Q3FY22 Quarterly Result Announced for Aavas Financiers Ltd.
Aavas Financiers declares Q3FY22 result: AUM of Rs. 106,126 Mn; Growth of 20% YoY PAT at Rs. 2,413 Mn; Growth of 19% YoY Gross Stage 3 at 1.72% (includes 0.89% of upto 90 DPD assets) ROA at 3.37%; Increased by 14 bps YoY Sufficient Liquidity of Rs. 25,430 Mn Positive ALM & Strong Capital Base Commenting on the performance Mr. Sushil Kumar Agarwal, CEO said: "Dear All. Hope everybody is keeping safe & healthy. The country witnessed a third wave of COVID starting from December. The initial impression suggest that this wave is relatively milder than the prior one and cases have started to plateau or come down across most parts of the country. We continue to adopt a cautious approach on growth in these circumstances with continued focus on maintaining the asset quality & operating metrices. During the quarter, we disbursed Rs. 9,509 Mn registering 24% YoY growth while for the nine months, we have overall disbursed Rs. 23,150 Mn registering 41% YoY growth. As on 31st December 2021, we maintained a sufficient liquidity of Rs. 25,430 Mn in the form of cash & cash equivalents and un-availed documented sanctions. In line with our expectations, 1+ DPD has improved notably from 8.88% in Sep-21 to 6.45% in Dec-21 and pretty much flat on YTD basis as against 6.37% in Mar-21. In a similar way, Gross Stage 3 assets with DPD above 90 have come down even in absolute terms from Rs. 795.1 Mn in Sep-21 to Rs. 710.7 Mn in Dec-21. Additionally, we have also categorized Rs. 762.5 Mn of assets with DPD upto 90 as GNPA following RBI's notification dated 12th November 2021 to harmonize IRACP norms. As a result, the Gross Stage 3 exposure as of Dec-21 stands at 1.72% as against 0.83% in the absence of any changes in IRACP norms by RBI." Result PDF03-02-2022