Chennai-based Repco Home Finance (RHFL), a listed entity, has raised Rs 272 crore from World Bank’s multi-lateral lending arm International Finance Corporation (IFC) by issuing non-convertible debentures (NCDs). The securities allotment committee of the board of directors in a meeting approved issuing 2,720 secured, redeemable, non-convertible, non-cumulative debentures (SRNCDs) of face value of Rs 10 lakh, aggregating to Rs 272 crore, on a private placement basis to IFC, the company said in a regulatory filing to the stock exchanges on Wednesday. The IFC funding will support the company to increase its reach and penetration in the affordable housing finance segment. While RHFL’s income from operations grew by 19% to Rs 1,044.2 crore in FY17 from Rs 880.7 crore in the previous year, interest income grew by 21% to Rs 367.8 crore from Rs 303.9 crore. The net profit grew 21% to Rs 182.3 crore, compared with Rs 150.1 crore. The loan book expanded 16% to Rs 8,939.9 crore from Rs 7,691.2 crore. Loans to the self-employed segment accounted for 60.2% of the outstanding loan book and loans against property stood at 20.2% of the same.
Gross NPAs stood at 2.60% as on March 2017 and net NPAs stood at 1.39%. The provision coverage ratio stood at 47.3%. The capital adequacy ratio provisionally was at 20.8%, comprising entirely tier-1 capital of Rs 1,083.3 crore. As on March 31, 2017, the company has a network of 125 branches and 32 satellite centres spread across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala, Maharashtra, Odisha, Gujarat, West Bengal, Madhya Pradesh, Jharkhand and the Union territory of Puducherry. The company listed is promoted by Repco Bank, a multi-state cooperative society, which owns 37.14%. The balance is held by domestic and foreign investors.