Can Fin Homes Q3 Results Review - Steady Quarter; Outlook Continue To Remain Healthy: Systematix

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Report.Can Fin Homes Ltd.'s Q3 FY24 operational performance was broadly in-line with our estimates. Higher provisions during the quarter were offset by lower opex. Net interest income/operating profit came in at Rs 3.3 billion/Rs 2.8 billion versus estimate of Rs 3.2 billion / Rs 2.7 billion. NII reported a healthy growth of 31% YoY / 4% QoQ led by marginal expansion in net interest margin (5 basis points QoQ) though the assets under management growth was moderate at 13.1% YoY (2.1% QoQ).The decline in new loan approvals (-3% QoQ / -21% YoY) and sluggish disbursement growth (-23% YoY / -7% QoQ) was primarily on account of centralization of process.However, despite higher-than-expected provisioning, profit after tax was in-line at Rs 2 billion. Gross non-performing assets/ net non-performing assets ratio deteriorated to 0.91%/0.49% from 0.76%/0.43% in Q2 due to slippages from restructured book.We estimate a 14% compound annual growth rate in Can Fin Homes AUM to deliver 19% CAGR in earnings over FY23‐25E. We expect the return of assets / return of equity to remain largely stable at 2.1%/18.5% over FY24/25. Key risks: Inflation pressure might impact the demand for home loans..Click on the attachment to read the full report:.IT Slowdown: 2024 To Be A Repeat Of 2023, Coforge CEO Says.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Can Fin Homes Q3 Results Review - Steady Quarter; Outlook Continue To Remain Healthy: Systematix

Disbursements share in south has declined to 72% from 75%. Salaried segmentshare to be maintained at around 70%.

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