Indiabulls Housing Finance Ltd posted strong margins in the third quarter as asset quality was stable. Loan growth however tapered off. Gagan Banga, vice chairman and managing director of Indiabulls Housing Finance said the company expects "loan book growth between 20 percent and 25 percent" next year, with a profit after tax estimated to grow by 17 percent to 19 percent.

“In the aftermath of the IL&FS led liquidity crisis, the company had to focus more on the ALM etc and I think the best thing that has happened to the company after about 40 quarters of steady growth is that within three months, we were able to successfully migrate and very significantly improve the ALM," he added.

In terms of recovery of developer loans, Banga said that, “We may have taken some small developers to National Company Law Tribunal (NCLT) in terms of a significant exposure going bad etc, we have seen a fair amount of recovery happening."

Speaking about the total exposure of the amount of loans given to the NCLT cases, he further mentioned that, “The cases that we are trying to pursue in NCLT with the developers - there was some talk in the middle and I had checked around October that we have filed some new cases in NCLT and what we have realised was that those were not fresh cases, those were dates, which were appearing for old cases.”