CanFin Homes has reported a 55.64 per cent rise in profits at ₹55.05 crore for the second quarter of 2016-17 on standalone basis, against ₹35.37 crore during the same period last year.
CanFin Homes’ total income for the quarter rose 26.19 per cent at ₹332.37 crore (₹263.37 crore). EPS (basic) stood at ₹20.68 (₹13.29).
Commenting on the company’s performance, SK Hota, Managing Director, said: “With 88 per cent of the total loan book comprising individual housing loans, the bank’s focus remains unchanged on the retail individual housing sector.”
“The bank continues to focus on affordable housing with a proper mix of non-housing segment and the salaried and professional class continue to be a niche segment,” he said.
As on September 30, the gross NPA and net NPA ratios stood at 0.25 per cent (0.29 per cent) and 0.03 per cent (0.10 per cent), respectively.
The NPA coverage ratio improved to 88 per cent from 84 per cent as at June 2016 and 67 per cent at September 2015. It posted a net interest income of ₹100 crore plus. “In line with the bank’s vision 2020 document, we expect the loan book size to be ₹35,000 crore by March 31, 2020,” said Hota.