HomeFirst PAT grows 12 pc in first quarter

HomeFirst, a tech-driven affordable housing finance company that targets first time buyers in low and middle-income groups, reported total income of Rs 142 crore in Q1 FY22, growth of 5.8 per cent from Rs 134 crore in Q1 FY21.

According to a press release, the company’s PAT at Rs 35 crore was sequentially up by 12.2 pc from Rs 31 crore in Q4 FY21.

Commenting on the performance Manoj Viswanathan, MD & CEO, HomeFirst, said, “Our Q1 FY22 performance was strong, considering that we had to deal with a severe second wave of COVID. We recorded an AUM growth of 18.5 pc y-o-y and a sequential growth in PAT of 12.2 per cent.”

He expected the upward trend to continue as the overall opportunity remained large; supported by low interest rates and muted house prices, driving strong business growth.