Buy Housing and Urban Development Corporation; target of Rs 112: ICICI Direct

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ICICI Direct’s research report on Housing and Urban Development Corporation
Hudco,a  Miniratna  company,plays  a key  role  in  various  government schemes  to  develop  Indian  housing & urban  infrastructure.  It  is  the  only institutional lender in housing development for government and may be a key beneficiary of the government’spush towards affordable housing.

Outlook

At |97, the stock is available at ~1.7x FY19E  ABV.Even at 2-2.2x FY19EABV,which is at discount to retail housing peers (2.5-5x FY19E ABV), the stock can be expected to reach |112-123 from 12-15 months perspective.For all recommendations report, click here

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