Poonawalla Fincorp saw a 116% increase in total disbursements, reaching approximately ₹ 3,980 crore in Q3 FY23 compared to Q3 FY22.
The NBFC’s disbursements increased 116% YoY and 7% QoQ, with 100% of disbursements coming from organic sources compared to 97% in Q2 FY23.
Consolidated AUM was at ₹ 19,550 crore as of December 30, 2022, up 28% YoY and 5% QoQ. The NBFC saw a rise in AUM despite a reduction in discontinued loans, which stood at approximately ₹ 800 crore as of December 31, 2022.
As of December 31, 2022, the gross and net non-performing assets are expected to be below 1.5% and 0.8% respectively, in line with the RBI’s November 12, 2021 circular. The company aims to maintain the net non-performing assets below 1% as part of its Management Vision 2025.
Poonawalla Fincorp had approximately ₹ 4,850 crore in liquidity as of December 31, 2022. On a standalone basis, total disbursements increased 8% to approximately ₹ 3,370 crore in Q3 FY23 from Q2 FY23’s ₹ 3,110 crore. AUM grew 28% YoY and 6% QoQ to approximately ₹ 13,940 crore as of December 31, 2022.
Poonawalla Fincorp achieved its highest ever quarterly disbursement, acquired its highest ever customer base, and maintained best-in-class asset quality and low cost of funds in Q3 FY23. The share of Direct, Digital, and Partnerships rose to 56% in Q3 FY23, up from 47% in Q2 FY23, 34% in Q1 FY23, and 17% in Q4 FY22. This puts the company on track to achieve its Vision 2025 goals of growth, asset quality, and profitability on a standalone basis.
On December 14, 2022, Poonawalla announced the sale of its housing subsidiary to TPG for a valuation of ₹ 3,900 crore, subject to regulatory approval. The transaction aims to maximize shareholder value in the long term as Poonawalla Fincorp (standalone) focuses on building a tech-led, digital-first financial services company with a focus on consumer and MSME financing.
Poonawalla Fincorp is a non-deposit taking, systemically important non-banking finance company promoted by the Cyrus Poonawalla group and registered with the Reserve Bank of India.
The company’s consolidated net profit rose 70.8% to ₹ 163.12 crore and total income increased 27.1% to ₹ 654.89 crore in Q2 FY23 compared to Q2 FY22.
Poonawalla Fincorp shares fell 1.12% to ₹ 295.10 on the BSE.
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