Any current/future new fundraising through debt or equity?

In FY24, SRG Housing Finance Ltd raised ₹227.80 crores, with 40% from public sector banks and the rest from financial institutions. Total borrowings stood at ₹491 crores. The company plans to raise additional equity of ₹50-100 crores in FY25, with board approval already in place and expects to close this within one to two months. The current debt-to-equity ratio is 3x; the company aims to maintain leverage up to 10x with SBI approval, while RBI allows up to 12x for housing finance companies. Up to ₹1000-1500 crores of equity funding is considered sufficient for current growth plans, reducing t

Any current/future capex/capital investment/strategic investment?

SRG Housing Finance Ltd is in full expansion mode with plans to open 25 new branches. New branches are being established primarily in Maharashtra, Karnataka, Tamil Nadu, Telangana, and Andhra Pradesh. The company has finalized locations and recruited expert teams, including branch managers, for these expansions. The Mumbai corporate office has been set up as a Pan-India business expert hub to monitor these expansions. Branch expansion timeline: 15 new branches planned for Q2 FY25 and 10-15 branches in Q3 FY25. Each new branch typically takes 4-6 months to break even; some existing branches rea

Future growth expectations in sales/revenue/volumes?

FY25 target disbursement: ₹400 crores (average monthly ₹30-35 crores) FY25 target AUM: ₹700-780 crores (growth of about ₹200 crores from FY24) FY26 target AUM: Expected to cross ₹1,000 crores Expansion plan: Opening 25-30 new branches in FY25, including Maharashtra, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh Branch network target: 90 branches in FY25; over 100 branches by FY26 Equity raise planned in FY25: ₹50-100 crores to support growth and new branches Borrowing mix stable with a debt-to-equity ratio currently 3x, with potential leverage up to 10x as per approvals Effici

Future growth expectations in earnings/operating earnings/profits/EPS?

FY24 Profit Before Tax: ₹26 crores, up from ₹21 crores last year (23.8% growth). Net Interest Income increased from ₹44 crores to ₹59 crores (34% growth). EPS rose from ₹13.12 to ₹15.87 in FY24 (21% growth). Target AUM for FY25 is ₹780 crores, up from ₹601 crores in FY24, indicating continued portfolio growth. Disbursement target for FY25 is ₹400 crores, up from ₹283 crores in FY24, implying top-line growth. Expect operating cost growth moderated with scaling: doubling AUM needs only 10%-20% team size increase, leading to better expense ratios. Plans to raise ₹50-100 crores equity in FY25 to s

SRG HousingQ4 FY24Finance

SRG Housing Q4 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹99P/E: 4.5Market Cap: ₹156 CrSector: Finance

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

FY25 target disbursement: ₹400 crores (average monthly ₹30-35 crores)
FY25 target AUM: ₹700-780 crores (growth of about ₹200 crores from FY24)
FY26 target AUM: Expected to cross ₹1,000 crores
Expansion plan: Opening 25-30 new branches in FY25, including Maharashtra, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh
Branch network target: 90 branches in FY25; over 100 branches by FY26
Equity raise planned in FY25: ₹50-100 crores to support growth and new branches
Borrowing mix stable with a debt-to-equity ratio currently 3x, with potential leverage up to 10x as per approvals
Efficient scaling expected to reduce operating expenses growth relative to top-line growth as fixed overheads are absorbed
Monthly disbursement volumes currently equivalent to past annual disbursements, indicating strong ramp-up potential

Margin guidance

Category 3

FY24 Profit Before Tax: ₹26 crores, up from ₹21 crores last year (23.8% growth).
Net Interest Income increased from ₹44 crores to ₹59 crores (34% growth).
EPS rose from ₹13.12 to ₹15.87 in FY24 (21% growth).
Target AUM for FY25 is ₹780 crores, up from ₹601 crores in FY24, indicating continued portfolio growth.
Disbursement target for FY25 is ₹400 crores, up from ₹283 crores in FY24, implying top-line growth.
Expect operating cost growth moderated with scaling: doubling AUM needs only 10%-20% team size increase, leading to better expense ratios.
Plans to raise ₹50-100 crores equity in FY25 to support growth up to ₹1,000-1,500 crores AUM without immediate additional equity.
Loan book mix stable with 70% housing loans; LTV conservatively maintained to manage credit risk.
Overall, management expects steady profit and earnings growth supported by branch expansion, portfolio growth, and operational scaling.

See what SRG Housing management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

In FY24, SRG Housing Finance Ltd raised ₹227.80 crores, with 40% from public sector banks and the rest from financial institutions. Total borrowings stood at ₹491 crores.
The company plans to raise additional equity of ₹50-100 crores in FY25, with board approval already in place and expects to close this within one to two months.
The current debt-to-equity ratio is 3x; the company aims to maintain leverage up to 10x with SBI approval, while RBI allows up to 12x for housing finance companies.
Up to ₹1000-1500 crores of equity funding is considered sufficient for current growth plans, reducing the need for additional equity raising until AUM reaches ₹1500-2000 crores.
Borrowing mix as of now: 49% banks, 39% financial institutions, and 12% National Housing Bank.
No immediate plans for further equity raises until current targets are met.

Order book

Yes

The document does not explicitly mention a current or expected order book or pending orders for SRG Housing Finance Ltd. However, relevant points about their business pipeline and targets include: - FY25 disbursement target: ₹400 crores. - Expected increase in Assets Under Management (AUM) by around ₹200 crores, targeting ₹700 to ₹780 crores. - Plans to open 15 new branches in Q2 and another 10-15 in Q3 across Maharashtra, South India, and other states. - New branches to start operations in Q2 and Q3, with break-even expected within 4-6 months. - Target AUM for FY26 is expected to cross ₹1,000 crores. - Equity raise planned between ₹50-100 crores in FY25 to support growth. - Current branches contributing actively to the order pipeline, with rapid ramp-up in disbursements. No direct mention of order book or pending orders beyond these business expansion and disbursement targets.

See what SRG Housing management said on order book — free account, 30 seconds.

Capex plans

Yes

SRG Housing Finance Ltd is in full expansion mode with plans to open 25 new branches.
New branches are being established primarily in Maharashtra, Karnataka, Tamil Nadu, Telangana, and Andhra Pradesh.
The company has finalized locations and recruited expert teams, including branch managers, for these expansions.
The Mumbai corporate office has been set up as a Pan-India business expert hub to monitor these expansions.
Branch expansion timeline: 15 new branches planned for Q2 FY25 and 10-15 branches in Q3 FY25.
Each new branch typically takes 4-6 months to break even; some existing branches reach breakeven within 6 months.
There is a plan to raise ₹50-100 crore in equity during FY25 to support business growth and expansion.
The company is investing in scaling up its teams and infrastructure but expects operational cost efficiencies as AUM grows.

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