Sammaan Capital Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
SAMMAANCAP · price
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Sammaan Capital (formerly Indiabulls Housing Finance) reported a consolidated net loss of Rs. 7,144.56 crores for FY26, primarily due to an exceptional loss of Rs. 6,499.17 crores from selling non-core loan exposures worth Rs. 14,953 crore to an Asset Reconstruction Company (ARC). The company also recognized a Management Overlay provision of Rs. 1,850 crores above its model-driven ECL. Revenue from operations declined to Rs. 8,166 crore from Rs. 8,623 crore in FY25. Sammaan Capital is now part of International Holding Company (IHC) Group, Abu Dhabi, which invested Rs. 8,850 crore making it the promoter and controlling shareholder. The company achieved Zero NPA status through write-offs. Multiple credit rating agencies upgraded the company's ratings (Moody's to B1, CRISIL to AA+/Stable, CARE to AA+). No deviation was reported in utilization of issue proceeds. The Board authorized raising up to Rs. 10,000 crore through debentures/bonds.
The large exceptional loss reflects a one-time strategic cleanup of legacy non-core assets as part of the company's transformation under its new IHC promoter. While the reported loss is significant, the rating upgrades and strategic shift toward retail assets signal improving fundamentals and may support investor confidence going forward.