In today’s briefing:
- LICHF: On Track for a Record FY24 PAT
LICHF: On Track for a Record FY24 PAT
- LIC Housing Finance (LICHF IN) posted a strong Q1FY24, despite an adverse one-off reversible impact. Q1FY24 PAT came in at INR 1319cr vs INR 1191cr QoQ and INR 927cr YoY.
- With the interest rates stabilizing, housing demand has been improving. LICHF’s asset quality has been also improving, adjusted for one-off technical glitch related deterioration.
- At around 6x P/E based on our projected FY24E PAT, LICHF is available quite cheap and has potential to more than double from the current levels.
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