Pre-provisioning operating profit stood 25% higher at Rs 798 crore against Rs 640 crore. Net total income also grew 25% at Rs 1012 crore.
Its net interest margin remained steady at 4% for the last three quarters. It is expecting a moderation in the ratio as its operating expenses are likely to rise on account of its investment in SBU and non-metro markets.
The non-deposit taking mortgage lender is targeting a 21-23% growth in assets under management amid a “heightened competitive pricing on acquisition of new loans, increased portfolio attrition coupled with moderation in real estate demand,” it said.
The lender’s AUM grew 24% year-on-year to Rs 1.20 lakh crore. Asset quality remained healthy with gross non-performing assets ratio being at 0.30%.
