SRG Housing Finance denies Rs 400 crore siphoning allegations
SRGHFL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SRG Housing Finance held a call to address an Economic Times article alleging Rs 400 crore siphoned to promoter-linked entities. Management fully denied claims, stating NHB placed the account under Red Flag during a routine audit. Key highlights: CAR 39.21%, PAT up 25% YoY, Rs 1,100 crore loan book, 15,000 active accounts, no lender default, promoters raised stake by 1% and willing to infuse more capital. Lenders comfortable, no recalls. NHB audit expected to close in 1-2 months.
Red Flag status and media allegations create major reputation risk. Outcome of NHB audit in 1-2 months is the key catalyst for stock recovery.