Sammaan Capital Ltd · NSE:SAMMAANCAP
Sammaan Capital — Indiabulls Housing Finance — Investor Presentation (October 2019)
73 slides from Sammaan Capital's investor presentation, Oct 30, 2019
Slide 1: Indiabulls Housing Finance
Indiabulls HOUSING FINANCE
Slide 2: Contents
Contents Pg. No. 1. Business Update 03 2. Reduction in Commercial Real Estate Exposure 04 3. Adequate Provisioning Buffer and Strong Track Record of Recoveries 05 4. Addressing the Misinformation on Social Media 06 5. Gaining Strength Through the Liquidity Crisis 08 6. Projected Liquidity Framework
Slide 3: Business Update
Business Update Key Financial Highlights: Q1 FY 19-20 vs Q1 FY 18-19 as per Indian Accounting Standards [IndAS] Q1 FY 19-20 Q1 FY 18-19 YoY Growth [%] Balance Sheet 1,20,947 1,38,236 -12.5% Loan Assets 1,13,189 1,25,628 -9.9% Net Interest Income [without sell down upfront Income] 1,475 1,690 -12.7%
Slide 4: Reduction in Commercial Real Estate Exposure
Reduction in Commercial Real Estate Exposure • Since April 2019, in under three months, IBH has reduced its CRE exposure by ₹ 6,005 Cr through refinance etc. • These assets have been bought/ refinanced by some of the most marquee names in the industry, which is a testament to the quality of our deve
Slide 5: Adequate Provisioning Buffer and Strong Track Record of Recoveries
Adequate Provisioning Buffer and Strong Track Record of Recoveries • ₹ 1,932 Cr have been recovered in the last five years, which corresponds to 71% of the ₹ 2,735 Cr of incremental slippages in this period of cases of > ₹ 10 Cr exposure • Secured loan assets ensure a high degree of recoverability a
Slide 6: Addressing the Misinformation on Social Media
Addressing the Misinformation on Social Media • Misinformation on social media circulated with the objective of scuttling the merger with Lakshmi Vilas Bank • To quell these rumours once and for all, Indiabulls Housing Finance has decided to voluntarily submit its sources of equity funds in public d
Slide 7: Addressing the Misinformation on Social Media [Sources of Equity Funds]
Addressing the Misinformation on Social Year 2000 Media [Sources of Equity Funds] Year 2005 Year 2009 Year 2015 S/No. Investors Investment S/No. Investors Investment S/No. Investors Investment S/No. Investors Investment 1 LNM India Internet Ventures Ltd 4.3 42 Dexia Asset Management Belgium SA 0.1 7
Slide 8: Gaining Strength Through the Liquidity Crisis
Gaining Strength Through the Liquidity Crisis: Elongated Liabilities, Low Gearing, High CRAR, AAA Ratings Reaffirmed Before Sector Issues Current Period Parameters [Aug 2018] [21st Sep 2018 to 30th Jun 2019] Money raised in Preceding 9 Months [₹ Cr] 45,954 60,781 Spread [%] [Q1FY20] 3.23% 3.14% Comm
Slide 9: Projected Liquidity Framework Results Based on Draft RBI Circular
Projected Liquidity Framework Results Based on Draft RBI Circular dated May 24, 2019 30-day Liquidity Coverage Ratio High Quality Liquid Assets Liquidity Coverage Ratio [LCR] 30-day Net Cash Outflows Stressed Outflows – Min. of [Stressed Inflow or 75% of Stressed Outflow] High Quality Liquid Assets
Slide 10: Asset Quality: Conservative Provision Levels
Asset Quality: Conservative Provision Levels Q1 FY20 Q4 FY19 Gross Stage 3 1,662 1,061 % Portfolio in Stage 3 1.47% 0.88% ECL Provision Stage 3 416 228 Net Stage 3 1,246 832 Coverage Ratio % Stage 3 25% 22% Gross Stage 1&2 1,11,527 1,19,464 % Portfolio in Stage 1&2 98.53% 99.12% ECL Provision Stage
Slide 11: Diversified Liability Profile, Low Leverage
Diversified Liability Profile, Low Leverage 1,16,147 1,40 ,900 98,226 1,20 ,900 Borrowings 1,00 ,900 80,9 00 60,9 00 6.0 Net Gearing 3.8 40,9 00 20,9 00 900 Jun 18 Jun 19 Total Funding [₹ Cr] Net Incremental in Jun 19 Jun 18 12 Months Bank Loans 44,139 43,353 786 Debentures and Securities 48,221 50,
Slide 12: Effective Pass Through: Spread Stay Strong
Effective Pass Through: Spread Stay Strong Spreads Cost of Funds Loan Assets [₹ Cr] Loan Assets 7-Yr CAGR: 21% Own Book 7-Yr CAGR: 18% 11.63% 12.05% 9.21% 1,25,628 1,13,189 10.86% 8.91% 12,948 94,450 3.24% 3.23% 3.14% 8.25% 26,801 9,310 7.92% 7.88% 7.51% 1,12,679 8.25% 7.92% 8.91% 85,140 86,389 Jun
Slide 13: Appendix
Indiabulls HOUSING FINANCE Appendix
Slide 14: Financial and Operational Highlights
Financial and Operational Highlights 14
Slide 15: Business Summary
Business Summary • Balance Sheet : ₹ 1.21 Lakh Cr • Loans Outstanding : ₹ 1.13 Lakh Cr : [$ 16.40 Bn] • Loan Assets CAGR [7 years] : 21% • Cumulative Loans to Retail Customers : 11,19,180 • Cumulative Loans Disbursed till date : ₹ 2.55 Lakh Cr [$ 36.94 Bn] • Cost to Income Ratio [FY19] : 12.7% • Pro
Slide 16: Balance Sheet Assets
Balance Sheet Assets 7% 22% Loan Book Cash & Cash Equivalents Other Assets 71% Current Account Balance & Fixed Deposits 11,836 AMC Investments 6,872 Investment in Bank CDs 5,023 Liquid Quasi-Sovereign Bonds 3,581 Highly Rated Liquid Corporate Bonds 911 Highly Rated Commercial Paper 288 Total Cash an
Slide 17: Asset Composition
Asset Composition Q1 FY 18-19 Q1 FY 19-20 21% 16% 79% 84% 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] 17
Slide 18: Micro ALM Details [Quarter-wise for next 10 years]
Micro ALM Details [Quarter-wise for next 10 years] Amount in ₹ Cr Particulars Total Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Cash & Cash Equivalents 28,511 28,511 27,017 25,560 26,826 27,321 25,309 24,949 24,302 Customer Repayments 86,389 4,725 4,641 5,517 4,736 4,647 4,147 4,215 4,24
Slide 19: Micro ALM Details [Quarter-wise for next 10 years]
Micro ALM Details [Quarter-wise for next 10 years] Amount in ₹ Cr Particulars Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Cash & Cash Equivalents 24,364 19,527 17,741 17,154 14,746 15,881 15,135 16,256 Customer Repayments 3,942 4,050 3,705 3,644 3,390 3,037 3,188 2,470 Non Current Assets
Slide 20: Micro ALM Details [Quarter-wise for next 10 years]
Micro ALM Details [Quarter-wise for next 10 years] Amount in ₹ Cr Particulars Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Cash & Cash Equivalents 17,333 15,400 16,479 18,423 19,957 21,246 22,484 23,906 Customer Repayments 2,180 2,285 2,809 2,188 1,553 1,288 1,752 1,194 Non Current Assets
Slide 21: Micro ALM Details [Quarter-wise for next 10 years]
Micro ALM Details [Quarter-wise for next 10 years] Amount in ₹ Cr Particulars Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q3FY27 Q4FY27 Q1FY28 Cash & Cash Equivalents 24,076 24,183 24,944 25,628 24,835 23,489 23,777 24,917 Customer Repayments 414 1,036 859 334 311 289 268 249 Non Current Assets - - - - - - 8
Slide 22: Micro ALM Details [Quarter-wise for next 10 years]
Micro ALM Details [Quarter-wise for next 10 years] Amount in ₹ Cr Particulars Q2FY28 Q3FY28 Q4FY28 Q1FY29 Q2FY29 Q3FY29 Q4FY29 Q1FY30 10+ Years Cash & Cash Equivalents 24,906 22,788 22,820 18,330 18,416 17,537 16,698 16,147 16,285 Customer Repayments 232 215 200 186 173 161 149 38 1,625 Non Current
Slide 23: Liabilities Profile
Indiabulls HOUSING FINANCE Liabilities Profile
Slide 24: Liabilities
Liabilities 15% 4% 81% Shareholders' Funds Borrowings Other Liabilities 24
Slide 25: Funding Mix
Funding Mix 3% 2% 4% 10% 11% 22% 35% 34% 35% 12% 15% 1% 40% 39% 38% Jun 17 Jun 18 Jun 19 Debentures and Securities Commercial Papers Bank Loans Sell Down ECB ECB: External Commercial Borrowing 25
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 8.80% - 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: PMAY and Tax Incentive
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% 0.59% Rental yield Effective Interest Rate on Home Loans with PMAY [0.59%] Source: NHB; Industry reports Increasing
Slide 32: Growth Momentum in Residential Real Estate
Growth Momentum in Residential Real Estate • Housing sales in H1CY19 remained resilient despite general elections and registered growth of 34% YoY across seven key Indian cities 1 • Stock of unsold inventory has fallen 5% YoY to 0.67 Mn units in Q2CY19 1 • Over 147,000 units were sold in H1CY19 with
Slide 33: Commercial Office Space Absorption
Commercial Office Space Absorption • H1CY19 sees decadal high in leasing activity in top eight cities1 • 27.4 mn sq. ft. leased during H1CY19 across top eight cities, up 26% YoY1 Pick-up in Leasing ‒ Mumbai, Bengaluru, Pune and NCR account for ~75% of leasing activity1 • Average rental values across
Slide 34: Strong Structural Drivers and Government Focus
Strong Structural Drivers and Government Focus Measures in the last 39 months: Boost to the Housing Sector Pradhan Mantri Awas Subsidy eligibility under Pradhan Mantri Awas Yojana [PMAY] covers up to ₹ 12 lakh of home loan – reduces Yojana [PMAY] effective home loan rates to 0.59% 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: Technology-led cost-effective
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: 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 39: Pan-India Brick-and-Mortar Branch Network
Pan-India Brick-and-Mortar Branch Network Head Master office Service Centers • Core credit Branches [MSC] committee • • • Regional credit hub • Loans above pre- • Service • Walk-in defined limits go to • Centers • Detailed credit the committee branches analysis • Customer • Customer interaction and
Slide 40: eHome Loans: Digitised Workflow, Analytics driven
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 41: eHome Loans: Digitised Workflow, Analytics driven
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 42: 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 43: Conservative Loan Against Property Portfolio
Conservative Loan Against Property Portfolio 43
Slide 44: 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 45: Loan Against Property Myths
Loan Against Property Myths LAP Myth 2: Asset inflation is mainly responsible for LAP portfolio quality 28% 25% 27% 29% 19% 21% 21% 22% 19% 23% 20% 21% 3-Year Amortization Experience 11% for IBHFL 6% 7% 5% 2% 16% 14% 14% 3% 3% 5% 2% Contracted Amortization 23% 2008 2009 2010 2011 2012 2013 2014 2015
Slide 46: LAP Grading
LAP Grading A Pioneering Initiative for Improved Risk Management and Greater Transparency 46
Slide 47: Loan Against Property Grading from CRISIL
Loan Against Property Grading from CRISIL • Sourcing quality sustained through transition to GST • LAP grading engagement with CRISIL [an S&P Global Company] - CRISIL grades LAP loans on aspects such as past payment track record; nature of business and financial performance; nature of property; and
Slide 48: 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 49: CRISIL LAP Grading
CRISIL LAP Grading Grading Segment Characteristics Total Interest Disbursals Outstanding Grading Quality of Service Loan to EBITDA Apr 15 –Feb Liabilities/ Scale LAP Loans# Coverage Value [LTV] Margins 19 Total Net Ratio [ISCR] worth Over 99% of LAP1 Highest 8.30% 10.3 – 13.3 1.3 – 1.4 49% 15% – 19%
Slide 50: Static Credit Performance Analysis of LAP and HL Pools
Static Credit Performance Analysis of LAP and HL Pools 50
Slide 51: Retail Loan Book of Highest Quality
Retail Loan Book of Highest Quality Portfolio performance of all sold down pools of ₹ 57,036 Cr 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+ dpd % Type Pools [₹ Cr] [at disbursement] Bo
Slide 52: 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 Amortisa- Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] tion# [₹ Cr] 1 Bank 4 20-Mar-14 345.2 292.3 60
Slide 53: 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 Amortisa- Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] tion# [₹ Cr] 29 Bank 8 30-Jun-16 186.5 157.4 32
Slide 54: 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 Amortisa- Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] tion# [₹ Cr] 57 Bank 8 31-Jul-18 109.4 90.4 7 8
Slide 55: 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 62 7.9 96%
Slide 56: 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] 26 Bank 1 20-Mar-12 236.0 222.3 84 10.6 95
Slide 57: 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 Amortisa- Sr. No Investor Principal MPS 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Cr] [₹ Cr] tion# [₹ Cr] 51 Bank 15 27-Dec-18 462.3 354.6 3 335.8
Slide 58: 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 59: Corporate Social Responsibility
Corporate Social Responsibility 59
Slide 60: Indiabulls Foundation: Corporate Social Responsibility
Indiabulls Foundation: Corporate Social Responsibility Health JanSwasthya Kalyan Vahika Transforming Mokhada, Shahapur Transforming Talukas - Free primary healthcare facility provided at & Trimbakeshwar doorsteps for the underprivileged - Medical vans, clinics, health camps, nutrition - 2 vans added
Slide 61: Board of Directors, Ratings, Business Value Proposition, Key Ratios, Valuations, and Shareholding
Board of Directors, Ratings, Business Value Proposition, Key Ratios, Valuations, and Shareholding 61
Slide 62: 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 63: 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 S R Batliboi & Co. [Indian Member firm of Ernst & Young] Internal Auditor Grant Thornt
Slide 64: Productivity Ratios
Productivity Ratios FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 No. of 4,512 4,243 4,072 4,099 4,840 5,453 6,388 8,111 8,676 Employees Profit per 0.17 0.24 0.31 0.38 0.39 0.43 0.46 0.47 0.47 employee [₹ Cr] Asset per 3.71 5.85 8.09 10.84 11.82 14.02 16.23 16.26 15.00 empl
Slide 65: Key Financial Metrics
Key Financial Metrics FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Pre Tax RoAA 5.5% 4.9% 4.9% 4.8% 4.9% 4.9% 4.6% 4.3% 4.2% [%] Post Tax RoAA 4.1% 3.7% 3.8% 3.8% 3.7% 3.7% 3.6% 3.3% 3.0% [%] RoE [%] 17.2% 22% 26% 27% 29% 26% 26% 30% 24% Capital 23.87% 19.96% 18.58% 20.47%
Slide 66: Valuations and Returns
Valuations and Returns Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Jun-19 Market Price per Share 155 207 272 286 558 674 998 1,194 744 476* [₹] Dividend per Share [₹] 10 13 20 29 35 36 36 42 40 8 Dividend Yield [%] 6.5% 6.3% 7.4% 10.2% 6.3% 5.3% 3.6% 3.5% 5.4% 6.7% Market Capitali
Slide 67: Shareholding Pattern
Shareholding Pattern 12.6% 21.5% 13.2% 52.7% Founder Foreign Institutional Shareholding MFs/Banks/IFI Public MF: Mutual Funds; IFI: Indian Financial Institutions As on 30th June, 2019 67
Slide 68: Detailed Financials
Indiabulls HOUSING FINANCE Detailed Financials 68
Slide 69: Consolidated Balance Sheet
Consolidated Balance Sheet Current Account Balance & Fixed 11,836 Deposits AMC Investments 6,872 Investment in Bank CDs 5,023 Liquid Quasi-Sovereign Bonds 3,581 Highly Rated Liquid Corporate Bonds 911 Highly Rated Commercial Paper 288 Total Cash and Cash Equivalents 28,511 Amount in ₹ Cr The company
Slide 70: Consolidated Income Statement
Consolidated Income Statement The company had cash, cash equivalents and investments in liquid debt instruments of ₹ 28,511 Cr as at 30th Jun, 2019. The company receives income from its cash, cash equivalents and investments in liquid debt instruments through the quarter, most of which appears in ‘O
Slide 71: Update on OakNorth Bank
Update on OakNorth Bank • In Q1 CY19, OakNorth closed equity round with total capital raise of £335 Mn ($440 Mn), in primary from Softbank and £35 Mn ($45 Mn) in secondary from Clermont • IBHFL’s share of ~15.24%* is now valued at $401 Mn (IBHFL realised $117 Mn in Nov-17 through a part sale of its
Slide 72: 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 73: Thank you
Indiabulls HOUSING FINANCE Thank you
Indiabulls Housing Finance — Investor Presentation (October 2019) on 6ix