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Home First Finance Company India Ltd share Price

Company details

823.50
844.85
652.00
922.00
6M Return 24.15%
1Y Return -2.57%
Mkt Cap.(Cr) 7,421.78
Volume 82,520
Div Yield 0.32%
OI
-
OI Chg %
-
Volume 82,520

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Home First Finance Company India announced Q1FY24 results:

  • Q1FY24 ROE at 15%, with HL mix at 87%.
  • Q1FY24 Disbursement at Rs 895 crore (35.4% YoY, 3.0% QoQ), broad-based growth across all markets.
  • AUM at Rs 78 billion (33.3% YoY, 8.0% on QoQ). Asset quality sustains at pre-covid levels.

Commenting on the performance Manoj Viswanathan, MD & CEO said, “We stay focused on providing loans for affordable housing, led by distribution and use of technology, backed by diversified funding and strong risk management. We continue to expand our distribution in large affordable housing markets in States where we are already present, going deeper in a contiguous manner. We now do business across 282 touchpoints across Tier 1, Tier 2, and Tier 3 markets in 13 states/ UT. Disbursement in Q1 at Rs 895 crore was higher than in Q4, with a growth of 35.4% on a YoY basis and 3.0% on a QoQ basis, leading to an AUM growth of 33.3% to Rs 7,776 crore.

We witnessed a pass-through of rate hikes and an elevated interest rate environment. Our strong liability profile and timely availability of low-cost funding from NHB enabled us to contain the cost of borrowing. The competitive overall cost of borrowing coupled with a PLR increase of 50bps in Apr’23 helped expand spreads on a QoQ basis and sustain NIM on a QoQ basis, despite the increase in leverage. Spreads at 5.7% remain ahead of our guided levels of 5.25%.

Asset quality is at pre-covid levels and reflects marginal seasonality impact in Q1FY24.

  • 1 DPD increased from 4.0% in Q4 to 4.3% in Q1 but showed a yoy decrease of 70 bps.
  • 30 DPD increased from 2.7% in Q4 to 2.9% in Q1 but showed a yoy decrease of 60 bps.
  • Gross Stage 3 (GNPA) is stable qoq at 1.6% but showing a yoy decline of 50 bps. Before the RBI classification circular of Nov’21, it stands at 1.0% up 10 bps from Q4.
  • Our credit cost is at 40 bps for the quarter

PAT at Rs 69 crore was up 34.9% YoY and 8% QoQ. ROA holds steady at 3.9%. Q1FY24 ROE at 15% ( 220 bps YoY, 60 bps QoQ) is a testimony of our strong and agile business model.

Digital adoption continues to be strong and a key area of our focus as we grow. 93% of our customers are registered on our app as on Jun’23. Unique User Logins were 55% in Q1FY24. Service requests raised on the app were stable at 91%.

We believe that given the tailwinds of the housing sector supported by overall economic growth momentum and the strong execution mindset of the company, we will continue to deliver excellent results while staying true to our mission of being the “Fastest Provider of Home Finance for the Aspiring Middle Class, delivered with Ease and Transparency."

 

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Home First Finance Company India Ltd Stocks COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 1,817.34 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 18,014.89 -11,775.55
LAST 3M 48,885.55 -315.90
LAST 6M 51,016.24 146,552.89
LAST 12M 134,434.58 164,088.22

Home First Finance Company India Ltd Information

Stock PE (TTM)
29.35
Promoter Holding
30.21%
Book Value
206.1164
ROCE
10.34%
ROE
13.46%
Description
  • Home First Finance Company India Limited is engaged in Housing Finance Industry in India. Its market capitalization is worth INR 4,169.22 Cr. as of 16 April 2021. Founded in 2010, this company is listed on the Bombay Stock Exchange (BSE), having the code 543259 and on the National Stock Exchange (NSE) with the symbol HOMEFIRST in February 2021. Headquartered in Mumbai, the housing finance company aims at buyers under the low and middle-income groups. The company mainly deals with providing loans ranging from commercial to residential properties in a hassle-free way for the ease of its customers. Home First Finance Company India Limited is an affordable housing finance company headquartered in Mumbai. It mainly caters to the middle and lower-income groups by providing loans for buying and construction of homes. A majority of the company's customers are first-time home buyers who find it challenging to deal with bigger financial institutions for their home loan requirements. Loan amounts for these homes typically vary between ?5 lakhs to ?50 lakhs. It was founded by Jaithirth Rao, Manoj Vishwanathan and PS Jayakumar in 2010 to cater to the first time formal buyers belonging to the low and middle-income groups. The company mainly deals with providing loans ranging from commercial to residential properties in a hassle-free way for the ease of its customers. This technology-driven housing finance company has posted a strong growth of 58.6% CAGR while the net profits grew at 122.6% during 2018-2020. The company holds a strong network of 70 branches covering 60 districts over 11 states with a significant presence in Gujarat, Tamil Nadu, Maharashtra and Karnataka as of 30 September 2020. The company's current focus is on leveraging technology benefits in the area of risk management, loan applications, and managing customer experience. The company debuted in the stock market in January 2021, with an IPO of INR 517- 518 per equity share. It entered into definitive agreements with an affiliate of Warburg Pincus for an investment of INR 700 crores in October 2020. This investment highlighted the inherent strengths. The essential products and revenue segments currently include income from financial services, interest, commission and fees and other operating revenue. The long term growth for the affordable housing finance sector remains positive, with possible growth of 12-15% in future.

Registered Address

511 Acme Plaza, Andheri Kurla Road Andheri (E), Mumbai, Maharashtra, 400059

Tel : 91-22-6694 0386 / 8880549911
Email : corporate:homefirstindia.com
Website : http://www.homefirstindia.com
Registrar

KFin Techologies Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 543259
NSE Code : HOMEFIRST
Book Closure Date (Month) :
BSE Group : A
ISIN : INE481N01025

FAQ’s on Home First Finance Company India Ltd Shares

You can buy Home First Finance Company India Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Home First Finance Company India Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Sep 28, 2023 12:19 PM the closing price of Home First Finance Company India Ltd was ₹ 842.35.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Sep 28, 2023 12:19 PM, the market cap of Home First Finance Company India Ltd stood at ₹ 7,421.78.

The latest PE ratio of Home First Finance Company India Ltd as of Sep 28, 2023 12:19 PM is 29.35

The latest PB ratio of Home First Finance Company India Ltd as of Sep 28, 2023 12:19 PM is 0.25

The 52-week high of Home First Finance Company India Ltd is ₹ 922.00 while the 52-week low is ₹ 652.00

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