On the asset quality front, the housing finance company's gross non-performing assets (NPAs) stood at Rs 1,754 crore as on 31 March 2024 as against Rs 1,918 crore as on 31 March 2023.

The ratio of gross NPAs to gross advances stood at 2.69% as on 31 March 2024 as against 2.86% as on 31 March 2023.

The ratio of net NPAs to gross advances stood at 1.52% as on March 2024 as against 1.90% as on March 2023.

Net interest income stood at Rs 964 crore in Q4 FY24 as against Rs 735 crore recorded in corresponding quarter previous year.

For FY24, the company’s consolidated net profit increased 7.92% to Rs 1,216.97 crore on 1.16% decline in total income to Rs 8,624.77 crore as compared to FY23.

Meanwhile, the board recommended a final dividend of Rs 2 per equity share for the financial year 2023-24, subject to the approval by the shareholders.

Further, the board of directors approved raising of funds up to an aggregate amount of Rs 3500 crore, through the issuance of equity shares and/or any other convertible or exchangeable securities, including but not limited to, warrants, depository receipts, FCCBs, FCEBs or any combination thereof, by way of a public or preferential offer, a private placement, follow-on public offering, rights issue, qualified institutions placement or a combination thereof, or such other methods or combinations as may be decided, in India or overseas, as may be considered appropriate, subject to shareholders, statutory and/or regulatory approvals; and regulatory requirements, as applicable.

Indiabulls Housing Finance is a housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.