Indiabulls Housing Finance higher provisions hurt PAT in Q4FY20 | ET NOW special report

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Indiabulls Housing Finance reported weak profitability on account of higher provisioning. The company has raised ~$300 million through equities. Gagan Banga, VC & MD at Indiabulls Housing Finance, in his interaction with ET NOW said that this fundraising is an enabling resolution so that the company can focus on growth in H2FY21. The asset quality for the quarter also showed some improvement with GNPA declining by 14% QoQ and the company effectively achieved zero Net NPA status. Going forward as well, the management doesn't expect any dramatic movement as far as NPAs are concerned & would continue to remain proactive in provisioning. Watch!

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