New Delhi: Post the merger with DHFL Vysya Housing Finance, strategic moves and geographical spread through the year, FY 2017-18, Aadhar Housing Finance Ltd has shown remarkable performance and rapid growth.

 

Aadhar Housing Finance, as a merged entity on comparable basis, has reported a rise of 103% per cent in net profit compared to the last financial year. In the financial year 2017-18, the company has reported a profit of Rs. 100 cr compared to Rs. 49 cr in FY 2016-17.

 

The total income increased to Rs. 798 cr from Rs. 543 cr in the year-ago period.

The loan disbursement during the year FY 2017-18 is Rs. 3905 crores as against Rs. 2338 crores in FY 2016-17. The Gross Retail NPA(on AUM) is at 0.58% as on March 31, 2018.

 

The total assets under management (AUM) grew to Rs. 7966 Cr crore by the end of FY 2017-18 from Rs. 4991 crores in FY 2016-17.

 

“The ‘Housing for all’ scheme has given a big boost to the affordable housing finance segment, as the result of which the performance of the merged entity has been excellent for the FY 2017-18. Aadhar expects to achieve 60% growth in disbursements by adding 75000 new accounts in the current year, while maintaining the NPA at 0.5%.” said Mr. Deo Shankar Tripathi, Managing Director and CEO, Aadhar Housing Finance Ltd.

 

Aadhar is committed to widen its reach to populations that are unbanked yet creditworthy. While expanding, they will remain dedicated to uplifting the lives of millions. Customer centricity is their focus for which they have planned to increase its spoke locations from the existing 1500 to 2500 in the tier 2,3,4 cities/towns and provide the benefit of Pradhan Mantri Awaas Yojana. These new spoke locations will be a part of the new ‘Alternate Channel’ of Aadhar and will have a devoted manpower for sourcing and servicing the customers.

 

To service the customers efficiently and to decrease the turnaround time (TAT), Aadhar has set up a digital Central Processing Unit (CPU) in Mumbai. This will help Aadhar to expand its reach and enrich the customer experience. They are continuously investing in technology to facilitate the low income segment in the suburban locations, who are not tech savvy by implementing VOICE (IVR based messages) and VIDEO (customer awareness series etc.) based communications in the regional languages.

 

Aadhar is also offering an attractive fixed deposit (CRISIL rating FAA) scheme that not only provides good returns but also provides loan facility on FD to meet urgent requirements.