Piramal Enterprises Ltd. share price target

FY18 is likely to be another strong year for Piramal Enterprises (PIEL). In 1HFY18, the loan book grew ~70% YoY driven by all segments, especially non-real estate corporate financing. The healthcare business too witnessed improving traction. Consolidated PAT was up 28% YoY in 1HFY18. We expect 2HFY18 to be as strong, with 28% PAT YoY growth to INR9.5b. On account of a strong growth outlook for FY19 and FY20 (35% CAGR in our view), PIEL recently raised INR50b via Compulsorily Convertible Debentures (CCDs) and also plans to raise additional INR20b via rights issue, of which the promoters have agreed to underwrite 90%. We believe much of this capital will be used to support growth in the financing business.

Piramal Enterprises (PIEL) hosted a conference call to discuss the launch of its housing finance business. The call revolved around the strategy, competitive positioning and outlook for this segment. Post the receipt of the HFC license in the first week of September, PIEL is off to a good start, driven by its B2B2C' strategy, i.e. reaching out to home buyers in projects...

Revenue grew by 4.66% to Rs. 2450.93 Cr in Q4FY17 when compared to the previous quarter.

Revenue rose by 19.49% to Rs. 2313.83 Cr in Q3FY17 when compared to the previous quarter. Also, it increased by 30.35% when compared with Q3FY16.