Dewan Hsg Fin

By Research Desk
about 9 years ago
Dewan Hsg Fin

 

Wadhwan Group’s home loan arm Dewan Housing Finance announced a 1:1 bonus for its equity shareholders along with good set of Q1FY16 results. Like other listed housing finance peers, Dewan Housing’s results were also healthy, with 2.7% QoQ rise in net interest income to Rs. 418 crore, despite quarterly disbursement at Rs. 4,938 crore, down 22% QoQ (partly due to year end push in March) but up 14% YoY. PAT growth was healthier at 7% QoQ to Rs. 173 crore, leading to EPS of Rs. 11.89.

Share remains one of the cheapest housing finance stocks, with PBV of just 1.46x, as of 30-06-15. With promoter holding of 35% and institutions owning another 30%, company seems to enjoy good shareholder patronage too, including that of Rakesh Jhunjhunwala.

16.70 (-1.85)

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