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Indiabulls Housing Finance (IBHF) aims to raise Rs 4,500 crore through bond issues in 2014-15, a top company official has said.
“We will raise Rs 4,500 crore in this fiscal through bond issues and on a net basis, excluding repayment of earlier bond issues, the same will be Rs 3,500 crore,” company Managing Director and chief executive Gagan Banga told PTI.
In 2013-14, it had raised Rs 10,525 crore through bond issues, which contributed to 26 per cent of the incremental borrowings made by the company. Bulk of borrowings last fiscal came through bank loans.
Banga said that the company is well capitalised with a capital adequacy ratio of over 19 per cent and will not be having any requirements during the fiscal.
“In FY15, the company is targeting a 25-30 per cent growth in both net profit and loan book in FY15,” Banga said, adding that the net interest margin of 3.50 per cent will be maintained during the fiscal.
On the asset quality, the company registered a marginal increase in gross non-performing assets ratio at 0.83 per cent as on March 31, 2014 against 0.79 per cent in the year-ago period.
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