Aditya Birla Capital infuses Rs 300 crore in housing finance arm

Financial Services firm Aditya Birla Capital on Wednesday said it has infused Rs 300 crore in its housing finance arm Aditya Birla Housing Finance Ltd (ABHFL) to fund business growth. The company is making the investment in ABHFL to meet its growth, funding requirements and improve its leverage ratio, Aditya Birla Capital said in a regulatory filing. Aditya Birla Capital subscribed equity shares of ABHFL, on rights basis for aggregate cash consideration of Rs 300 crore, it said. Earlier this month Aditya Birla Capital reported a 33 per cent year-on-year (Y-o-Y) growth in consolidated net profit to Rs 812 crore (excluding one-off gains) in the January-March quarter of FY24 on the back of healthy growth in revenues.The consolidated net profit without including one-off items for the reported quarter stood at around Rs 1245 crore. During Q4FY24, Aditya Birla Capital sold about 5 per cent stake in Aditya Birla Sun Life. Sequentially, the net profit is 10.32 per cent up Y-o-Y from Rs 736 crore recorded in the third quarter of FY24. The company's consolidated revenue grew by 32 per cent Y-o-Y to Rs 12,079 crore, up from Rs 9,146 crore in the quarter ended March 31, 2023.