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Indiabulls Housing Finance (IBHFL) posted a net profit of Rs. 1,044.1 crores during the July-September quarter of the current fiscal, a 21.2 per cent jump as against Rs. 861.3 crores net profit earned during July-September quarter of 2017-18.
According to the financial report submitted by the company to the stock exchanges, the total revenue of the company stood at Rs. 4,255.27 crores during the Q2 FY19 as against Rs. 3,452.45 crores in total revenue in the year-ago period.
As per the statement released by the IBHFL, the company closed in September 2018 with cash and liquid investments of Rs 21,249.7 crores.
The statement also read, “Maintaining adequate liquidity has been a long-standing operating principle of IBHFL’s business. Moreover, IBHFL follows a liquidity framework guided by Basel III and is in line with liquidity ratios prescribed for banks.”
Gagan Banga, IBHFL’ Vice Chairman and MD said, “Home sales, especially in our core segment of mid-income affordable housing have been strong and strengthening by the passing day. We are very well positioned to grow our business by 20 per cent plus in the current macro environment”.
