Aptus Value Housing AUM crosses ₹7,000 cr mark in Q1

August 1, 2023

The total assets under management (AUM) of Aptus Value Housing has crossed the ₹7,000 crore milestone in the first quarter led by strong growth in disbursals. The assets of the company jumped 29 per cent year-on-year to ₹7,123 crore in Q1FY24 against ₹5,519 crore at the corresponding quarter of the previous fiscal.

The Chennai-based company is into affordable housing finance. It offers home loans for purchase and self-construction of residential property, home improvement, extension loans, loan against property and business loans, primarily to first time home buyers belonging to the low and middle-income groups.

The company’s disbursement grew by 23 per cent to ₹646 crore (₹525 crore) in the first quarter. “Digital adoption continues to be strong and about 14 per cent of our business in Q1FY24 has come from construction eco system app, customer referral app and social media leads,” M Anandan, Executive Chairman, said in an earnings release.

High finance costs

The company on Tuesday posted 20 per cent growth in its consolidated net profit for the first quarter at ₹142 crore (₹118 crore). Total revenue from operations grew by 28 per cent to ₹306 crore (₹240 crore). 

The lender’s total expenses jumped 36 per cent to ₹131 crore (₹96 crore) led by increase in finance cost, which went up by 57 per cent to ₹85 crore (₹54 crore).

Gross non-performing assets of the company improved 1.29 per cent (1.75 per cent) . 

The company said it expects 30-35 per cent growth in disbursements and improved collection efficiencies.

Shares of Aptus Value Housing closed 5 per cent lower on NSE at ₹269.15

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