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Bajaj Housing Finance posts quarterly profit rise on strong loan growth
India’s Bajaj Housing Finance reported a 17.7% rise in second-quarter profit on Friday, helped by strong loan growth. The country’s biggest non-bank home loan financier by market value posted a profit of 7.57 billion rupees ($79.72 million) for the three months ended September 30 from 6.43 billion in the year-ago quarter. Despite strong home loan demand driving growth, housing financiers have been navigating intensifying competition in the mortgage market, with banks using their lower funding costs to offer attractive home loan rates and pressure lending spreads. Assets under management (AUM) ...
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