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Home First Finance Company India Results: Latest Quarterly Results & Analysis

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Home First Finance Company India Ltd. 04 Nov 2025 17:18 PM
Result PDF

Q2FY26 Quarterly Result Announced for Home First Finance Company India Ltd.

Housing Finance company Home First Finance Company India announced Q2FY26 results

  • Total Income at Rs 479 crore; growth of 28.0% YoY.
  • PPOP stands at Rs 188 crore; growth of 49.5% YoY.
  • PAT at Rs 132 crore; up by 43.0% YoY.
  • ROA is at 3.8%; up by 10 bps YoY.
  • ROE at 13.4% due to enlarged equity base post recent fund raise; pre-money adjusted RoE at 16.7%.
  • Asset Quality:
    • Bounce rates range-bound. Oct’25 bounce rate of 17.4%.
    • 1 DPD is at 5.5% (up by 10 bps on QoQ).
    • 30 DPD at 3.7% (up by 20 bps on QoQ).
    • Gross Stage 3 (GNPA) at 1.9%.
    • Our credit cost is at 40 bps for the quarter.
  • Asset under Management (AUM):
    • Rs 14,178 crore, growth of 26.3% on YoY basis and 5.2% on QoQ basis.
    • Focus on housing loans that contribute 83% of AUM.
    • EWS / LIG category forms ~60% of the customer base.
  • Provisions: ECL provision as on Sep’25 is Rs 94 crore; resulting in total provision to loans outstanding ratio at 0.8%; and the GNPA to total provision coverage ratio (PCR) is at 40.8% as of Sep’25 vs 43.1% as of Jun’25.
  • Borrowings:
    • Total borrowings including debt securities are at Rs 9,653 crore as on Sep’25. The company continues to carry a liquidity buffer of Rs 4,280 crore as of Sep’25.
    • Cost of borrowings at 8.1%, lower by 30 bps compared to Q1FY26.
  • Capital Adequacy:
    • Total CRAR at 48.4%. Tier I capital stands at 48.0% as on Sep’25.
    • Networth as on Sep’25 is at Rs 4,014 crore vis-à-vis Rs 3,855 crore as on Jun’25.
  • Distribution:
    • The Company has 163 branches ( 5 from Jun’25) with presence in 13 States / UT.
    • Total touchpoints increased to 366 ( 4 from Jun’25 and 15 from Sep’24).
  • Q2FY26 Disbursements: Disbursements of Rs 1,289 crore, YoY growth of 9.6%.

Manoj Viswanathan, MD & CEO said: “At HomeFirst Finance, Q2 FY26 was another quarter of disciplined growth and steady execution; with the backdrop of a subdued macro environment marked by prolonged monsoons and tariff hikes. Our AUM reached Rs 14,178 crore, up 26.3% YoY and 5.2% QoQ. We continued to deepen our presence with a 163-branch network across 143 districts in 13 states - 5 additions since June. On the people front, we added a net of 14 employees, taking our base to 1,723.

On the liability side, proactive management helped us lower our cost of borrowings by 30 bps QoQ, supporting an ex–co-lending spread of 5.3%, up 20 bps. Profitability was robust: PAT came in at Rs 132 crore, up 43.0% YoY and 10.9% QoQ, delivering a RoA of 3.8%. Reported ROE was 13.4% post our recent equity raise; on a premoney adjusted basis, ROE stands at 16.7% - a better reflection of underlying earnings power.

Our asset quality remains healthy and within our comfort bands:

  • 1 DPD is at 5.5% (up by 10 bps on QoQ).
  • 30 DPD at 3.7% (up by 20 bps on QoQ).
  • Gross Stage 3 (GNPA) is at 1.9% (up by 10 bps on QoQ).
  • Our credit cost is at ~40 bps (flat on QoQ basis). We continue to maintain a credit cost guidance of 30 to 40 bps, ensuring disciplined risk management even as we scale.

Technology remains central to our strategy. Digital adoption continues to be strong and a key area of our focus as we grow. Account Aggregator penetration reached 83% of new approvals; digital fulfillment crossed 80% through e-agreements and e-NACH; and 96% of our customers are now app-registered, with 87% of service requests raised in-app.

We are equally committed to responsible growth. Under our Green Homes initiative, we certified 50 additional homes in the quarter, taking the cumulative count to 240 as of September. I am pleased to share that Morningstar Sustainalytics reaffirmed our ‘Low ESG Risk’ category with an improved score of 13.6 versus 16.2 last year. That is a reflection of our fundamentals, governance discipline, and the culture we are building.

As we enter H2, we remain optimistic about our business momentum on the back of improving macro environment, easing interest rate cycle , benign inflation trajectory and proactive government & regulatory measures.

To sum up, this quarter represented: consistent growth, expanding spreads, strong profitability, and stable asset quality.

Thank you to our customers for their trust, to our partners for their support, and to the HomeFirst team for executing with discipline. We look ahead to the second half with confidence.”

Result PDF

Result PDF

Housing Finance company Home First Finance Company India announced Q1FY26 results

  • AUM at Rs 13,479 crore; strong growth of 28.6% YoY and 6.0% QoQ.
  • Total Income: Rs 455 crore compared to Rs 341 crore during Q1FY25, change 33.4%.
  • Long Term croreedit Rating upgraded to AA ‘Stable’.
  • PAT at Rs 119 crore – up 35.5% YoY and 13.6% QoQ.
  • Successful QIP enhances Net worth by Rs 1,231 crore to Rs 3,855 crore.

Manoj Viswanathan, MD & CEO said: “Q1FY26 saw consistent business delivery with Assets Under Management (AUM) growing to Rs 13,479 crore, registering a growth of a 28.6% YoY and 6.0% QoQ. The key highlight from the quarter was the successful QIP of Rs 1250 crore and a subsequent upgrade of our long-term credit rating to AA (Stable) by ICRA, IndRa and CARE. This capital infusion augments HomeFirst’s capital base and further strengthens our ability to expand our footprint, deepen customer engagement, and deliver sustained value to all stakeholders.

Q1FY26 Disbursements, at Rs 1,243 crore, was in line with expectations for Q1. We continue to expand our distribution reach; we added 3 new physical branches during the quarter taking the total branch count to 158. As of Jun’25, we serve 142 districts in 13 States. We added net 75 employees during the quarter taking the total employee base to 1,709 as of Jun’25.

Our asset quality continues to be strong with a focus on early delinquencies.

  • 1 DPD is at 5.4% (up by 90 bps on QoQ).
  • 30 DPD at 3.5% (up by 50 bps on QoQ).
  • Gross Stage 3 (GNPA) is at 1.8% (up by 10 bps on QoQ).
  • Our credit cost is at 40 bps (up by 10 bps on QoQ basis). We continue to maintain a credit cost guidance of 30 to 40 bps, ensuring disciplined risk management even as we scale.

Technology remains central to our strategy. During the quarter we integrated DigiLocker into our document verification process, enabling secure access to government-issued documents directly from a customer's DigiLocker account, with their consent. Also, we have launched “Pulse” – an omni-channel conversational AI platform. It uses AI to seamlessly facilitate conversational business flows and actionable insights through advanced transcription and analytics. Pulse use-cases span from lead generation to customer service.

Digital adoption continues to be strong and a key area of our focus as we grow. Account aggregator adoption has improved to 78% amongst new approvals. Digital fulfillment has reached 80% with the use of digital agreements and E-NACH mandates. 96% of our customers are registered on our app as on Jun’25 and 88% of Service requests being raised on the app.

HomeFirst is committed towards sustainable and responsible lending. As part of our ESG efforts we have been promoting development of energy efficient “Green” homes. These houses consume less water and energy making them 20% more energy efficient. During the quarter, 70 additional new homes were certified under this initiative. As of Jun’25, a total of 190 Green Homes have been certified. Our ESG efforts are being acknowledged and appreciated by independent global agencies in form of high ESG scores; MorningStar Sustainalytics has reaffirmed our “Low-risk” ESG rating in the month of Jun’25. SES ESG Research has assigned a score of 80.8 in 2025 (vs. 78.9 in 2024) and CRISIL has assigned a score of 64 (up from 63 earlier) – implying “strong” rating.

We remain committed towards building a large affordable housing finance franchise driven by our unique business model. Housing in India continues to be a multi-decade growth opportunity with HomeFirst well positioned to harness the same.”

Result PDF

Housing Finance company Home First Finance Company India announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Assets Under Management: Rs 12,713 crore compared to Rs 9,698 crore during Mar'24.
  • PAT: Rs 105 crore compared to Rs 83 crore during Q4FY24.
  • Net worth: Rs 2,521 crore compared to Rs 2,121 crore during Q4FY24.
  • Disbursement: Rs 1,273 crore compared to Rs 1,102 crore during Q4FY24.

FY25 Financial Highlights:

  • Total Income at Rs 1,539 crore; growth of 33.1% YoY.
  • PPOP stands at Rs 530 crore; growth of 24.7% YoY.
  • PAT at Rs 382 crore; up by 25.0% YoY.
  • ROA is at 3.5%; down by 30 bps YoY.
  • ROE at 16.5% increased by 100 bps YoY.
  • Distribution:
    • The Company has 155 branches ( 22 from Mar’24) with presence in 13 States / UT.
    • Total touchpoints increased to 361 ( 40 from Mar’24).
  • FY25 Disbursements:
    • Disbursements of Rs 4,805 crore, growth of 21.2% on YoY basis.
  • Asset under Management (AUM):
    • Rs 12,713 crore, growth of 31.1% on YoY basis and 6.4% on QoQ basis.
    • Focus on housing loans that contribute 84% of AUM.
    • EWS / LIG category forms ~61% of the customer base.
  • Asset Quality:
    • Bounce rates range-bound. Apr’25 witnessed bounce rate of 16.2%.
    • 1 DPD is at 4.5% (decline of 30 bps on QoQ).
    • 30 DPD at 3.0% (decline of 10 bps on QoQ).
    • Gross Stage 3 (GNPA) at 1.7%. Prior to RBI classification circular of Nov’21, it stands at 1.4%.
    • Our credit cost is at 30bps for the quarter; 30bps for the FY25.
  • Provisions:
    • ECL provision as on Mar’25 is Rs 84 crore; resulting in total provision to loans outstanding ratio at 0.8%; and the GNPA to total provision coverage ratio (PCR) is at 46.6% as of Mar’25 vs 50.9% as of Mar’24.
  • Borrowings:
    • Total borrowings including debt securities are at Rs 9,551 crore as on Mar’25. The company continues to carry a liquidity of Rs. 2,468 crore as of Mar’25.
    • Cost of borrowings at 8.4% (flat QoQ); 8.4% for FY25 ( 30bps YoY).
  • Capital Adequacy:
    • Total CRAR at 32.8%. Tier I capital stands at 32.4% as on Mar’25.
    • Networth as on Mar’25 is at Rs 2,521 crore vis-a-vis Rs 2,408 crore as on Dec’24.

Manoj Viswanathan, MD & CEO, said: “We are pleased to report yet another year and a quarter of consistent performance, marked by strong growth, operational excellence, and precise execution.

Our Assets Under Management (AUM) grew to Rs. 12,713 crore, registering a 31.1% YoY and 6.4% QoQ increase while delivering a PAT of Rs 382 crore with an ROE of 16.5% for FY2025. Asset quality remained stable with a GNPA of 1.7%.

Disbursements grew notably this quarter, increasing by 6.7% QoQ. For FY25, disbursements were up 21.2% YoY to Rs 4,805 crore. For the year, Profit After Tax (PAT) rose by 25.0% YoY to Rs. 382 crore, and for this quarter PAT increased by 25.4% on a YoY basis to Rs 105 crore. We achieved an RoA and ROE of 3.5% and 17.0% for the quarter. Despite the continued rise in MCLRs of banks, we were able to leverage our strong balance sheet and well-diversified borrowing mix to maintain a competitive CoB (Ex-Co-lending) of 8.4% for FY25.

We continue to scale our operations and grow our distribution in large affordable housing markets. During FY25, we further expanded our network, adding 40 touchpoints, including 22 branches – this added our reach to 10 more districts within our 13 states and union territory. As of Mar'25, our total touchpoints stand at 361, with 155 branches. As we expand our operations, we also added 385 employees during FY25, taking the total employee strength to 1,634. Most of these new additions were for our front-end teams to strengthen our customer reach.

In April 2025, HomeFirst successfully raised Rs 1,250 crore by issuing 1.3 croreore of equity shares to Qualified Institutional Buyers via a Qualified Institutional Placement (QIP). This capital infusion will significantly bolster HomeFirst’s capital base. The overwhelming investor response highlights trust in our steady, quality-driven growth trajectory in the affordable housing finance sector.

Our asset quality remains resilient, anchored by strong underwriting and early delinquency management:

  • 1 DPD is at 4.5% (decline of 30 bps on QoQ).
  • 30 DPD at 3.0% (decline of 10 bps on QoQ).
  • Gross Stage 3 (GNPA) is at 1.7% (flat on QoQ). Prior to RBI classification circular of Nov’21, it stands at 1.4%.
  • Our credit cost is at 30bps (flat on QoQ basis). We continue to maintain a conservative credit cost guidance of 30 to 40 bps, ensuring disciplined risk management even as we scale.

As we remain focused towards sustainable finance, we expanded our Green Home initiative during the year with 120 Green Homes certifications as of Mar’25. Our ESG efforts are being acknowledged and appreciated by independent global agencies in form of high ESG scores – 46 by S&P Global for 2024 and 16.2 by MorningStar Sustainalytics indicating “Low-risk”.

Technology remains central to our strategy. Digital adoption continues to be strong and a key area of our focus as we grow. Account aggregator adoption has improved to 75% amongst new approvals. Digital fulfillment has reached ~80% with the use of digital agreements and E-NACH mandates. 96% of our customers are registered on our app as on Mar’25 and 88% of Service requests being raised on the app.

The regulatory environment remains conducive with two consecutive rate cuts of 25 bps each by RBI and focus on improving liquidity, promoting growth and governance. We remain encouraged by the structural long-term growth drivers of the housing sector supported by overall economic growth momentum, improving socio-economic parameters, and rising middle-class. We believe that with our superior execution capability; we will continue to deliver strong growth balanced with stable asset quality and high profitability – delivering sustainable value creation for all our stakeholders.”

Result PDF

Housing Finance company Home First Finance Company India announced Q3FY25 results

  • Total Income at Rs 407 crore; YoY growth of 35.4%.
  • PPOP stands at Rs 140 crore, growth of 27.2% YoY.
  • PAT at Rs 97 crore, up by 23.5% YoY.
  • ROA is at 3.4%; flat QoQ.
  • ROE at 16.6% increased by 10 bps QoQ.
  • Distribution:
    • The Company has 149 branches with presence in 13 States / UT.
    • Total touchpoints increased to 359 ( 8 from Sep’24 and 54 from Dec’23).
  • Q3FY25 Disbursements: Disbursements of Rs 1,193 crore, YoY growth of 18.4% basis.
  • Asset under Management (AUM):
    • Rs 11,949 crore, growth of 32.6% on YoY basis and 6.4% on QoQ basis.
    • Focus on housing loans that contribute 84% of AUM.
    • EWS / LIG category that forms ~61% of the customer base.
  • Asset Quality:
    • ???????Bounce rates range-bound. Jan’25 witnessed bounce rate of 16.0%.
    • 1 DPD is at 4.8% (increase of 30 bps on QoQ).
    • 30 DPD at 3.1% (increase of 30 bps on QoQ).
    • Gross Stage 3 (GNPA) at 1.7%. Prior to RBI classification circular of Nov’21, it stands at 1.4%.
    • Our credit cost is at 30bps for the quarter.
  • Provisions: ECL provision as on Dec’24 is Rs 84 crore; resulting in total provision to loans outstanding ratio at 0.8%; and the GNPA to total provision coverage ratio (PCR) is at 47.3% in Dec’24 vs 52.4% in Dec’23.
  • Borrowings:
    • Total borrowings including debt securities are at Rs 9,213 crore as on Dec’24. The company continues to carry a liquidity of Rs 3,486 crore as on Dec’24.
    • Cost of borrowings at 8.4% (flat on QoQ basis).
  • Spread: Ex-CL Spread on loans stood at 5.2% in Q3FY25, decrease of 10bps QoQ.
  • Capital Adequacy:
    • Total CRAR at 33.1%. Tier I capital stands at 32.7% as on Dec’24.
    • Networth as on Dec’24 is at Rs 2,408 crore vis-à-vis Rs 2,289 crore as on Sep’24.

Manoj Viswanathan, MD & CEO said: “We are delighted to report another quarter of strong performance. Our AUM grew to Rs 11,949 crore, reflecting a robust YoY growth of 32.6% and QoQ growth of 6.4%. PAT increased by 23.5% on a YoY basis to Rs 97 crore leading to RoA of 3.4%. We achieved an ROE of 16.6% in Q3FY25; in a high-interest rate environment. The continued improvement in our return on equity reflects our focus on sustainable growth, operational efficiency and strong credit quality. Our strong liability profile and timely availability of competitive cost of borrowing enabled us to contain the cost of borrowing. We further expanded our network, adding 7 branches and 8 touch points, taking our total branch count to 149 and touchpoints to 359. Employee strength has grown from 1,249 in Mar’24 to 1,704 in Dec’24 with the objective of driving further expansion.

To enable further support of the vision of the company and achieve our medium-term ambition of AUM of Rs 20,000 crore by Mar’27, the Board has also passed an enabling resolution to raise equity capital into the company of upto Rs 1,250 crore. This reflects a strong confidence in our ability to drive our growth plans and gain market share in the affordable housing finance segment.

Our asset quality continues to be strong with a focus on early delinquencies.

  • 1 DPD is at 4.8% (increase of 30 bps on QoQ).
  • 30 DPD at 3.1% (increase of 30 bps on QoQ).
  • Gross Stage 3 (GNPA) is at 1.7% (flat on QoQ). Prior to RBI classification circular of Nov’21, it stands at 1.4%.
  • Our credit cost at 30bps (remained flat on YoY and increased by 10 bps on QoQ basis). We continue to maintain our conservative credit cost guidance of 30 to 40 bps.

Technology remains central to our strategy. Digital adoption continues to be strong and a key area of our focus as we grow. Account aggregator adoption has improved to 61% amongst new approvals. Digital fulfillment has reached ~80% with the use of digital agreements and E-NACH mandates. 96% of our customers are registered on our app as on Dec’24 and 88% of Service requests being raised on the app.

To further our commitment to the vision of "Housing for All," we are proud to share our partnership with MoHUA and NHB to spearhead the ISS vertical of the PMAY initiative. As part of this collaboration, we have successfully conducted initial pilot projects in our regions. At HomeFirst, we remain steadfast in our dedication to making this initiative a resounding success.

Our S&P Global ESG Score has improved significantly from 34 in FY23 to 45 in FY24, reflecting our unwavering dedication to environmental, social, and governance excellence. This remarkable progress underscores our commitment to sustainable business practices, fostering a positive impact on the environment, empowering communities, and maintaining the highest standards of governance.

We are excited about the opportunities ahead, especially with the continued push for affordable housing under government initiatives like PMAY-U 2.0. We remain committed to our mission of providing fast, transparent and efficient home finance solutions to the aspiring middle class.

Result PDF

Housing Finance company Home First Finance Company India announced Q2FY25 results

Financial Highlights:

  • Total Income at Rs 374 crore; YoY growth of 34.6%.
  • PPOP stands at Rs 126 crore, growth of 20.7% YoY.
  • PAT at Rs 92 crore, up by 24.1% YoY.
  • ROA is at 3.4%.
  • ROE at 16.5% increased by 20 bps QoQ.

Other Highlights:

  • Distribution:
    • The Company has 142 branches with presence in 13 States / UT.
    • Total touchpoints increased to 351 ( 8 from Jun’24 and 56 from Sep’23).
  • Q2FY25 Disbursements:
    • Disbursements of Rs 1,177 crore, YoY growth of 22.7% basis.
  • Asset under Management (AUM):
    • Rs 11,229 crore, growth of 34.2% on YoY basis and 7.2% on QoQ basis.
    • Focus on housing loans that contribute 85% of AUM.
    • EWS / LIG category that forms ~62% of the customer base.
  • Asset Quality:
    • Bounce rates range-bound. Oct’24 witnessed bounce rate of 15.6%.
    • 1 DPD is at 4.5% (flat on QoQ).
    • 30 DPD at 2.8% (decrease of 10 bps on QoQ).
    • Gross Stage 3 (GNPA) at 1.7%. Prior to RBI classification circular of Nov’21, it stands at 1.3%.
    • Our credit cost is at 20bps for the quarter.
  • Provisions:
    • ECL provision as on Sep’24 is Rs 79 crore; resulting in total provision to loans outstanding ratio at 0.8%; and the GNPA to total provision coverage ratio (PCR) is at 48.0% in Sep’24 vs 52.3% in Sep’23.
  • Borrowings:
    • Total borrowings including debt securities are at Rs 8,867 crore as on Sep’24. The company continues to carry a liquidity of Rs. 3,262 crore as on Sep’24.
    • Cost of borrowings at 8.4% increased by 10bps QoQ.
  • Spread:
    • Ex-CL Spread on loans stood at 5.3% in Q2FY25, increase of 10bps QoQ.
  • Capital Adequacy:
    • Total CRAR at 36.4%. Tier I capital stands at 36.0% as on Sep’24.
    • Networth as on Sep’24 is at Rs 2,289 crore vis-a-vis Rs 2,188 crore as on Jun’24.

Manoj Viswanathan, MD & CEO, Home First Finance Company India said: “We are pleased with the company’s strong performance during the quarter. We continue to expand deeper into our existing markets with the addition of 9 branches and 8 touch points in Q2 taking the total branch count to 142 branches and touch point count to 351 touch points across 138 districts in 13 states/UTs. Disbursements grew by 22.7% YoY, to an all time high of 1,177 crore resulting in an AUM of Rs. 11,229 crore with a growth of 34.2% YoY. Employee strength has grown from 1249 in Mar’24 to 1642 in Sep’24 with the objective of driving further expansion.

Our funding channels have expanded well with addition of 2 banks in Q2 and a first drawdown has been completed; out of the sanctioned USD 75 million from US Development Finance Corporation (DFC). The DFC proceeds will be utilized to provide affordable housing and mortgage financing to women borrowers thereby advancing gender equity in India.

Spreads ex-co-lending moved up to 5.3% ( 10bps QoQ) as a result of increase in PLR effective 1 st August. PAT at Rs. 92 crore grew by 24.1% YoY leading to ROA of 3.4%. We achieved an ROE of 16.5% in this quarter. The continued improvement in our return on equity reflects our focus on sustainable growth, operational efficiency and strong credit quality.

Our asset quality continues to be strong with a focus on early delinquencies.

  • 1 DPD is at 4.5% (flat on QoQ basis).
  • 30 DPD at 2.8% (decrease of 10 bps on QoQ basis).
  • Gross Stage 3 (GNPA) is at 1.7% (flat on QoQ). Prior to RBI classification circular of Nov’21, it stands at 1.3%.
  • Our credit cost at 20bps (decreased by 20 bps on YoY and remained flat on QoQ basis). We continue to maintain our conservative credit cost guidance of 30 to 40 bps.

Digital adoption continues to be strong and a key area of our focus as we grow. 95% of our customers are registered on our app as on Sep’24. Unique User Logins were 50% in Q2FY25. Service requests raised on app was at 89%.

During the quarter, the Ministry of Housing and Urban Affairs has released the initial operational guidelines for Pradhan Mantri Awas Yojana - Urban 2.0 (PMAY-U 2.0). This scheme aims to address the housing needs of 1 crore economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG) individuals seeking affordable housing. This revamped scheme will provide an impetus to the growth of the affordable housing segment.

We remain focused on building HomeFirst as a preferred brand name in the affordable housing segment, renowned for its speed and service. As we move forward with the support of diverse funding sources and effective risk management, we remain committed to provide loans for affordable housing, driven by technology and a strong execution mindset. We will continue to deliver strong results while staying true to our mission of being the “Fastest Provider of Home Finance for the Aspiring Middle Class, delivered with Ease and Transparency.”

Result PDF

Housing Finance company Home First Finance Company India announced Q1FY25 results:

  • Total Income at Rs 341 crore; YoY growth of 31.4%.
  • PPOP stands at Rs 119 crore, growth of 21.9% on YoY basis.
  • PAT at Rs 88 crore, up by 27.0% on YoY basis.
  • ROA was maintained at 3.6%
  • ROE at 16.3% increased by 20 bps on QoQ basis.
  • AUM: Rs 10,478 crore, growth of 34.8% on YoY basis and 8.0% on QoQ basis.
  • Disbursements of Rs 1,163 crore, YoY growth of 29.9% and 5.5% on QoQ basis
  • Total borrowings including debt securities are at Rs 7,899 crore as on Jun’24. The company continues to carry a
    liquidity of Rs 2,620 crore as on Jun’24.
  • Cost of borrowings at 8.3% increased by 30 bps on YoY basis.

Commenting on the performance Manoj Viswanathan, MD & CEO said: “I am happy to share with you that we have crossed the milestone of Rs 10,000 crore AUM. This achievement is a testament to HomeFirst’s commitment to excellence, driven by a differentiated business model with enhanced usage of technology driven solutions, high productivity standards, diversified funding and rigorous risk management practices.

Business momentum continues well into Q1FY25 with disbursal growth of 29.9% resulting in an AUM of Rs 10,478 crore with a YoY growth of 34.8%. Spreads are healthy at 5.2%. PAT at Rs. 88 Cr grew by 27.0% on YoY basis leading to ROA of 3.6%. We achieved an ROE of 16.3% in this quarter.

We have added 22 new touchpoints in this quarter, taking the total tally to 343. We have increased presence in 4 new districts taking the total coverage to 135 districts. The company plans to open 20-25 new physical branches in this financial year.

Our asset quality continues to be strong with a focus on early delinquencies.

  • 1 DPD is at 4.5% (up by 30 bps on QoQ).
  • 30 DPD at 2.9% (up by 10 bps on QoQ).
  • Gross Stage 3 (GNPA) is at 1.7% (flat on QoQ). Prior to RBI classification circular of Nov’21, it stands at 1.3%.
  • Our credit cost at 20bps (increased by 10 bps on QoQ basis). We continue to maintain our credit cost guidance of 30 to 40 bps.

Technology remains central to our strategy. Account aggregator adoption has become mainstream with an adoption rate of 41% amongst new approvals (36% in Q4FY24). Digital penetration is strong with 95% of our customers registered on our app. Digital fulfilment has reached 70% with the use of digital agreements and e-NACH mandates. 90% of service requests are raised on the mobile app.

We are confident to continue the growth momentum led by a strong economic environment, rising middle class population, expanding distribution network and differentiated business model. We are focused on building HomeFirst as a preferred brand name in the affordable housing finance industry, known for its extraordinary speed and service. While we celebrate the achievement of Rs 10,000 Cr AUM and progress towards the next milestone, we will remain anchored to our fundamental principles of responsible lending, strong governance, compliance and prudent risk management.”

Result PDF

Housing Finance company Home First Finance Company India announced Q4FY24 & FY24 results:

Financial Highlights:

  • Growth momentum continues in FY24 with disbursements at Rs 3,963 crore growing by 31.5% YoY.
  • AUM at Rs 9,698 crore grew by 34.7% on YoY; with an industry leading home loan mix of 86%.
  • Leading ROE’s: FY24 15.5% ( 200bps YoY) & Q4FY24 16.1% ( 170bps YoY); Asset quality strong.
  • Expanding distribution with 133 branches ( 22 on YoY basis) across 13 states. 

Commenting on the performance Manoj Viswanathan, MD & CEO said, “We are happy to conclude FY24 on a strong base & we continue the growth momentum forward to FY25. This has been supported by the booming Indian economy and strong tailwinds which has a positive effect on the housing demand coupled with our differentiated business model allowing us to grow on a pan-India basis with robust risk-management processes. Disbursements at Rs 3963 crore, grew by 31.5% and AUM grew by 34.7%. Spreads remain healthy at 5.4%. PAT at Rs 306 crore grew by 33.9% on y-o-y basis leading to ROA of 3.8%. Delighted to deliver ROE of 15.5% for FY24 and Q4FY24 saw it higher at 16.1% even in a high interest rate environment.

We continue to build distribution by simultaneously entering new markets and deepening our presence in existing markets. States of Uttar Pradesh, Madhya Pradesh and Rajasthan are emerging as large affordable housing markets and we have taken steps to strengthen our presence and expand distribution in these states. Overall, we have added 22 branches in FY24 and now have 133 physical branches. Including potential & digital branches, we now do business across 321 touchpoints across Tier 1 to Tier 5 markets in 13 states / UT of India.

  • Our asset quality continues to be strong with a focus on early delinquencies
  • 1 DPD is at 4.2% (decline of 30 bps on q-o-q).
  • 30 DPD at 2.8% (decline of 20 bps on q-o-q).
  • Gross Stage 3 (GNPA) is at 1.7% (flat on q-o-q). Prior to RBI classification circular of Nov’21, it stands at 1.1%.
  • Our credit cost at 10bps (decline of 20 bps on q-o-q basis). Our overall collections remain strong and in
  • Q4FY24; we have had considerable recoveries from previously written-off accounts contributing to these credit cost levels. We continue to maintain our credit cost guidance of 30 to 40-bps.

Digital adoption continues to be strong and a key area of our focus as we grow. 95% of our customers are registered on our app as on Mar’24. Unique User Logins was 53% in Q4FY24. Service requests raised on app was stable at 89%. In Q4FY24, we have processed 47% of sanctions via Account Aggregator route.

We are confident to continue the growth momentum led by a strong economic environment, rising middle class population, expanding distribution network and differentiated business model. We continue to stay focused on providing loans for affordable housing, led by distribution and use of technology, backed by diversified funding and strong risk management.”

Result PDF

Housing Finance company Home First Finance Company India announced Q3FY24 results:

Financial Performance:
- AUM (Assets Under Management) reached Rs 9,014 crore, marking a significant YoY increase of 33.5% and a QoQ growth of 7.7%.
- Disbursements stood at Rs 1,007 crore for Q3, showing a healthy YoY rise of 29.1%.
- Total Income for the quarter was reported at Rs 301 crore, which signifies a YoY increase of 46.4%.
- The company's Profit After Tax (PAT) for the quarter is Rs 79 crore, improving by 34.2% YoY.
- Net worth as of December 2023 is Rs 2,032 crore, up from Rs 1,817 crore in March 2023

Asset Quality and Risk Management:
- Gross Stage 3 assets (GNPA - Gross Non-Performing Assets) stand at 1.7%, showing a reduction of 10 basis points YoY and remaining stable QoQ.
- The Credit Cost is maintained at 30 basis points, decreasing by 10 basis points both YoY and QoQ.

Operational Efficiency:
- The Spread on loans is reported at 5.3%, with a QoQ decrease of 20 basis points.
- Cost to Income ratio is slightly higher at 35.9%, up by 60 bps since last year.
- Return on Assets (ROA) is at 3.7%, with a 10 bps decrease from both the last quarter and the same quarter last year.
- Return on Equity (ROE) shows a promising figure of 15.8%, demonstrating an increase of 20 bps QoQ.

Distribution Growth:
- The company expanded its branch network to 123 branches across 13 states/UT.
- Total touchpoints for the company have risen to 305, up by 10 QoQ and 44 YoY.

Capital and Borrowings:
- Borrowings, including debt securities, stood at Rs 6,846 crore as of December 2023.
- Liquidity remains strong at Rs 2,468 crore.
- The cost of borrowings has risen to 8.2%, increasing by 10 bps QoQ.

Commenting on the performance Manoj Viswanathan, MD & CEO said, “We are happy to continue the growth momentum in Q3FY24. HomeFirst’s performance has been strong across all operating and financial parameters. We delivered PAT growth of 34.2% on YoY & 6.1% on a QoQ basis leading to an ROE of 15.8% in a high interest rate environment. We believe the level of consistent and superior returns is a testimony to our strong risk management, use of right technology and scalability of our differentiated business model.

We continue to build distribution by simultaneously entering new markets and deepening our presence in existing markets. States of Uttar Pradesh & Madhya Pradesh are emerging as large affordable housing markets and we have taken steps to strengthen our presence and expand distribution in these states. Overall, we have added 3 branches in Q3 and now have 123 physical branches. Including potential & digital branches, we now do business across 305 touchpoints across Tier 1 to Tier 5 markets in 13 states / UT of India.

Digital adoption continues to be strong and a key area of our focus as we grow. 94% of our customers are registered on our app as on Dec’23. Unique User Logins was 54% in Q3FY24. Service requests raised on app was stable at 88%.

We continue to stay focused on providing loans for affordable housing, led by distribution and use of technology, backed by diversified funding and strong risk management. We believe that given the tailwinds of the housing sector supported by overall economic growth momentum and strong execution mindset of the company, we will continue to deliver excellent results while staying true to our mission of being the 'Fastest Provider of Home Finance for the Aspiring Middle Class, delivered with Ease and Transparency.'"

 

 

Result PDF

Home First Finance Company India announced Q2FY24 & H1FY24 results:

1. Financial Performance:
- HomeFirst's Q2FY24 AUM at Rs ~84 billion, representing a growth of 33.3% YoY and 7.6% QoQ.
- Disbursements in Q2FY24 amounted to Rs 959 crore, showing a strong YoY growth of 36.6% and a QoQ growth of 7.1%.
- Total income for the quarter stood at Rs 278 crore, reflecting a YoY growth of 46.8%.
- Profit after tax (PAT) for Q2FY24 was Rs 74 crore, marking a YoY growth of 36.9%.

2. Asset Quality:
- The GNPA (Gross Stage 3) ratio for Q2FY24 was recorded at 1.7%, indicating a slight increase of 10 bps from the previous quarter.
- Bounce rates improved to 14.2% from 15.0% QoQ.
- 1 DPD (Days Past Due) remained range bound at 4.5%.
- 30 DPD remained flat at 2.9% in Q2FY24, showing a decline of 40 bps YoY.

3. Distribution and Market Presence:
- HomeFirst has a strong distribution network with 120 branches across 13 states/UTs.
- The company added 7 branches in Q2FY24, further expanding its market presence.
- Total touchpoints increased to 295, reflecting a growth of 46 from September 2022.

4. Borrowings and Capital Adequacy:
- Total borrowings, including debt securities, stood at Rs 6,002 crore as of September 2023.
- The company maintains a liquidity of Rs 2,617 crore as of September 2023.
- Capital adequacy ratio (CRAR) is at 45.5%, with Tier I capital at 45.0%.

Commenting on the performance, Manoj Viswanathan, MD & CEO, said, "Q2FY24 performance has been strong across all operating and financial parameters. We have delivered an ROE of 15.6% in an inflationary and peak interest rate environment. This level of consistent and superior returns is a testimony to our strong risk management, use of the right technology, and scalability of our model. We continue to build distribution by simultaneously entering new markets and deepening our presence in existing markets."

 

 

Result PDF

Home First Finance Company India announced Q1FY24 results:

  • Q1FY24 ROE at 15%, with HL mix at 87%.
  • Q1FY24 Disbursement at Rs 895 crore (35.4% YoY, 3.0% QoQ), broad-based growth across all markets.
  • AUM at Rs 78 billion (33.3% YoY, 8.0% on QoQ). Asset quality sustains at pre-covid levels.

Commenting on the performance Manoj Viswanathan, MD & CEO said, “We stay focused on providing loans for affordable housing, led by distribution and use of technology, backed by diversified funding and strong risk management. We continue to expand our distribution in large affordable housing markets in States where we are already present, going deeper in a contiguous manner. We now do business across 282 touchpoints across Tier 1, Tier 2, and Tier 3 markets in 13 states/ UT. Disbursement in Q1 at Rs 895 crore was higher than in Q4, with a growth of 35.4% on a YoY basis and 3.0% on a QoQ basis, leading to an AUM growth of 33.3% to Rs 7,776 crore.

We witnessed a pass-through of rate hikes and an elevated interest rate environment. Our strong liability profile and timely availability of low-cost funding from NHB enabled us to contain the cost of borrowing. The competitive overall cost of borrowing coupled with a PLR increase of 50bps in Apr’23 helped expand spreads on a QoQ basis and sustain NIM on a QoQ basis, despite the increase in leverage. Spreads at 5.7% remain ahead of our guided levels of 5.25%.

Asset quality is at pre-covid levels and reflects marginal seasonality impact in Q1FY24.

  • 1 DPD increased from 4.0% in Q4 to 4.3% in Q1 but showed a yoy decrease of 70 bps.
  • 30 DPD increased from 2.7% in Q4 to 2.9% in Q1 but showed a yoy decrease of 60 bps.
  • Gross Stage 3 (GNPA) is stable qoq at 1.6% but showing a yoy decline of 50 bps. Before the RBI classification circular of Nov’21, it stands at 1.0% up 10 bps from Q4.
  • Our credit cost is at 40 bps for the quarter

PAT at Rs 69 crore was up 34.9% YoY and 8% QoQ. ROA holds steady at 3.9%. Q1FY24 ROE at 15% ( 220 bps YoY, 60 bps QoQ) is a testimony of our strong and agile business model.

Digital adoption continues to be strong and a key area of our focus as we grow. 93% of our customers are registered on our app as on Jun’23. Unique User Logins were 55% in Q1FY24. Service requests raised on the app were stable at 91%.

We believe that given the tailwinds of the housing sector supported by overall economic growth momentum and the strong execution mindset of the company, we will continue to deliver excellent results while staying true to our mission of being the “Fastest Provider of Home Finance for the Aspiring Middle Class, delivered with Ease and Transparency."

 

Result PDF

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