Sammaan Capital Reports Rs 308 Crore Q2 Profit, Approves Rs 8,850 Crore Preferential Issue

Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has reported a significant increase in profit for the quarter ended September 30, 2025, along with the approval of a substantial preferential issue. The company's financial results and strategic moves indicate a period of growth and capital strengthening.

Financial Performance

Sammaan Capital reported a standalone profit of Rs 308 crore for Q2 FY26, marking a substantial rise from Rs 109 crore in the same period last year. This represents a year-on-year growth of approximately 182.57%. The company's total income for the quarter increased marginally to Rs 2,089 crore from Rs 2,068 crore in the previous year.

Key Financial Metrics

Metric	Q2 FY26	Q2 FY25	Change
Profit	308.00	109.00	182.57%
Total Income	2,089.00	2,068.00	1.02%
Net Interest Income (NII)	975.00	1,187.00	-17.86%
Gross NPA	1.40%	2.40%	-100 bps
Net NPA	0.80%	1.40%	-60 bps

The company's asset quality showed improvement, with Gross Non-Performing Assets (GNPA) decreasing to 1.40% from 2.40% year-on-year, and Net Non-Performing Assets (NNPA) reducing to 0.80% from 1.40%.

Strategic Developments

Preferential Issue Approval

The board of Sammaan Capital has approved a preferential issue worth approximately Rs 8,850 crore to Avenir Investment RSC Ltd. This strategic move is subject to shareholder and regulatory approvals. Shareholders have already approved this resolution at an extraordinary general meeting held on October 29, 2025.

Capital Raising

During the quarter, Sammaan Capital raised $300 million through Senior Secured Social Bonds. Additionally, the company raised an extra $450 million post-quarter, further strengthening its financial position.

Regulatory Classification

The Reserve Bank of India has categorized Sammaan Capital as an Upper Layer NBFC, reflecting its significant position in the financial sector.

Business Focus

Sammaan Capital continues to primarily engage in finance and mortgage-backed lending activities. The company's growth strategy appears to be focused on strengthening its capital base and expanding its lending operations.

Future Outlook

With the approval of the preferential issue and successful bond raises, Sammaan Capital is positioning itself for potential growth in its core lending business. The improved asset quality and capital infusion may support the company's expansion plans in the coming quarters.

Investors and stakeholders will be watching closely to see how Sammaan Capital leverages this capital infusion to drive growth and maintain its improved asset quality in the competitive finance and mortgage lending sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.95%	-0.56%	+16.43%	+54.73%	+31.14%	-3.96%

Sammaan Capital Limited , formerly known as Indiabulls Housing Finance Limited, has issued a corrigendum to its Extraordinary General Meeting (EGM) notice scheduled for October 29, 2025. The corrigendum addresses clarifications requested by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) regarding the company's proposed preferential issue of equity shares and warrants.

Key Details of the Preferential Issue

The company plans to raise a total of INR 8,850 crore through the preferential issue. The funds will be utilized as follows:

Purpose	Allocation	Amount (INR Crore)
Onward Lending Purposes	80%	7,080.00
General Corporate Purposes	20%	1,770.00

Utilization of Funds

Sammaan Capital intends to use the funds for various purposes, including:

Augmenting the company's capital base
Improving leverage ratio
Onward lending and financing business

The company plans to offer loans for:

Housing loans to individuals
Loans to developers for residential construction
Corporate employee housing loans
Secured/mortgaged backed loans to MSMEs/corporates
Loans against property for working capital and personal/business needs
Mortgage loans to real estate developers
Construction finance for commercial premises

Strategic Focus

Post-completion of the preferential issue, Sammaan Capital aims to consolidate its leadership in secure retail mortgage and MSME segments through:

Run-down of legacy loans with steady cash collections
Expansion of asset-light co-lending and direct assignment models
Accelerated deployment of technology and AI initiatives
Broad geographic reach spanning 220 branches and over 4,400 employees
Strengthened focus on ESG goals

Shareholding Pattern

The post-preferential issue shareholding pattern will see significant changes:

Category	Pre-Issue (%)	Post-Issue (%)
Promoter and Promoter Group	0.00	43.46
Public Shareholding	98.08	55.46
Non Promoter - Non Public	1.92	1.08

An investor will acquire a 43.46% stake and become a promoter of the company post-issue.

Timeline and Utilization

The company estimates that the entire issue proceeds will be utilized for the specified objects within 12 months from the receipt of all funds. The funds will be received in one or more tranches between the date of allotment of the subscription warrants and the expiry of 18 months thereof.

Sammaan Capital has stated that any deviation in the estimation of objects (permitted up to ±10%) will be used only towards the said objects inter-se and not for general corporate purposes.

The corrigendum forms an integral part of the EGM Notice circulated to shareholders on October 7, 2025. Shareholders and other stakeholders are advised to read the EGM Notice in conjunction with this corrigendum.