Aadhar Housing Finance consolidated net up 38% in FY24 at ₹750 crore

May 29, 2024

Aadhar Housing Finance Limited (AHFL) on Wednesday reported a 38 percent increase in consolidated net profit for the fiscal year ended March 31, 2024, at ₹ 750 crore (₹545 crore). 

The consolidated total income of the company for the fiscal year 2023–24 grew 27 per cent to ₹ 2587 crore (₹ 2,044 crore).

AHFL, which recently got listed on the bourses, has reported a 44 percent increase in consolidated net profit for the quarter ended March 31, 2024, at ₹202 crore (₹140 crore).

Commenting on the FY24 performance, Rishi Anand, MD & CEO of Aadhar Housing Finance Ltd, said, “Financial Year 2024 has been an excellent year for us, characterised by robust financial achievements and expansion efforts sustaining our growth trajectory.”

AHFL ended fiscal 2023-24 with assets under management of ₹21,121 crore, a growth of 23 percent year-on-year. This was led by a 20 percent growth in disbursements.

Gross NPA (GNPA) on AUM for the year 2023-24 stood at 1.08 percent and net NPA stood at 0.71 percent as compared with FY23 levels of 1.16 percent and 0.84 per cent, respectively.

“We expanded our reach pan India with more than 523 branches covering 534 districts across 20 states, serving 266k+ live accounts. We aim to expand our distribution to achieve deeper market penetration, and this expansion will be executed systematically,” Anand said. 

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