Repco records 83% growth !!

REPCO Home Finance (RHFL), a subsidiary of the government enterprise Repco bank has reported a 83% growth in net profit at Rs 11.53 crore for the year ending March 31, 2007 against Rs 6.30 crore in the previous year. The return on capital increased to 24.83% (21.39%).

RHFL has also netted an increase of 50% in the housing loan portfolio, with the cumulative loan approvals touching Rs 611 crore last year. Operating income logged a 61.52% growth at Rs 44.37 crore up from Rs 27.47 crore. While cumulative loan disbursement stood at Rs 571 crore when compared to the previous year’s figure of Rs 378 crore, clocking an increase of 51%, the loan disbursements during 2006-07 stood at Rs 193 crore up from Rs 134 crore.

The outstanding housing loans, for the company, which has 24 centres in south India, was Rs 442 crore, compared to Rs 298 crore in the previous fiscal. Repco Home Finance also reported a compounded annual growth rate (CAGR) of 85% over the last five years. RHFL has declared a dividend of Rs 12.50 and is targeting an outstanding home loan portfolio of Rs 650 crore for the current fiscal. Further, the company expects an overall growth of 50% and set a disbursement target of Rs 297 crore.