Shriram Housing Finance sees AUM growth of 47% YoY to Rs 4,606 crore in Q3FY22

CHENNAI: Affordable housing finance company Shriram Housing Finance Ltd has announced the strong Assets Under Management (AUM) growth of 47% YoY to Rs 4,606 crore in the December quarter, 2021.
The AUM growth is driven by robust disbursement growth rate of 29% YoY to Rs 768 crore, backed by investments made in widening the distribution network. Within the affordable housing finance landscape, Shriram Housing Finance now has the widest distribution network in South India.
The disbursals in the third quarter are the highest quarterly originations since inception, said the management. Its collection efficiency has been better than the pre-Covid levels (99.4%) and asset quality improved by 68 bps YoY with Stage -3 asset at 1.72%(excl impact of RBI circular dated 12 Nov). With RBI circular impact the Gross Stage -3 assests were at 2.47%. Profit after Tax grew by 21% YoY to Rs 58 crore in 9MFY22 and 53% QoQ in Q3FY22. The lender is focused on growth through the targeted expansion into new geographies.