The mortgage lender kept aside Rs 1196 crore as expected credit loss provisions against Rs 2162 crore in the year ago period. This is in line with improvement in asset quality with gross non-performing assets ratio declined by 1.78% at the end of September from 3.39% a year back.
The company said it has fully recovered this corporate NPA, constituting about 1.3% of the loan asset as of June 30, 2023. The resolution of this account was achieved on August 19, 2023, by selling the loan to an asset reconstruction company under the Swiss Challenge method under RBI s rules.