NoFund: Housing Finance Com cuts down disbursements

By Accommodation Times Bureau

NEW DELHI

This year as RBI examines tighter regulations and finance market becomes cautions, the non-banking finance companies including housing finance firms tend to be staring at low growth and higher credit cost.

According to the source, the growth by 200-500 basis points would be down as lending declines by banks. Although some NBFCs has already cut a bit payment target this year.

Karthik Srinivasan, senior vice-president of rating agency Icra said to one of publication that, “Going by the current situation, the growth is likely to slow down by 200-300 basis points to 15% for FY19. While market rates are up 80-100 basis points since the beginning of the year, the weighted average cost of funds for NBFCs is expected to rise 50-60 basis points.”

According to source from DHFL, the company had a loan book of Rs 1 lakh crore at the end of June and said postponed big ticket size loan and going very selective on affordable housing.

The NBFCs like Aadhar Housing has decreased on loan disbursement target and Edelweiss has reduced assets growth estimates for the sector by 5-7%.

Recently RBI announced to maintain GDP projection at 7.4% for FY19 and whereas it saw two-year high growth at 8.2% in April-June phase.

The RBI recently said looking to tighten guidelines non-banking lenders, which saw fell of NBFCs share up to 8.5 per cent.

 

 





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