Indiabulls Commercial Credit Limited

Indiabulls Commercial Credit Limited

Indiabulls Commercial Credit Limited was incorporated on July 7, 2006, with the name Indiabulls Commercial Credit Limited. The name of the Company was changed to Indiabulls Infrastructure Credit Limited on January 21, 2009, and further changed to Indiabulls Commercial Credit Limited on March 12,  2015. The Company is registered as a non-deposit accepting NBFC and is a 100% subsidiary of Indiabulls Housing Finance Limited

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NameIssue SizeMaturityCoupon
Indiabulls Commercial Credit LimitedCRISIL AAINE244L07556200.00Cr25 Apr 202810.50 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L072837.30Cr02 Feb 202810.30 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L07507200.00Cr25 Apr 202610.25 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L07523200.00Cr25 Apr 202810.03 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L07457200.00Cr25 Apr 202510.00 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L07572200.00Cr25 Apr 202810.00 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L0741610.96Cr02 Feb 20289.85 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L0731750.00Cr02 Feb 20289.80 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L07499200.00Cr25 Apr 20269.80 %
Indiabulls Commercial Credit LimitedCRISIL AAINE244L072757.20Cr02 Feb 20259.80 %
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History and Promoter

The group, Indiabulls Housing Finance Limited, Incorporated in 2005, is a housing finance company registered with NHB. In March 2013, the parent company, Indiabulls Financial Services Limited, merged with Indiabulls Housing Finance Limited. The company provides mortgage loans, Lease Rental Discounting (LRD) and construction finance with prime focus on the mortgage and home finance business.

They are one of the largest housing finance companies in the country, have serviced to 1.4 million customers across the country, and have collectively disbursed loans of over ₹ 3.08 lakh Crores. Currently they have 5300+ employees operating across a nationwide network of 217 branches and 8000+ channel partners.

Current Management

Particulars 

Name

CEO/Managing Director Mr Rajiv Gandhi
Company Secretary & Chief Compliance Officer Mr Ajit Kumar Singh
Chief Financial OfficerMr Ashish Kumar Jain
Chief Risk OfficerMr Pankaj Kumar Jain

Board Constitution of Indiabulls Commercial Credit Limited

S.no

Name

 

Designation

 

Education

1.

Mr Rajiv Gandhi Managing Director & CEOMBA

2.

Mr Anil Malhan Non-Executive DirectorMBA from IMS, Ghaziabad

3.

Mr Ajit Kumar Mittal Non-Executive Director and ChairmanMasters in Arts (economics) from Kurukshetra University and Masters in Science from the University of Illinois, USA

4.

Ms Preetinder Virk Non-Executive and Independent DirectorB.Com from Kurukshetra University and  Bachelors’ Degree in Law from Panjab University

5.

Mr Dinabandhu Mohapatra

Non-Executive and Independent Director

 

Bachelor degree in law from University Law College, Vani Vihar and Masters in Economics from Vani Vihar, Bhubaneswar

6.

Mr Satish Chand Mathur 

Non-Executive and Independent Director

 

Bachelor and Masters in Arts from Delhi University, St Stephen’s College

Geographical Presence

The company enjoys a pan-India presence across Tier I, Tier II and Tier III cities in India which allows it to interact with and service the customers at the local level.

Products offered by Indiabulls Commercial Credit

The company focuses primarily on long-term secured mortgage-backed loans and offers loans against property (LAP) to the target client base of salaried and self-employed individuals and small and medium-sized enterprises. 
It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. Personal loans as a product line has been discontinued and the vintage book is in run-down mode.

Indiabulls Commercial Credit’s Credit Rating of Past 3 Years

Rating for the past 3 years:

Rating Agency                        InstrumentFinancial Year 2023Financial Year 2022Financial Year 2021

CRISIL

Long Term: Non-Convertible Debentures/ Bonds/ Debt

 

Not Rated‘CRISIL AA/Stable‘CRISIL AA/Stable 

CARE

Long Term: Non-Convertible Debentures/ Bonds/ Debt

 

Not Rated‘CARE AA/Negative‘CARE AA/Negative

ICRA

Long Term: Non-Convertible Debentures/ Bonds/ Debt‘ICRA AA/Stable‘ICRA AA/Stable’ Not Rated

Brickwork

Long Term: Non-Convertible Debentures/ Bonds/ DebtNot Rated‘BWR AA+/Stable’‘BWR AA+/Negative’

Brief Financials for the Last 3 Years: (Standalone)

(In ₹Crore)

S.No.

Particular

Financial Year 2023

Financial Year 2022

Financial Year 2021

1

AUM

9,268.38

10,779.91

12,301.16

2

Net worth

5391.37

5,064.84

4,553.20

3

Total Borrowings

7,202.52

7,563.21

7,823.05

4

Profit after tax

531.90

508.22

139.04

5Gross Non-performing Asset

2.23%

2.44%

4.98%

6Net Non-Performing Asset

1.42%

1.83%

3.25%

7Leverage Ratio

1.34

1.49

1.72

Advantages of Indiabulls Commercial Credit Limited

  1. Established track record, Indiabulls Housing Finance Limited is one of the largest HFC in India.
  2. Experienced Board and management team.
  3. Comfortable asset quality in retail segments.

Disadvantages of Indiabulls Commercial Credit Limited

  1. Decline in AUM over the years as the company moves to curtail its commercial real estate exposure and move towards an asset light business model.
  2. Lower profitability on account of stress in the corporate portfolio and AUM being flat.
  3. The company’s portfolio is susceptible to slippages from wholesale book
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