Chennai, June 24 (HS)Shriram Housing Finance Limited (SHFL) has raised long term debts of around Rs.300 crore. The company has raised Rs.250 crore long term loan from a PSU Bank at 8.5 per cent interest and Rs.40 crore NCD under TLTRO 2 at an annualised coupon of 8.55%.T he bank loan is repayable in five years. With this, the company has raised over 700 crore in the current calendar year.
In the recently declared Financial Results for the year 2020 , the company has reported a 25% growth in its AUM to Rs.2305 crore by clocking disbursal of Rs.1127 crore for the year.
The company has reported a jump of 160% in PBT from 25 crore in FY 2019 to Rs.65 crore in FY 2020.
The PAT grew from 16.6 crore to 46.6 crore in Financial Year 2020 registering a growth of 179%. The net worth of the company thereby stood at Rs.513 crore. The company results have also shown a significant improvement in portfolio quality.
Mr. Ravi Subramanian, Managing Director and CEO, SHFL said they are delighted that the market has shown confidence in us even during such challenging times.
Despite the challenges, SHFL has always focused on getting new business without compromising on the portfolio quality and we look forward to work for the benefit of the society and our customers keeping in mind the current pandemic situation.
Besides the debt raised so far, we also have NCDs in the pipeline. This only strengthens our belief that there is sufficient liquidity available for well managed companies, he said.
SHFL with over 65 branches across the country plans to tap the potent opportunity for cross-selling home loans.
The company plans to leverage the Groups distribution strength (over 3500 branches across Shriram Transport and Shriram City Union Finance) to cater to the needs of the exclusive set of group customers.