Reliance Home Finance (RHF), a subsidiary of Reliance Capital, financial services arm of Anil Dhirubhai Ambani Group, announced its financial results for the year ended March 31, 2017. The total income for the year ended March 31, 2017, was Rs 11.45 billion (USD 176 million) a YoY increase 40%.

FY17 Profit After Tax nearly doubled from Rs 870 million to Rs 1.73 billion (USD 20 million).

Return on Equity (RoE) improved from 16.5% to Rs 17.7% during the same period.

The company continued its robust growth and ended with Assets Under Management (AUM) at Rs 111.74 billion (USD 1.7 billion) a YoY increase of 87%.

Total disbursements were at Rs 73.33 billion (USD 1.1 billion) up 87% which includes Rs 11.02 billion (USD 170 million) disbursed towards affordable housing with an average ticket size of Rs 11 lakhs.

Gross NPAs (on 90 dpd basis) improved to 0.8 % from 1.1% as on December 2016.

Reliance Home Finance is on track to be independently listed on stock exchanges soon, subject to requisite regulatory and shareholder approvals.

As part of the listing proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

The proposal is expected unlock substantial value for all existing shareholders and will benefit nearly one million shareholders of Reliance Capital that will be getting one free share of Reliance Home Finance.

Reliance Capital will hold a 51 per cent stake in Reliance Home Finance, and the Company will be adequately capitalised to grow the lending book multifold in the next 18 months.

Shares of Reliance Capital gained Rs 11.55, or 1.83%, to trade at Rs 641.50. The total volume of shares traded was 388,295 at the BSE (12.06 p.m., Wednesday).