NBFC loan disbursements reach pre-Covid levels
With the easing of restrictions and decline in cases, the fresh loan disbursements in the second quarter of FY 22 have reached the pre-Covid levels.
The NBFCs had witnessed tepid growth in April-June, 2021, after the second wave of Covid-19. However, with the easing of restrictions and decline in cases, the fresh loan disbursements in the second quarter of FY 22 have reached the pre-Covid levels.
Renu Sud Karnad, MD, HDFC said, “Growth in home loans came from both the affordable housing segment as well as high-end properties.” In a non-quarter end month, disbursements in July were recorded as the highest, as per HDFC.
Y Viswanatha Gowd, MD and CEO of LIC Housing Finance, said that the value of house ownership has been revived owing to the Covid-19 pandemic. He added, ” The concept of work-from-home is also fuelling the need and creating a demand for larger spaces as a subset.”
Shriram Housing Finance reached Rs 650-700 crore mark in July-September, 2021 as it disbursed more fresh home loans. Earlier in the April-June quarter, it was Rs 220 crore. “We have already reached the pre-Covid levels of disbursement of loans,” Ravi Subramanian Its MD and CEO of Shriram Housing Finance, added.
M&M Finance saw a 57% YoY growth in disbursement at Rs 2,150 crore in August. In July Indiabulls Housing Finance’s fresh loan disbursements delivered impressive growth month-on-month.
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