Sammaan Capital Ltd · NSE:SAMMAANCAP
Sammaan Capital — Indiabulls Housing Finance — Q3 FY2018-19 Earnings Presentation
79 slides from Sammaan Capital's earnings presentation, Feb 6, 2019
Slide 1: Indiabulls Housing Finance
Indiabulls HOUSING FINANCE
Slide 2: Contents
Contents Pg. No. 1. Business Update 03 2. Financial and Operational Highlights 15 3. Liabilities Profile 21 4. Indian Home Loans Market 26 5. Products Profile 35 6. Home Loans Distribution Model 41 7. Conservative Loan Against Property Portfolio 50 8. LAP Grading 53 9. Static Credit Performance Anal
Slide 3: Business Update
Indiabulls HOUSING FINANCE Business Update
Slide 4: Business Update: Key Financial Highlights
Business Update Key Financial Highlights: 9M FY 18-19 vs 9M FY 17-18 as per Indian Accounting Standards [IndAS] 9M FY 18-19 9M FY 17-18 YoY Growth [%] Balance Sheet 128,750 123,235 4.5% Loan Assets 124,271 106,971 16.2% Net Worth 17,792 14,798 20.2% Total Revenues 12,807 10,377 23.4% Net Interest In
Slide 5: Business Update Highlights
Business Update Highlights 1. ALM 2. Quality of Home Loans and LAP 3. Quality of Developer Loans 4. Recovery Status of Old Write-offs and Current Provisions on Loans 5. Business Going Forward 5
Slide 6: Micro ALM Details
1. Micro ALM Details [Quarter-wise details for next 10 years] Amount in ₹ Cr Particulars Total Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Cash & Cash Equivalents 21,090 21,090 16,399 13,749 11,738 9,677 10,749 12,031 9,613 Customer Repayments 99,270 4,420 4,663 4,594 4,495 4,417 4,394 4
Slide 7: Micro ALM Details
1. Micro ALM Details [Quarter-wise details for next 10 years] Amount in ₹ Cr Particulars Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Cash & Cash Equivalents 10,741 11,282 11,645 6,980 5,814 6,852 6,354 8,457 Customer Repayments 4,187 4,118 4,151 4,102 4,037 4,006 3,907 3,687 Non Current
Slide 8: Micro ALM Details
1. Micro ALM Details [Quarter-wise details for next 10 years] Amount in ₹ Cr Particulars Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Cash & Cash Equivalents 9,064 11,559 11,664 12,804 14,645 14,625 15,008 15,140 Customer Repayments 3,757 3,754 3,747 2,694 990 933 875 844 Non Current Asse
Slide 9: Micro ALM Details
1. Micro ALM Details [Quarter-wise details for next 10 years] Amount in ₹ Cr Particulars Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q3FY27 Cash & Cash Equivalents 15,934 16,518 16,284 16,738 17,205 17,851 17,425 16,449 Customer Repayments 814 791 762 742 721 701 682 662 Non Current Assets - -
Slide 10: Micro ALM Details
1. Micro ALM Details [Quarter-wise details for next 10 years] Amount in ₹ Cr Particulars Q4FY27 Q1FY28 Q2FY28 Q3FY28 Q4FY28 Q1FY29 Q2FY29 Q3FY29 Q4FY29 > 10 Yrs Cash & Cash Equivalents 17,112 18,680 19,045 17,303 17,823 13,685 12,925 12,304 11,725 11,035 Customer Repayments 642 625 607 653 448 441 4
Slide 11: Retail Loan Book of Highest Quality
2. Retail Loan Book of Highest Quality Example of last two years consolidated performance of all sold down loans of ₹ 47,278 Cr of HL and LAP Initial Pool Details of Initial POS Average Sold Down Pool Loan Pool Number of Disbursement Ticket Size Months on 180+ dpd Principal Principal Amortisation 90
Slide 12: Developer Loans Supported by Top Lease Rental Discounting Assets
3. Most Developer Loans are Supported by Top Lease Rental Discounting [LRD] Assets in Prime Locations • Lease Rental Discounting [LRD] assets exclusively mortgaged to IBH by developers are valued in excess of ₹ 26,000 Cr. by leading IPCs. These rental assets are liquid and have a low LTV. A substant
Slide 13: Recovery Status of Old Write-Offs and Provisions
4. Recovery Status of Old Write-Offs and Provisions Taken as Abundant Caution • In Q3FY19, ₹ 330 Cr of provision has been taken against Supertech Limited. Though IBH’s loan is a standard asset, this is taken as a matter of abundant caution considering issues with other projects of Supertech Limited.
Slide 14: Business Going Forward
5. Business Going Forward • IBH will deliver PAT growth of 15%-16% for the current FY • IBH will deliver PAT growth of 17%-19% for the next FY. [The core strategy of its business is to sell down pools of loans while retaining a spread door- to-door over the entire length of the loan. While total ass
Slide 15: Financial and Operational Highlights
Financial and Operational Highlights 15
Slide 16: Business Summary
Business Summary • Balance Sheet : ₹ 1.29 Lakh Cr • Loans Outstanding : ₹ 1.24 Lakh Cr : [$ 17.26 Bn] • Loan Assets CAGR [7 years] : 26% • Cumulative Loans to Retail Customers : 1,106,850 • Cumulative Loans Disbursed till date : ₹ 2.40 Lakh Cr [$ 33.34 Bn] • Cost to Income Ratio [FY18] : 12.5% • Pro
Slide 17: Balance Sheet Assets
Balance Sheet Assets 7% 16% Loan Book Cash & Cash Equivalents Other Assets 77% Current Account Balance & Fixed Deposits 9,703 Mutual Fund Investments 8,202 [available on t+1/t+2 basis] Investment in Bank CDs 2,328 Quasi-sovereign Tax-free Liquid Bonds 853 Cash in Hand 4 Total Cash and Cash Equivalen
Slide 18: Asset Composition
Asset Composition Q3 FY 17-18 Q3 FY 18-19 21% 19% 79% 81% Mortgage Loans Corporate Mortgage Loans • Home loans, which form the majority of incremental disbursals, are disbursed at an average ticket size of ₹ 24 Lakhs; average LTV of 73% [at origination] 18
Slide 19: Conservative ECL Provisions and Stable Asset Quality
Conservative ECL Provisions and Stable Asset Quality Q3 FY19 Q3 FY18 Gross Stage 3 987 825 % Portfolio in Stage 3 0.79% 0.77% ECL Provision Stage 3 247 227 Net Stage 3 739 598 Coverage Ratio % Stage 3 25% 28% Gross Stage 1&2 123,284 106,146 % Portfolio in Stage 1&2 99.21% 99.23% ECL Provision Stage
Slide 20: Asset Quality
Asset Quality Gross NPA As at Dec 31, 2018 [IndAS] % of Total [in ₹ Cr] Loan Assets 0.85% GNPA: 987 0.79% 0.77% 0.79% Stage 3 ECL Provisions: 247 0.20% NNPA: 739 0.59% Dec 16 Dec 17 Dec 18 • The stage 1&2 ECL provisions of ₹ 673 Cr have not been taken into account while calculating the Net NPA dpd:
Slide 21: Liabilities Profile
Indiabulls HOUSING FINANCE Liabilities Profile
Slide 22: Liabilities
Liabilities 14% 3% 83% Shareholders' Funds Borrowings Other Liabilities 22
Slide 23: Funding Mix
Funding Mix 3% 3% 4% 10% 10% 19% 37% 34% 31% 12% 10% 3% 40% 41% 43% Dec 16 Dec 17 Dec 18 Debentures and Securities 3-Month CP Bank Loans Sell Down ECB ECB: External Commercial Borrowing 23
Slide 24: Strengthening Liability Profile
Strengthening Liability Profile 120 ,900 1,01,700 1,07,609 100 ,900 80,9 00 Borrowings 60,9 00 5.5 Net Gearing 40,9 00 20,9 00 4.9 900 Dec 17 Dec 18 Total Funding [₹ Cr] Net Incremental Contribution to Incremental Dec 18 Dec 17 in 12 Months Borrowings in last 12 Months Bank Loans 41,179 38,669 2,510
Slide 25: Effective Pass Through: Spread within guided range
Effective Pass Through: Spread will stay within guided range Spreads Cost of Funds Loan Assets [₹ Cr] Loan Assets 7-Yr CAGR: 26% Own Book 7-Yr CAGR: 22% 12.02% 124,271 11.15% 11.36% 8.80% 8.80% 106,971 8.56% 25,001 3.46% 10,349 3.23% 3.24% 81,422 8.06% 7.92% 8,668 7.50% 7.92% 8.12% 8.56% 96,623 99,2
Slide 26: Indian Home Loans Market
Indiabulls HOUSING FINANCE Indian Home Loans Market 26
Slide 27: Indian Housing Landscape
Indian Housing Landscape Regulator Government Push RERA has brought greater Housing for All by 2022, PMAY, etc. transparency and discipline Easier Credit Flow Fiscal Incentives Infrastructure status to housing; RBI, SEBI, Tax incentives and subsidies for IRDAI eased exposure norms to mortgage buyers
Slide 28: Housing Demand in India
Housing Demand in India • Estimated housing shortage: ~ 400 Lakh houses • Drivers of incremental demand: Current population growth Demand for 34 Lakh houses p.a. @ 1.3% p.a. Ongoing nuclearisation Demand for 25 Lakh houses p.a. @ 0.9% p.a. Rising income/aspirations – per Demand for 40-50 Lakh houses
Slide 29: Housing: From Social Objective to Centrepiece Economic Policy
Housing: From Social Objective to Centrepiece Economic Policy Housing sector has the ability to propel rural and urban economic activity - Housing sector: Country’s 4th largest employment provider* employing both semi-skilled and unskilled labour - Housing and the larger real estate sector has a hig
Slide 30: PMAY and Tax Incentives for Mid-Income Affordable Housing
PMAY and Tax Incentives for Mid-Income Affordable Housing Illustration for Indiabulls Housing’s average Home Loan at headline yield of 8.90% - House value: ₹ 3,500,000 - Home loan amount: ₹ 2,400,000 [Loan to value of 70%] - PMAY subsidy : ₹ 230,156 - Net loan amount: ₹ 2,169,844 Opening Loan Intere
Slide 31: EMI Smaller than Rent Cheque
EMI Smaller than Rent Cheque: PMAY and Tax Incentive for Mid-Income Affordable Housing Rental Yield v/s Home Loan Cost 5.0% 4.0% 3.4% 3.5% 3.9% 3.1% 3.4% 3.2% 2.3% 2.9% 2.6% 2.6% 2.7% 0.67% Rental yield Effective Interest Rate on Home Loans with PMAY [0.67%] Source: NHB; Industry reports Increasing
Slide 32: Growth Momentum in Residential Real Estate
Growth Momentum in Residential Real Estate • Housing sales in Bengaluru, Hyderabad, Chennai and NCR collectively grew by 18% YoY in H2CY181 • Stock of unsold inventory has fallen 29% since H1CY161 Sales Pick-up • Over ~242,000 residential units were sold in CY18 across India vs. ~228,000 in CY171 •
Slide 33: Commercial Office Space Absorption
Commercial Office Space Absorption • Net absorption for CY18 projected at 33 Mn. sq. ft., up 16% YoY; to cross 39 Mn. sq. ft by CY201 • 47 Mn sq. ft. leased during CY18 across top Indian cities, up 5% YoY2 • Transactions up 12% in CY18, recording highest transaction volumes achieved in the decade3 P
Slide 34: Strong Structural Drivers and Government Focus
Strong Structural Drivers and Government Focus Measures in the last 33 months: Boost to the Housing Sector Pradhan Mantri Subsidy eligibility under Pradhan Mantri Awas Yojana [PMAY] covers up to ₹ 12 lakh of home loan – Awas Yojana [PMAY] reduces effective home loan rates to 0.67% for mid-income aff
Slide 35: Product Profiles
Indiabulls HOUSING FINANCE Product Profiles
Slide 36: Home Loan Profile: Focus on Mid-Income Affordable Housing
Home Loan Profile: Focus on Mid-Income Affordable Housing Average Loan Size ₹ 24 Lakhs Maximum Loan to Value 80% Average Loan to Value 73% [at origination] Average Loan Term 15 years Average Customer Age 38 years Primary Security Mortgage of property financed Repayment Type Monthly amortizing • PMAY
Slide 37: Smart City Home Loan
Smart City Home Loan: Technology-led cost-effective Geographical Expansion through eHome Loans platform Minimum Loan Size ₹ 10 Lakhs Average Loan Size ₹ 15 Lakhs Maximum Loan Size ₹ 40 Lakhs Maximum Loan to Value 80% [at origination] Maximum Loan Term 20 years Average Customer Age 39 years Primary S
Slide 38: Consumer Focused Mid-Income Housing Loans
Consumer Focused Mid-Income Housing Loans: Granular, Low-risk, Prime Home Loans Typical Annual Distribution Ticket Size Core Customer Segment Household Income Count Amount ₹ 15 Lakhs – ₹ 50 Lakhs Urban Mid-Income Affordable Home Loans ₹ 6 Lakhs– ₹ 18 Lakhs 51% 56% [$ 21,000 - $ 69,500] Prime mid-inc
Slide 39: Loan Against Property Product Profile
Loan Against Property Product Profile Average Loan Size ₹ 73 Lakhs Maximum Loan to Value 65% Average Loan to Value 49% [at origination] Average Loan Term 7 years Primary Security Mortgage of property financed Repayment Type Monthly amortizing Average Age of Business 7 years Basis of Credit Appraisal
Slide 40: Static Performance of Total LAP Portfolio
Static Performance of Total LAP Portfolio • Four cycles are through for the LAP product where average repayment period is about three years • Pre-FY11 LAP portfolio has amortised 95%, is of eight years’ vintage with 90+DPD% [incl. write-off] of only 0.13% Evident in Portfolio Performance Financial D
Slide 41: Home Loans Distribution Model
Home Loans Distribution Model: Analytics and Technology-led Next Phase of Growth 41
Slide 42: Evolution of Home Loans Distribution Model
Evolution of Home Loans Distribution Model Thus Far Pre 2005: • Entirely branch based. Multiple customer visits to the branch. Branch-based • Long-drawn process usually taking 20+ days Fulfillment • Tedious process for subsequent disbursals [Dominance of PSBs] • Multiple visits for on-going loan man
Slide 43: Indiabulls Digital Home Loan Technology Platform
Indiabulls Digital Home Loan Technology Platform Digital Home Loan Technology Platform Social Media Access to Developers Fee Customers Analytics Integration Source Data and DSAs Generation One app for all Automated Product Real-time access Shorter working Cross-sell: needs underwriting personalisati
Slide 44: Comprehensive Customer Coverage and Processing Capacity
Comprehensive Customer Coverage; Scalable Processing Capacity and Robust Risk Management Robust credit underwriting Ring of touch points Technology-driven, elastic, scalable loan rigour, risk management encircling target customers processing capacity practices and process integrity Digital Channels
Slide 45: Retail Mortgage Loan Sourcing
Retail Mortgage Loan Sourcing 24% 5% 6% 65% Direct Sales Team External Channels Branch Walk-ins eHome Loans • 30% of home loans’ sourcing is now through eHome Loans. Including LAP, 24% of all retail mortgage loans’ sourcing is now through eHome Loans • Over 90% of incremental sourcing is done in-hou
Slide 46: Pan-India Brick-and-Mortar Branch Network
Pan-India Brick-and-Mortar Branch Network Head Master office Service • Core credit Centers committee [MSC] Branches • Loans above • Regional credit pre-defined • • • Walk-in hub limits go to the • Service branches • • Detailed credit committee Centers • Customer analysis • Customer interaction • • •
Slide 47: Unique Franchise in Indian Mortgage Market
Unique Franchise in Indian Mortgage Market Consumer focused scalable lending model Strengths similar to Banks Scalability of Mortgage • Access to deep pools of capital: debt and equity • Focused on the most scalable and secure asset class: Home Loans • Funding efficiencies from highest AAA credit ra
Slide 48: eHome Loans: Digitised Workflow
eHome Loans: Digitised Workflow, Analytics driven Underwriting and Digital Payments Infrastructure Customer eHome Loan App and Portal IB Systems Toughpoints Application form Document upload e-sign Lead Sources Income proof directly Digitally enabled e-signs Data directly flows Basic information fill
Slide 49: eHome Loans: Digitised Workflow
eHome Loans: Digitised Workflow, Analytics driven Underwriting and Digital Payments Infrastructure Sanctioning e-sign and instant Servicing Verifications Automated Credit Decisioning Disbursement Parallel reports Post application the following are On request for disbursement, customer Self Service t
Slide 50: Conservative Loan Against Property Portfolio
Conservative Loan Against Property Portfolio 50
Slide 51: Loan Against Property Product Profile
Loan Against Property Product Profile Average Loan Size ₹ 73 Lakhs Maximum Loan to Value 65% Average Loan to Value 49% [at origination] Average Loan Term 7 years Primary Security Mortgage of property financed Repayment Type Monthly amortizing Average Age of Business 7 years Basis of Credit Appraisal
Slide 52: Loan Against Property: Cashflow based underwriting
Loan Against Property: Cashflow based underwriting Loan repayments are immune from fluctuations in residential price inflation 28% 25% 27% 19% 21% 21% 22% 19% 23% 20% 21% 3-Year Amortization Experience 11% for IBH 6% 7% 2% 16% 14% 14% 3% 3% 5% 2% Contracted Amortization 23% 2008 2009 2010 2011 2012
Slide 53: LAP Grading
LAP Grading A Pioneering Initiative for Improved Risk Management and Greater Transparency 53
Slide 54: Loan Against Property Grading from CRISIL
Loan Against Property Grading from CRISIL • 15th quarter of industry-pioneering LAP grading initiative • Sourcing quality sustained through transition to GST • LAP grading engagement with CRISIL [a Standard and Poor’s Company] - CRISIL grades LAP loans on aspects such as past payment track record; n
Slide 55: CRISIL LAP Grading Methodology
CRISIL LAP Grading Methodology Detailed assessment of key factors determining quality of LAP loans Financial Strength Business Management • Interest and debt service cover • Business sector and sectoral prospects • Revenues, margin and profitability • Business duration and track record • Networth an
Slide 56: CRISIL LAP Grading
CRISIL LAP Grading Grading Segment Characteristics Total Interest Disbursals Outstanding Grading Quality of Service Loan to EBITDA Apr 15 –Sep Liabilities/ Scale LAP Loans# Coverage Value [LTV] Margins 17 Total Ratio [ISCR] Networth Over 99% of LAP1 Highest 8.35% 10.3 – 13.3 1.3 – 1.4 49% 15% – 19%
Slide 57: ICRA LAP Grading Methodology
ICRA LAP Grading Methodology [2nd rating agency to grade LAP loans] • ICRA LAP Grading reflects ICRA’s assessment of the credit quality of the LAP loan on a ICRA developed customised scale Grading Assessment Parameters Collateral Quality and Business and Business Owner Loan Attributes Enforceability
Slide 58: ICRA LAP Grading
ICRA LAP Grading Grading Characteristics Level of credit Grading Grading Scale Median LTV Median FOIR worthiness Distribution LAP1 Excellent 12.2% 25% 32% Over 99% of LAP2 Good 67.5% 54% 50% incremental LAP loans are within the top LAP3 Average 20.1% 65% 58% three grades LAP4 Below Average 0.1% 61%
Slide 59: Static Credit Performance Analysis of LAP and HL Pools
Static Credit Performance Analysis of LAP and HL Pools 59
Slide 60: Home Loans Pool Performance Factsheet: CRISIL Direct Assignments
Home Loans Pool Performance Factsheet: CRISIL Direct Assignments [Sold Down] Initial Pool Details of Initial POS Sold Down Sold Down Disbursement Pool Principal Amortisatio Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] n# [₹ Cr] 1 Bank 4 20-Mar-14 345.2 292.3 57 4
Slide 61: Home Loans Pool Performance Factsheet: CRISIL Direct Assignments
Home Loans Pool Performance Factsheet: CRISIL Direct Assignments [Sold Down] Initial Pool Details of Initial POS Sold Down Sold Down Disbursement Pool Principal Amortisatio Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] n# [₹ Cr] 26 Bank 8 31-Mar-16 59.8 50.6 32 11
Slide 62: Home Loans Pool Performance Factsheet: CRISIL Direct Assignments
Home Loans Pool Performance Factsheet: CRISIL Direct Assignments [Sold Down] Initial Pool Details of Initial POS Sold Down Sold Down Disbursement Pool Principal Amortisatio Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] n# [₹ Cr] 51 Bank 8 30-Apr-18 174.6 146.1 8 1
Slide 63: LAP Pool Performance Factsheet: CRISIL Direct Assignments
LAP Pool Performance Factsheet: CRISIL Direct Assignments [Sold Down] Initial Pool Details of Initial POS Sold Down Sold Down Disbursement Pool Principal Amortisatio Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] n# [₹ Cr] 1 Bank 3 31-Dec-13 224.4 178.6 59 9.0 96%
Slide 64: LAP Pool Performance Factsheet: CRISIL Direct Assignments
LAP Pool Performance Factsheet: CRISIL Direct Assignments [Sold Down] Initial Pool Details of Initial POS Sold Down Sold Down Disbursement Pool Principal Amortisatio Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] n# [₹ Cr] 25 Bank 14 30-Mar-17 415.9 340.5 20 182.1
Slide 65: Home Loans and LAP Pool Performance Factsheet
Home Loans and LAP Pool Performance Factsheet Pass-Through Certificates HL Pools Initial Pool Details of Initial POS Sold Down Sold Down Disbursement Pool Principal Amortis- 90+ 180+ Outstanding Sr No Investor Principal MPS CCR MCR QCR Date [₹ Cr] [₹ Cr] ation# dpd % dpd % Rating from [₹ Cr] 1 Bank
Slide 66: Corporate Social Responsibility
Corporate Social Responsibility 66
Slide 67: Indiabulls Foundation: Corporate Social Responsibility
Indiabulls Foundation: Corporate Social Responsibility Health Free Mobile Medical Vans Transforming Mokhada, Shahapur Transforming Talukas - Free primary healthcare facility provided at & Trimbakeshwar doorsteps for the underprivileged - Medical vans, clinics, health camps, nutrition - 6 vans added
Slide 68: Board of Directors, Ratings, Valuations, and Shareholding
Board of Directors, Ratings, Business Value Proposition, Key Ratios, Valuations, and Shareholding 68
Slide 69: Eminent and Experienced Board of Directors
Eminent and Experienced Board of Directors Board of Directors with pre-eminence and experience in diverse fields • Mr. Sameer Gehlaut : Executive Chairman • Mr. Gagan Banga : Vice Chairman, Managing Director and CEO • Mr. S.S. Mundra : Former Deputy Governor, The Reserve Bank of India • Dr. K.C. Cha
Slide 70: Credit Ratings and Auditors
Credit Ratings and Auditors Rating Agency Long Term Credit Rating CRISIL [an S&P Global Company] AAA ICRA [a Moody’s Investors Service Company] AAA CARE Ratings AAA Brickwork Ratings AAA Auditors Statutory Auditor Ernst & Young Internal Auditor Grant Thornton Stock Auditor for Lenders Deloitte Haski
Slide 71: Rising Productivity Ratios
Rising Productivity Ratios FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 No. of Employees 4,512 4,243 4,072 4,099 4,840 5,453 6,388 8,111 Profit per 0.17 0.24 0.31 0.38 0.39 0.43 0.46 0.47 employee [₹ Cr] Asset per 3.71 5.85 8.09 10.84 11.82 14.02 16.23 16.26 employee [₹ Cr] Cost-t
Slide 72: Key Financial Metrics
Key Financial Metrics FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 Pre Tax RoAA [%] 5.5% 4.9% 4.9% 4.8% 4.9% 4.9% 4.6% 4.3% Post Tax RoAA [%] 4.1% 3.7% 3.8% 3.8% 3.7% 3.7% 3.6% 3.3% RoE [%] 17.2% 22% 26% 27% 29% 26% 26% 30% Capital Adequacy 23.87% 19.96% 18.58% 20.47% 19.60% 23.38
Slide 73: Valuations and Returns
Valuations and Returns Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Dec-18 Market Price per Share [₹] 155 207 272 286 558 674 998 1,194 673* Dividend per Share [₹] 10 13 20 29 35 36 36 42 30* Dividend Yield [%] 6.5% 6.3% 7.4% 10.2% 6.3% 5.3% 3.6% 3.5% 5.9% Market Capitalisation 4.8 6.5 8.
Slide 74: Shareholding Pattern
Shareholding Pattern 8.7% 21.5% 13.8% 56.0% Founder Foreign Institutional Shareholding MFs/Banks/IFI Public MF: Mutual Funds; IFI: Indian Financial Institutions As on 31st Dec, 2018 74
Slide 75: Detailed Financials
Indiabulls HOUSING FINANCE Detailed Financials 75
Slide 76: Consolidated Balance Sheet
Consolidated Balance Sheet Current Account Balance & Fixed 9,703 Deposits Mutual Fund Investments 8,202 [available on t+1/t+2 basis] Investment in Bank CDs 2,328 Quasi-sovereign Tax-free Liquid Bonds 853 Cash in Hand 4 Total Cash and Cash Equivalents 21,090 Amount in ₹ Cr The company had cash, cash
Slide 77: Consolidated Income Statement
Consolidated Income Statement Full Corporate Social Responsibility [CSR] expenses of ₹ 69.2 Cr for FY 2018-19 have been taken in Q3FY19. Adjusted for CSR and credit costs, operating expenses for Q3FY19 was ₹ 255.1 Cr compared with ₹ 261.1 Cr in Q2FY19 Compared with Q2FY19, a higher expense of ₹ 14.7
Slide 78: Safe Harbour Statement
Safe Harbour Statement This document contains certain forward-looking statements based on current expectations of Indiabulls Housing Finance Ltd.’s [CIN: L65922DL2005PLC136029] management. Actual results may vary significantly from the forward-looking statements in this document due to various risks
Slide 79: Thank you
Indiabulls HOUSING FINANCE Thank you
Indiabulls Housing Finance — Q3 FY2018-19 Earnings Presentation on 6ix