Fresh loans by NBFCs reach pre-Covid levels – Times of India

CHENNAI: NBFCs hit pre-Covid levels in new loan disbursements in the second quarter of FY12, after posting sluggish growth in the April-June quarter due to the second Covid wave.
HDFC said July distributions were the highest ever in the non-quarter month. Its Managing Director Renu Sood Karnad said, “There has been an increase in home loans from both the affordable housing segment as well as high-end properties.”
“The pandemic has reinvigorated the importance of home ownership. The concept of working from home is also meeting the need and creating a demand for larger spaces as a subset,” says Wai Vishwanath Gaudi, MD & CEO LIC Housing Finance.
Shriram Housing Finance disbursed more new home loans to touch Rs 650-700 crore in July-September, 2021 from Rs 220 crore in April-June quarter. “We have already reached the pre-Covid level of disbursement of loans,” says Ravi Subramaniam, its MD and CEO. In August, M&M Finance reported a 57% year-on-year growth in disbursements of Rs 2,150 crore. Indiabulls Housing Finance said fresh loan disbursements have picked up pace since July, registering impressive month-on-month growth. In August, it disbursed retail loans of around Rs 550 crore and expects to disburse retail loans of around Rs 750 crore in September.

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