Home First Finance Company India Limited has informed the Exchange regarding Resignation of Mr Maninder Singh Juneja as Non- Executive Director of the company w.e.f. May 02, 2025.
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Home First Finance has informed the exchanges that Mr Maninder Singh Juneja, a Non-Executive Nominee Director representing private equity investor True North, has resigned from the board effective May 2, 2025, citing other priorities after about 8 years on the board. The same board meeting approved audited FY25 results with profit after tax of Rs 3,820.68 million, up 25% from Rs 3,057.17 million in FY24, and total income rising to Rs 15,392.03 million from Rs 11,565.45 million. The board also recommended a higher dividend of Rs 3.70 per share (185% of face value) versus Rs 3.70 per share last year, subject to shareholder approval. Additionally, the board cleared a Rs 700 crore non-convertible debenture private placement and noted the earlier April 2025 QIP that raised about Rs 1,250 crore by issuing shares at Rs 970 each.
The resignation of a long-serving True North nominee is a routine portfolio-level exit and is unlikely to disrupt operations, since Mr Juneja held a non-executive role. Investors should focus on the strong 25% profit growth, higher dividend, and recent Rs 1,250 crore QIP raise which strengthen the capital base for the affordable housing lender.