Net interest income rose 31% year-on-year to Rs 823 crore, compared to Rs 629 crore a year earlier. The net interest margin held steady at 4% for both Q3 and Q4, up from 3.8% in the same period last year.
Assets under management grew 26% year-on-year to Rs 1.15 lakh crore, with home loans accounting for 56% of the portfolio. Loan disbursals in the March quarter stood at Rs 14,254 crore, up 25% from Rs 11,393 crore in the year-ago period.
The asset quality remained strong with gross non-performing assets ratio being at 0.29%.
The company’s operating profit was 43% higher for the quarter under review at Rs 750 crore against Rs 523 crore a year back.
Its net worth stood at Rs 19,932 crore while capital adequacy ratio stood at 28.24% against regulatory requirement of 15%.Also Read: IT stocks rise as bears cover shorts, with a new outlook
Bajaj Housing Finance shares price target
As per Trendlyne data, the average target price of the stock is Rs 113, which shows a downside of 15% from the current market prices. The consensus recommendation from 8 analysts for the stock is a ‘Sell’.
Bajaj Housing Finance shares price performance
On Wednesday, Bajaj Housing Finance shares closed at Rs 131.8 on the BSE, up 0.5%, while the Sensex gained 0.65%. The stock has risen 20% over the past three months but is down nearly 4% in the last six months. The company’s market capitalisation stands at Rs 1.09 lakh crore.
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