IIFL Finance , a leading retail-focused diversified NBFC in India, has reported strong financial results for the quarter ended September 30, 2023. The company's consolidated net profit after tax stood at Rs 417.94 crore, marking a significant 61% increase from Rs 258.11 crore in the previous quarter.

Financial Highlights

• Total income for the half year increased to Rs 6,268.46 crore from Rs 5,193.74 crore in the corresponding period.
• The company's loan book grew to Rs 60,150.58 crore from Rs 55,364.26 crore.
• IIFL Finance maintains a debt-equity ratio of 4.18.
• Gross Non-Performing Assets (GNPA) stood at 2.14%, with Net Non-Performing Assets (NNPA) at 1.02%.

Key Management Appointments

The board has approved amendments to the insider trading code and made key management appointments:

• Mr. Pranav Dholakia has been re-designated as Head of Construction and Real Estate.
• Mr. Rahul Sanklecha has been appointed as Chief Risk Officer.

Both appointments are effective from November 1, 2023.

Business Operations

IIFL Finance, along with its subsidiaries, offers a wide range of products including home loans, gold loans, business loans, microfinance, capital market finance, and developer & construction finance. The company serves customers through its network of branches and digital channels across India.

Financial Performance

The significant increase in profitability and substantial growth in the loan book reflect IIFL Finance's performance in the quarter. The company's diverse product portfolio and customer base contribute to its position in the Indian financial services sector.

IIFL Finance , through its material subsidiary IIFL Home Finance, has announced a significant change in its top leadership. The company has appointed Girish Kousgi as its new Managing Director and Chief Executive Officer, effective October 30, 2025. This strategic move aims to strengthen IIFL Home Finance's position in the affordable housing finance segment and accelerate growth across its business verticals.

A Seasoned Leader at the Helm

Girish Kousgi brings nearly three decades of leadership experience in the banking and financial services sector to his new role at IIFL Home Finance. His appointment comes at a crucial time for the housing finance industry, which is poised for significant transformation and growth.

Responsibilities and Expertise

In his new position, Kousgi will be responsible for leading IIFL Home Finance's entire business operations, including:

• Home loans
• Non-home loan segment
• MSME loans
• Construction finance

Kousgi's expertise spans across various aspects of financial services:

• Asset and liability management
• Mortgages
• SME and Agri finance
• Retail lending
• Deposit products

Professional Background

Prior to joining IIFL Home Finance, Kousgi has held several prominent positions in the financial sector:

During his tenure at these organizations, Kousgi managed diverse portfolios across sales, credit, product, and risk functions, demonstrating his strategic acumen in various areas of financial services.

Vision for IIFL Home Finance

Commenting on his appointment, Girish Kousgi expressed his enthusiasm for joining IIFL Home Finance at this pivotal time. He stated, "I am honoured to join IIFL Home Finance at a pivotal time for the housing finance industry, which is on the cusp of significant transformation and growth. I look forward to contributing to the Company's mission of making housing finance more accessible and affordable for every aspiring Indian homeowner."

Kousgi also highlighted the potential for growth in the sector, mentioning, "With the continued momentum from initiatives like PMAY 2.0 and other government-led housing programs, we are well-positioned to offer tailored financial solutions to the EWS and LIG segments, helping more families realise their dream of owning a home."

IIFL Home Finance: A Snapshot

IIFL Home Finance has established itself as a leading player in the affordable housing finance sector:

The company focuses on underserved and emerging geographies, including suburbs of Tier 1 cities and Tier 2 to Tier 4 towns, with residential property serving as collateral.

With Girish Kousgi's appointment, IIFL Home Finance aims to further strengthen its leadership position in the affordable housing finance segment and accelerate its growth trajectory across business verticals. This strategic move aligns with the company's mission of making housing finance more accessible and affordable for aspiring homeowners across India.