Can Fin Homes (CANFINHOME) Q3 24/25 earnings summary

Executive summary

• Disbursements for Q3 FY25 were flat at ₹1,879 crore due to operational setbacks in Karnataka and Telangana, mainly from e-Khata registration delays and regulatory issues affecting real estate sentiment and project launches.

• Loan book reached Rs. 37,155 Cr as of Q3FY25, up 9% year-over-year, with a clientele base of 2.73 lakh.

• Unaudited financial results for the quarter and nine months ended December 31, 2024, were approved by the Board and reviewed by statutory auditors, with no material misstatements identified.

• Consistent dividend payments since inception and strong management support from Canara Bank.

• The main business remains focused on housing and property loans, with all activities incidental to this core segment.

Financial highlights

• Q3FY25 PAT at Rs. 212 Cr, up from Rs. 200 Cr in Q3FY24; NII at Rs. 345 Cr, up from Rs. 329 Cr year-over-year.

• Total income from operations for the nine months ended December 31, 2024, was ₹2,87,996.93 lakhs, up from ₹2,59,705.25 lakhs year-over-year.

• Operating profit for Q3FY25 at Rs. 291 Cr; cost-to-income ratio at 16.92%.

• 9M FY25: Disbursements at Rs. 6,112 Cr (+4% YoY), PAT at Rs. 623 Cr (+15% YoY).

• Earnings per share (basic and diluted) for the nine months stood at ₹46.81, up from ₹40.68 year-over-year.

Outlook and guidance

• Disbursements in Q4 expected to match or slightly exceed last year if Karnataka improves; AUM growth target for FY26 is 15%.

• Implementation of a new Core Banking Solution is underway, with completion targeted for Q3 FY 25-26.

• Credit cost for FY25 guided at 15 basis points, with minimal provisioning expected in Q4; similar guidance for FY26.

• Disbursement target for FY26 set at ₹12,000 crore, with AUM expected to reach ₹38,000 crore.

• Cost-to-income ratio for FY26 targeted at 18.5%-19% due to IT transformation project expenses.