Yes, Indiabull housing was in a special situation because of their promoters and other chunky repayments. Mr Ganga managed the situation well but market took down the stock price to 0.3 times of Book Value. I kept building position as I was sure on the long term story .I will not sell this stock in coming 3-5 years as I still feel it will double from these levels in that period. I am not putting fresh money now and watching story unfold with each passing quarter.
Co lending model has significantly derisked the company and they are building strong retail book. I expect them to start showing AUM growth from Q1 2024 and that would take it to its BV around 384 in 2 years time.
My views are personal and should not be considered as any advise as I can be and have been wrong many a times.
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