The time taken for implementation of RERA Act by various states will be different. So it could well be 6-9 months before it starts functioning properly, says Sudhin Choksey, MD, Gruh Finance.
In an interview to CNBC-TV18's Latha Venkatesh, Sonia Shenoy and Anuj Singhal, Harendra Kumar of Elara Capital shared his reading and outlook on the market and also gave recommendations on various stocks.
Speaking to CNBC-TV18 Anshula Kant, Deputy MD & CFO of SBI said that deposit growth has been strong for the bank. Sudhin Choksey, MD of Gruh Finance, said that demand side incentives are a significant relief to families in the segment. Jairam Sridharan, CFO, Axis Bank said the government schemes are good.
GRUH Finance reported a good set of numbers in the second quarter ended September on the back of a strong loan growth. The company‘s management has said that pure home loan portfolio will continue to grow at 20 percent going ahead.
Managing Director of GRUH Sudhin Choksey says the company‘s gross non-performing assets (NPA) rose to 0.58 percent and its asset quality is under pressure.
Interest subsidy of 6.5 percent is envisaged on loans availed up to a tenure of 15 years and up to Rs 6 lakh.
On the back of land acquisition ordinance and statements of affordable housing from government, he thinks the credit growth is likely to see an improvement, says Sudhin Choksey, MD of Gruh Finance.
The company posted a net interest income of Rs 125 crore for the first half of FY14. Also, the net interest margins ratio of the company is at around 4.14 percent, marginal reduction from the FY13 NIM of 4.38 percent.
GRUH Finance has built a successful business out of giving home loans to low-income families. It‘s secret? A model to assess credit worthiness of borrowers
Sudhin Choksey, MD of Gruh Finance feels the RBI initiative will certainly benefit the company as the funds flowing from the banks would now be considered for the priority sector.
Sudhin Choksey, managing director of Gruh Finance in an interview to CNBC-TV18 spoke about the latest happenings in the company and the road ahead.
In an exclusive interview with CNBC-TV18's Ekta Batra and Reema Tendulkar, Sudhin Choksey, Managing Director of Gruh Finance sees the Net Interest Margin for FY11 at around 4%. He also says that there has been 28% growth in oan assets and the disbursements have been to the tune of almost 71%.