Whalesbook
Toh bhai, company ne toh apne FY26 ke numbers mein dhamaka kiya hai. CEO Rupinder Singh ne bataya ki kaise business momentum aur operational efficiency se profit after tax 33% badh kar ₹503 Crore ho gaya. Gross Assets Under Management (AUM) bhi 29% tezi se ₹11,044 Crore tak pahunch gaya. RoA raha 5.9% aur RoE 17.6%. Board ne toh ₹10 per share ka final dividend bhi recommend kiya hai. Par ye sab achha hone ke baad bhi, 30 April ko NSE par stock 1.09% gir kar ₹811.10 par band hua. Ab investors soch rahe hain ki kya valuation zyada hai ya sector mein kuch problem aa rahi hai.
Waise, housing finance sector ki baat karein toh future bright dikh raha hai. Forecasts keh rahe hain ki 2034 tak ye 8.54% CAGR se grow karega, jismein urbanization aur govt initiatives ka bada role hoga. Economic Survey mein bhi kaha gaya ki housing loans GDP ka bada hissa ban rahe hain. Lekin haan, RBI ek important update de raha hai! 1 July 2026 se HFCs (Housing Finance Companies) ke liye naye rules aa rahe hain, jinka aim customer protection badhana hai.
Asli khichdi yahan pak rahi hai - revenue mein kami! Jahan company ka profit aur AUM badh raha hai, wahin pichle chaar quarters mein revenue 14.5% gir gaya hai. Ye thoda confusing hai, kyunki lagta hai ki profit margin badhane ya cost kam karne se aa raha hai, na ki zyada business hone se. Company ka market cap lagbhag ₹8,800 Crore hai aur TTM P/E ratio 18.7 ke aas paas hai.
Analysts abhi bhi mostly 'Strong Buy' rating de rahe hain, aur unke 12-month price targets ₹1000-₹1125 ke beech hain, matlab potential toh hai. Par revenue kam hone wala point chinta ka vishay hai. Iske alawa, interest rates ka khel aur RBI ke naye rules bhi risks hain. Agar revenue kam hota raha toh current P/E ratio 18.7 thoda high lag sakta hai.
Management ka kehna hai ki FY26 mein loan growth 30-35% rahega aur spreads 6% se upar maintain karenge. Ye log Tier-2 aur Tier-3 cities mein branches bhi khol rahe hain, jo affordable housing ko support karega. Aur dividend ka proposal toh dikhata hai ki shareholder returns par focus hai.