Adar Poonawalla-controlled non-banking finance company Poonawalla Fincorp on Thursday said its total disbursements rose by 44% during the second quarter of the current fiscal.
Total disbursements were Rs 3,720 crore on a consolidated basis in the year-ago quarter. Sequentially, disbursements rose by 8% in the July-September quarter.
Of the total disbursements during Q2FY23, organic disbursements contributed to about 97% as against 80% in Q1FY23.
On the asset management front, the company's AUMs were Rs 18,550 crore as of Sept. 30, 2022, up by 21% compared to the year-ago period.
This was despite a sharp reduction in the discontinued loan book which stood at approximately Rs 1,300 crore, the company said in a release.
The housing loan subsidiary of the company, Poonawalla Housing Finance Ltd., had AUMs of about Rs 5,600 crore as of September 2022.
Poonawalla Fincorp said its gross and net non-performing assets are expected to be below 1.6% and 0.9% respectively as of Sept. 30, 2022.
The company would strive to maintain the NNPA below 1% in line with its Management Vision 2025, it said.
The NBFC said it continues to have ample liquidity of Rs 4,730 crore.
Rising Sun Holdings, a company controlled by Adar Poonawalla has a 61.49% stake in the company.
Poonawalla Fincorp shares closed higher by 1.98% at Rs 322.05 on Thursday.
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