Bajaj Housing Finance Limited, one of the leading housing finance companies in India, has reported record growth in the third quarter of 2020. The company’s strong performance comes amid the challenging economic environment brought about by the COVID-19 pandemic.
According to the latest financial results released by Bajaj Housing Finance, the company saw a significant increase in its total income during the third quarter of 2020. The company reported a total income of Rs 2,317 crore, representing a growth of 55% compared to the same period last year. This strong growth in income can be attributed to increased lending activity and a rise in demand for home loans.
The company’s net profit also witnessed a robust growth during the third quarter of 2020. Bajaj Housing Finance reported a net profit of Rs 976 crore, marking a growth of 83% compared to the same period last year. This impressive growth in net profit can be attributed to the company’s focus on cost management and operational efficiency.
Bajaj Housing Finance’s loan book also saw a healthy growth during the third quarter of 2020. The company reported a loan book size of Rs 23,565 crore, representing a growth of 22% compared to the same period last year. This growth in the loan book can be attributed to the company’s strategic focus on expanding its presence in the affordable housing segment.
Commenting on the company’s performance, Mr. Rajeev Jain, Managing Director of Bajaj Housing Finance, said, “We are delighted to report record growth in the third quarter of 2020. Despite the challenging economic environment, we have been able to deliver strong financial results, driven by our focus on customer-centricity, digital innovation, and operational efficiency. We remain committed to supporting the housing finance needs of our customers and contributing to the growth of the housing finance sector in India.”
Looking ahead, Bajaj Housing Finance remains optimistic about its growth prospects. The company is focused on leveraging its strong brand presence, robust distribution network, and innovative product offerings to further strengthen its position in the housing finance market. With a strong financial performance in the third quarter of 2020, Bajaj Housing Finance is well-positioned to capitalize on the opportunities in the housing finance sector and continue its growth trajectory in the coming years.
