Business EconomyPosted at: May 21 2019 4:15PM

Chennai, May 21 (UNI) Sundaram BNP Paribas Home Finance Limited
on Tuesday announced that it has registered a 64 per cent rise in its net
\\\\profit for Q4 ended March 31, 2019 at Rs 25.74 crore as compared to
Rs 15.68 crore registered during the corresponding period last year.
Home Loan Disbursements for Q4 increased by eight per cent to
Rs 480 crore from Rs 446 crore, a company release here said.
The company registered a Net Profit of Rs 145 crore for the year
ended March 31, 2019 as compared to Rs 144 crore last year and
home loan disbursements for the year stood at Rs 1,681 crores as
against Rs 1,656 crores registered last year.
Asset Quality continues to be satisfactory. Gross NPA stood at
2.95 per cent (previous year 3.27 per cent) and Net NPA at 0.91
per cent (previous year 1.25 per cent) as on March 31, 2019.
The Capital Adequacy Ratio was at a comfortable 23.8 per cent
as against the statutory requirement of 12 per cent.
During FY19, the company mobilized fresh deposits to the tune
of Rs 270 crore and ended the year with a deposit base of
Rs 1,175 crore.
As part of its growth plans, the company plans to raise over
Rs 4,000 crores this year through a mix of different funding
instruments, including tapping into the debt market.
The company also announced induction of D Lakshminarayanan
from within the group as Executive Director to further strengthen
the management team.
On the outlook for the year, Srinivas Acharya said “with the
increased push in the infrastructure sector and tax benefits
in the affordable housing segment, I am cautiously optimistic
about the prospects of the housing sector.''
''We are targeting a growth of 10 per cent in disbursements
this year'', he added.
UNI GV 1614

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