Sammaan in loss as impairments surge in 4th quarter

Mumbai: Sammaan Capital, formerly Indiabulls Housing Finance, reported a loss of ₹8,101 crore in March quarter, as revenue from operations declined and impairments on financial assets surged to multi-year highs.

The non-bank lender had registered a profit of ₹324 crore in the same period last year.

Revenue from operations fell 16.4% to ₹1,762 crore from ₹2,107 crore in the year-ago quarter. Total income declined 36.2% to ₹1,361 crore from ₹2,132 crore in the same period last year.


Impairment on financial assets jumped nearly tenfold to ₹2,958 crore from ₹288.86 crore a year ago. The company also classified ₹6,499 crore as exceptional items, which account for the bulk of the reported loss.

IHC Takes Charge
The transaction with Abu Dhabi-based IHC Group has closed, with share allotment completed on March 31, 2026. IHC currently holds a 28.5% equity stake in Sammaan Capital and will increase its ownership to 43.5% upon conversion of warrants. Sammaan has received ₹5,652 crore on issuance of equity shares and a 25% upfront payment on warrants, with the balance ₹3,198 crore to be received over 18 months on warrant conversion.