BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
We hosted the management of Repco Home Finance Ltd. for our Financial Services Day. Key takeaways from the meeting are:
The management reiterated its guidance of achieving 20% disbursements growth in FY24 (annual run-rate of ~Rs 36 billion), translating into 12% assets under management growth (AUM of ~Rs 140 billion by FY24-end).
Verticalisation of processes to continue and all operations of the organisation to be digitised by FY24-end.
On the asset quality front, the management remains positive about further improvement and has guided for a reduction of Rs 1 billion in gross stage-III assets and credit cost of ~Rs 250 million in FY24.
We have made marginal changes to our estimates, mainly driven by lower credit cost in FY24/FY25 amid rapid run-down in the restructured portfolio.
We Maintain ' Accumulate' on Repco Home Finance with a target price of Rs 390, valuing it at 0.8 times September 2025E adjusted book value per share.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime 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 BQ Prime.
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.
