Mortgage-focused Sammaan Capital Ltd reported a consolidated net loss of ₹8,101.4 crore for the fourth quarter, representing a significant deterioration from the ₹324.04 crore profit recorded in the corresponding period last year, according to reports from CNBC TV18. The company's total income declined sharply by 36% year-on-year to ₹1,361 crore from ₹2,088 crore in the previous year. The substantial loss was primarily attributed to exceptional charges and asset quality provisions, with the company also swinging into loss sequentially from a net profit of ₹314 crore reported in Q3 FY26.
The company reported impairment on financial instruments of ₹2,958.1 crore and exceptional items of ₹6,499.1 crore during the quarter, as reported by CNBC TV18. These charges significantly impacted the quarterly results and contributed to the widened net loss compared to the previous year's performance. The exceptional items were linked to identified non-core exposures and sale of assets to an asset reconstruction company, with the company changing business model for identified non-core loan assets and investments worth ₹14,953 crore as part of its strategic transformation toward retail-focused lending.
Sammaan Capital reported a unified opening assets under management (AUM) of ₹53,160 crore with zero gross and net NPA, according to CNBC TV18. The company stated that provision buffers capture terminal credit costs, corresponding to an annualised credit cost of around 1.9% on total disbursals of approximately ₹3.60 lakh crore. The opening AUM is cashflow tested and has serviced borrowings of around ₹1.35 lakh crore as of September 2018, with net servicing of about ₹1.3 lakh crore since then. The company also recognised an additional management overlay provision of ₹1,850 crore under the Ind AS 109 expected credit loss framework due to macroeconomic and sector-specific risks.
The company reported that approximately ₹1.05 lakh crore ($11 billion) has been sold down across 24 bank and NBFI relationships, with co-lending and DA playbook fully operational, as reported by CNBC TV18. During the year, Sammaan Capital completed a strategic investment transaction with Abu Dhabi-based IHC through Avenir Investment RSC Ltd, involving a committed investment of ₹8,850 crore. The company also received rating upgrades from CRISIL and CARE during and after the quarter. Basic and diluted EPS for the quarter stood at negative ₹99.10 per share, while for FY26, consolidated total income declined to ₹8,190 crore from ₹8,683 crore in FY25.
