Get App
Last Updated : Jan 28, 2019 11:14 AM IST | Source:

Buy Dewan Housing; target of Rs 300: Motilal Oswal

Motilal Oswal is bullish on Dewan Housing has recommended buy rating on the stock with a target price of Rs 300 in its research report dated January 25, 2019.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Motilal Oswal 's research report on Dewan Housing

Dewan Housing’s (DEWH) PAT declined 37% YoY to INR3.2b (18% below estimate) in 3QFY19. Over the past quarter, the company focused on liquidity management, while growth took a backseat. DEWH repaid INR179b of borrowings over the past three months, including INR100b of CPs. It raised INR163b of borrowings, largely from portfolio sell-downs. Hence, the off-BS book now accounts for 24% of AUM v/s 15% in 2QFY19. Management plans to increase this to 35-40% over the next few years.


However, this is expected to normalize and DEWH is likely to focus on its core strength of being a low-ticket affordable housing financier. Maintain Buy with a TP of INR300 (0.8x FY20E BVPS).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Jan 28, 2019 11:14 am
More From
Follow us on
Available On
PCI DSS Compliant