Sammaan Capital, formerly known as Indiabulls Housing Finance, has undergone a major transformation over the past few years following the IL&FS crisis in FY19.
The company’s assets under management (AUM) shrank sharply, falling from ₹1.2 lakh crore in FY18 to ₹62,300 crore in FY25.
Its leverage position improved considerably, with the debt-to-equity ratio reducing from 8.2 times in FY18 to 1.9 times in FY25.
Management commentary
In its first quarter (Q1FY26) earnings call, Sammaan Capital guided that credit costs are likely to remain around 1% on an annualised basis.
Leverage, which currently stands at about 2 times, is expected to stay in the range of 2 times to 2.5 times.
Meanwhile, growth AUM accounted for 64% of the total loan book, compared with 60% in the previous quarter (Q4FY25).
At present, shares of Sammaan Capital are trading 6.55% higher at ₹125.70. However, despite today’s rally, the stock is still down 18% on a year-to-date basis.
