NBFCs Q3 Earnings Preview: A Decisive Quarter, Says Motilal Oswal
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Motilal Oswal Report
Q3 FY21 is the first quarter post lifting of the moratorium. Across product segments, there is expected to be month-on-month improvement in collection efficiency (CE).
Adjusted for arrear collections, on-time CE is only marginally below pre-Covid-19 levels.
In addition, a large portion of customers who had not paid a single EMI during the moratorium period have started making payments in Q3.
The festival season was largely healthy across segments. Home loans witnessed a sharp improvement in volumes, with disbursements expected to be up YoY for the large players.
In the vehicle finance segment, two-wheeler volumes were slightly tepid, while passenger vehicle and tractor volumes remained healthy.
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