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सहारा हाउसिंगफिना कॉर्पोरेशन

बीएसई: 511533  |  NSE: N.A  |  ISIN: INE135C01012  |  Finance - Housing

खोजें सहारा हाउसिंगफिना कॉर्पोरेशन कनेक्शन Mar 11
अध्यक्षीय भाषण साल : Mar '13
Dear Shareholder,
 
 Housing is one of the three basic needs for all human beings across the
 income spectrum. Housing is twice blessedat the individual level, in
 terms of improving their quality of life and at the macro level in
 terms of capital formation by boosting household savings, backward and
 forward linkages with other sectors. Home ownership has emerged as an
 individual and a social goal in our country. Housing brings financial
 security constituting as it does for low and middle income Indians
 their most valuable asset. In addition, it generates emotional and
 psychological well being. As it is said, housing is a verb and not a
 noun.
 
 Housing is a basic necessity. Yet a large number of households do not
 have access to decent housing, particularly in a developing country
 like ours. In view of the importance of housing, a key element of
 public policy in many countries has been to encourage house ownership
 largely through fiscal incentives and better availability of housing
 finance. While development of housing finance in advanced countries has
 a long history, the expansion of housing finance by the formal
 financial sector in India is relatively of a recent origin.
 
 The major focus at Sahara Housingfina Corporation Limited (SHCL) has
 been to provide home loans to individuals and families for purchase,
 construction, extension, repair and renovation of houses. The Company
 has also developed loan products for the families in the self-employed
 category where formal income proofs are not
 
 easily available and the repayment capacity of such families are
 appraised based on their cash flows. The Company has devised loan
 products to cater to the varying needs of its customers including those
 of urban poor; a growing community of borrowers across the industry.
 
 During the year ended March 31, 2013, your Company recorded a gross
 total income of Rs. 2152.22 lacs, Profit Before Tax (PBT) of Rs. 264.55
 lacs and Profit After Tax (PAT) of Rs. 200.51 lacs. The Net Owned Fund
 (NOF) & Assets under Management (AUM) of the Company as on March 31,
 2013 stood at Rs. 2890.52 lacs and Rs. 15729.89 lacs, respectively.
 Earnings Per Share (EPS) as on that date was Rs. 2.86. It is important
 to mention that despite more than 100% increase in the business during
 the year (incremental loans), the Company''s PAT and consequently the
 EPS declined marginally in comparison to previous financial year as a
 result of additional provisions on Standard Loan Assets to the tune of
 Rs. 61.16 lacs as regulatorily prescribed. There is clearly still a
 long way to go before the company can be said to be fulfilling its
 potential.
 
 The Company continues to face challenges like resource mobilisation to
 generate new business, and other common challenges facing the Industry
 like managing higher cost of funds, maturity mismatches
 (asset-liability mismatches), containing non-performing assets (NPAs),
 rising interest rates, thinning profit margins and fierce competition
 despite a robust demand.
 
 Keeping in view the demand-supply gap, our favourable demography,
 increasing urbanisation and better growth prospects, the demand for
 housing finance will continue to grow. The challenge, therefore, is
 expansion of housing finance to a wider section of the population with
 the necessary safeguards to preserve financial stability.
 
 With the trust and confidence of our valued customers and investors and
 the support of the Regulator and the lending institutions, SHCL will be
 surely able to establish itself as a prominent player in the Housing
 Finance sector in India.
 
 D. J. Bagchi
 
 Chief Executive Officer
स्रोत: रेलीगरे टेचनोवा

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