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Last Updated : Oct 05, 2015 06:36 PM IST | Source: Moneycontrol.com

Buy Indiabulls Housing Finance; target of Rs 840: Firstcall

Firstcall Research is bullish on Indiabulls Housing Finance and has recommended buy rating on the stock with a target price of Rs 840 in its research report dated September 23, 2015.

 
 
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  Firstcall Research's report on Indiabulls Housing Finance


Indiabulls Housing Finance Ltd (IBHFL) is India’s 2nd largest Housing Finance Company in the private sector with a balance sheet size of Rs. 57,231 crore. It has a network of 220 branches, and a sales team of about 2,000 dedicated and trained employees. It provides quick, convenient and competitively priced home loans to both salaried and self-employed customers. For the fiscal year ending March 2015, the company reported PAT of Rs.1,901.24 crore. IBHFL is AAA rated company.

At the current market price of Rs. 730.85, the stock P/E ratio is at 12.29 x FY16E and 10.75 x FY17E respectively. Earning per share (EPS) of the company for the earnings for FY16E and FY17E is seen at Rs.59.47 and Rs.67.98 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 16% over 2014 to 2017E respectively. On the basis of EV/EBITDA, the stock trades at 8.32 x for FY16E and 7.75 x for FY17E. Price to Book Value of the stock is expected to be at 2.97 x and 2.33 x for FY16E and FY17E respectively. We recommend ‘BUY’ in this particular scrip with a target price of Rs.840.00 for Medium to Long term investment.

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First Published on Sep 22, 2015 06:23 pm
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