October 21, 2016 / 12:30 IST
Centrum has come out with its second quarter (July-September) earnings estimates for the Financials sector. The brokerage house expects
GIC Housing to report net profit at Rs 35 crore, up 8.1 percent quarter-on-quarter.
Net Interest Income is expected to increase by 6.8 percent Q-o-Q (up 17.5 percent Y-o-Y) to Rs 72.4 crore, according to Centrum.
Centrum's report on GIC Housing
We continue to prefer GICHF owing to continued improvement in its loan growth, stable margins and superior returns profile. Our recent survey points to efforts in curtailing loan run-down.
We expect GICHF to witness 18% YoY growth in NII led by 19.5% YoY growth in loans. Borrowing mix continues to move towards non-bank avenues and will aid in further improvement in margins.
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