Capitaline

Analyst Meet / AGM 19-Jan-17

Conference Call

Can Fin Homes

Growth momentum to continue, loan book to touch Rs 13500 crore by March 2017

Can Fin Homes conducted a conference call on 18 January 2017 to discuss the financial performance for quarter ended December 2016. Sarada Kumar Hota - Managing Director addressed the call:
Highlights:

The company did not felt much impact from demonetization on its overall business, though some moderation was witnessed in November 2016. The collection performance of the company was intact post demonetization, as most collection is done through electronic mode.
The loan book growth of the company remained strong at 28% to Rs 12688 crore at end December 2016, driven by robust 25% increase in disbursements to Rs 1207 crore. The fresh approvals also jumped 24% to Rs 1351 crore in Q3FY2017. The company expects its loan book on track to touch Rs 13500 crore level by March 2017.
About three-fourth of the loan book is contributed by the southern states, and 20% comes from NCR and balance from other states. The company has network of 120 branches and 50 satellite offices spread across 19 states.
The company has posted robust 39% jump in Net Interest Income to Rs 110.33 crore, while PAT galloped 41% to Rs 59.60 crore.
About 77% of the total loan book was contributed by salaried and professional segment at end December 2016. About 88% loans were in housing segment and balance towards non-housing segment. In housing finance segment, more than half of the book is in affordable housing segment.
About half of the business is sourced from direct business channels. The commission for loans sourced from agents in the housing finance stands at 0.35% and non-housing at 0.5%.
Asset quality continued to be robust with GNPA ratio at 0.24% at end December 2016 and NNPA ratio at negligible level of 0.01% at end December 2016. As per the company, the fresh slippages of loans for 9MFY2017 were lower than that in Q1 of FY2016.
Provision coverage ratio (PCR) of the company has further improved to 94% at end December 2016 from 88% a quarter ago and 85% a year ago. The company expects the PCR to improve to 100% by end March 2017.
The LTV ratio for LAP book stands below 50%.
The company has exhibited improved cost to income ratio of 17.15% in Q3FY2017 from 18.88% in Q3FY2016.
The company has further improved NIMs to 3.49% in Q3FY2017 from 3.44% in the preceding last quarter and 3.17% in the corresponding quarter last year. The cost of borrowing for the company has declined from 8.99% at end December 2015 to 8.48% at end December 2016.
The share of bank borrowings was flat at 20% at end December 2016 over end December 2015. On the other hand, the share of market borrowing has jumped to 48% at end December 2016 from 40% at end December 2015.
The company is completing 30 years of operation in October 2017, and plans to convert its 30 satellite offices as CanFin Affordable Housing Centers over next three quarters

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