabulls Housing Finance.
Historically home loans have been priced between 150 basis points (bps) and 200 bps higher than government securities, even now they are priced in pretty much the same range, Gagan Banga, VC & MD of Indiabulls Housing Finance told CNBC-TV18.
In an interview to CNBC-TV18, Ashwini Kumar Hooda, Deputy MD of Indiabulls Housing Finance spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, Gagan Banga, VC & MD of Indiabulls Housing Finance said that the good thing about CLSS is that there is no cap on the value of the house.
Gagan Banga of Indiabulls Housing Finance told CNBC-TV18 he expected roughly Rs 60,000 crore of additional funds to come the way of the top rated housing finance companies from this move.
Speaking to CNBC-TV18 Gagan Banga, VC & MD, Indiabulls Housing Finance, said that tier II and tier-III cities, outskirts of major cities will be covered under the new scheme announced by the PM in his speech on the new year eve.
Indiabulls Housing Finance has also guided for 25-30 profit growth in FY17, a considerable rise from the earlier 23 percent.
Indiabulls has a balance sheet size of Rs 91,000 crore, of which around 25 percent is cash balance. Banga expects the balance sheet size to rise to Rs 1 lakh crore by the end of current fiscal.
In an interview with CNBC-TV18, Gagan Banga, VC and MD of the company said that it has been able to reduce the cost of funds successfully and expects to increase its market share in the home loan segment.
Gagan Banga, Vice Chairman of Indiabulls Housing Finance says that the company is trying to initiate product mix change.
Gagan Banga, Vice Chairman and MD of Indiabulls said that the company will be a benefit from this revision in limits as it is not dependent on commercial paper.
The company is aiming for a 20-25 percent growth in all parameters, Gagan Banga, Vice-Chairman& MD said adding that he expects net interest income and profit after tax to grow in range of 22-25 percent in FY16 and FY17.
Gagan Banga, Vice Chairman & Managing Director, Indiabulls Housing Finance said the acquired UK-based company would be a deposit taking franchise and that the financial impact will only be 1 percent of the total balance sheet.
The mortgage player reported a 23.93 percent jump in consolidated net profit to Rs 555.53 crore for the second quarter ended September 30, 2015-16.
The QIP has taken the capital adequacy ratio of the company to 23-24 percent as of September 30, said Gagan Banga, VC & MD, Indiabulls Housing Finance.
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The segment of home loans between Rs 25-30 lakh category have shown good traction compared to the high ticket category of above Rs 1 crore, says Gagan Banga, VC&MD, Indiabulls Housing Finance.
Gagan Banga, vice chairman and managing director, Indiabulls Housing Finance says the company will continue to focus on opening branches in cities they are already present.
In an interview to CNBC-TV18, Gagan Banga, VC & MD of Indiabulls Housing Finance, discusses the company‘s performance this quarter.