Sammaan Capital Limited (formerly known as Indiabulls Housing Finance Limited) has announced its financial results, showcasing a solid performance with growth in both revenue and profit, alongside an increase in asset quality ratios.

Revenue Growth

The company reported a total revenue of 24.00 billion rupees, marking a 9% increase from 22.00 billion rupees in the same period last year. This growth demonstrates Sammaan Capital's resilience and ability to expand its business in the current economic environment.

Profit Performance

Sammaan Capital's consolidated net profit reached 3.34 billion rupees, compared to 3.26 billion rupees in the previous year, indicating a modest year-on-year increase of 2.5%.

Asset Quality

The company reported a rise in its asset quality ratios:

• Gross non-performing assets (GNPA) increased to 2.07% from 1.8% in the previous quarter.
• Net non-performing assets (NNPA) rose to 1.2% from 1.1% quarter-on-quarter.

Financial Highlights

All figures in billion rupees

Operational Performance

The company's performance was driven by several factors:

1. Interest Income: Sammaan Capital reported an interest income of 15.64 billion rupees.

2. Fees and Commission Income: The company saw an increase in fees and commission income, reaching 622.40 million rupees, up from 287.50 million rupees in the same period last year.

3. Net Gain on Fair Value Changes: This component contributed 420.50 million rupees to the company's revenue.

4. Net Gain on Derecognition of Financial Instruments: The company recorded a substantial gain of 7.32 billion rupees under this category, significantly boosting its overall revenue.

Expense Management

Sammaan Capital's total expenses stood at 19.41 billion rupees. The major components of expenses included:

• Finance costs: 11.96 billion rupees
• Impairment on financial instruments: 4.66 billion rupees
• Employee benefits expenses: 1.84 billion rupees

Balance Sheet Strength

Sammaan Capital maintained a strong balance sheet with:

• Total assets of 6,440.92 billion rupees
• Loans portfolio of 3,640.17 billion rupees
• Investments totaling 1,829.64 billion rupees

Management Commentary

Gagan Banga, Vice-Chairman, Managing Director & CEO of Sammaan Capital, stated, "Our results demonstrate the company's ability to grow revenue and maintain profitability in a dynamic market environment. We remain committed to our strategic objectives and continue to focus on sustainable growth while maintaining robust risk management practices."

Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has successfully raised ₹50 crore through the allotment of non-convertible debentures (NCDs) in a private placement. The company made this announcement in its latest filing with the stock exchanges.

Key Details of the NCD Issuance

Security and Listing

The NCDs are secured by a charge on the company's financial and non-financial assets, maintaining a minimum asset coverage of 1.1 times the principal amount and interest. These debentures will be listed on both the National Stock Exchange of India Limited (NSE) and BSE Limited.

Interest Payment Schedule

The first coupon payment is due on November 04, 2025, with subsequent quarterly payments until maturity. In case of any payment default, an additional interest of 2% per annum over the coupon rate will be charged for the defaulting period.

Financial Implications

This NCD issuance provides Sammaan Capital with a significant influx of funds, potentially strengthening its financial position and supporting its business operations. The 9.20% coupon rate reflects the current market conditions and the company's credit rating.

Investor Perspective

For investors, these NCDs offer a fixed income opportunity with quarterly payouts over a three-year period. The security provided by the asset coverage and the listing on major stock exchanges add to the attractiveness of these instruments.

Sammaan Capital's successful raising of funds through this NCD issuance demonstrates its ability to access debt markets and potentially indicates investor confidence in the company's financial health and future prospects.

As the financial landscape continues to evolve, such debt instruments play a crucial role in providing companies with the necessary capital for growth and operations while offering investors alternative investment options in the fixed-income space.