BOB Housing Finance aims high
By Venkatachari Jagannathan | 20 Jun 2001
The
Jaipur-headquartered BOB Housing Finance is aiming high
indeed. It is targeting a disbursement of Rs. 240 crore
this fiscal, a 63.33 per cent increase over the previous
years
figure. That apart, the company intends to get into consumer
loan segment.
Mr. D.K. Govil, managing director, said that during the
fiscal ended 31 March 2001, the company reported excellent
performance. The net profit went up to Rs.8.89 crore clocking
an impressive 42.30 per cent over the previous fiscal.
The pre tax profit has risen from Rs.8.24 crore to Rs.11.68
crore.
Last year the company sanctioned fresh loans to the tune
of Rs.146.94 crore and taking the total
outstanding loans to Rs.342.70 core as against Rs.255.22
crore as on 31.3.2000. During the year under review, BOB
Housing disbursed Rs. 50 crore to 2,578 beneficiaries
in rural and semi-urban areas under golden Rural Housing
Scheme of National Housing Bank.
While silent on the non -performing assets relating to
project loans officials say the NPA on the individual
loan accounts is just 1.27 per cent.
With the demand for housing loans picking up what with
lending rates coming down, BOB Housing plans to expand
its reach by opening offices in Kolkata, Chandigarh, Gurgaon,
Hyderabad, Raipur and Aurangabad. Currently the company
has 25 offices.
