Considering the Reserve Bank has lowered repo rate twice this year, Gagan Banga of Indiabulls Housing Finance expects comparative pressures to result in prime lending rates coming down by 25 basis points by March-end or early April.
Indiabulls Housing Finance posted a consolidated profit of Rs 478 crore, up 21 percent, as against Rs 395.1 crore on a year-on-year basis in its third quarter ended December.
The company reported a 21 percent growth at Rs 448.3 crore in net profit for the September quarter versus Rs 370.38 crore in the same period last year.
Speaking to CNBC-TV18, Gagan Banga, managing director & chief executive officer, Indiabulls Housing Finance says the the company‘s credit performance is robust keeping in mind the macro performance.
Indiabulls Housing Finance hopes to capitalise on the upcoming festive season to boost its performance. The housing finance entity is also hopeful to get a banking license too.
Gagan Banga, MD & CEO, Indiabulls Housing Finance told CNBC-TV18 that the management is clearly focused that it wants to pursue the home finance opportunity. However, in an ideal world after a few years we would want to migrate and progress to being a bank.