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IIFL Home Finance’s AUM Crosses ₹ 35k cr

New Delhi, May 17, 2024 IIFL Home Finance Limited (IIFL HFL) has seen its Asset Under Management (AUM) increase from ₹ 28,512 cr in FY23 to ₹ 35,499 cr in FY24, witnessing a 25% YoY growth, making the company India’s largest affordable housing finance company with an average ticket size of ₹ 14.26 lac.

Basis the exchange reporting on May 6, 2024, the company with over 20% shareholding of Abu Dhabi Investments Authority (ADIA), saw its the revenue from operations rise from ₹ 2,712 cr in FY23 to ₹ 33,17 cr in FY24, recording a 23% YoY growth. The Profit After Tax saw a 32% jump from Rs 768. cr in FY 23 to Rs 1017 cr in FY 24. The NIM’s saw an improvement of 80 bps and strengthened from 6.5% in FY 2223 to 7.3% in FY24, with capital adequacy ratio of 42.7%. The Gross NPA also saw over a 60 bps improvement from 2.1% in FY23 to 1.5% in FY24. The Company has the lowest cost to income ratios amongst all affordable housing companies in the country.

Monu Ratra, ED and CEO of IIFL Home Finance, said “IIFL Home Finance remains committed to providing affordable home loans, particularly to EWS and LIG segments, with a focus on first time home buyers and women borrowers/co-borrowers. We have built a strong moat in India’s mortgage lending space and our focus on operational excellence and technology led solutions have resulted in not only growth in AUM, increase in NIMs, reduction in credit cost resulting in better profitability but also fetching more customers who believe in us. The active customer base increased from 202885 to 281514 which reimposes customers faith in the organization and its offerings”. 

IIFL Home Finance Ltd., a champion for sustainable housing practices, also secured a total funding of over $ 450 million in FY 23-24 from DFIs such as U.S. International Development Finance Corporation (DFC), International Finance Corporation (IFC), and others to support affordable and green housing for low-income and economic weaker sections. This not only reinforces IIFL HFL as a leading affordable housing company but also aligns with the government’s vision of Housing For All, promoting financial inclusion, environmental and social responsibility, and will be instrumental in addressing the affordable housing gap in India.

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