Shriram Housing Finance steps up to

                        Shriram Housing Finance steps up to reimburse
                                vaccination costs for all its customers 

·         A small gesture to facilitate vaccination for our customers

Shriram Housing Finance Limited (SHFL), a leading Affordable housing finance company, takes a step ahead in raising a helping hand for its customers by absorbing the cost of COVID 19 vaccination and enabling its customers to be a part of the largest vaccination program of the Nation.

Shriram Housing Finance has always had a ‘customer first approach’ and has always believed and supported the well-being and welfare of its customers all through the pandemic. Today, at a time when vaccination has become a critical factor and of utmost importance, Shriram Housing Finance has taken on the mantle of providing vaccination free of cost to all its customers.

Mr. Ravi Subramanian, MD & CEO, Shriram Housing Finance said, “At Shriram Housing Finance, our employees and customers have always been our priority. While we had earlier announced reimbursement of costs of vaccination for our employees, we have now extended the same for our customers as well. Customers in the affordable housing space are not very well off and for them even the small sum to be incurred in vaccination through private players can become a big deterrent. This in turn can derail the vaccination drive. We believe that this initiative will take out the dissonance and enable customers to take affordability out of the equation when they make the vaccination decision. We would be reaching out to all customers with details of this program and would work to make this a big success” he added

Shriram Housing Finance Limited raises

Shriram Housing Finance Limited raises Rs.300 cr from Banks

 ·        Raises over 700 cr in the current calendar year·        The Company reported a 25% growth in AUM

Shriram Housing Finance Limited (SHFL) amidst the current challenging circumstances prevailing in the financial sector, has raised long term debts of around Rs.300 crore from the banking sector. The company raised Rs.250 cr long term Loan from a PSU Bank at 8.50%, the loan being repayable in 5 years.  The company has also raised Rs.40 cr NCD under TLTRO 2 at an annualised coupon of 8.55%. With this, the company has raised over 700 cr in the current calendar year.

In the recently declared Financial Results for the year 2020 by Shriram Housing Finance, the company reported a 25% growth in its AUM to Rs.2305 crore by clocking disbursal of Rs.1127 crore for the year. The company has reported a jump of 160% in PBT from 25 crore in FY2019 to Rs.65 crore in FY2020. 

The PAT grew from 16.6 crore to 46.6 crore in FY2020 registering a growth of 179%. The net worth of the company thereby stood at Rs.513 crore. The company results have also shown a significant improvement in portfolio quality. Robust credit underwriting and collection efficiency has helped to build a superior loan book resulting in GNPA at 5 year low of 2.4% and NNPA at 2.1%. SHFL has also made an additional provision of Rs.10 crore for Covid related impact on its portfolio.

Mr. Ravi Subramanian, Managing Director & CEO, Shriram Housing Finance said, “We are happy that the market has shown confidence in us even during such challenging times. Despite the challenges, SHFL has always focused on getting new business without compromising on the portfolio quality and we look forward to work for the benefit of the society and our customers keeping in mind the current pandemic situation. Besides the debt raised so far, we also have NCDs in the pipeline. This only strengthens our belief that there is sufficient liquidity available for well managed companies.” 

Shriram Housing Finance Limited with over 65 branches across the country plans to tap the potent opportunity for cross-selling home loans. The company plans to leverage the Groups distribution strength (over 3500 branches across Shriram Transport & Shriram City Union Finance) to cater to the needs of the exclusive set of group customers.

Shriram City Union Finance Ltd. declares

Shriram City Union Finance Ltd. declares Fourth Quarter
and FY20 results

Leading Small Business financier Shriram City Union Finance Limited (Shriram City) has declared its results for the fourth quarter and Financial Year 2020.

Standalone disbursements in FY20 were lower by 5.6% and Assets under Management by 1.7%. However, disbursements in the flagship product of MSME loans grew 24.9% on a sequential basis. Standalone Net Profit, although lower by 39.1% in Q4 versus the previous year on account of enhanced Covid-19 related provisioning was up 1.2% for the year. Asset quality continued to improve, with Gross Stage 3 levels at 7.90% (compared to 8.91% a year ago and 8.51% last quarter). Subsidiary Shriram Housing Finance Ltd. registered a healthy performance, growing its Assets under Management by 24.7% over last year and 9.7% over the last quarter. Disbursements grew 48.5% annually and 3.6% sequentially. Disbursements for the quarter at Rs. 400 Crore were the highest ever for the Company. Net Profit for the year was higher by 179%. The subsidiary also registered, at 2.4% GS3, it best asset quality in the last five years.

Mr. Y.S. Chakravarti, MD & CEO, Shriram City Union Finance, said, “This was yet another rollercoaster of a year, with Covid-19 dampening business sentiments at the very end of the fiscal. However, Shriram City is adequately geared to deal with the challenges that will emerge in FY21. Together with our subsidiary we are strong on liquidity and recovery, and these are major determinants of success in the NBFC and Housing Finance industries.”

About Shriram City Union Finance Ltd. (BSE: SHRMCITY, NSE: SHRIRAMCIT): The thirty four year old Shriram City Union Finance Ltd. is among the more important players in the retail financing space. The company is among the largest financiers of MSMEs and Two Wheelers in the country. It also offers multiple loan products for acquiring assets such as commercial vehicles, passenger vehicles and homes. In addition, it offers loans against gold ornaments and for personal consumption.  A deposit-accepting NBFC, Shriram City is a part of the over Rs. 1 Lac crore Chennai-based Shriram Group.