ICRA upgrades Aptus Value Housing to AA- Stable from A+ Stable
Aptus Value Housing Finance India Ltd, a leading Housing Finance company has seen a rating upgrade for its long-term instruments from ICRA A+ Stable to ICRA AA-Stable.
Chennai: Aptus Value Housing Finance India Ltd, a leading Housing Finance company has seen a rating upgrade for its long-term instruments from ICRA A+ Stable to ICRA AA-Stable.
The rationale behind the rating action factors the company’s strengthened capital profile and track record of maintaining healthy profitability and asset quality.
Commenting on the rating upgrade, Mr.P. Balaji, Executive Director and Chief Financial Officer stated “We have managed to keep our return on managed assets in the range of 6.3% to 6.5% over the last 3 years.
The infusion of fresh equity through the IPO proceeds has strengthened our net worth that will support our portfolio growth over the medium term.
Though there was a drop in collection efficiencies in the months of April and May 2021 like any other company due to pandemics, both disbursements and collection efficiencies have reached pre covid levels.
About Aptus Value Housing Finance India Limited: (aptusindia.com; BSE: 543335; NSE: APTUS)
Aptus Value Housing Finance India Limited is one of the largest affordable housing finance companies in south India in terms of AUM.
The company offers home loans for purchase and self-construction of residential property, home improvement, extension loans, loans against property, and business loans, primarily to first-time homebuyers belonging to the low and middle-income groups.
The company has a network of 200 branches catering to over 75000 customers in Tamil Nadu (including the Union Territory of Puducherry), Andhra Pradesh, Karnataka, and Telangana.