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Indiabulls Housing Finance has repaid Rs 1,112.5 crore of bonds

Aug 29, 2023

By: BlinkX Research Team

Indiabulls Housing Finance has returned bonds totaling Rs 1,112.5 crore that it obtained in August 2013. The 10-year debt repayment that was made today and the five-year ECB repayment that was made last week coincided, making Q2 FY24's debt servicing rather high. From this point forward, according to the corporation, it has entered a phase of positive asset liability management (ALM), in which loan portfolio inflows would surpass debt repayments by Rs 1,300 crore to Rs 1,800 crore each quarter, all of which will be available for asset growth.

The total amount of repayments made by the company since September 2018 is Rs 1,62,985 crore on a gross basis and Rs 85,512 crore on a net basis. At the end of this quarter company's borrowings will be down to about Rs 36,000 crore and company's net debt to equity will be 1.8x.

"It has been Indiabulls Housing's long-standing policy to maintain adequate liquidity in cash, cash equivalents, and investments to cover near- to mid-term debt repayments. The company’s management has been proactive in its approach to ALM management and has always planned in advance for bunched up repayments of the nature that we had in this quarter," it said in the regulatory filing.

Source: Media Reports