Bajaj Housing Finance Limited has released quarterly results for the first time after its IPO on Monday (October 21). 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 ₹ 546 crore. It was ₹451 crore in the same quarter last year.
In the July-September quarter, the company's revenue from operations increased by 26.11% on an annual basis to Rs 2,410 crore, which was Rs 1,911 crore in the same quarter last year.
Company's net interest income increased by 13% in September quarter
In the September quarter, Net Interest Income (NII) of Bajaj Housing Finance Company increased by 13% on year-on-year (YoY) basis to Rs 713 crore. It was Rs 632 crore in the same quarter last year.
The company's shares fell 1.82% today and closed at Rs 136.80.
Shares of Bajaj Housing Finance closed 1.82% lower at Rs 136.80 on Monday. The market cap of the company 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 of Bajaj Housing Finance opened on 9 September and closed on 11 September. This IPO was subscribed a total of 67.43 times. Whereas in the retail category, the IPO total was filled 7.41 times. Its price band is Rs 66-70 per share. Bajaj Housing Finance had raised Rs 6,560 crore through IPO.
Bajaj Housing Finance was listed on 16 September
Bajaj Housing Finance was listed on 16 September. The company's shares were listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) 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 gain of 9.99%.
Bajaj Housing Finance is a non-deposit taking HFC
Bajaj Housing Finance is a non-deposit taking housing finance company (HFC), established in 2008. The company is registered with the National Housing Bank (NHB) since 2015 and offers 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 March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
Graphics Source: VaskarAssets
