357.95 -11.20 (-3.03%)
NSEOct 22, 2020 03:04 PM
The 8 reports from 4 analysts offering long term price targets for PNB Housing Finance Ltd. have an average target of 390.00. The consensus estimate represents an upside of 8.95% from the last price of 357.95.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2018-11-06||PNB Housing Finance ..||Nirmal Bang Institutional||901.00||1272.00||901.00 (-60.27%)||Buy|
Nirmal Bang Institutional
PNB Housing Finance (PNBHF) reported 2QFY19 results with the key pointers being: (1) Disbursements growth slowed to 14% YoY compared with 25% in 1QFY19 (2) NIM contracted 2 bps QoQ to 2.72% due to number of non-structural reasons (3) Asset quality remains bestin-class with a GNPA ratio of 0.45% (4) Opex to ATA metric looked optically poor, rising 15 bps YoY to 0.68% due to non-structural HR costs (See comprehensive conference call takeaways below; see initiating coverage report here). Per se, on the results front, PNBHF posted 6% YoY NII growth at Rs3,832mn, PPOP growth of 24% YoY at Rs4,372mn and PAT growth of 33% YoY at Rs2,530mn. We have revised our estimates for FY19/FY20/FY21 and retained Buy rating on PNBHF, revising our target price to Rs1,272 (from Rs1,312 earlier)...
|2018-08-23||PNB Housing Finance ..||Edelweiss||1382.00||1700.00||1382.00 (-74.10%)||Buy|
|2018-08-10||PNB Housing Finance ..||Nirmal Bang Institutional||1270.00||1673.00||1270.00 (-71.81%)||Buy|
Nirmal Bang Institutional
PNB Housing Finance (PNBHF) reported 1QFY19 results with the key strategic pointers being: (1) Loan assets continued to grow at an industry-leading rate of 45% YoY implying PNBHF in minimally impacted by generic challenges, including RERA, to the physical real estate sector and to the HFC segment (2) PNBHF plans to have ~7-8% of AUM in assignment pool as means of liquidity management (3) Asset quality remains best-in-class (See comprehensive conference call takeaways below; see initiating coverage report here). Per se, on the results front, PNBHF posted 28.1% YoY NII growth at Rs4,329mn, PPOP growth of 33.7% YoY at Rs4,193mn and PAT growth of 50.4% YoY at Rs2,558mn. We have revised our...
|2018-08-09||PNB Housing Finance ..||Motilal Oswal||1299.25||1750.00||1299.25 (-72.45%)||Buy|
9 August 2018 PNBHFs 1QFY19 PAT grew robustly by 38% YoY to INR2.4b, driven by strong AUM growth, margin pressure and lower credit costs. AUM grew 47% YoY/10% QoQ to INR686b. Repayment rate (annualized) was 24.6% in 1QFY19 v/s 29.7% in the year-ago period. While spreads (calc.) declined 10bp YoY to 2.47%, margins shrank ~40bp YoY to 2.65% due to higher leverage. As a result, NII growth was 28% YoY v/s AUM growth of 47% YoY. Spreads are likely to remain under pressure, as the increase in home loan rates may not be able to match the rise in cost of funds, in our view. C/I ratio (calculated) came in at 24.5% v/s average of 22-24% in the past few quarters. We believe that a sustained reduction in the C/I ratio is a must for an improvement in RoE.
|2018-05-04||PNB Housing Finance ..||HDFC Securities||1405.00||1405.00 (-74.52%)||Results Update|
|2018-05-04||PNB Housing Finance ..||Edelweiss||1405.00||1699.00||1405.00 (-74.52%)||Buy|
|2018-05-04||PNB Housing Finance ..||Nirmal Bang Institutional||1405.00||1634.00||1405.00 (-74.52%)||Buy|
Nirmal Bang Institutional
PNB Housing Finance (PNBHF) reported 4QFY18 results with the key strategic pointers being: (1) Loan assets continued to grow at an industry-leading rate of 48% YoY. (2) Rating agencies have affirmed that there is no impact from fraud at the parent on PNBHF's financial profile. (3) Asset quality remains best-in-class (see conference-call highlights below; see initiating coverage report here). Per se, on the results front, PNBHF posted 36% YoY NII growth to Rs4,518mn, PPOP growth of 25% YoY to Rs3,865mn and PAT growth of 44% YoY to Rs2,190mn. We have revised upwards our estimates for FY19/FY20 and retained Buy rating on PNBHF, revising our target price to...
|2018-05-03||PNB Housing Finance ..||Motilal Oswal||1430.00||1750.00||1430.00 (-74.97%)||Buy|
PNB Housing Finance's (PNBHF) 4QFY18 PAT grew robustly by 50% YoY toINR2.2b, but missed our estimate by 5%, largely due to higher-than-expected opex. Excluding one-off expense of INR130m related to securitization, PAT would have been largely in line with estimates. AUM grew 50% YoY/8% QoQ to INR623b. Interestingly, PNBHF sold downINR31b worth of loans during the quarter, taking the total off-BS loan book to INR52b (8% of AUM).Repayment rate (annualized) was 28.8% in 4QFY18v/s 24.4% in the year-ago period.
|2018-02-07||PNB Housing Finance ..||HDFC Securities||1227.00||1227.00 (-70.83%)||Results Update|
PNB Housing Finance Ltd Q3FY18 results comment Operating Income grew by 9.33% to Rs. 1438.49 Cr in Q3FY18 when compared to the previous quarter. Also, it grew by 44.03% when compared with Q3FY17.
|2018-01-25||PNB Housing Finance ..||Edelweiss||1319.00||1694.00||1319.00 (-72.86%)||Buy|
PNB Housing Finance (PNBHF) reported a strong set of numbers in its Q3FY18 financial results. Disbursement grew at 110% to INR 9,276cr, leading 53% YoY growth in AUM to INR 57,668cr. PNBHF...