AND FI­NALLY..

Dalal Street Investment Journal - - KERBSIDE -

The com­pany re­ported a bet­ter-than-es­ti­mated 26% growth in the net profit for the quar­ter ended Septem­ber, 2017 and its NII was also up by 27% on a YOY ba­sis. The loan book for the quar­ter grew by 33% and the share of home loans in the over­all book inched up 100bps. The man­age­ment has guided 30% AUM growth for FY18 and fo­cus is on ex­pand­ing dis­tri­bu­tion model through e-home loans and Smart City home loans. Ad­di­tion­ally, Oa­knorth Bank has se­cured in­vest­ment of GBP 154 mil­lion from three in­vestors valu­ing it at GBP 962 mil­lion and In­di­a­b­ulls Hous­ing Fi­nance ap­prox. 30% stake is now val­ued at $380 mil­lion against the orig­i­nal in­vest­ment of $100 mil­lion. Con­sid­er­ing the growth prospects of the com­pany, the stock could be looked at for short-medium term gains.

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