ICICI Direct: HUDCO - Gradual Growth And Moratorium To Impact Valuation

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Housing and Urban Development Corporation Ltd., a Miniratna company, plays a key role in various government schemes to develop Indian housing and urban infrastructure.HUDCO reported a weak set of Q1 FY21 numbers wherein muted topline and surge in provisioning dented profit after tax growth.Moratorium increased from approximately 25% in Q4 FY20 to approximately 37-38% as of June 2020.Advances growth was muted at 3% YoY at Rs 78,179 crore due to slower economic activity.Housing loan growth was healthy at 7.6% YoY at Rs 45,868 crore while urban infrastructure book de-grew 2.2% YoY to Rs 32009 crore.In terms of loan composition, government agencies accounted for approximately 96.3% of advances while loans to private companies accounted for 3.64% of total loan book.Disbursements for the quarter was at Rs 2,285 crore with a substantial portion of disbursements skewed towards low yielding social housing segment at Rs 2,200 crore (approximately 96.3% of total disbursements)..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Direct: HUDCO - Gradual Growth And Moratorium To Impact Valuation

ICICI Direct: HUDCO - Gradual Growth And Moratorium To Impact Valuation

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