External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>We revise our FY22/FY23 estimates upwards by 5.4%/6.2%, driven by higher loan growth in FY22, while we remain conservative on our loan loss estimates. Maintain REDUCE with a revised target price of INR 402 (earlier INR 376). LIC Housing Finance: LIC Housing Finances (LICHF) 4QFY21 earnings were better than our estimates on the back of funding cost tailwinds, lower-than-anticipated opex and, low tax rate. Disbursements witnessed a sharp uptick across categories to reach an all-time high of INR 224bn (33% QoQ).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We revise our FY22/FY23 estimates upwards by 5.4%/6.2%, driven by higher loan growth in FY22, while we remain conservative on our loan loss estimates. Maintain REDUCE with a revised target price of INR 402 (earlier INR 376). LIC Housing Finance: LIC Housing Finances (LICHF) 4QFY21 earnings were better than our estimates on the back of funding cost tailwinds, lower-than-anticipated opex and, low tax rate. Disbursements witnessed a sharp uptick across categories to reach an all-time high of INR 224bn (33% QoQ).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

LIC Housing Finance

HSIE Results Daily: LIC Housing Finance