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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Coupon
Rating
Maturity
| Name | Issue Size | Maturity | Coupon |
|---|---|---|---|
| Indiabulls Commercial Credit Limited | 200.00Cr | 25 Apr 2028 | 10.50 % |
| Indiabulls Commercial Credit Limited | 7.30Cr | 02 Feb 2028 | 10.30 % |
| Indiabulls Commercial Credit Limited | 200.00Cr | 25 Apr 2026 | 10.25 % |
| Indiabulls Commercial Credit Limited | 200.00Cr | 25 Apr 2028 | 10.03 % |
| Indiabulls Commercial Credit Limited | 200.00Cr | 25 Apr 2028 | 10.00 % |
| Indiabulls Commercial Credit Limited | 200.00Cr | 25 Apr 2025 | 10.00 % |
| Indiabulls Commercial Credit Limited | 10.96Cr | 02 Feb 2028 | 9.85 % |
| Indiabulls Commercial Credit Limited | 200.00Cr | 25 Apr 2026 | 9.80 % |
| Indiabulls Commercial Credit Limited | 50.00Cr | 02 Feb 2028 | 9.80 % |
| Indiabulls Commercial Credit Limited | 7.20Cr | 02 Feb 2025 | 9.80 % |
Indiabulls Commercial Credit Limited
History and PromoterCurrent ManagementBoard Constitution of Indiabulls Commercial Credit LimitedGeographical PresenceProducts offered by Indiabulls Commercial CreditIndiabulls Commercial Credit’s Credit Rating of Past 3 YearsBrief Financials for the Last 3 Years: (Standalone)Advantages of Indiabulls Commercial Credit LimitedDisadvantages of Indiabulls Commercial Credit LimitedHistory 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 Officer | Mr Ashish Kumar Jain |
| Chief Risk Officer | Mr Pankaj Kumar Jain |
Board Constitution of Indiabulls Commercial Credit Limited
| S.no | Name
| Designation
| Education |
1. | Mr Rajiv Gandhi | Managing Director & CEO | MBA |
2. | Mr Anil Malhan | Non-Executive Director | MBA from IMS, Ghaziabad |
3. | Mr Ajit Kumar Mittal | Non-Executive Director and Chairman | Masters in Arts (economics) from Kurukshetra University and Masters in Science from the University of Illinois, USA |
4. | Ms Preetinder Virk | Non-Executive and Independent Director | B.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 | Instrument | Financial Year 2023 | Financial Year 2022 | Financial 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/ Debt | Not 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 |
| 5 | Gross Non-performing Asset | 2.23% | 2.44% | 4.98% |
| 6 | Net Non-Performing Asset | 1.42% | 1.83% | 3.25% |
| 7 | Leverage Ratio | 1.34 | 1.49 | 1.72 |
Advantages of Indiabulls Commercial Credit Limited
- Established track record, Indiabulls Housing Finance Limited is one of the largest HFC in India.
- Experienced Board and management team.
- Comfortable asset quality in retail segments.
Disadvantages of Indiabulls Commercial Credit Limited
- 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.
- Lower profitability on account of stress in the corporate portfolio and AUM being flat.
- The company’s portfolio is susceptible to slippages from wholesale book