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HDFC Securities Retail Research
Can Fin Homes Ltd. is a south based well-established player in the affordable housing finance segment. The company has quality loan portfolio with salaried customers and low ticket size loans.
Can Fin Homes has impeccable track record of delivering constant and strong growth numbers while maintaining best-in-class asset quality. The sovereign holding (Canara Bank as promoter) provides access to low cost funding opportunities. With a strong balance sheet position the company has opportunity to increase its market share as well as scale up its presence in existing and newer geographies.
There has been a strong revival in the real estate sector visible from improved sales momentum and new offerings. CanFin Homes remains well placed to capture rising opportunities in the IT hub-Bangalore real estate (~20% of assets under management).
Favourable Indian demographics, low mortgage penetration rate and constant Government support are the key long term positives for the sector.
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