Sammaan Capital, formerly Indiabulls Housing Finance, reported a significant loss of ₹8,101 crore for the March quarter, marking a dramatic reversal from the ₹324 crore profit recorded in the same period last year. According to reports from The Economic Times, the non-bank lender's revenue from operations declined 16.4% to ₹1,762 crore from ₹2,107 crore in the year-ago quarter, while total income fell 36.2% to ₹1,361 crore from ₹2,132 crore in the previous year.
The company's asset quality showed significant deterioration with impairments on financial assets jumping nearly tenfold to ₹2,958 crore from ₹288.86 crore a year ago. As reported by The Economic Times, the company also classified ₹6,499 crore as exceptional items, which account for the bulk of the reported loss. This surge in asset impairments reflects the challenging operating environment and increased credit risks faced by the lender, with impairments reaching multi-year highs.
The transaction with Abu Dhabi-based IHC Group has been completed with share allotment finished on March 31, 2026. According to The Economic Times, IHC currently holds a 28.5% equity stake in Sammaan Capital and will increase its ownership to 43.5% upon conversion of warrants. The partnership has provided substantial financial support, with Sammaan receiving ₹5,652 crore on issuance of equity shares and a 25% upfront payment on warrants, with the balance ₹3,198 crore to be received over 18 months on warrant conversion.
