Hero Housing Finance Ltd Financials-
Parameters (Rs billion) | FY21 | FY20 |
Interest Income | 2.24 | 1.29 |
PAT | -0.19 | -0.32 |
Debt | 21.69 | 15.42 |
CRAR (%) | 27.53 | 31.71 |
NNPA (%) | 1.19 | 0.05 |
Parameters (Rs billion) | H1FY22 | H1FY21 |
Total Income | 1.43 | 1.10 |
PAT | -0.08 | -0.14 |
Loan Book | 24.73 | |
Gross NPA | 2.20 | 0.70 |
Leverage | 5.40 | 6.20 |
Hero Housing Finance Ltd (HHFL), a wholly owned subsidiary of Hero Fin Corp Ltd, was incorporated in June 2016 and received the licence from National Housing Bank in August 2017 for providing housing finance. HHFL�s operating area includes home loans, loans against property, non-residential property, and construction finance.
Credit Rating-Hero Housing Finance has been rated as AA+ with stable outlook by CRISIL. Hero Fincorp Ltd has been rated as AA+ by CRISIL and ICRA.
Strong Parentage-Being 100% subsidiary of Hero Fincorp Ltd, HHFL receives financial, managerial and strategic support from it. Consequently, it enables the company to expand its business. As of 30th Sep 2021, HHFL�s loan book stood at Rs 24.73 billion as compared to Rs 23.69 billion as of 31st March 2021.
Capitalization- As on 30th September 2021, HHFL�s net-worth stood at Rs 4.19 billion while gearing was 5.4 times as compared to Rs 4.26 billion of net worth and 5.2 times of leverage respectively, as of 31st March 2021. The company�s capital adequacy stood at 27.53% as of FY21 from 31.71% as of FY20.
Operating performance- Owing to early stage of operation, HHFL suffered losses in last two fiscal years. During H1FY22, its loss stood Rs 0.08 billion as compared to loss of Rs 0.14 billion in H1FY21.
Asset quality-As of 30th Sep 2021, HHFL�s gross NPA deteriorated to 2.20% from 0.7% as of 30th Sep 2020.