Aadhar Housing Finance Q4 results: Net profit rose 43% year-on-year to Rs 202 crore.

KOLKATA: Aadhar Housing Finance, which listed two weeks ago, on Wednesday reported a 43 per cent year-on-year rise in net profit for the March quarter at Rs 202 crore compared to Rs 141 crore in the same period last year.

Total revenue for the quarter was 67.3 billion rupees, a 25% increase over the same period last year.

Aadhar, a major lender to economically weaker sections, recorded assets under management at Rs 21,121 crore at the end of March, up 23% year-on-year. The average loan size is Rs 10 lakh.

“This growth was driven by a 20 per cent increase in expenditures. We have successfully maintained a strong debt profile and effectively controlled borrowing costs. The company’s focus has always been on long-term borrowing,” said Managing Director Rishi Anand.

Founded in 2010, Aadhar completed its initial public offering of Rs 3,000 crore on May 10. The shares were listed on the stock exchange on May 15. The IPO consisted of issue of fresh shares and offer for sale for Rs 1,000 crore. worth Rs 2,000 crore by promoter Blackstone Group unit BCP Topco VII Pte.