Date: August 08, 2024

To, To,
BSE Limited, National Stock Exchange of India Limited,
Phiroze Jeejeebhoy Towers, Dalal Exchange Plaza, C-1, Block G, Bandra
Street, Kurla Complex, Bandra (E),
Mumbai- 400001 Mumbai – 400 051
Scrip Code: 544044 NSE Symbol: INDIASHLTR

Sub: Investor Presentation under Regulation 30 of SEBI (Listing Obligations and

Disclosure Requirements) Regulations 2015.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, please find enclosed herewith a copy of Investor
Presentation of the Company on the Unaudited Financial Statements for the quarter
ended June 30, 2024.

The above information shall also be made available on the Company's website at
https://www.indiashelter.in/investor-relations

Request you to take the above information on records.

Thanking you.
Yours faithfully,

For India Shelter Finance Corporation Limited

MUKTI Digitally signed by

MUKTI CHAPLOT

CHAPLOT Date: 2024.08.08

12:11:59 +05'30'

Mukti Chaplot
Company Secretary and Chief Compliance Officer
Mem. No. 38326

India Shelter Finance Corporation Limited

Registered office – 6th Floor, Plot No 15, Institutional Area, Sector 44, Gurgaon, Haryana-122002
CIN: L65922HR1998PLC042782, Phone No +91-124-4131800
E-mail: customer.care@indiashelter.in, Website: www.indiashelter.in
Investor
Presentation
Q1FY25

India Shelter Finance Corporation Limited

Safe Harbor

This presentation and the accompanying slides (“Presentation”), which have been prepared by India Shelter Finance Corporation Limited
(the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to
purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment
whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed
information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the
Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy,
completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not
contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this
Presentation is expressly excluded.

Forward looking statements concerning the Company's future business prospects and business profitability are subject to a number of risks
and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties
relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage
growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled
professionals, time and cost over runs on contracts, government policies and actions regulations, interest and other fiscal costs generally
prevailing in the economy. The Company does not undertake to make any announcement in case any of the forward-looking statements
become materially incorrect in future or update any forward-looking statements made from time to time by or on behalf of the Company.

2
Q1FY25 Snapshot

AUM Employees Spread Gross Stage 3 ROA

Rs. Crore

6,509 37% YoY 3,515 6.1% 1.1% 5.6%

Disbursement States Secured Book Net Stage 3 ROE

Rs. Crore

715 23% YoY

15 100% 0.9% 14.3%
PAT Branches Average Ticket Size2 PCR3 CRAR | Leverage

Rs. Crore Rs. Lakhs

84 77% YoY 236 +13 Branches
QoQ 10 25% 66.7% | 2.6
Net Worth In-House Sourcing LTV1 Credit Cost Credit Rating4

Rs. Crore

2,387 98% 52% 0.4% AA-

Investors and Analysts can download the excel factsheet from our website
3

1 – On AUM | 2 – On disbursement | 3 - PCR – Stage 3 | 4 – CARE Rating (AA- Stable), IND RA (AA- Stable), ICRA A+ (Positive)
Key Highlights & Executive Summary – Q1FY25

• Delivered AUM growth of 37% YoY to Rs. 6,509 Cr

Business
• Portfolio LTV maintained at 52%, ATS continues to be at Rs. 10 Lacs
Metrics &
AUM ROA Expansion
• The company continues to deepen its presence by adding 13 new branches in Q1FY25
• Geographic presence stood at 236 locations as of 30th June’24

Rs. Crore 7% QoQ • Continues to maintain strong focus on leveraging tech to improve operations,

6,509 37% YoY 5.6% Operations

•
onboarding and customer experience
Continues to focus on digital operations, company now processes 96% digital collections,
99% e-signing of applications

Liquidity &
Disbursement ROE • In Q1, cost of funds was maintained at 8.8%
Cost of
• Comfortable liquidity position, liquidity buffer stood at Rs. 1,193 Crs as of 30th June 2024
Borrowing

Rs. Crore 4% QoQ

715 23% YoY 14.3% Operating
Efficiencies
•
•
Net Income grew by 54% YoY to Rs. 184 Crs in Q1FY25 as against Rs. 120 Crs in Q1FY24
In Q1, Opex to AUM improved to 4.4% from 4.8% in Q1FY24
• In Q1, Cost to Income further improved to 37.8% from 45.8% in Q1FY24

Gross Stage 3 • Gross Stage 3 and Net Stage 3 at 1.1% and 0.9% as of 30th June’24 as against 1.0% and
PAT
Asset 0.8% as of 30th June’23
Quality • 30+ DPD at 3.5% as of 30th June’24
Rs. Crore • Credit Cost for the quarter stable at 0.4%
7% QoQ
84 77% YoY 1.1% • Profit after tax grew by 77% YoY to Rs. 84 Crs in Q1FY25 as against Rs. 47 Crs in Q1FY24
Profitability
• In Q1, the company delivered annualized RoA of 5.6% as against 4.2% in Q1FY24

4
 About the Company

India Shelter Finance Corporation Limited

5
Who we are

What we do Deep Vintage Focus on

India Shelter provides affordable home Founded in 2010, India Shelter has a 14-year
loans and loan against property in Tier 2
and 3 geographies in India.
vintage that results in deep understanding of
the segment
Underserved
Customer Base
Focus Segment Corporate Governance AUM Split by Borrower Type (Q1FY25)
Provides home loans to customers from Strong focus on Corporate Governance, led by
low-and middle-income segments who diverse Board with extensive experience in
are building or buying their first homes. various facets of Banking and Finance
70% 90% 76%
Granular Portfolio with Pan Experienced Team First Time Tier II & LIG +
Mortgage Tier III MIG
India presence Company is being run by experienced Borrowers
India Shelter has strong distribution moat professional management team backed by
with its Pan-India network in 15 states via marquee investors
236 branches and maintains a granular
portfolio with ATS of ~ Rs. 10 Lacs 98% 72%
Tech enabled Underwriting & Risk Women Self-
Tech backed and tested underwriting and risk Applicant Employed

Rs. 6,509 Crs 86,483 management which has remained robust

through business cycles
AUM No of Customers

6
Growth Journey

AUM (Rs. Crores)

39%
CAGR AUM crosses
Rs. 6,000 Crs
(FY19-FY24) CARE:
IND RA: Upgraded
Upgraded to AA- (Stable)
to AA- (Stable)
AUM crosses
Listed on Rs. 6,500 crs
BSE, NSE
6,509
PAT crosses
Rs. 100 crs
CARE: 6,084
Upgraded to
A+ (Positive)
ICRA: Acquires
Upgraded majority
to A- Presence in
AUM crosses 15 States
stake 4,359
(Positive)
Commenced Rs. 1,000 crs
operations Opened 1st Crossed 100
Presence in
from Expanded
7 States branch ICRA:
Presence in
Branches 3,073
Rajasthan to 5 states in South Upgraded
to A 12 states
Investment
Investment
(Stable)
2,199
First ICRA credit from AUM crosses Presence in
Investment from AUM crosses AUM crosses 8 states 1,520
rating of Rs. 200 crs Rs. 500 crs
by Sequoia BB+ (stable)
Rs. 100 crs 1,178
801
399 548
21 58 117 228
4

FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Q1FY25

7
Key Success Factors

Curated In-house Processes Enabling

Robust Asset Quality across Cycles

4
5
Extensive, Diversified, Phygital
3
Professional Management Guided by
Distribution having Pan India presence Board Comprising of Industry Veterans

Technology Driven Company

with Scalable Model 2 6 Strong Focus on Governance

14-yrs Vintage having Deep

Understanding of Customer Segment 1 7 Diversified, Robust Liabilities
Franchisee
and Micro-market

8
Experienced Board with Industry Veterans

Chairman Independent Directors

Parveen Gupta Rachna Dikshit Savita Mahajan Thomson Thomas

Ex-MD SBI Ex-Regional Ex-CIO HDFC Life
Ex-Dean ISB
Director RBI

Nominee Directors Management

Sudhin Choksey
Ex-MD Gruh Finance
35+ yrs of BFSI experience
Nominee Director
Sumir Chadha Shailesh Mehta Rupinder Singh
Co-Founder WestBridge Ex-Chairman Providian MD & CEO
Professionally Managed Company
Experienced Management Team with Strong Alignment of Interest with 9% ESOP Pool

Rupinder Singh Ashish Gupta Sharad Pareek Nilay

MD & CEO CFO CRO CHRO
20+ yrs of experience 18+ yrs of experience 22+ yrs of experience
22+ yrs of experience
Ex-Cholamandalam Ex-Satin Micro Finance Ex-Poonawalla Fincorp
Ex-Standard Chartered

Aman Saini Nitin Goel Ravinder Dhillon

National Business Head Head Credit Policy Head - Collections
20+ yrs of experience 18+ yrs of experience 20+ yrs of experience
Ex-Cholamandalam Ex-Cholamandalam Ex-Cholamandalam

Rohit Gaur Abhinav Arya Mukti Chaplot

Head Product & Strategy CIO CS & Compliance
20+ yrs of experience 17+ yrs of experience 10+ yrs of experience
Ex-Cholamandalam Ex-Shubham Housing India Shelter

10
Shareholding Pattern

Key Institutional Investors

Investor % Holding
3.5% 1.6% 1.5% WestBridge WestBridge Capital^ 46.8%
Nexus Venture Partners^ 21.3%
Nexus
5.2% Quant Mutual Fund* 2.7%
DII Axis Mutual Fund* 2.6%
Madison^ 2.6%
20.1% FII
46.8%
Nippon Mutual Fund* 2.4%

Publics & others SBI Life 1.9%

Franklin Templeton Mutual Fund* 1.6%
21.3% Employees Goldman Sachs India Equity# 1.1%

Mr. Anil Mehta Mirae Mutual Fund* 1.1%

UTI Mutual Fund* 1.0%
ICICI Prudential Life 0.9%
Massachusetts Institute of Technology^ 0.8%
280+ employees are covered under ESOP program, comprising:
~21% of the employees excluding frontline staff Edelweiss Mutual Fund* 0.6%
Steinberg 0.6%
Think India Opportunities Fund 0.5%

^Holding through various schemes/funds | *Holdings through multiple mutual fund schemes | #including managed funds | as of 28th June’24 11
 Business Update

India Shelter Finance Corporation Limited

12
Industry Dynamics

Housing Credit
Income Profile Avg. Ticket Size Value of Units LTV Aggregate Loan
Segment Shortage Penetration
(Rs. Lakh) (Rs. mn) (Rs. tn) (%) Demand (Rs. tn)
(mn units) (%)
EWS Up to 3 45 0.75 34 40% 40% 5
LIG 3 to 6 50 2.0 100 50% 80% 40
MIG & Above 6 and above 5 8.0 40 65% 85% 22
Total 100 174 68

• Potential demand for housing by 2022 was pegged at 100m units as per the Reserve Bank of India’s Report1
• LIG and EWS account for 95% of the shortage while MIG and above account for the remaining 5%
• Total demand to fulfil the entire shortage in value terms is estimated ~Rs. 174 tn
• Considering avg. credit penetration across segments, aggregate loan demand is estimated ~Rs. 68 tn
• Aggregate loan demand from EWS & LIG segment is estimated at Rs. 45 tn
• Loans outstanding from Affordable Housing is pegged at Rs. 11.5 tn as of FY23, which is expected to grow by 57% and reach Rs. 18 tn by
FY26
• Mortgage to GDP ratio improved to 12.3% in FY23 from 6.7% in FY10, but it is still lower than that in several other emerging and
developed economies

1Reserve
13
Bank of India’s Report of the Committee on the Development of Housing Finance Securitisation Market in Sep’19
Robust Growth With Profitability

Disbursement (Rs. Crores) AUM (Rs. Crores) 37% PAT (Rs. Crores) 77%
23% YoY YoY
YoY
7% 7%
-4% QoQ QoQ
QoQ
6,509 84
747 78
715 6,084

582
4,759
47

8
63 52
Q1FY24 Q4FY24 Q1FY25
Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

Co-lending 14
Consistent Asset Quality

Stage 3/ GNPA (%) DPD above 90 DPD upto 90 Stage 3/ NNPA (%)

1.0% 1.2% 1.1%

1.0% 1.0%
0.03% 0.05% 0.01%
0.02% 0.02% 0.9% 0.9%
0.8%
0.7% 0.7%

1.0% 1.0% 1.2% 1.0% 1.1%

Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25
Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25

30+ DPD (%) Collection Efficiency (%)

3.5% 3.5% 101%

3.2%
2.9% 99% 99% 99%
2.4% 98%

Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25

15
 Maintaining Spreads

Yield COF Spread

14.7% 14.9% 14.9%

8.7% 8.8% 8.8%

• Cost of Funds (COF) maintained at 8.8% as of June’24
• Marginal Cost of Funds for Q1FY25 is at 8.8%

6.0% 6.1% 6.1%

June'23 Mar'24 June'24

16
Yield on AUM | Yield and COF is position as at the end of relevant period and is excluding amortized upfront income/ expense as per IND AS
Extensive Pan-India Distribution Network

Geographically Diversified with Contiguous Scope for Operating Leverage

Expansion (Vintage-wise AUM/ branch, June-24)

No of AUM AUM /Branch AUM /Branch

Branch Vintage
Branches (Rs. Crs) Q1FY25 FY21
Up to 1 year 41 222 5 1
1 to 3 years 72 1,248 17 14
More than 3 years 123 5,039 41 30
Total 236 6,509 28 19

Low AUM concentration

(State - wise Portfolio Break-up, AUM %)
June’24 Mar’18
Particulars Branches
(%) (%)
Rajasthan 67 31% 41%
Maharashtra 32 17% 20%
Madhya Pradesh 28 12% 25%
Uttar Pradesh 20 7% 2%
Karnataka 15 7% -
> 3 years Vintage – 15 states Gujarat 18 6% 8%
Tamil Nadu 18 5% -
Others (8 states) 38 14% 4%
Total 236 100% 100%
17
Customer & Portfolio Demographics

>20 to 25L >25L ≤5L

Salaried
Loan against Tier - 1
7% 5% 9%
Property 28% 10%
41%
June 2024

Tier - 3
>15 to 20L
50%
AUM Profile City
13% ATS1
Mix Home Mix Rs. 10
Loans
Tier
Lacs
59% Tier - 2
>5 to 10L
Self Employed 40%
40% >10 to 15L
72% 26%

>20 to 25L >25L ≤5L

Loan Salaried
7% 5% 11%
against 30% Tier - 1
Property 10%
June 2023

43% Tier - 3
48% >15 to 20L
AUM
Home
Profile City 12% ATS1
Mix Mix Tier Rs. 10
Loans
Lacs >5 to 10L
57% 40%
Self Employed Tier - 2
>10 to 15L
70% 42%
25%

18

1 - ATS on disbursement
 Tech, Credit & Risk

India Shelter Finance Corporation Limited

19
Robust Underwriting and Risk Management
In-house BRE for analyzing 100+ fields for customer and collateral evaluation

Customer Assessment Collateral Evaluation Controls in Place

✓ Background and Business Collateral Valuation Risk Management

Vintage Process
✓ Neighbor & Reference Check ✓ Identification and
Occupancy ✓ In-house Business
✓ Credit Bureau
✓ Lifestyle Indicators
✓ Geo-tagging / Radial
Variances
Rule Engine

✓ Centralized Risk
52% 47%
LTV1 FOIR
✓ Local bylaws Containment Unit

✓ Marketability ✓ Centralized Credit

Cash Flow Assessment and Hindsight
Control Unit
Legal Evaluation
✓ Business Discussion at Customer ✓ Maker Checker at
Premise ✓ Title check – Legal Opinion Critical Processes
✓ Household visits for triangulation ✓ Encumbrance – Title ✓ Every applicant/ co- 98% ~Rs.10
of income, expenses and savings Search Lakhs
applicant must visit SORP
✓ Bank Statement Analysis branch ATS2
✓ Docs. authenticity –
✓ Discussion on End-Use Legal Vetting

20
1 – On AUM | 2– On disbursement
End to End Digital Process for Home Loans
Minimizing our carbon footprint through digitization

IndiaShelter IndiaShelter IndiaShelter IndiaShelter IndiaShelter

iSales iCredit iTech iCollect iServe

Customer Credit Collateral Collections Customer

Acquisition Underwriting Evaluation Management Service

21
 Technology Driven Company with Scalable Operating Model

Strong Tech Architecture across Processes Multiple Digital Assets

Digital Loan Approval Cloud Based Platform and Paperless Approach

Extensive database with 100+ data points on customer and collateral

Customer 360 view Data Capture profiles to enable robust analytics

Mobility Solutions Third Party Integrations Geo-tagging of all properties during technical evaluation

In-house Business Rule Engine enables real-time compliance with

credit policy and prompt loan approvals
Artificial Intelligence Tech Enabled Process

Salesforce integrated with downstream / upstream applications

including mobile applications

22
Digital Adoption Progress

% of Customers registered % of Service Requests

on the app raised on the app
72%
65%

56%
65% 99%
E-Nach Mandates

23%

1%
Q1FY24 Q4FY24 Q1FY25
Q1FY24 Q4FY24 Q1FY25

% of Digital Collections % of Account Aggregator (AA)

penetration

96%
33%
39%
99%
E-Signing
93%
92%
7%

Q1FY24 Q4FY24 Q1FY25 Q1FY24 Q4FY24 Q1FY25

23
Separate Hierarchy Of Key Functions
Sales, Underwriting & Collections Independent of each function

Customer Ops & Cust. Collection &

Credit Legal Technical
Acquisition Service Recovery

Loan Officers

Credit Manager Branch Service Tech. Manager Collection Manager

Branch Manager

Branch Manager

Area Sales Area Credit Manager Area Ops & Cust. Legal Area Technical Area Collection/
Area Manager Service Manager Manager Manager Recovery
Manager

Reg. Sales Regional Credit Regional Ops & Cust. Reg. Legal Reg. Technical Reg. Collection/
Region Manager Manager Service Manager Manager Manager Recovery
Manager

Zone
Zonal VP

Field Underwriting Head Head - Operations Legal Head Technical Head National Collection/
Head Office
Recovery Manager

Hindsight & Fraud Control Unit

Business Head Head - Collection & Recovery

Head - Credit & Policy 24

Excludes other functions & HO employees

 Financials

India Shelter Finance Corporation Limited

25
Strong Liability Franchise

Diversified Funding Profile and Strong Lending Relationships

Lender Base 7 years
Borrowing Mix (Q1FY25), %
Avg. Tenure of Borrowings
32
Lender Relationships

PTC
NCD Key Lenders
ECB 1%
5% 1%

FI & Others
MF, NBFC,
NHB
18% Term
Loans by

Private
Banks
Banks & FI
53%
DA
22%

Public
Banks
26
DA – Direct Assignment, NHB – National Housing Bank, ECB – External Commercial Borrowing, PTC – Pass Through Certificates, NCD – Non-Convertible Debentures
Strong Balance Sheet

Consistent Rating Upgrades Strong ALM Surplus Outflow Inflow

Cumulative ALM Profile, June’24
2024 AA- (Stable)* Rs. Crs
278
<3 months 336
614
2023 A+ (Positive)
487
<6 months 340
827
2022 A+ (Stable)
901
<1 Year 340
1,241
2019 A (Stable)
2,317
<3 Year 210
2,527
2018 A- (Positive) 3,326
<5 Year 282
3,607
2016 A- (Stable) 3,584
<7 Year 961
4,545

2015 BBB+ (Stable) 3,742

<10 Year 2,013
5,755

2013 BBB- (Stable) 3,768

>10 Years 2,337
6,105

2012 BB+ (Stable)

27

CARE Rating (AA- Stable), IND RA (AA- Stable), ICRA A+ (Positive)

Comfortable Liquidity Position

Particulars (Rs. Cr.) As of June’24

Total Available
Cash & Cash Equivalents1 480
Liquidity of
Un-availed Sanctions from Banks/FI 713 INR 1,193 Cr
Total Liquidity Position 1,193

Particulars (Rs. Cr.) Q2FY25 Q3FY25 Q4FY25 Q1FY26

Opening Liquidity 1,193 1,254 1,291 1,324

Add: Principal Collections & Surplus from Operations 327 316 305 299

Less: Debt Repayments 266 278 273 262

Closing Liquidity 1,254 1,291 1,324 1,360

₹ 1,360 Cr of Surplus Funds2 available for business

28
1Excluding lien marked balance of Rs. 69 Crs | 2Without including any incremental sanctions
Profit & Loss Statement - Quarterly

Particulars (Rs. Cr.) Q1FY25 Q1FY24 YoY Q4FY24 QoQ

Interest Income on loans 200.6 141.7 42% 190.3 5%

Net Gain on Direct Assignments 24.9 18.8 33% 17.0 47%

Other Income 35.1 27.5 28% 37.2 -6%

Total Income 260.7 188.0 39% 244.4 7%

Finance Cost 76.3 67.9 12% 74.2 3%

Net Total Income 184.5 120.1 54% 170.2 8%

Operating Expenses 69.7 55.0 27% 64.9 8%

Pre-Provisioning Operating Profit 114.7 65.1 76% 105.3 9%

Credit Cost 6.6 4.1 62% 5.6 18%

Profit before Tax 108.1 61.0 77% 99.7 8%

Tax Expense 24.5 13.8 77% 21.7 13%

Profit after Tax 83.5 47.1 77% 77.9 7%

Basic EPS 7.8 5.4 7.3

Diluted EPS 7.5 5.3 7.0

29
Profit & Loss Statement – Annual

Particulars (Rs. Cr.) FY24 FY23 FY22 FY21 FY20

Interest Income on loans 660.6 476.7 353.2 257.7 202.6

Net Gain on Direct Assignments 79.1 43.9 49.7 29.2 -

Other Income 121.7 85.7 56.9 35.9 27.3

Total Income 861.4 606.2 459.8 322.8 229.9
Finance Cost 287.0 208.7 147.4 104.6 74.1
Net Total Income 574.4 397.6 312.4 218.2 155.8
Operating Expenses 236.0 181.5 133.5 85.4 80.3
Pre-Provisioning Operating Profit 338.4 216.0 178.9 132.8 75.6
Credit Cost 19.2 14.1 12.0 19.9 11.7
Profit before Tax 319.2 202.0 166.9 113.0 63.8
Tax Expense 71.6 46.6 38.5 25.6 16.9
Profit after Tax 247.6 155.3 128.4 87.4 46.9
Basic EPS 26.3 17.7 14.8 10.2 11.0
Diluted EPS 25.2 17.4 14.6 9.9 10.8

30
Balance Sheet

Particulars (Rs. Cr.) June-24 June-23 Mar-24

Sources of Funds

Share Capital 53.6 43.8 53.5

Reserves & Surplus 2,333.3 1,243.4 2,245.1
Borrowings 3,690.3 3,319.6 3,415.1
Other liabilities & provisions 89.4 88.1 80.4
Total 6,166.5 4,694.9 5,794.2

Application of Funds
Loan Assets 5,405.3 3,932.5 5,062.4
Investments 353.6 337.0 157.8
Fixed Assets 28.6 22.8 29.8
Cash & Bank Balance 207.7 275.7 377.7
Other Assets 171.3 126.9 166.5
Total 6,166.5 4,694.9 5,794.2

31
ECL Provisions Summary

Particulars June-24 Mar-24 June-23

Gross Stage 3 63.1 50.1 40.9

% Portfolio in Stage 3 1.1% 1.0% 1.0%
ECL Provision Stage 3 15.8 12.5 10.9
Net Stage 3 47.3 37.7 30.0
% Portfolio in Stage 3 0.7% 0.6% 0.6%
Provision Coverage Ratio (PCR) – Stage 3 25.1% 25.0% 26.7%

Gross Stage 2 148.8 114.0 103.6

% Portfolio in Stage 2 2.7% 2.2% 2.6%
ECL Provision Stage 2 5.9 4.5 6.6
Net Stage 2 142.9 109.4 97.0
Provision Coverage Ratio (PCR) – Stage 2 4.0% 4.0% 6.4%

Gross Stage 1 5,329.0 5,022.7 3,890.4

% Portfolio in Stage 1 96.2% 96.8% 96.4%
ECL Provision Stage 1 28.9 27.1 22.1
Net Stage 1 5,300.1 4,995.6 3,868.3
Provision Coverage Ratio (PCR) – Stage 1 0.5% 0.5% 0.6%

Gross Stage 1, 2 & 3 5,541.0 5,186.7 4,034.9

ECL Provision 50.6 44.1 39.7
Total ECL Provision (%) 0.9% 0.9% 1.0%
32
ROE Tree & Key Ratios

Particulars (Rs. Crs) Q1FY25 Q4FY24 Q1FY24 FY24 FY23

Total Revenue to Average Total Assets 17.4% 16.9% 16.7% 17.1% 16.1%
Finance cost to Average Total Assets 5.1% 5.1% 6.0% 5.7% 5.6%
Net Income to Average Total Assets 12.3% 11.7% 10.7% 11.4% 10.6%
Operating Expenses to Average Total Assets 4.7% 4.5% 4.9% 4.7% 4.8%
Credit cost to Average Total Assets 0.4% 0.4% 0.4% 0.4% 0.4%
PBT to Average Total Assets 7.2% 6.9% 5.4% 6.3% 5.4%
ROA (PAT to Average Total Assets) 5.6% 5.4% 4.2% 4.9% 4.1%
Leverage (Average Total Assets to Average Net Worth) 2.6 2.6 3.6 2.9 3.2
ROE (PAT to Average Net Worth) 14.3% 13.8% 14.9% 14.0% 13.4%

Particulars Q1FY25 Q4FY24 Q1FY24 FY24 FY23

Leverage 2.6 2.5 3.6 2.5 3.5

Cost to Income 37.8% 38.1% 45.8% 41.1% 45.7%

Operating expenses / AUM 4.4% 4.4% 4.8% 4.5% 4.9%
CRAR (%) 66.7% 70.9% 47.2% 70.9% 52.7%
Book Value Per Share 223.3 215.3 148.5 215.3 142.7
33
Financial Snapshot – 10 years

Particulars FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24

Operational
Branches 31 33 47 61 64 81 86 115 130 183 223
States 4 5 7 8 8 12 12 15 15 15 15
Active Live Accounts 5,304 8,552 12,823 15,730 20,117 24,354 27,602 33,607 43,328 58,552 80,791
Employees 255 254 420 523 740 1,126 1,219 1,576 2,200 2,709 3,223
Disbursements 77 146 225 236 404 566 551 895 1,295 1,964 2,646
AUM 117 228 399 548 801 1,178 1,520 2,199 3,073 4,359 6,084
Financial
Net Total Income 14 19 45 71 91 122 156 218 312 398 574
Operating Expenses 12 16 33 37 57 77 80 85 133 182 236
Credit Cost 0 1 1 2 3 3 12 20 12 14 19
Profit before Tax 1 2 11 32 32 41 64 113 167 202 319
Profit after Tax 1 3 8 21 22 30 47 87 128 155 248
Networth 62 65 263 351 568 800 848 937 1,076 1,241 2,299
Ratios
Cost to Income 88.6% 84.6% 72.9% 52.4% 62.3% 63.5% 51.5% 39.1% 42.7% 45.7% 41.1%
GNPA 0.2% 0.2% 0.3% 0.7% 1.3% 1.4% 1.3% 1.9% 2.1% 1.1% 1.0%
RoA 1.3% 1.7% 2.6% 4.0% 2.9% 2.7% 3.0% 4.1% 4.5% 4.1% 4.9%
Leverage1 1.7 2.9 2.0 1.7 1.7 1.7 1.9 2.4 2.8 3.2 2.9
RoE 2.3% 5.0% 5.2% 6.7% 4.9% 4.4% 5.7% 9.8% 12.8% 13.4% 14.0%
CRAR 83.2% 44.0% 122.2% 109.0% 100.6% 91.2% 81.1% 71.5% 55.9% 52.7% 70.9%

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1 Leverage - Average Total Assets to Average Net Worth
Key Growth Strategies

Grow and Diversify Diversify Borrowings Leverage Technology Enhance Brand

Distribution and Optimize for Scalability and Equity and Foster
Network Borrowing Costs Productivity Sustainability

Deepening branch Enhance credit rating Enhance lead sourcing Increase concentration
penetration in adjacent in Tier II & Tier III cities
markets Prioritize long-term Enhance customer
borrowings fulfilment Enhance brand visibility
Improve branch
productivity Explore co-lending Internal data models to Focus on positive work
opportunities identify default risk culture

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 ESG

India Shelter Finance Corporation Limited

36
Focus on Social Capital

Social SDGs achieved Customers SDGs achieved

India Shelter Nakshatra: Serving the underserved & unserved

Our Educational Initiative segment leading to financial inclusion:

Akshaya Patra Foundation (to ensure a nutritious meal

for the underprivileged students)
72% 90%
Samarthanam Trust for the Disabled (To enhance EWS & LIG Tier II & III
Government schools in for underprivileged students)

India Shelter Nav Jeevan: 72% 98%

Our Healthcare Initiative Self Employed Women Borrowers

Impact Guru Foundation (to uplift the underprivileged

with better healthcare facilities and livelihood
opportunities)

Bansi Vidya Memorial Trust (to treat leukemia affected

children) our healthcare initiative

India Shelter Nayi Umeed:

Our Women Empowerment Initiative

Mahesh Foundation (for the construction of the new skill

centre for girls & women)

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Focus on Human Capital

Employees
Employee Development & Well Being We prioritize the development & well-being of our employees,
ensuring a healthy and balanced work environment. Here are some initiatives we have implemented:
• Prarambh - A Leadership Journey
• India Shelter Child Scholarship Program
• Health check-up
• Weekly Yoga classes
• Fitness Community Employee training & development:
3,400+ manhours of training provided in Q1FY25
Employee Reward & Recognition: We foster a work culture that inspires and motivates our
employees to deliver their best each day. We firmly believe in recognizing and celebrating excellence, Employment & labor practice: Multiple policies
creating an environment that promotes healthy competition and rewards outstanding achievements. to create a safe & conducive work environment
To achieve this, we have established a robust Reward & Recognition programme that highlights the
exceptional contributions of our employees. Here are some key elements of our programme: Employee ownership: 280+ employees are
• Long Service Award covered under ESOP programs –comprising of
• ICON Award 21% of employee base excluding frontline staff.
• Performance Award
• ISFC Got Talent Award Employment generated in tier II, III & IV cities
• On the Spot Award-Employee Performance Appreciation Program
Gender diversity:
Diverse employee base consisting of
SDGs 20% women representation at Board
achieved 21% women at HO

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Strong Governance Structure

Strong corporate governance framework in place for effective risk management

Board of Directors
Board Level Committees

Risk Nomination &

Top-tier Corporate Management
Committee
Audit
Committee
IT Strategy
Committee
Remuneration
Committee
CSR
committee

Governance:
Management Level Committees Management Team
Independent Directors led Board
Committees
Customer
Highly experienced Board and ALCO Grievance IT Steering Disciplinary POSH
Committee Redressal Committee Committee Committee
Management Team Committee

Company’s risk management is

driven by Board and its Market Risk Liquidity Risk Credit Risk ICAAP
subcommittees

Interest Rate Risk Forex Risk

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Awards & Accolades
Awards won in FY24

BEST CUSTOMER
EXPERIENCE JAN GRIHA CERTIFICATION
INDIA'S BEST SOLUTION OF THE YEAR TOP 50 INDIA'S BEST GREAT PLACE TO WORK
WORKPLACES IN NBFC BY ON
AT THE BW WORKPLACES IN BFSI 2024 CERTIFIED
GPTW INDIA FINTECH AWARDS 2024
GREEN HOME INITIATIVES

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Glossary

Terms Explanation

AUM represents the aggregate of future principal outstanding and overdue principal outstanding, if any, for all loan assets under management which includes (i)
loan assets held by us as of the last day of the relevant period/year (ii) loan assets which have been transferred by us by way of securitization or direct assignments
AUM
and are outstanding as of the last day of the relevant period/year, and excludes the partner’s share of loan assets originated and assigned under co-lending
arrangements with the partner banks as of the last day of the relevant period/year.
Disbursements represents the aggregate of all loan amounts extended to our customers including partner’s share of loan assets originated and assigned under
Disbursements
co-lending arrangement in the relevant period/year
Average Total Asset Average Total Asset represents simple average of total assets outstanding at the beginning and end of the relevant period/year
Average Networth Average Networth represents simple average of Networth at the beginning and end of the relevant period/year
Stage 3 Assets (Gross) represents gross carrying amount pertaining to loans which are non-performing assets (NPA) as per the Income Recognition, Asset
Gross Stage 3
Classification and Provisioning Norms issued and modified by RBI
Net Stage 3 Stage 3 Assets (Net) represents Stage 3 Assets (Gross) less impairment loss allowance for Stage 3 Assets as of the last day of the relevant period/year.
Net Stage 3 (%) Net Stage 3 (%) represents Net Stage 3 assets divided by aggregate of Stage 1, 2, 3 assets net off total ECL provision.
Operating Expenses to Average AUM represents operating expenses for the relevant period/year upon the simple average of AUM as of the last day of the relevant
Opex/AUM
period/year and AUM as of the last day of the previous year, represented as a percentage
Cost to Income (%) Cost to Income represents Operating Expenses divided by Net Total Income
Operating Expenses represents the aggregate of employee benefits expense, depreciation and amortization expense, interest expense on
Operating Expenses
lease liability for the relevant period/year
Finance Cost Finance Cost represents the aggregate finance cost for relevant period/year excluding interest expense on lease liability
DPD 30+ represents AUM outstanding for more than 30 days after the due date for the relevant year or period as a percentage of AUM as of the last day of the
DPD 30+
relevant year
Collection Efficiency Total amount of EMIs received in the month (including arrears of previous months)/ Total amount of EMIs due for the month
Leverage Leverage represents the ratio of Average Total Assets to Average Net Worth for the relevant period

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Glossary

Abbreviation Expansion Abbreviation Expansion

ALM Asset liability management HL Home loan

ATS Average Ticket Size IPO Initial Public Offer
AUM Assets under management LAP Loan against property
BPS Basis Points LCR Liquidity Coverage Ratio
BRE Business rule engine LIG Low-income group
CAGR Compound annual growth rate LTV Loan to Value
COF Cost of funds MF Mutual funds
Capital adequacy ratio or Capital to risk MIG Middle-income group
CRAR assets ratio MSME Micro , Small & Medium Enterprises
CX Customer experience NNPA Net non-performing assets
DPD Days Past Due NPA Non-performing assets
ECB External commercial borrowing Opex Operating Expenses
ECL Expected credit loss PAT Profit after tax
EMI Equated monthly instalments
PBT Profit before tax
Electronic National Automated Clearing
e-NACH House PCR Provision coverage ratio
EPS Earnings Per Share ROA Return on assets
EWS Economically weaker section ROE Return on equity
FII Foreign institutional investor SME Small & Medium Enterprise
FOIR Fixed Obligation to Income Ratio SORP Self -Occupied Residential Property
FPC Fair Practice Code TAT Turnaround Time
FPI Foreign Portfolio Investor UX User Experience
GNPA Gross non-performing assets

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 Thank You

For further information, please contact:

Rahul Rajagopalan
Head – Investor Relations
investorrelations@indiashelter.in