GIC Housing Finance Limited — Board Meeting, 12-08-2025: Outcome of Board Meeting

GIC Housing Finance has approved the financial results for the quarter ended June 30, 2025. Consolidated net profit came in at Rs 7.42 Cr, a sharp drop from Rs 38.99 Cr in the same quarter last year. Total income was Rs 265.44 Cr. The decline in profit was primarily due to a significant increase in bad loan provisioning, which surged to Rs 77.97 Cr. This was impacted by a revised method for calculating Expected Credit Loss (ECL), leading to an additional Rs 54.16 Cr provision. Also, repossessed properties worth Rs 168.89 Cr were reclassified, incurring a one-time Rs 27.31 Cr hit to provisions.