Press Release30 Apr 2024, 12:26 am
IndoStar Capital Finance Ltd Reports 49% Growth in Retail AUM for FY24
AI Summary
IndoStar Capital Finance Ltd, a Middle-layered NBFC, announced its audited financial results for the quarter and year ended 31 March 2024. The company reported a significant growth in retail Assets Under Management (AUM) in its core Consumer Vehicles (CV) and Affordable Housing businesses, recording an increase of 49% over the past year from 5,295 crore in FY23 to 7,864 crore at the end of FY'24.
Key Highlights
- AUM growth of 49% in core CV and Affordable Housing businesses from FY23-FY24
- Consolidated AUM stood at 8,763 crore
- Retail AUM reached 7,864 crore, an increase of 49%
- Incremental funding of 1,845 crore raised during Q4 FY24
- Debt/Equity Ratio improved to 2.3x times
- Gross Stage 3 assets decreased to 4.10% for FY24
- Net Stage 3 assets reduced to 1.80% for FY24