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Bajaj AUM Grows 31% YoY In Sept Qtr

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An increase in company’s deposit book is also witnessed at approximately Rs 39,400 crore at 30 September 2022 end.

Bajaj Finance’s (PFL) assets under management (AUM) saw growth by 31 per cent year-on-year (YoY) to approximately Rs 218,350 crore at September end 2022 (Q2FY23) on consolidated basis. It stood at Rs. 166,937 crore on 30 September 2021. AUM grew by approximately Rs. 14,350 crore in Q2FY23.

Despite new loans booked during Q2 FY23, company’s customer franchise stood at 62.9 MM at 30 September 2022 end. Comparatively it remained at 52.8 MM on 30 September 2021. The increase recorded in Q2 FY23, is 2.6 MM and loans booked were 6.8 MM as compared to 6.3 MM in Q2 FY22.

“The Company’s liquidity position remains strong,” said the company during corporate filing. Its consolidated net liquidity surplus stood at approximately Rs. 9,300 crore at 30 September 2022 end.

However, the company continued to remain well capitalized with capital adequacy ratio (CRAR) of approximately 25.1 per cent at 30 September 2022.

An increase in company’s deposit book is also witnessed at approximately Rs 39,400 crore at 30 September 2022 end. Previous year’s data shows it stood at Rs. 28,720 crore on 30 September 2021. It showed a 37 per cent YoY growth.

“The information made available is provisional and subject to review by the statutory auditors of the Company,” said further in the statement during corporate filing.

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Poonawalla Fincorp AUM Grows 21% YoY In Sept Qtr

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The total disbursement for Q2FY23 stood around Rs 3,720 crore going up 44 per cent YoY and eight per cent quarter-on-quarter (QoQ) at a consolidated level.

Poonawalla Fincorp’s (PFL) consolidated assets under management (AUM) saw growth by 21 per cent year-on-year (YoY) to Rs 18,550 crore at September end 2022 (Q2FY23). Despite a sharp reduction in the discontinued loan book, it witnessed the growth.

Consecutively, expansion in its consolidated asset portfolio was recorded by five per cent over Rs 17,660 crore at June 2022 end (Q1FY23).

The total disbursement for Q2FY23 stood around Rs 3,720 crore going up 44 per cent YoY and eight per cent quarter-on-quarter (QoQ) at a consolidated level. The company said that such performance portrayed the highest-ever quarterly and monthly disbursement during Q2FY23 and September 2022 respectively.

The organic monthly disbursements of PFL, formerly known as Magma Fincorp, were Rs 1,290 crores, creating impactful growth trajectory for H2FY23, in September 2022. A 30 per cent YOY growth for the year has been guided by the management.

PFL, while filing with BSE said that the discontinued on-book stood at around Rs 1,300 crore at September 2022 end. It recorded a down of Rs 2,281 crore in June 2022 and Rs 2,974 crore in March 2022.

Indicating to rundown the discontinued book over the next 18 to 24 months in May 2022, the company’s discontinued book now stands at 17.9 per cent of consolidated AUM at March 2022 end.

The performance of the housing finance subsidiary Poonawalla Housing Finance Ltd (PHFL). PHFL’s AUM stood at around Rs 5,600 crore as on 30September, 2022. It went up from Rs 5,282 crore at June 2022 end, as reflected in the consolidated figures.

PFL said it has lined up asset qualification with the Reserve Bank of India’s revised norms in the reporting quarter (Q2FY23), referring to the credit quality of the book.

Expected, the lined up gross non-performing assets (NPA) on the consolidated basis may remain below 1.6 per cent by 30September 2022. The net NPAs maybe below 0.9 per cent. Approximately, the company has liquidity of Rs 4,730 crores as on 30 September 2022, the company quoted.

A rating agency revised the rating for PFL long-term bank facility from “AA+” to “AAA” with a sustained outlook, early this week.