Repco Home Finance (REPCOHOME) Q4 10/11 earnings summary

Executive summary

• FY11 loan portfolio reached ₹2,073.49 crore, up 47%; profit grew 31%, with net NPA at 0.82%.

• Sanctions and disbursements increased 54% and 57%, respectively, amid rising funding costs and competition from teaser-rate offers.

Financial highlights

• Operating income was ₹2,255.51 million versus ₹1,636.00 million in FY10; PBT was ₹792.50 million versus ₹611.48 million.

• PAT rose to ₹581.53 million from ₹443.43 million; basic and diluted EPS were ₹12.52 versus ₹10.11.

• Loans outstanding were ₹2,073.49 crore in the Chairman’s statement; the financial results table reports ₹2,073.49 crore versus ₹1,408.01 crore.

Outlook and guidance

• FY12 targets: loan sanctions of ₹1,350 crore, disbursements of ₹1,260 crore and an outstanding portfolio of ₹3,000 crore.

• Plans called for 25 branches across Tamil Nadu, Karnataka, West Bengal, Madhya Pradesh, Kerala, Andhra Pradesh, Odisha and Maharashtra.

• An IPO was planned to unlock stakeholder value, strengthen capital adequacy and help reduce funding costs.