Motilal Oswal's research report on Dewan Housing
Dewan Housing Finance’s (DEWH) 4QFY17 PAT grew 31% YoY to INR2.48b (excluding the gain on the sale of 50% stake in the life insurance subsidiary). Strong AUM growth, a YoY reduction in C/I ratio and an improvement in spreads were the highlights of the quarter.
Outlook
We believe its gradual transformation to a core mortgage player with strong growth and healthy return ratios would result in further re-rating. We upgrade FY18/19 EPS estimates by 5%/6% to factor in better margins and stronger growth. Buy with a TP of INR 559 (1.8x FY19E BVPS).
For all recommendations, 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.
Read More
