Aptus net up 36% at Rs 503 cr

CHENNAI: With Rs 6,738 crore assets under management, Aptus Value Housing Company has disbursed Rs 2,395 crore, an increase of 46 per cent on a year-on-year basis. The city-based company reported Rs 503 crore net profit, a surge of 37 per cent year on year (Y-o-Y).

M Anandan, executive chairman, in a release, said, “Our sharp business focus, deep penetration in served markets and customer centricity have enabled us to achieve good growth. Enhanced digital adoption in customer sourcing, underwriting, collections and risk management also supported the business growth well.”

“We have crossed the coveted milestone of serving more than 1,00,000 customers. During FY23, we disbursed Rs 2,395 crore registering a growth of 46% year on year. We have built a strong branch network of 231 branches to deliver quality service to our customers. Aptus is well capitalised with a net worth of over Rs 3,300 crore. As on Mar 31, 2023, we have maintained sufficient on balance sheet liquidity of over Rs 511 crore without including undrawn sanctions of Rs 625 crore from National Housing Bank/Banks.”

Noting that Aptus had a strong capital base and prudent borrowing practices, he said “despite rise in interest rates, we continued to grow consistently and delivered an AUM growth of 30% year.”