Sammaan Capital Ltd · NSE:SAMMAANCAP
Sammaan Capital — Indiabulls Housing Finance — H1 FY2018-19 Earnings Presentation
78 slides from Sammaan Capital's earnings presentation, Oct 29, 2018
Slide 1: Indiabulls Housing Finance
Indiabulls HOUSING FINANCE
Slide 2: 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 3: Contents
Contents Pg. No. 1. Business Update 04 2. Indiabulls Housing Finance’s Liquidity Standards 10 3. Indian Home Loans Market 13 4. Financial and Operational Highlights 23 5. Home Loans Distribution Model 33 6. Conservative Loan Against Property Portfolio 42 7. LAP Grading 46 8. Static Credit Performanc
Slide 4: Business Update
Indiabulls HOUSING FINANCE Business Update
Slide 5: Our Journey
Our Journey • Credit rating upgraded to AAA by CRISIL [an S&P Global Company] and ICRA [a Moody’s Investors Service Company] • Balance sheet: ₹ 1.32 Tn 397.7* • PAT: ₹ 38.5 Bn, RoE: 30% • Balance sheet: ₹ 1.04 Tn.; Net worth: ₹ 121 Bn • Launched India’s first digital home loans platform: 2017-18 eHo
Slide 6: Business Update
Business Update Key Financial Highlights: H1 FY 18-19 vs H1 FY 17-18 as per Indian Accounting Standards [IndAS] H1 FY 18-19 H1 FY 17-18 YoY Growth [%] Balance Sheet 1,398.04 1,161.31 20.4% Loan Assets 1,289.08 1,000.12 28.9% Net Worth 173.50 143.28 21.1% Total Revenues 83.27 67.41 23.5% PBT 27.89 21
Slide 7: Profit and Loss Statement Under IndAS
Profit and Loss Statement Under IndAS Amounts in ₹ Bn Q2FY19 H1FY19 Interest Income & Fees 41.88 82.11 Interest Expense 25.56 48.92 Net Interest Income 16.31 33.20 Net gain on excess interest spread on 0.68 1.15 assignment transactions for the quarter Total Net Income 16.99 34.35 Less: Operating Exp
Slide 8: Reconciliation of Consolidated Profit with Indian GAAP: Q2 FY 2017-18
Reconciliation of Consolidated Profit with Indian GAAP: Q2 FY 2017-18 Q2 FY 18 Profit after tax as per previous GAAP 8.61 IndAS adjustment: Adjustment on account of effective interest rate for financial [1.00] assets and liabilities recognised at amortised cost Adjustment on account of net gain on e
Slide 9: Conservative ECL Provisions and Stable Asset Quality
Conservative ECL Provisions and Stable Asset Quality As per IndAS Q2 FY19 Q2 FY18 Gross Stage 3 9.9 7.8 % Portfolio in Stage 3 0.77% 0.78% ECL Provision Stage 3 2.5 2.3 Net Stage 3 7.5 5.6 Coverage Ratio % Stage 3 25% 29% Gross Stage 1&2 1,279.1 992.3 % Portfolio in Stage 1&2 99.23% 99.22% ECL Provi
Slide 10: Indiabulls Housing Finance's Liquidity Standards
Indiabulls Housing Finance’s Liquidity Standards 10
Slide 11: IBHFL Follows a Liquidity Framework Guided by Basel III
IBHFL Follows a Liquidity Framework Guided by Basel III and in Line with Liquidity Ratios Prescribed for Banks High Quality Liquid Assets Amount [₹ Bn] Cash and bank balance 40.7 Liquid investments including investments in Govt securities, PSU/tax-free bonds 171.8 High Quality Liquid Assets [HQLA] 2
Slide 12: Granular Asset Liability Maturity Management
Granular Asset Liability Maturity Management ALM: Fully matched for all buckets. 135% cover for 6 months’ liabilities outflows 93% 86% 87% 79% 76% 69% 57% 53% 31% 26% 23% 19% 15% 16% 17% 12% 5% 2% 1d-14d upto 28d upto 3m upto 6m upto 12m upto 3y upto 5y upto 7y upto 10y Assets Liabilities The ALM ab
Slide 13: Indian Home Loans Market
Indiabulls HOUSING FINANCE Indian Home Loans Market 13
Slide 14: 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 15: Housing Demand in India
Housing Demand in India • Estimated housing shortage: ~ 40 Mn houses • Drivers of incremental demand: Current population growth Demand for 3.4 Mn houses p.a. @ 1.3% p.a. Ongoing nuclearisation Demand for 2.5 Mn houses p.a. @ 0.9% p.a. Rising income/aspirations – per capita GDP growth at 9-10% p.a. D
Slide 16: 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 17: 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 18: 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% 0.66% Rental yield Effective Interest Rate on Home Loans with PMAY [0.66%] Source: NHB; Industry reports Increasing
Slide 19: Mortgage Market Growth
Mortgage Market Growth Growing HFC Market Share in a Steadily Expanding Home Loans Market 17% 18% CAGR HFC CAGR: 21% 22% 16,750 14,405 17% 18% 12,384 16% 10,650 42% 8,887 40% 7,526 39% 40% 5,538 6,249 38% 13% 4,595 36% 37% 11% 34% 11% 11% 33% 7% Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-1
Slide 20: Growth Momentum in Residential Real Estate
Growth Momentum in Residential Real Estate • Housing sales across top seven Indian cities recorded a 15% jump YoY in Q3CY18 1 Bengaluru, Kolkata, Mumbai and Pune have witnessed more than 20% jump in YoY sales • New housing supply increased 51% in Q3 CY18 over Q2 CY18, with affordable housing accou
Slide 21: Commercial Office Space Absorption
Commercial Office Space Absorption • Leasing activity in top eight cities grew 56% over the past five years1 • Tech corporates, BFSI sector and e-commerce contributed to 64% of the leasing2 • 32 mn sq. ft. leased during 9MCY18 across top eight cities, up 7% YoY3 Pick-up in Leasing ‒ Mumbai, Bengalur
Slide 22: Strong Structural Drivers and Government Focus
Strong Structural Drivers and Government Focus Measures in the last 30 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 0.66% for mid-income aff
Slide 23: Financial and Operational Highlights
Financial and Operational Highlights 23
Slide 24: Business Summary
Business Summary • Balance Sheet : ₹ 1.40 Tn • Loans Outstanding : ₹ 1.29 Tn : [US$ 17.90 Bn] • Loan Assets CAGR [7 years] : 27% • Cumulative Loans to Retail Customers : 1,095,710 • Cumulative Loans Disbursed till date : ₹ 2.36 Tn [US$ 32.73 Bn] • Cost to Income Ratio [FY18] : 12.5% • Profit After T
Slide 25: Balance Sheet Assets
Balance Sheet Assets 4% 14% Loan Book: 82% Cash & Liquid Investments*: 14% Other Assets: 4% 82% Total Assets As at Sep 30, 2018 ₹ 1.40 Tn [US$ 19.42 Bn] As at Sep 30, 2017 ₹ 1.16 Tn [US$ 16.13 Bn] *Cash, Cash Equivalents and Investments in Liquid Debt Instruments US $ amounts are converted based on
Slide 26: Asset Composition
Asset Composition Q2 FY 17-18 Q2 FY 18-19 22% 20% 78% 80% Mortgage Loans Corporate Mortgage Loans • Home loans, which form the majority of incremental disbursals, are disbursed at an average ticket size of ₹ 2.4 Mn; average LTV of 71% [at origination] 26
Slide 27: Asset Quality
Asset Quality Gross NPA As at Sep 30, 2018 [IndAS] [in ₹ Bn] % of 0.83% Total Loan Assets GNPA : 9.94 0.77% 0.78% 0.77% Stage 3 ECL Provisions: 2.47 0.19% NNPA: 7.47 0.58% Sep 16 Sep 17 Sep 18 • The stage 1&2 ECL provisions of ₹ 3.7 Bn have not been taken into account while calculating the Net NPA d
Slide 28: Home Loan Profile: Focus on Mid-Income Affordable Housing
Home Loan Profile: Focus on Mid-Income Affordable Housing Average Loan Size ₹ 2.4 Mn 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 c
Slide 29: 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 ₹ 1.0 Mn Average Loan Size ₹ 1.5 Mn Maximum Loan Size ₹ 4.0 Mn Maximum Loan to Value 80% [at origination] Maximum Loan Term 20 years Average Customer Age 39 years Primary Securit
Slide 30: 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 ₹ 1.5 Mn – ₹ 5 Mn Urban Mid-Income Affordable Home Loans ₹ 0.6 – ₹ 1.8 Mn 51% 56% [$ 21,000 - $ 69,500] Prime mid-income, tier I
Slide 31: Loan Against Property Product Profile
Loan Against Property Product Profile Average Loan Size ₹ 7.3 Mn 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 B
Slide 32: Corporate Mortgage Loans
Corporate Mortgage Loans Over 70% of Corporate Loan Book is supported by Lease Rental Discounting [LRD] • Loan repayments are from business cash flows with demonstrated repayment ability, and not from refinancing • Developer bankruptcy-remote repayment structure: rental and sale cash flow comes dire
Slide 33: Home Loans Distribution Model
Home Loans Distribution Model: Analytics and Technology-led Next Phase of Growth 33
Slide 34: Evolution of Home Loans Distribution Model Thus Far
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 35: 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 36: Comprehensive Customer Coverage; Scalable Processing Capacity
Comprehensive Customer Coverage; Scalable Processing Capacity and Robust Risk Management Robust credit underwriting Ring of touchpoints Technology-driven, elastic, scalable loan rigour, risk management encircling target customers processing capacity practices and process integrity Digital Channels A
Slide 37: Retail Mortgage Loans' Sourcing
Retail Mortgage Loans' Sourcing 24% 5% 6% 65% Direct Sales Team External Channels Branch Walk-ins eHome Loans • 29% 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-h
Slide 38: Pan-India Brick-and-Mortar Branch Network
Pan-India Brick-and-Mortar Branch Network Smart City Home Loan Branches Head Master office September 2018: Successfully set up 100 smart city Service home loans branches as of Q2FY19 Centers [MSC] • Core credit Branches committee • Loans above pre- Service • Regional credit hub defined limits go to
Slide 39: 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 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: Conservative Loan Against Property Portfolio
Conservative Loan Against Property Portfolio 42
Slide 43: Loan Against Property Product Profile
Loan Against Property Product Profile Average Loan Size ₹ 7.3 Mn 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 B
Slide 44: 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 IBHFL 6% 7% 2% 16% 14% 14% 3% 3% 5% 2% Contracted Amortization 23% 2008 2009 2010 2011 201
Slide 45: Static Performance of LAP Portfolio
Static Performance of LAP Portfolio • Four cycles are through for the LAP product where average repayment period is about 3 years • Pre-FY11 LAP portfolio has amortised 94%, is of 8 years’ vintage with 90+DPD% (incl. write-off) of only 0.24% Evident in Portfolio Performance Disbursal POS 90+DPD 90+D
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 • 14th quarter of industry-pioneering LAP grading initiative • 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
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 – Liabilities/ Scale LAP Loans# Coverage Value [LTV] Margins Sep 18 Total Ratio [ISCR] Networth LAP1 Highest 8.48% 10.4 – 13.5 1.3 – 1.4 49% 15% – 19% Over 99% of
Slide 50: ICRA LAP Grading Methodology
ICRA LAP Grading Methodology [2nd rating agency to grade LAP loans] • Three years ago in H1FY16, IBHFL tied up with rating agency ICRA to grade its incremental LAP loans • ICRA LAP Grading reflects ICRA’s assessment of the credit quality of the LAP loan on a ICRA developed customised scale Grading A
Slide 51: 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 52: Static Credit Performance Analysis of LAP and HL Pools
Static Credit Performance Analysis of LAP and HL Pools 52
Slide 53: Monthly Monitoring Report of Sold Down Portfolio
Monthly Monitoring Report of ₹ 255.6 Bn of Sold Down Portfolio as on 30th September, 2018 Initial Pool Details of Initial POS Sold Down Pool Number of Disbursement Months on Summary Principal Principal Amortisation# 90+ dpd % 180+ dpd % CCR MCR QCR Pools [₹ Bn] Book [₹ Bn] [₹ Bn] HL Pools 65 155.3 1
Slide 54: Monthly Monitoring Report of Sold Down Portfolio
Monthly Monitoring Report of ₹ 255.6 Bn of Sold Down Portfolio as on 30th September, 2018 Monthly monitoring of sold down pool performance • CRISIL, a Standard & Poor’s Company, ICRA, a Moody’s Investors Service Company and CARE publishes pool performance of 14 PTC pools rated by them • CRISIL publi
Slide 55: 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 Sr. No Investor Principal MPS Amortisation# 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Mn] [₹ Mn] [₹ Mn] 1 Bank 4 20-Mar-14 3,451.6 2,923.4 5
Slide 56: 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 Sr. No Investor Principal MPS Amortisation# 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Mn] [₹ Mn] [₹ Mn] 30 Bank 9 30-Jun-16 1,153.7 976.9 26
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 Sr. No Investor Principal MPS Amortisation# 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Mn] [₹ Mn] [₹ Mn] 1 Bank 3 31-Dec-13 2,244.2 1,786.4 56 96.1
Slide 58: 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 Sr. No Investor Principal MPS Amortisation# 90+ dpd % 180+ dpd % CCR MCR QCR Date [₹ Mn] [₹ Mn] [₹ Mn] 28 Bank 10 28-Jun-17 6,265.8 4,694.4 14 2,8
Slide 59: 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 90+ 180+ Outstanding Sr No Investor Principal MPS Amortisation# CCR MCR QCR Date [₹ Mn] [₹ Mn] dpd % dpd % Rating from [₹ Mn] 1 Bank 2
Slide 60: Liabilities Profile
Indiabulls HOUSING FINANCE Liabilities Profile
Slide 61: Liabilities
Liabilities 11% 3% 86% Shareholders' Funds Borrowings Other Liabilities Total Liabilities As at Sep 30, 2018 ₹ 1.40 Tn [US$ 19.42 Bn] As at Sep 30, 2017 ₹ 1.16 Tn [US$ 16.13 Bn] US $ amounts are converted based on the exchange rate of US $1 = ₹ 72 61
Slide 62: Funding Mix
Funding Mix 2% 3% 4% 10% 10% 11% 33% 31% 39% ECB Sell Down Bank Loans 54% 54% Debentures and Securities 49% Sep 16 Sep-17 Sep-18 Total Borrowings As at Sep 30, 2018 ₹ 1.20 Tn [US$ 16.71 Bn] As at Sep 30, 2017 ₹ 0.97 Tn [US$ 13.42 Bn] US $ amounts are converted based on the exchange rate of US $1 = ₹
Slide 63: Strengthening Liability Profile
Strengthening Liability Profile 1,400 1,203 1,200 966 Borrowings 1,000 800 600 Net Gearing 400 5.3 5.9 200 - Sep 17 Sep18 Total Funding [₹ Bn] Net Incremental Contribution to Incremental Sep 18 Sep 17 in 12 Months Borrowings in last 12 Months Bank Loans 418.0 378.3 39.7 14.1% Debentures and Securiti
Slide 64: Spreads Within Guided Range as Home Loan Share Increases
Spreads Within Guided Range as Home Loan Share Increases Spreads Cost of Funds Loan Assets [₹ Bn] Loan Assets 7-Yr CAGR: 27% Own Book 7-Yr CAGR: 25% 9.05% 1,289 10.86% 11.15% 11.36% 1,003 140 8.44% 3.11% 3.23% 3.24% 8.11% 8.12% 753 103 8.08% 88 7.30% 1,149 7.75% 7.92% 8.12% 900 665 Mar 18 Jun 18 Sep
Slide 65: Corporate Social Responsibility
Corporate Social Responsibility 65
Slide 66: Indiabulls Foundation: Corporate Social Responsibility
Indiabulls Foundation: Corporate Social Responsibility Best Overall Excellence in CSR award at National Awards for Excellence in CSR & Sustainability 2016 Free Mobile Medical Vans Transforming Mokhada, Shahapur & Transforming Health - Free primary healthcare facility provided at Transforming Talukas
Slide 67: Board of Directors, Ratings, Business Value Proposition, Key Ratios, Valuations, and Shareholding
Board of Directors, Ratings, Business Value Proposition, Key Ratios, Valuations, and Shareholding 67
Slide 68: 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 69: Credit Ratings
Credit Ratings Long Term Credit Rating CRISIL [an S&P Global Company] AAA Reaffirmed on: September 25, 2018 ICRA [a Moody’s Investors Service Company] AAA Reaffirmed on: September 21, 2018 CARE Ratings AAA Reaffirmed on: September 21, 2018 Brickwork Ratings AAA Reaffirmed on: September 24, 2018 69
Slide 70: Business Value Proposition
Business Value Proposition Growing economy/ low mortgage Focus on affordable housing. Technology leveraged scalable penetration, increasing market Nationwide network with capacity. Thrust on digital presence share expanding footprint – exploiting digital opportunity Leading player in self-employed H
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 employee 1.7 2.4 3.1 3.8 3.9 4.3 4.6 4.7 [₹ Mn] Asset per employee 37.1 58.5 80.9 108.4 118.2 140.2 162.3 162.6 [₹ Mn] Cost-to-Income
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 Sep-18 Market Price per Share [₹] 155 207 272 286 558 674 998 1,194 932* Market Capitalisation 48.1 64.5 84.9 95.4 198.4 284.0 422.9 509.3 397.7 [₹ Bn] Net Worth [₹ Bn] 45.4 49.1 53.2 57.1 66.3 106.9 124.7 154.2 173.5 Pri
Slide 74: Shareholding Pattern
Shareholding Pattern 8.4% 21.6% 14.2% 55.8% Founder Foreign Institutional Shareholding MFs/Banks/IFI Public MF: Mutual Funds; IFI: Indian Financial Institutions As on 29st Sep, 2018 74
Slide 75: Detailed Financials
Indiabulls HOUSING FINANCE Detailed Financials 75
Slide 76: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ 212.5 Bn of Cash & Cash Equivalents and Investments in Liquid Debt Instruments Includes ₹ 23.78 Bn of Investments in liquid debt instruments like GSecs and Qualified PSU bonds with maturity greater than 1 year categorized in the balance sheet as Non-current Investments T
Slide 77: Consolidated Income Statement
Consolidated Income Statement The company had cash, cash equivalents and investments in liquid debt instruments of ₹ 212.5 Bn as at 30th Sep, 2018. The company receives income from its cash, cash equivalents and investments in liquid debt instruments through the quarter, most of which appears in ‘Ot
Slide 78: Thank you
Indiabulls HOUSING FINANCE Thank you
Indiabulls Housing Finance — H1 FY2018-19 Earnings Presentation on 6ix