Hold Poonawalla Fincorp; target of Rs 463: Deven Choksey

hold

Deven Choksey report on Poonawalla Fincorp

In Q3FY26, Poonawalla Fincorp’s Assets Under Management rose to INR 550,170 mn, registering robust growth of 77.6% YoY and 15.3% QoQ, driven by sustained momentum across both secured and unsecured segments. The onbook portfolio mix stood at 56% secured and 44% unsecured.

Outlook

We value the stock at a multiple of 3.1x FY28E ABVPS, arriving at a target price of INR 463. Given the sustained strength in operational performance and execution, along with the recent correction in the stock price, we upgrade our rating to “HOLD” from “REDUCE”.

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Poonawalla Fincorp - 2201026 - deven