Sumit Bilgaiyan
Indiabulls Housing Finance has reported robust core operating performance. Its AUM grew strongly by 34 percent YoY. Disbursements for the quarter were up 30 percent YoY due to 50 percent+ YoY growth in core home loans which drove 34 percent AUM growth.
Management has cited for strong traction in affordable housing finance. Loan mix and borrowing mix both were steady. Management targets to gradually increase the share of securitisation in its loan book from 10 percent currently to 20 percent over the medium-to-long term.
Indiabulls Housing��s transformation from a diversified lender to a focused mortgage player has yielded returns, with healthy RoE and RoA. The ability to manage spreads will be key to watch out. We have a buy call on Indiabulls Housing Finance.
Disclaimer: The author is Founder of Equity99. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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