Aptus Value Housing Finance India Ltd. share price target

Aptus Value Housing Finance’s (Aptus) Q2FY23 earnings at Rs1.23bn (up 45% YoY/ 4% QoQ), translating into 8.7% RoA and 15.8% RoEs, was exactly in line with I-Sec estimates.

We broadly maintain our FY23-24E estimates and maintain our BUY recommendation on the stock with a target price of Rs 350/share (4.5x FY24E ABV), implying an upside of 21% from the CMP.

Aptus Value Housing Finance’s (Aptus) Q1FY23 earnings at Rs 1.19bn (up 62% YoY /
8% QoQ) translating into 8.9% RoA and 15.9% RoEs was better than expected.

We maintain our BUY rating on the stock with a target price of Rs 400/share (5.1x FY24E ABV), implying an upside of 31% from the CMP.

We initiate coverage with a BUY' rating and a target price of Rs 400/share (5.25x FY24E ABV), implying an upside of 22% from the CMP.

We recently interacted with the management of Aptus Value Housing Finance India Ltd. (Aptus) to get their perspective on growth, branch expansion and ROE. Management expects AUM growth at 25-30% while also placing greater attention around asset quality. Aptus plans to penetrate deeper in its existing markets before foraying into newer territories and through the contagious branch expansion plans. Management pointed at investing into technology given its operational benefits and foresees RoE at 20-22% levels by FY25 mainly driven by lower cost of funds (on back of rating upgrade) and higher leverage. We expect Aptus to deliver RoE of...

Aptus Value Housing Finance is a retail-focused housing finance company that primarily serves low and middle-income self-employed customers in the rural and semi-urban markets of India. The company offers home loans to retail customers to purchase homes, construct residential...

Affordable housing is not about box-sized, budget homes in far-flung places, where there is no connectivity to work places and little surrounding infrastructure. Affordable housing has to be able to cut across all income segments and has to make economic sense in terms of proximity to work place. The agenda for affordable housing requires a combined publicprivate collaboration and a strong political will to enforce change Excerpts from Deepak...