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Home » Blog » HomeFirst FY21 PAT crosses INR 100 Crs; up by 25.9% y-o-y, backed by strong disbursals

HomeFirst FY21 PAT crosses INR 100 Crs; up by 25.9% y-o-y, backed by strong disbursals


HomeFirst is a technology-driven affordable housing finance company that targets first-time buyers in low and middle-income groups. We got listed in Feb’21 on the Bombay Stock Exchange & National Stock Exchange of India.

Commenting on the performance Mr. Manoj Viswanathan, MD & CEO said,

“Our results for Q4 & FY21 have exceeded our forecasts. This year, we have recorded the highest PAT of INR 100 Crs in the history of the company, a growth of 25.9% over FY20 in spite of challenges posed by the Covid pandemic.

We also registered record quarterly disbursals of INR 452 Crs in Q4 FY21. This is further enhanced by the fact that this growth is broad-based across all our markets. The Southern markets now contribute to more than 30% of our disbursals.

Our collection efficiency ratio has improved to 98.5%+ in Mar’21. All our leading indicators of asset quality such as bounce rates and 1 DPD have shown improvement over the previous quarter. Bounce rates have improved from 20.1% in Q3 FY21 to 17.3% in Q4 FY21 and 1 DPD has improved from 7.5% to 6.2% in the same period. Our Gross Stage 3 is at 1.8% even in these challenging times. Considering that SARFAESI restrictions have been lifted recently, we are confident of resolving our Stage 3 accounts in the coming months. We continue to adopt a balanced approach to business growth with a keen focus on asset quality and profitability.

During Q4, we have completed a Direct Assignment (DA) transaction worth INR 116 Crs (INR 300 Crs for FY21). Like in the past, the Company continues to explore these transactions which will help optimize the capital usage, bring down leverage and improve the cost of funds as well as balancing the existing liquidity position of the company.

As a leading fintech player in the housing finance space, we continue to invest in our strong tech-led operating model along with integrated customer relationship management and loan management systems to deliver superior service to customers with industry-leading turnaround times!

In FY21 we navigated through the pandemic to record some remarkable milestones. While the battle to overcome Covid 2.0 rages on, in India; we stand resilient, prepared, and committed to support our societies at every step, to facilitate and participate in the inevitable recovery.”

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