IIFL Finance shares trade higher on the back of a strong set of Q3 results. Nirmal Jain, Chairman of the non-banking financial company spoke to CNBC-TV18 to discuss earnings fineprint, home, and gold loans.

Jain said, “There has not been any significant restructuring last quarter. The gold loan product is under pressure in terms of yields because of competition. Gold loan is 31 percent of our portfolio which is a very short duration product.”

He added, “The share of home loan has been increasing and the home loan has the lesser yield and therefore the weighted average yield looks little lower.”

On housing loan, he added, “Housing loan, we focus on the affordable home loan. So our average ticket size is just about Rs 16-17 lakh and we are a significantly large player mobilising Pradhan Mantri Awas Yojana (PMAY) subsidy, mostly therefore, we are in smaller cities and the suburbs of large cities.”

For full management commentary, watch the video.

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First Published:Jan 28, 2022 2:13 PM IST