Can Fin Homes net profit up by 28 per cent in 2005-06

Bangalore, May 14: Can Find Homes, a subsidiary of Canara Bank has annoucned a 28 per cent increase in its net profit at Rs 26.95 crore for 2005-06 up from Rs 21.12 crore the previous year. Announcing the Results for the year Canfin Homes Managing Director K Venkatramaiah said that the bank had sanctioned loans worth Rs 828.88 crore last year as against Rs 531.42 crore the previous year. Similarly disbursement was up by 43 per cent at Rs 653.965 crore from Rs 456.61 crore.

For the current fiscal the company had fixed a target of Rs 1050 crore for sanctions and Rs 800 crore for disbursement.

The cumulative sanctions grew from Rs 3656.67 crore to Rs 4481.5t4 crore and disbursements went up from Rs 3127.04 crore to Rs 3780.99 crore.

The assets base of the company grew by 29 per cent to touch a level of Rs 173.45 crore, the Company said in a release here.

UNI