Home First Finance looks to raise Rs 500 cr via NCDs

Home First Finance Company India is planning to raise Rs 500 crore via non-convertible debentures in multiple tranches, the company said on Tuesday.

The bonds will be raised on a private placement basis.

The lender reported a 54% rise in net profit for the quarter to March 31 at Rs 48 crore against Rs 31 crore in the year-ago period.


It delivered nearly 30% year-on-year (YoY) growth in assets under management (AUM) which stood at Rs 5,380 crore at the end of the reporting period.

The company said its quarterly loan disbursals grew 42% year-on-year to Rs 641 crore and were the highest ever.

Its gross non-performing assets ratio stood at 2.33% with bet NPA being at 1.77%.

"On asset quality, we are continuously improving as the economy normalises and are working to bring it to pre-covid levels in a granular manner with a customer-first approach. We have witnessed significant improvements in all buckets for Q4 vs Q3, giving us the confidence to achieve pre-covid levels in FY23," the company said in a regulatory filing to stock exchanges.