Interim report
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Year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited) 1 Revenue from operations (i) Interest income (Refer note 3) 1,449.02 1,563.64 2,105.82 3,012.66 3,794.81 7,179.68 (ii) Fees and commission income 41.13 62.24 31.63 103.37 60.38 126.27 (iii) Net gain on fair value changes 291.64 42.05 242.54 333.69 283.39 535.60 (iv) Net gain on derecognition of financial instruments under amortised cost category (Refer note 4) 468.81 732.40 42.50 1,201.21 490.58 781.78 Total revenue from operations 2,250.60 2,400.33 2,422.49 4,650.93 4,629.16 8,623.33 2 Other income 9.92 9.10 2.68 19.02 32.28 59.92 3 Total income (1+2) 2,260.52 2,409.43 2,425.17 4,669.95 4,661.44 8,683.25 4 Expenses Finance costs 1,286.00 1,196.12 1,238.46 2,482.12 2,547.58 4,791.36 Impairment on financial instruments (net of recoveries / written back) 229.03 465.98 4,513.34 695.01 4,772.87 5,068.50 Employee benefits expenses 201.71 184.08 203.73 385.79 356.63 738.45 Depreciation and amortization 21.24 21.03 19.78 42.27 38.66 83.02 Other expenses 97.51 74.11 134.81 171.62 193.51 377.49 Total expenses 1,835.49 1,941.32 6,110.12 3,776.81 7,909.25 11,058.82 5 Profit / (Loss) before tax (3-4) 425.03 468.11 (3,684.95) 893.14 (3,247.81) (2,375.57) 6 Tax expense Current tax expense / (credit) 5.78 5.39 (7.16) 11.17 (9.75) (9.00) Deferred Tax charge / (credit) 110.78 128.42 (917.07) 239.20 (804.10) (559.11) Total tax expense / (credit) 116.56 133.81 (924.23) 250.37 (813.85) (568.11) 7 Profit / (Loss) for the period / year from continuing operations after tax (5-6) 308.47 334.30 (2,760.72) 642.77 (2,433.96) (1,807.46) 8 Loss for the period / year from discontinued operations - - - - - - 9 Tax expense for the period / year from discontinued operations - - - - - - 10 Loss for the period / year from discontinued operations after tax (8- 9) - - - - - - 11 Profit / (Loss) for the period / year attributable to the shareholders of the Company (7+10) 308.47 334.30 (2,760.72) 642.77 (2,433.96) (1,807.46) S. No. Quarter ended Half year ended Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 Statement of Consolidated Unaudited Results for the quarter and half year ended September 30, 2025 (Rupees in Crores)
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 Year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited) 12 Other comprehensive income (1) Other comprehensive income from continuing operations (A) (i) Items that will not be reclassified to statement of profit or loss (a) Remeasurement (loss) / gain on defined benefit plan 2.13 (0.02) 0.45 2.11 0.75 (1.84) (b) (Loss) / Gain on equity instrument designated at FVOCI (93.60) (115.75) 114.32 (209.35) 254.68 158.18 (ii) Income tax impact on (A) above 21.44 23.16 (26.27) 44.60 (58.46) (21.33) (B) (i) Items that will be reclassified to statement of profit or loss (a) Effective portion of cash flow hedges (57.79) (12.08) 150.61 (69.87) 122.03 16.32 (ii) Income tax impact on (B) above 14.54 3.04 (37.90) 17.58 (30.71) (4.11) Total Other comprehensive (loss) / income from continuing operations (113.28) (101.65) 201.21 (214.93) 288.29 147.22 (2) Other comprehensive income from discontinued operations (A) (i) Items that will not be reclassified to statement of profit or loss (a) Remeasurement gain / (loss) on defined benefit plan - - - - - (b) (Loss) / Gain on equity instrument designated at FVOCI - - - - - (ii) Income tax impact on (A) above - - - - - Total other comprehensive income / (loss) from discontinued operations - - - - - - Total other comprehensive (loss) / income (net of tax) (1)+(2) (113.28) (101.65) 201.21 (214.93) 288.29 147.22 13 Total comprehensive income / (loss) (after tax) (11+12) 195.19 232.65 (2,559.51) 427.84 (2,145.67) (1,660.24) 14 Paid-up equity share capital (Face value of INR 2 each) 162.70 162.70 144.79 162.70 144.79 162.70 15 Other equity 21,659.75 16 Earnings per share (EPS) (not annualised) (for continuing operations) -Basic (Amount in ₹)3 . 7 9 4.10 (44.23) 7.90 (40.90) (26.70) -Diluted (Amount in ₹)3 . 7 9 4.10 (44.12) 7.90 (40.76) (26.70) -Face Value (Amount in ₹)2 . 0 0 2.00 2.00 2.00 2.00 2.00 Earnings per share (EPS) (not annualised) (for discontinued operations) -Basic (Amount in ₹) - - - - - - -Diluted (Amount in ₹)- - - - - - -Face Value (Amount in ₹)2 . 0 0 2.00 2.00 2.00 2.00 2.00 S. No. Quarter ended Half year ended Statement of Consolidated Unaudited Results for the quarter and half year ended September 30, 2025 (Rupees in Crores)
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 Year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited) Earnings per share (EPS) (not annualised) (for continuing and discontinued operations) -Basic (Amount in ₹)3 . 7 9 4.10 (44.23) 7.90 (40.90) (26.70) -Diluted (Amount in ₹)3 . 7 9 4.10 (44.12) 7.90 (40.76) (26.70) -Face Value (Amount in ₹)2 . 0 0 2.00 2.00 2.00 2.00 2.00 Notes to the Consolidated Financial Results: 1 2 3 4 5 As at As at 30 September 2025 31 March 2025 (Unaudited) (Audited) ASSETS (1) Financial assets (a) Cash and cash equivalents 2,489.41 3,349.63 (b) Bank balance other than (a) above 1,901.82 1,383.90 (c) Derivative financial instruments 45.81 63.28 (d) Receivables (I) Trade receivables 11.31 13.86 (e) Loans 44,605.14 44,914.85 (f) Investments 14,761.85 14,218.99 (g) Other financial assets 3,520.04 2,798.55 67,335.38 66,743.06 Particulars Sub-total - Financial Assets The consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 – Interim Financial Reporting, notified under Section 133 of the Companies Act, 2013 ("the Act") read with Companies (I ndian Accounting Standards) Rules 2015, as amended from time to time, and othe r accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 as amended from time to time. The consolidated financial results of Sammaan Capital Limited (formerl y known as Indiabulls Housing Finance Lim ited) ('SCL', 'the Company', 'the H olding Company'), its subsidiaries and trust (collectively referred to as 'the Group') for the quarter ended and half year ended September 30, 2025 have been reviewed by the Audit Committee on October 31, 2025 and subsequently approved at the meeting of the Board of Directors held on October 31, 2025. The consolidated financial results have been subjected to a limited review by the Joint Statutory Auditors of the Company. The interest income for the quarter and half year ended September 30, 2025 and year ended March 31, 2025 includes significant overdue interest recovered from customers including written off / NPA cases. The tenure estimate for assignment and co-lending transactions was changed from a market/trend-based approach to an actual basis, is duly approved and includes a gain of Rs. 661.67 Crore for the quarter ended June 30, 2025, recognised under Net Gain on Derecognition of Financial Instruments under amortised cost category. Consolidated Statement of Assets and Liabilities: (Rupees in Crores) S. No. Quarter ended Half year ended Statement of Consolidated Unaudited Results for the quarter and half year ended September 30, 2025 (Rupees in Crores)
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 As at As at 30 September 2025 31 March 2025 (Unaudited) (Audited) (2) Non-financial assets (a) Current tax assets (net) 797.71 659.30 (b) Deferred tax assets (net) 585.16 762.10 (c) Property, plant and equipment 92.99 91.42 (d) Right-of-use assets 235.46 265.44 (e) Other intangible assets 34.92 33.90 (f) Other non-financial assets 887.91 588.34 (g) Assets held for sale 1,167.23 1,037.49 3,801.38 3,437.99 71,136.76 70,181.05 LIABILITIES AND EQUITY LIABILITIES (1) Financial liabilities (a) Derivative financial instruments - 57.61 (b) Payables (I) Trade payables (i) total outstanding dues of micro enterprises and small enterprises - - (ii) total outstanding dues of creditors other than micro enterprises and small enterprises 0.89 1.91 (c) Debt securities 18,912.04 16,585.16 (d) Borrowings (other than debt securities) 22,711.31 22,057.05 (e) Subordinated liabilities 3,915.70 4,083.43 (f) Other financial liabilities 2,758.59 5,099.70 48,298.53 47,884.86 Consolidated Statement of Assets and Liabilities (Continued): (Rupees in Crores) Particulars Sub-total - Non-financial Assets Total Assets Sub-total - Financial Liabilities
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 As at As at 30 September 2025 31 March 2025 (Unaudited) (Audited) (2) Non-financial liabilities (a) Current tax liabilities (net) 1.15 2.17 (b) Provisions 104.97 98.17 (c) Deferred tax liabilities (net) 0.07 - (d) Other non-financial liabilities 359.10 373.40 465.29 473.74 (3) EQUITY (a) Equity share capital 162.70 162.70 (b) Other equity 22,210.24 21,659.75 22,372.94 21,822.45 71,136.76 70,181.05 6 For the Period from April 1, 2025 to September 30, 2025 For the Period from April 1, 2024 to September 30, 2024 Year ended March 31, 2025 (Reviewed) (Reviewed) (Audited) Cash flows from operating activities : Profit / (Loss) before tax from continuing operations 893.14 (3,247.80) (2,375.57) Adjustments to reconcile profit before tax to net cash flows: Employee stock compensation adjustment 102.83 42.03 140.20 Provision for Gratuity, Compensated Absences and Superannuation Expense 1.02 2.19 4.90 Impairment on financial instruments 1,291.92 5,223.53 6,524.24 Lease Interest 0.32 (0.61) (1.22) Interest Income (3,012.66) (3,794.81) (7,179.68) Profit on Lease termination (6.89) (0.58) (2.68) Sub-total - Equity Total Liabilities and Equity Consolidated Cash Flow Statement (Rupees in Crores) Sub-total - Non-financial Liabilities Consolidated Statement of Assets and Liabilities (Continued): (Rupees in Crores) Particulars
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 For the Period from April 1, 2025 to September 30, 2025 For the Period from April 1, 2024 to September 30, 2024 Year ended March 31, 2025 (Reviewed) (Reviewed) (Audited) Interest Expense 2,391.21 2,460.07 4,618.49 Depreciation and amortisation of PPE and ROU assets 42.27 38.66 83.03 Net gain on fair value changes of Security Receipts (99.17) (21.38) (35.55) Loss / (Profit) on sale of Property, plant and equipment (4.88) (1.21) 5.21 Unrealised (profit) / loss on Investments (13.98) 15.82 (172.93) Operating Profit before working capital changes 1,585.13 715.91 1,608.44 Working Capital Changes Trade Receivables, other financial and non-financial Assets (1,377.81) 2,968.20 2,755.75 Loans (1,016.75) (2,540.00) 599.89 Trade Payables, other financial and non-financial Liabilities (2,328.64) (188.50) 765.17 Net Cash (used in) / generated from operations (3,138.07) 955.61 5,729.25 Interest received on loans 2,978.61 3,690.73 7,713.72 Interest paid on borrowings (2,370.87) (2,391.05) (5,011.85) Income taxes refund received / (paid) (net) (150.60) (0.99) 340.51 Net cash (used in) / generated from operating activities (A) (2,680.93) 2,254.30 8,771.63 Cash flows from investing activities : Purchase of property, plant and equipment and other intangible assets (29.71) (19.29) (49.41) Sale of property, plant and equipment 11.34 1.87 4.48 (Increase) / Decrease in Capital Advances (1.88) (3.32) (5.80) Proceeds from / (Investments in) deposit accounts (517.93) 149.95 511.43 Purchase of Investments (net) (768.79) (264.79) (6,249.80) Interest received on Investments 320.45 34.13 211.35 Net cash used in investing activities (B) (986.52) (101.45) (5,577.75) Cash flows from financing activities : Proceeds from issue of equity shares (including securities premium) 19.82 2,480.30 3,777.24 Distribution of equity dividends (0.05) (147.63) (145.49) (Repayment of) / Proceeds from loans (net) 484.64 (3,198.01) (6,405.52) Consolidated Cash Flow Statement (Continued): (Rupees in Crores)
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Consolidated Financial Results for the quarter and half year ended September 30, 2025 For the Period from April 1, 2025 to September 30, 2025 For the Period from April 1, 2024 to September 30, 2024 Year ended March 31, 2025 (Reviewed) (Reviewed) (Audited) Proceeds from Commercial Papers (net) 108.54 - 50.00 Proceeds from / (Repayment of) Secured Redeemable Non-Convertible Debentures (net) 2,180.83 1,866.45 1,963.33 Repayment of Subordinated Debt (net) (173.15) (110.00) (115.00) Payment of Lease liabilities (30.74) (23.46) (50.56) Repayment of Working capital loans (net) 217.34 (1,183.41) (1,447.07) Net cash from / (used in) financing activities (C) 2,807.23 (315.76) (2,373.07) (D) Net Increase / (Decrease) in cash and cash equivalents (A+B+C) (860.22) 1,837.09 820.81 3,349.63 2,813.53 2,528.82 2,489.41 4,650.62 3,349.63 7 8 Figures for the prior year / period have been regrouped and / or reclassified wherever considered necessary. Consolidated Cash Flow Statement (Continued): (Rupees in Crores) (E) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year (D + E) The Group is mainly engaged in the finance and mortgage-backed lending business, and all other activities revolve around this main business of the Gro up. Further, all activities are conducted within India and as such there is no separate reportable segment, as per the Ind AS 108 - "Operating Segments" specified under Section 133 of the Act.
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Year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited) 1 Revenue from operations (i) Interest Income (Refer Note 3) 1,376.27 1,495.90 1,806.37 2,872.17 3,275.72 6,566.00 (ii) Fees and commission Income 28.56 53.26 25.14 81.82 48.46 98.74 (iii) Net gain on fair value changes 299.39 13.86 210.87 313.25 239.96 479.05 (iv) Net gain on derecognition of financial instruments under amortised cost category (Refer Note 4) 358.33 628.85 23.63 987.18 404.40 466.61 Total Revenue from operations 2,062.55 2,191.87 2,066.01 4,254.42 3,968.54 7,610.40 2 Other Income 6.57 8.33 1.69 14.90 32.73 60.74 3 Total Income (1+2) 2,069.12 2,200.20 2,067.70 4,269.32 4,001.27 7,671.14 4 Expenses Finance costs 1,221.45 1,132.09 1,127.46 2,353.54 2,327.73 4,409.60 Impairment on financial instruments (net of recoveries / written back) 197.39 415.28 470.83 612.67 652.29 923.70 Employee benefits expenses 172.76 157.48 188.59 330.24 332.22 662.06 Depreciation and amortization 18.44 18.69 19.14 37.13 37.33 78.70 Other expenses 85.71 65.04 117.39 150.75 168.48 323.30 Total Expenses 1,695.75 1,788.58 1,923.41 3,484.33 3,518.05 6,397.36 5 Profit before tax (3-4) 373.37 411.62 144.29 784.99 483.22 1,273.78 6 Tax Expense Current tax (Credit) / Expense 4.16 - - 4.16 (12.37) (16.36) Deferred Tax Charge 93.76 114.18 33.78 207.94 128.45 347.45 Total Tax Expense 97.92 114.18 33.78 212.10 116.08 331.09 7 Profit for the period / year (5-6) 275.45 297.44 110.51 572.89 367.14 942.69 Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 Statement of Standalone Unaudited Results for the quarter and half year ended September 30, 2025 (Rupees in Crores) S. No. Quarter ended Half year ended
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 Year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited) 8 Other comprehensive income A (i) Items that will not be reclassified to statement of profit or loss (a) Remeasurement (loss) / gain on defined benefit plan 1.95 (0.04) 1.83 1.91 2.54 1.37 (b) (Loss) / Gain on equity instrument designated at FVOCI (99.99) (77.01) 32.22 (177.00) 96.47 28.61 (ii) Income tax impact on A above 22.39 17.63 (7.83) 40.02 (22.71) (5.33) B (i) Items that will be reclassified to statement of profit or loss (a) Effective portion of cash flow hedges (57.79) (12.08) 150.61 (69.87) 122.03 16.32 (ii) Income tax impact on B above 14.54 3.04 (37.90) 17.58 (30.71) (4.11) Total Other comprehensive (loss) / income (net of tax) (118.90) (68.46) 138.93 (187.36) 167.62 36.86 9 Total comprehensive income (after tax) (7+8) 156.55 228.98 249.44 385.53 534.76 979.55 10 Paid-up equity share capital (Face value of INR 2 each) 165.88 165.88 147.31 165.88 147.31 165.88 11 Other equity 22,626.55 12 Earnings per Share (EPS) (not annualised) -Basic (Amount in ₹)3 . 3 2 3.59 1.74 6.91 6.06 13.69 -Diluted (Amount in ₹)3 . 3 2 3.59 1.74 6.91 6.04 13.66 -Face Value (Amount in ₹)2 . 0 0 2.00 2.00 2.00 2.00 2.00 Notes to the Standalone Financial Results: 1 2 3 4 The standalone financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting St andard 34 – Interim Financial Reporting, notified under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules 2015, as amended from time to time, and other acco unting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation s, 2015 as amended from time to time. The standalone financial results of Sammaan Capital Limited (formerly known as Indiabulls Housing Finance Limited) ('SCL', 'the Company') for the q uarter and half year ended September 30, 2025 have been reviewed by the Audit Committee on October 31, 2025 and subsequently approved at the meeting of the Board of Directors held on October 31, 2025. The standalone financial results have been subjected to a limited review by the Joint Statutory Auditors of the Company. The interest income for the quarter and half year ended September 30, 2025 and year ended March 31, 2025 includes significant overdue interest recover ed from customers including written off / NP A cases. The tenure estimate for assignment and co-lending transactions was changed from a mar ket/trend-based approach to an a ctual basis, as approved by the Board, and includes a gain of Rs. 592.35 Crore for the quarter ended June 30, 2025, recognised under Net Gain on Derecognition of Financial Instruments under amortised cost c ategory. S. No. Quarter ended Half year ended Statement of Standalone Unaudited Results for the quarter and half year ended September 30, 2025 (Rupees in Crores)
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 5 As at As at 30 September 2025 31 March 2025 (Unaudited) (Audited) ASSETS (1) Financial Assets (a) Cash and cash equivalents 1,735.65 2,527.12 (b) Bank Balances other than (a) above 1,667.70 1,166.42 (c) Derivative financial instruments 45.81 63.28 (d) Receivables (I) Trade Receivables 4.15 6.98 (e) Loans 42,687.27 42,932.18 (f) Investments 17,297.61 16,752.03 (g) Other Financial assets 3,082.17 2,358.84 66,520.36 65,806.85 (2) Non-financial Assets (a) Current tax assets (Net) 519.76 366.34 (b) Deferred tax assets (Net) 264.68 415.02 (c) Property, Plant and Equipment 85.62 87.29 (d) Right-of-use assets 179.14 207.27 (e) Other Intangible assets 33.88 32.70 (f) Other non-financial assets 845.15 537.65 (g) Assets held for sale 769.76 611.57 2,697.99 2,257.84 69,218.35 68,064.69 Standalone Statement of Assets and Liabilities: (Rupees in Crores) Particulars Sub-total - Financial Assets Sub-total - Non-financial Assets Total Assets
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 As at As at 30 September 2025 31 March 2025 (Unaudited) (Audited) LIABILITIES AND EQUITY LIABILITIES (1) Financial Liabilities (a) Derivative financial instruments - 57.61 (b) Payables (I) Trade payables (i) total outstanding dues of micro enterprises and small enterprises - - (ii) total outstanding dues of creditors other than micro enterprises and small enterprises 0.89 1.45 (c) Debt securities 18,045.51 15,675.58 (d) Borrowings (Other than debt securities) 21,560.09 20,956.97 (e) Subordinated Liabilities 3,583.23 3,751.27 (f) Other financial liabilities 2,433.30 4,543.94 45,623.02 44,986.82 (2) Non-Financial Liabilities (a) Current tax liabilities (Net) - - (b) Provisions 92.60 85.88 (c) Other non-financial liabilities 217.69 199.56 310.29 285.44 (3) EQUITY (a) Equity share capital 165.88 165.88 (b) Other equity 23,119.16 22,626.55 23,285.04 22,792.43 69,218.35 68,064.69 Particulars Sub-total - Financial Liabilities Sub-total - Non-Financial Liabilities Sub-total - Equity Total Liabilities and Equity (Rupees in Crores)Standalone Statement of Assets and Liabilities (Continued):
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 6 For the Period from April 1, 2025 to September 30, 2025 For the Period from April 1, 2024 to September 30, 2024 Year ended March 31, 2025 (Reviewed) (Reviewed) (Audited) Cash flows from operating activities : Profit before tax 784.99 483.22 1,273.78 Adjustments to reconcile profit before tax to net cash flows: Employee Stock Compensation Adjustment 87.27 42.03 127.38 Provision for Gratuity, Compensated Absences and Superannuation Expense 0.74 1.47 2.87 Profit on Lease termination (6.88) (0.46) (2.56) Net gain on fair value changes of Security Receipts (99.17) (21.38) (35.55) Impairment on financial instruments 1,200.77 1,032.11 2,226.11 Interest Income (2,872.17) (3,275.72) (6,566.01) Dividend Income - - - Interest Expense 2,267.64 2,253.09 4,256.52 Depreciation and amortisation 37.13 37.33 78.70 Guarantee Income (0.83) (2.24) (3.07) Lease Interest 0.47 (0.60) (1.14) Loss / (Profit) on sale of property, plant and equipment (4.88) (1.19) 5.14 Unrealised (profit) / loss on Investments (23.76) 5.92 (182.05) Operating Profit before working capital changes 1,371.32 553.58 1,180.12 Working Capital Changes Trade Receivables, other financial and non-financial Assets (1,381.72) 2,823.56 2,664.12 Loans (1,007.05) (4,501.97) 266.62 Trade Payables, other financial and non-financial Liabilities (2,086.16) (306.10) (97.15) Net Cash generated from / (used in) operations (3,103.61) (1,430.93) 4,013.71 Interest received on loans 2,843.94 2,996.21 6,886.44 Interest paid on borrowings (2,023.68) (2,178.57) (4,609.73) Income taxes refund received / (paid) (net) (157.58) 24.17 401.90 Net cash (used in) / generated from operating activities (A) (2,440.93) (589.12) 6,692.32 (Rupees in Crores) Standalone Cash Flow Statement
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 For the Period from April 1, 2025 to September 30, 2025 For the Period from April 1, 2024 to September 30, 2024 Year ended March 31, 2025 (Reviewed) (Reviewed) (Audited) Cash flows from investing activities : Purchase of Property, plant and equipment and other intangible assets (25.46) (19.25) (46.46) Sale of Property, plant and equipment 11.34 1.86 4.42 (Increase) / Decrease in Capital Advances (1.66) (3.32) (4.49) Dividend Income - - - Proceeds from / (Investments in) deposit accounts (501.28) 153.74 514.11 Interest received on Investments 94.40 171.52 297.51 Investments in Subsidiaries / Associate / Other Investments (736.01) 203.28 (6,085.34) Net cash (used in) / generated from investing activities (B) (1,158.67) 507.83 (5,320.25) Cash flows from financing activities : Proceeds from Issue of Equity Shares (Including Securities Premium) 19.82 2,480.30 3,777.24 Distribution of Equity Dividends (0.05) (147.63) (148.01) Loan from Subsidiary Companies 365.00 1,314.25 1,075.75 Proceeds from / (Repayment of) terms loans (Net) 70.59 (3,510.98) (6,132.29) Proceeds from Commercial Papers (Net) 108.54 - 50.00 Proceeds from / (Repayment of) Secured Redeemable Non-Convertible Debentures (Net) 2,225.77 1,946.61 2,065.85 Repayment of Subordinated Debt (173.15) (110.00) (115.00) Payment of Lease liabilities (25.73) (22.56) (46.62) (Repayment of) / Proceeds from Working capital loans (Net) 217.34 (1,183.41) (1,647.07) Net cash generated from / (used in) financing activities (C) 2,808.13 766.58 (1,120.15) (D) Net (Decrease) / Increase in cash and cash equivalents (A+B+C) (791.47) 685.29 251.92 (E) Cash and cash equivalents at the beginning of the year 2,527.12 2,559.92 2,275.20 Cash and cash equivalents at the end of the year (D + E) 1,735.65 3,245.21 2,527.12 Standalone Cash Flow Statement (Continued) (Rupees in Crores)
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 7 Type of borrower Exposure to accounts classified as Standard consequent to implementation of resolution plan – Position as at the end of the previous half-year (A)@ Of (A), aggregate debt that slipped into NPA during the half-year Of (A) amount written off during the half-year Of (A) amount paid by the borrowers during the half-year Exposure to accounts classified as Standard consequent to implementation of resolution plan – Position as at the end of this half- year# Personal Loans 4.82 0.63 - 1.38 2.81 Corporate persons* - - - - - Of which, MSMEs - - - - - Others - - - - - Total 4.82 0.63 - 1.38 2.81 *As defined in Section 3(7) of the Insolvency and Bankruptcy Code, 2016 @ Includes restructuring done in respect of resolution invoked till March 31, 2025 and processed subsequently # includes accounts which were substandard in previous half year but upgraded as on reporting date 8 Disclosures pursuant to RBI Notification - RBI/DOR/2021-22/86 DOR.STR.REC 51/21.04.048/2021-22 dated 24 September 2021 (a) Details of transfer through assignment in respect of loans not in default during the quarter and half year ended September 30, 2025 Entity Assignment Acquisition Assignment Acquisition Count of Loan accounts Assigned* 2107 0 4162 0 Amount of Loan accounts Assigned (Rs. in crore) 708.75 - 1,413.80 - Retention of beneficial economic interest (MRR) (Rs. in crore) 131.37 - 271.61 - Weighted Average Maturity (Residual Maturity in months) 206.36 - 208.53 - Weighted Average Holding Period (in months) 11.27 - 8.20 - Coverage of tangible security coverage 1.00 - 1.00 - Rating-wise distribution of rated loans Unrated - Unrated - Disclosures pursuant to RBI Notification - RB l/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 dated 6 August 2020 and RBl/2021- 22/31/DOR.STR.RE C.11 /21.04.048/2021- 22 dated 5 May 2021 (Rupees in Crores) Quarter ended September 30, 2025 Half year ended September 30, 2025 *Count of loans excludes 205 loan accounts which part of previous assignment transactions and subsequent tranche of the loans has been disbursed duri ng the current quarter.
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 (b) Details of stressed loans transferred during the quarter and half year ended September 30, 2025 Quarter ended September 30, 2025 Half year ended September 30, 2025 Number of accounts 0 118 Aggregate principal outstanding of loans transferred (Rs. in crore) - 1,194.79 Weighted average residual tenor of the loans transferred (in months) - 20.57 Net book value of loans transferred (at the time of transfer) (Rs. in crore) - 1,405.12 Aggregate consideration (Rs. in crore) - 1,012.33 Additional consideration realised in respect of accounts transferred in earlier years - - Excess provisions reversed to the Profit and Loss Account on account of sale - - (c) The Company has not acquired any stressed loan during the quarter and half year ended September 30, 2025. 9 10 11 Subsequent to the current quarter, the Board of Directors of the Company, at its meeting held on October 2, 2025, has inter alia, considered and appro ved the Issue and allotment of equity shares and warrants by way of a preferential issue on a private placement basis to Avenir Investment RSC Ltd (the “Investor”) for cash consideration aggregating to approximately INR 88,49,99,99,794/- (Indian Rupees eight thousand eight hundred and forty nine crore ninety nine lakhs ninety nine thousand seven hundred and ninety four only), in accordance wit h the provisions of the Companies Act, 2013, and the rules made thereunder, Chapt er V of the SEBI ( Issue of Capital and Discl osure Requirements) R egulations, 2018 and other applicable laws, and on th e terms and conditions as set out in the share subscription agreement dated O ctober 2, 2025 with the Investor (“Prefe rential Issue”), Subject to the approval of the shareholders of the Company an d receipt of approvals from applicable statutory authorities, as may be required including but not limited to the Reserve Bank of India, Securities and Exchange Board of India and Competition Commiss ion of India. The shareholders of the Company at their Extraordinary General Meeting held on October 29, 2025 had approved the resolution with an overwhelming majority. *Apart from above, the Company has assigned write-off loans to NBFC for purchase consideration of Rs. 500.00 Crore during the quarter ended September 30, 2025 and to ARCs for purchase consideration of Rs. 427.59 Crore during the quarter ended June 30, 2025, amounting to a total of Rs. 927.59 Crore during the half year ended September 30, 2025. There are no material deviations, if any, in the use of proceeds of issue of non convertible debt securities from the objects stated in the offer document. Redeemable Non-Convertible Debentures are secured against mortgage of immovable property, hypothecation on the financial and non-financial asse ts (including investments) of the Company, both present and future; and on present and future loan assets of the Company, including all monies receivable for the principal amount and interest thereo n (collectively referred to as “Hypothecated Properties”, which term shall exclude the Excluded Assets (as defined below)), on a first pari-passu basis with all other secured lenders to the Issuer holding pari-passu charge over the security. Excluded Assets shall mean such portion of High Quality Liquid Assets (as defined in Liquidity Risk Management Framework for Non-Banking Financial C ompanies and Core Investment Companies, 2019, as amended from time to time (the “RBI LRM Framework”)) which shall remain unencumbered in accordance with the RBI LRM Framework. For the avoidance of d oubt, Excluded Assets will at no point of time form part of the Hypothecated Properties.
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 12 13 14 15 16 17 18 19 During the current quarter, the Company had raised U.S.$300,000,000 by allotment of Senior Secured Social Bonds due 2028 (the “Bonds”) in accordance with Regulation S / Rule 144A of the U.S. Securities Act, 1933 and applicable Indian laws. Subsequent to the current quarter, the Company had raised U.S.$450,000,000 by allotment of Senior Secured Social Bonds due 2030 (the “Bonds”) in accordance with Regulation S / Rule 144A of the U.S. Securities Act, 1933 and applicable Indian laws. Subsequent to the current quarter, the Nomination and Remuneration Committee of the Company, at its meeting held on October 2, 2025, granted:- (1) Indiabulls Housing Finance Limited Employee Stock Benefit Scheme - 2023” (the “Scheme”), 2,00,00,000 (Two Crore) Stock Options, out of the lapse d Stock Options, granted earlier, representing an equal number of equity shares of face value of Rs. 2/- each in the Company, at an exercise price of Rs. 170/- The Stock Options so granted, shall vest withi n two years beginning from October 3, 2026 the first vesting date. (2) Indiabulls Housing Finance Limited Employees Stock Option Scheme - 2013”, 10,53,406 (Ten Lacs Fifty Three Thousand Four Hundred and Six) Stock Options, out of the lapsed Stock Options, granted earlier, representing an equal number of equity shares of face value of Rs. 2/- each in the Company, at an exercise price of Rs . 170/- The Stock Options so granted, shall vest on October 3, 2026. The Company (SCL) and its six wholly owned Subsidiary companies, namely Sammaan Collection Agency Limited (formerly known as Indiabulls Collection Agency Limited), Sammaan Sales Limited (formerly known as Ibulls Sales Limited), Sammaan Insurance Advisors Limited (formerly known as Indiabulls Insurance Advisors Limited), Sammaan I nvestmart Services Limited (formerly known as Nilgiri Investmart Services Limited), Indiabulls Capital Services Limited and Sammaan Advisory Services Limited (formerly known as Indiabulls Advisory S ervices Limited) (collectively, the “Transferor Companies”) have filed a first motion application dated September 16, 2024 (the “Application”) with National Companies Law Tribunal, New Delhi (the “NCLT, Delhi”), for merger of the Transferor Companies with the Company. The NCLT, Delhi has passed an order allowing the Application. The NCLT, Delhi vide its order dated January 27, 2025, has dis pensed with the requirements of convening Equity Shareholders, Secured and Unsecured Creditors meetings of Subsidiaries (Transferor Companies). However, it has directed SCL to convene the meetings of its Equity Shareholders, Secured and Unsecured Creditors, through Video Conference, under the chairmanship of NCLT appointed Chairman / Alternate Chairman. Accordingly, the Company h as convened these meetings on June 10, 2025 and Equity Shareholders, Secured and Unsecured Creditors of the Company had approved the Scheme with requisite majority. The Company has on June 21, 2 025 had filed second motion application with Hon'ble NCLT. Pursuant to the order dated July 9, 2025, our Company has carried out a publication of the notice of the second motion to the specified auth orities, by all prescribed modes, and also in two widely circulated newspapers, in compliance with Rule 7 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2 016. The matter is currently pending before the NCLT, Delhi. The Company is mainly engaged in the finance and mortgage-backed lending business, and all other activities revolve around this main business of the C ompany. Further, all activities are conducted within India and as such there is no separate reportable segment, as per the Ind AS 108 - "Operating Segments" specified under Section 133 of the Act. During the current quarter, the Securities Issuanc e and Investment Committee of the B oard of Directors of th e Company vide resolu tion dated August 01 , 2025 approved and allo tted 17,36,110 NCDs of face value of Rs.1,000 each, aggregating to Rs.173.61 Crores on public issue basis. During the current quarter, the Securities Issuanc e and Investment Committee of the B oard of Directors of th e Company vide resolu tion dated August 04 , 2025, August 14, 2025 and September 29, 2025 approved and allotted 27,500 Secured, Rated, Listed, Taxable, Redeemable, Non-Convertible Debentures of face value Rs. 1 lakh e ach, aggregating to Rs. 275 Crores, on private placement basis. Subsequent to the current quarter, the Securities Issuance and Investment Committee o f the Board of Directo rs of the Company vide resolution dated Oc tober 16, 2025 approved and allotted 40,000 Secured, Rated, Listed, Taxable, Redeemable, Non-Convertible Debentures of face value Rs. 1 lakh each, aggregating to Rs. 400 C rores, on private placement basis.
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Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 20 21 Figures for the prior year / period have been regrouped and / or reclassified wherever considered necessary. Registered Office: A - 34, 2nd & 3rd Floor, Lajpat Nagar-II, New Delhi-110024 For and on behalf of t he Board of Directors Place : Mumbai Gagan Banga Date : October 31, 2025 Managing Director & CEO The Reserve Bank of India, under Scale Based Regulations (SBR) has categorised the Company in Upper Layer (NBFC-UL) vide its circular dated September 30, 2022 and vide press release reference 2024-2025/1939 dated January 16, 2025.
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A. B. Format for disclosing outstanding default on loans and debt securities S. No. Particulars in ₹ crore 1 Loans / revolving facilities like cash cred it from banks / financial institutions A Total amount outstanding as on date 16,875.63 B Of the total amount outstanding, amount of default as on date - 2 Unlisted debt securities i.e. NCDs and NCRPS A Total amount outstanding as on date - B Of the total amount outstanding, amount of default as on date - 3 Total financial indebtedness of the listed entity including short-term and long-term debt 43,188.84 Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (as standalone entity) (CIN: L65922DL2005PLC136029) Statement on deviation or variation for proceeds of Public issue, Rights issue, Preferential issue, Qualified Institutions Placement etc. – Copy attached C. Format for disclosure of Relat ed Party transactions (applicable only for hal f-yearly filings i.e., 2nd and 4th quarter) – Copy attached D. Statement on impact of audit qualificat ions (for Audit Report with m odified opinion) s ubmitted along-with Annual Audited financial results (Standalone and Consolidated separately) (applicable only for Annual Filing i.e., 4th Quarter) – Not applicable
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Particulars As on September 30, 2025 1 Debt Equity Ratio ((Debt Securities + Borrowings (Other than Debt Securities) + Subordinated liabilities) / Own Funds) 1.85 2 Debt Service Coverage Ratio Not Applicable, being an NBFC 3 Interest Service Coverage Ratio Not Applicable, being an NBFC 4 Outstanding Redeemable Preference Shares (quantity and value) N.A. 5 Capital Redemption Reserve (Rs. in Crores) 0.36 6 Debenture Redemption Reserve (Rs. in Crores) 146.39 7 Equity (Equity share capital + Other equity) (Rs. in Crores) 23,285.04 8 Net Profit after Tax (Rs. in Crores) 572.89 9 Earnings per Share (EPS) - Basic (Amount in Rs.) - not annualised 6.91 - Diluted (Amount in Rs.) - not annualised 6.91 10 Current Ratio Not Applicable, being an NBFC 11 Long term debt to working capital Not Applicable, being an NBFC 12 Bad debts to Account receivable ratio Not Applicable, being an NBFC 13 Current liability ratio Not Applicable, being an NBFC 14 Total debts to total assets (Debt Securities + Borrowings (Other than Debt Securities) + Subordinated liabilities) / Total Assets 0.62 15 Debtors turnover Not Applicable, being an NBFC 16 Inventory turnover Not Applicable, being an NBFC 17 Operating Margin Not Applicable, being an NBFC 18 Net profit Margin (Profit after tax / Total Income) As on Quarter ended 30 September 2025 13.31% As on Six months ended 30 September 2025 13.42% 19 Other Ratios (not subjected to review) (A) % of Gross Non Performing Assets (Gross NPA / Loan Book) 1.91% (B) % of Net Non Performing Assets (Net NPA / Loan Book) 1.11% (C) Liquidity Coverage Ratio (%) for Q2 FY 26 297% (D) Capital to risk-weighted assets ratio (Calculated as per RBI guidelines) 27.44% Sammaan Capital Limited (Formerly Indiabulls Housing Finance Limited) (CIN: L65922DL2005PLC136029) Standalone Financial Results for the quarter and half year ended September 30, 2025 Additional Information in Compliance with the provisions of Regulation 52(4) of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015