Bajaj Housing Finance has released the September quarter results, in which the company has made huge profits. Bajaj's net profit has increased by 21 percent to Rs 546 crore. The housing finance company had registered a net profit of Rs 451 crore in the same quarter a year ago. This is the first quarterly result after the company was listed on the stock exchanges last month. Bajaj Housing Finance told the stock market that during the quarter under review, its total income has increased from Rs 1,912 crore to Rs 2,410 crore on an annual basis.
The company recorded interest income of Rs 2,227 crore in the September quarter, compared to Rs 1,782 crore in the same period a year ago. However, the asset quality of the company deteriorated and NPA increased to 0.29 percent of total loans by the end of September 2024. This figure was 0.24 percent a year ago. Similarly, net NPA increased from 0.09 percent to 0.12 percent.
Let us tell you that when the company's shares were listed in the market, it increased by about 136 percent from the issue price of Rs 70 in the first day of trading and closed at Rs 165. Due to strong rise in share price, the market cap of Bajaj Housing Finance Limited came to Rs 1,37,406.09 crore at the end of trading. With this, Bajaj Housing Finance became the largest housing finance company in the country.
Bajaj Housing Finance's Rs 6,560 crore IPO was subscribed 63.60 times on September 11, the last day of bidding. The price band for the issue was kept at Rs 66-70 per share. The share sales were done in compliance with the rules of the Reserve Bank of India. According to this, it is necessary for leading non-banking financial companies to be listed on the stock exchanges by September 2025. This firm provides finance for purchase and investment of housing and commercial assets.
