Bajaj Housing Finance Limited on Monday (21 October) released its quarterly results for the first time after its IPO. The company’s net profit in Q2FY25 i.e. the second quarter (July-September) of the financial year 2024-25 increased by 21% year-on-year to Rs 546 crore. It was Rs 451 crore in the same quarter last year.
At the same time, in the July-September quarter, the company’s revenue from operations grew 26.11% year-on-year to Rs 2,410 crore, from Rs 1,911 crore in the same quarter last year.
Net interest income increased by 13% in the September quarter
In the September quarter, the net interest income (NII) of Bajaj Housing Finance Company grew 13% year-on-year (YoY) to Rs 713 crore. It was Rs 632 crore in the same quarter last year.
The company’s stock today fell 1.82% to close at Rs 136.80
Shares of the company fell 1.82% to close at Rs 136.80 on Monday. The company’s market cap has reached Rs 1.14 lakh crore. Bajaj Housing Finance is a subsidiary of Bajaj Finance.
Bajaj Housing Finance IPO opened on 9 September
The IPO opened on 9 September and closed on 11 September. This IPO was subscribed a total of 67.43 times. In the retail category, the IPO was subscribed a total of 7.41 times. Its price band is Rs 66-70 per share. The company raised Rs 6,560 crore through the IPO.
On 16 September, they listed Bajaj Housing Finance
The company listed itself on 16 September. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) listed the company’s shares at ₹ 150, which was 114.29% higher than the issue price of ₹ 70. Then after the day’s trading, it closed at ₹ 164.99 with a rise of 9.99%.
Bajaj Housing Finance is a non-deposit taking HFC
It is a non-deposit taking housing finance company (HFC), established in 2008. The company has been registered with the National Housing Bank (NHB) since 2015 and has offered mortgage loans since FY 2018.
The company is part of the Bajaj Group, which offers a range of mortgage products including home loans, loans against property, lease rental discounting and developer financing. As of 31 March 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
