Fresh loans by NBFCs reach pre-Covid levels – Times of India
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CHENNAI: NBFCs reached pre-Covid levels in fresh loan disbursements in the second quarter of FY22, after posting a tepid growth in the April-June quarter due to the second Covid wave.
HDFC said July disbursements were the highest ever in a non-quarter end month. “Growth in home loans came from both the affordable housing segment as well as high-end properties,” its MD Renu Sud Karnad said.
“Pandemic has reinvigorated the importance of home ownership. The concept of work-from-home is also fuelling the need and creating a demand for larger spaces as a subset,” says Y Viswanatha Gowd, MD and CEO of LIC Housing Finance.
Shriram Housing Finance disbursed more fresh home loans to touch Rs 650-700 crore mark in July-September, 2021 from Rs 220 crore in the April-June quarter. Its MD & CEO Ravi Subramanian says, “We have already reached the pre-Covid levels of disbursement of loans.” In August, M&M Finance recorded a 57% YoY growth in disbursement at Rs 2,150 crore. Indiabulls Housing Finance said fresh loan disbursements have picked up pace from July, registering impressive growth month-on-month. In August, it disbursed about Rs 550 cr of retail loans and expected to disburse about Rs 750 Cr of retail loans in September.
HDFC said July disbursements were the highest ever in a non-quarter end month. “Growth in home loans came from both the affordable housing segment as well as high-end properties,” its MD Renu Sud Karnad said.
“Pandemic has reinvigorated the importance of home ownership. The concept of work-from-home is also fuelling the need and creating a demand for larger spaces as a subset,” says Y Viswanatha Gowd, MD and CEO of LIC Housing Finance.
Shriram Housing Finance disbursed more fresh home loans to touch Rs 650-700 crore mark in July-September, 2021 from Rs 220 crore in the April-June quarter. Its MD & CEO Ravi Subramanian says, “We have already reached the pre-Covid levels of disbursement of loans.” In August, M&M Finance recorded a 57% YoY growth in disbursement at Rs 2,150 crore. Indiabulls Housing Finance said fresh loan disbursements have picked up pace from July, registering impressive growth month-on-month. In August, it disbursed about Rs 550 cr of retail loans and expected to disburse about Rs 750 Cr of retail loans in September.
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