We reiterate a Buy rating with a revised SOTP of Rs. 9,940 (valuing stock at 4.9x/ 4.0x of FY26/FY27 BV estimates on standalone basis plus considering Bajaj Housing Finance’s valuation). Stock trades at 4.1x/3.4x/2.8x FY2025E/FY2026E/FY2027E BV (standalone) estimates.