NBFCs Q4 Results Preview - Loan Growth Strong; Rising CoF An Impediment To NIM Expansion: Motilal Oswal

Motilal Oswal Report

We expect ~6% YoY growth in assets under management for our coverage housing finance companies universe, including both affordable and other HFCs.

Vehicle financers are projected to report ~26% YoY AUM growth. Gold lenders (including non-gold products) are likely to record ~19% YoY growth.

Non-banking financial company-MFIs are forecasted to post ~29% YoY growth, while diversified lenders are expected to deliver ~28% YoY growth in AUM.

For our coverage universe, we estimate a loan growth of ~20% YoY/~5% QoQ in Q4 FY24. While the strong loan growth was broad-based, select micro-financers and small-ticket personal loan lenders continued to calibrate their growth.

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