Key Corp board clears MOA change for housing finance, Q1 profit jumps; borrowing limit raised to Rs 500cr
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Key Corp Ltd board on July 15, 2026 approved altering its MOA to expand into housing finance, diversified lending, and insurance distribution. Two new Independent Directors appointed, including ex-GIC Re CMD and ex-HSBC executive. Borrowing limit raised to Rs 500 crore. Q1 FY27 results show profit of Rs 924.40 lakh versus Rs 787.21 lakh in Q1 FY26, with revenue rising to Rs 945.84 lakh from Rs 808.87 lakh. Gross NPA rose to 9.09 percent from 7.86 percent. Postal ballot sought for member approvals.
Strategic pivot to housing finance and lending. Higher borrowing capacity and stronger board. Q1 profit up about 17 percent YoY but NPAs rising. Watch execution.