ICICI Securities's research report on Aptus Value Housing Finance
Aptus’ favourable AUM mix (only AHFC with a separate NBFC) with a high-yielding (~18–20%) non-HL portfolio – constitutes ~40% – alongside steady ~30% AUM growth during the past 8–12 quarters and tight control on asset quality has helped it become the first AHFC (under our coverage) to deliver >20% RoE in Q1FY26. This is an outcome of its niche in the small-ticket secured loan segment and successful execution of business strategies.
Outlook
Aptus aspires to further RoE to ~22%, as it expects the earnings uptrend to sustain in the near-term driven by spread expansion and credit cost remaining within the guided range of 30–40bps. Retain BUY with an unchanged TP of INR 400, valuing Aptus at ~4x Sep’26E BVPS.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
