I don't know if you have observed that they are among the few once to increase the interest rates, but when it comes to reduce the same they are among the last few. They are not good for their existing customers. I am thinking of moving away from India bulls.MoreLess
Indiabulls Housing Finance has witnessed a rise in its stock price by 2.2 percent on New York Stock Exchange after the government issued guidelines in respect of interest subsidy for middle income group home loan applicants. Government has released new guidelines for the home loan borrowers of middle income group. Potential home loan borrowers with an annual income between Rs. 6 to 18 lakhs can now get an interest subsidy of up to 4 percent for home loan of Rs. 12 lakhs and above.
Indiabulls Housing Finance has approved allotment of 61,605 thousand shares of face value of Rs. 2 each under its ESOP scheme. After the allotment, shares of the NBFC rose to Rs. 858 on stock exchange.
Indiabulls Finance has reported a decent growth across its various loan segments including commercial loans, home loan and loan against property during third quarter of FY17 as compared to third quarter of FY16. Portfolio of individual home loan and loan against property has grown by 35 and 20 percent respectively during the quarter on year on year basis.
Indiabulls Housing Finance has reduced its home loan interest rate for existing home loan borrowers by 15 basis points. The revised floating rate of interest for home loan now ranges between 8.90 to 10.50 percent for different borrowers. The new rates will be effective from February, 2017.
Indiabulls Housing Finance reported a growth of 25 percent in its net profit to Rs. 751 crore for third quarter ending on 31st December, 2016 as compared to Rs. 602 crore for the corresponding period a year ago. The growth in profit has been contributed by a healthy growth in volume of loan disbursements across various loan types including affordable housing loans and loan against property.
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