Repco Home Finance Q4 Review - Stage-III Pool Settles Lower; Growth Lags: ICICI Securities
Residential buildings in the Parel area of Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Repco Home Finance Q4 Review - Stage-III Pool Settles Lower; Growth Lags: ICICI Securities

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.

ICICI Securities Report

Repco Home Finance Ltd.’s Q4 FY21 earnings exceeded our expectations with profit after tax growth of 33% YoY (3% earnings growth for FY21).

Stage-III pool being contained at 3.7% and credit cost managed sub-1% for Q4 FY21 and 0.7% for FY21 came in as a positive surprise.

However, Covid-19 second wave disruption and extended impact in Tamil Nadu throw in uncertainty for FY22.

Disbursements failed to cheer with a mere 6% YoY growth in Q4 FY21 (down 30% in FY21).

This coupled with elevated balance transfer weighed on assets under management growth (2% for FY21).

Click on the attachment to read the full report:

ICICI Securities Repco Q4FY21 Results Update.pdf

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