Repco Home Finance Q4 Review - Asset Quality Improved; Loan Growth Slowed Down Further: IDBI Capital

Residential building in Pune, Maharashtra, India. (Photographer: Dhiraj Singh/Bloomberg).

Repco Home Finance Q4 Review - Asset Quality Improved; Loan Growth Slowed Down Further: IDBI Capital

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Repco Home Finance Ltd.'s gross stage-III assets improved to 3.7% versus 4.3% YoY (4.3% proforma non performing asset in Q3 FY21); net non performing asset declined to 2.3% led by higher provision coverage ratio at 40% YoY.

Restructured assets remains stable at 0.3% for FY21 while need to watch out for restructuring 2.0.

Loan growth was lower at 2% YoY (4% YoY Q3 FY21) versus 7% YoY (FY20) led by higher balance transfers by banks as well as lower disbursements (up 6% YoY).

Net interest income grew by 6% YoY (down 3% QoQ) led by improvement in net interest; pro provision operating profit grew by 9% YoY led by higher other income (up 41% QoQ).

Click on the attachment to read the full report:

IDBI Capital Repco Home Finance Q4FY21 Result Update.pdf

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