Bajaj Housing Finance profit climbs 21%

Bajaj Housing Finance (BHFL) on Wednesday reported a 21% year-on-year increase in its net profit to ₹583 crore for the June quarter.

- Geeta Nair

Assets under management (AUM) grew 24% to ₹1.20 lakh crore. However, the AUM growth was affected owing to intense competition and a marginal decline in real estate demand. The net interest margin (NIM) remained stable at 4%.

The asset quality continued to be strong with gross NPA ratio of 0.30% and net NPA ratio of 0.13%. The annualised credit cost stood at 0.16%.