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Bottomline: Warburg-owned Shriram Housing maintains profit, AUM growth trend in FY24

VCCircle

VCCircle · 10m ago

Bottomline: Warburg-owned Shriram Housing maintains profit, AUM growth trend in FY24

- Shriram Housing Finance reports a 58% increase in net profit for FY24 - Assets under management (AUM) continue to grow at a high double-digit rate - Private equity firm Warburg Pincus acquires Shriram Housing in May - Ravi Subramanian serves as the Managing Director and CEO of Shriram Housing - Net profit for the year ended March 2024 amounts to Rs 217.4 crore

Related News

Warburg Pincus wins a heated race for Shriram Group’s housing finance biz

Livemint

Livemint · 1y ago

Warburg Pincus wins a heated race for Shriram Group’s housing finance biz

US-based investment firm Warburg Pincus has acquired a controlling stake in Shriram Housing Finance, a subsidiary of Shriram Group, for INR 46.3bn ($640m). The deal marks Warburg Pincus's largest investment in India to date and positions the company in the country's affordable housing finance sector, which is expected to expand at a compound annual growth rate of 12-14% by 2025. Shriram Housing Finance will continue to operate as a stand-alone entity, with the existing management team remaining in place. The transaction is set to be completed by 7 February 2025.

Grapevine: Mubadala may join hands with Warburg for Shriram Housing; Brookfield eyes Leela Palaces Listing

VCCircle

VCCircle · 1y ago

Grapevine: Mubadala may join hands with Warburg for Shriram Housing; Brookfield eyes Leela Palaces Listing

UAE sovereign fund Mubadala is reportedly in talks to partner with Warburg Pincus for the purchase of a majority stake in Shriram Housing Finance, a subsidiary of Shriram Finance. Meanwhile, Brookfield Asset Management is considering listing Leela Palaces as it seeks to expand its hospitality business in India. Mubadala is said to be exploring multiple investment opportunities in the Indian market, while Warburg Pincus and Bain Capital are also contenders for the Shriram Housing Finance deal.

Bain or Warburg—Who will get Shriram’s housing loan business?

Livemint

Livemint · 1y ago

Bain or Warburg—Who will get Shriram’s housing loan business?

India's Shriram Group is reportedly in talks with US-based firms Warburg Pincus and Bain Capital to sell its housing arm, Shriram Housing Finance, for around INR 5,000 crore ($675 million). The sale is part of the group's strategy to reshape its growth plans. If the negotiations are successful, the deal could be concluded before the end of June. Shriram Group has appointed investment bankers from Barclays, JM Financial, and Avendus Capital to shortlist potential buyers. The proceeds from the sale will be used to expand new businesses and strengthen its balance sheet.

Warburg Pincus to acquire mortgage lender in its largest India deal

VCCircle

VCCircle · 1y ago

Warburg Pincus to acquire mortgage lender in its largest India deal

Private equity firm, Warburg Pincus, has made its largest deal in India to date by acquiring Shriram Housing Finance Ltd. This marks their significant investment in the country since starting operations there over 20 years ago. The mortgage lender will be acquired from Shriram Finance Ltd and another private equity firm. The deal showcases Warburg Pincus' continued interest in the Indian market.

Warburg leads race for Shriram unit; Hindujas, Dixon weigh M&As

VCCircle

VCCircle · 1y ago

Warburg leads race for Shriram unit; Hindujas, Dixon weigh M&As

Private equity firm Warburg Pincus is leading the race to acquire Shriram Housing Finance Ltd, a unit of Shriram Finance. Bain Capital is also competing for the mortgage lender. Meanwhile, the Hinduja Group and Dixon Technologies are considering potential mergers and acquisitions.

Bottomline: TPG-backed Grihum Housing's AUM tops $1 bn, asset quality worsens

VCCircle

VCCircle · 6m ago

Bottomline: TPG-backed Grihum Housing's AUM tops $1 bn, asset quality worsens

Grihum Housing Finance, backed by TPG, has achieved an assets under management (AUM) milestone of over $1 billion in the first half of the financial year starting April 2024. This growth positively influenced net profits for FY24 and the first half of FY25. However, there are concerns over the company's deteriorating asset quality, despite its financial advancements. The management, led by MD & CEO Manish Jaiswal, navigates these dual fronts of growth and challenges.

Warburg Pincus-backed Shriram Housing rebrands as Truhome Finance

VCCircle

VCCircle · 6m ago

Warburg Pincus-backed Shriram Housing rebrands as Truhome Finance

Shriram Housing, an affordable housing finance company, has rebranded as Truhome Finance following its acquisition by Warburg Pincus for Rs 4,630 crore. Qatar Investment Authority joined the cap table post-acquisition. Despite the rebrand, the company's mission to provide accessible home loans remains unchanged. Truhome has 165 branches and reported a 58% rise in net profit to Rs 217.4 crore in the fiscal year ending March 2024, with assets under management reaching Rs 16,000 crore.

Bottomline: PE-backed lender Aviom aims to double AUM as profit, margin improve

VCCircle

VCCircle · 1y ago

Bottomline: PE-backed lender Aviom aims to double AUM as profit, margin improve

PE-backed lender Aviom India Housing Finance plans to double its assets under management (AUM) during the current fiscal year. The company recorded a 70% increase in AUM for the previous fiscal year and is also aiming to improve its profit and net interest margin. Aviom focuses on providing small-ticket home loans to individuals in rural and underserved areas.

Bottomline: Fullerton-backed Lendingkart’s FY24 profit nearly halves; revenue, AUM up

VCCircle

VCCircle · 1y ago

Bottomline: Fullerton-backed Lendingkart’s FY24 profit nearly halves; revenue, AUM up

Lendingkart Finance Ltd, a non-banking financial company (NBFC) owned by the Lendingkart Group, reported a decrease in net profit for the financial year ending March 2024. Despite this, the company saw an increase in revenue from operations and assets under management (AUM). Lendingkart's net profit dropped to Rs 60 crore ($7.2 million), indicating a decline in profitability. However, the company achieved growth in its overall business operations.

Bottomline: Vastu Housing Finance’s AUM for last fiscal soars past $1 bn mark

VCCircle

VCCircle · 1y ago

Bottomline: Vastu Housing Finance’s AUM for last fiscal soars past $1 bn mark

Vastu Housing Finance, a non-banking finance company controlled by Multiples PE, saw a substantial increase in its assets under management (AUM) for the financial year 2024, surpassing the $1 billion mark. The company's annual report showed strong growth in its AUM, indicating positive financial performance. The lender, led by Sandeep Menon, founder, MD, and CEO, continues to improve its financial metrics steadily.

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