Dewan Housing Finance (DHFL) Research Report By Edelweiss

Tagged: Dewan Housing, Edelweiss

This topic has 0 replies, 1 voice, and was last updated 9 years, 11 months ago by Vidhi Khanna.

Viewing 1 post (of 1 total)

Author

Posts
January 18, 2015 at 11:58 am #1594

Vidhi Khanna
Keymaster

Dewan Housing Finance (DHFL) is a dominant player in niche markets (Tier II & III cities) with strong foothold in the limited competition low and middle income (LMI) segment. The company has built a lucrative model (bolstered by strategic inorganic expansion) that caters to a gamut of potential customer base, portending humungous growth opportunities. We estimate it to sustain loan CAGR of 20% plus, which along with improving NIMs (aided by recent rating upgrade), will lead to an impressive 23% PAT CAGR and improve RoE to over 19% in FY17E. Initiate coverage with ‘BUY’ and TP of INR642 (assigning 1.75x FY16E P/Adj. B), implying >50% upside.

dewan_housing_report_edelweiss
Author

Posts

Viewing 1 post (of 1 total)

You must be logged in to reply to this topic.