BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
LIC Housing Finance Ltd.'s developer book stage-III at 24% plus which has remained higher in double digits since nine quarters in a row, stage-II exposure at 20% and overall stress at 54% (including restructured: Rs 47 billion) is baffling.
Moreover, despite 91% salaried customer focus, retail home loan stage-III at 2.6% is equally disappointing.
LIC Housing Finance's Q1 FY22 earnings were further marred by higher sequential interest costs (up 5% QoQ albeit decline in cost of fund), one-off employee costs (Rs 1.2 billion) and elevated provisioning (143 basis points credit costs).
While second wave restricted loan book expansion (0.2% QoQ), we reckon trajectory should only remain tepid for FY22 in light of surmounting asset quality challenges.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
