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Buy Aavas Financiers Ltd For Target Rs.1,800 - ICICI Securities Muted quarter but transitory in nature; IT transformation and management stability reinforce our view that company is likely to sustain its industry-leading position in AHFC space The past six months have been challenging for Aavas Financiers (Aavas) mainly due to top-management change. Despite concerns over its growth trajectory due to the apex-level change as well as IT transformation and NIM compression, the company’s performance in Q1FY24 reinforces our view that it will remain i...
Buy Aavas Financiers Ltd For Target Rs.1,800 - ICICI Securities
Buy Aavas Financiers Ltd For Target Rs.1,800 - ICICI Securities
Source: ICICI Securities
19/08/2023 9:51:03 AM
Aavas Financiers shines on raising Rs 150 crore via NCDs Aavas Financiers is currently trading at Rs. 1583.20, up by 15.75 points or 1.00% from its previous closing of Rs. 1567.45 on the BSE. The scrip opened at Rs. 1575.00 and has touched a high and low of Rs. 1583.20 and Rs. 1561.80 respectively. So far 1389 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2410.00 on 01-Aug-2022 and a 52 week low of Rs. 1335.00 on 12-Jun-2023. Last one week high and low of the scrip...
Aavas Financiers shines on raising Rs 150 crore via NCDs
Aavas Financiers shines on raising Rs 150 crore via NCDs
Source: Accord Fintech
21/07/2023 10:30:56 AM
Neutral Aavas Financiers Ltd For Target Rs.1530 - Motilal Oswal Financial Services We attended AAVAS’s analyst meet where the management was represented by the entire senior leadership including the MD & CEO Mr. Sachinder Bhinder and the President & CFO Mr. Ghanshyam Rawat. We highlight the key takeaways from the meet below: * Mr. Sachinder Bhinder, the recently appointed MD & CEO of AAVAS, presented the company's strategic vision of capitalizing on the opportunities within the affordable housing sector by leveraging its expansive geographical pr...
Neutral Aavas Financiers Ltd For Target Rs.1530 - Motilal Oswal Financial Services
Neutral Aavas Financiers Ltd For Target Rs.1530 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
27/05/2023 3:27:00 PM
Reduce AAVAS Financiers Ltd For Target Rs.1,370 - Yes Securities Ltd A good quarter, but need to watch out for any impact after Founder MD’s resignation Aavas delivered an 8% beat on our earnings estimate despite incurring higher credit cost to improve ECL coverage. The asset quality improved significantly with 7-12% qoq reduction in Stage-2 and Stage-3 assets. The reported PPOP was 10% higher than our expectation on stronger-than-expected disbursements/AUM growth, resilient NIMs Aavas’s Founding Promoter & Managing Director, Mr. Sus...
Reduce AAVAS Financiers Ltd For Target Rs.1,370 - Yes Securities Ltd
Reduce AAVAS Financiers Ltd For Target Rs.1,370 - Yes Securities Ltd
Source: Yes Securities Ltd
6/05/2023 2:17:51 PM
Sell Aavas Financiers Ltd For Target Rs.1820 - Motilal Oswal Financial Services Core earnings weak; PAT miss despite high assignment income No improvement in asset quality came across as a surprise * AAVAS Financiers (AAVAS)’s 2QFY23 PAT grew 16% YoY to ~INR1.1b (5% miss). Elevated opex with cost-income ratio at ~45% (PY: 41%) led to the earnings miss despite benign credit costs of INR16m (~5bp annualized). * NII grew 15% YoY to INR1.88b (in line). Other income rose 42% YoY driven primarily by high upfront assignment income of INR494m (because of higher qu...
Sell Aavas Financiers Ltd For Target Rs.1820 - Motilal Oswal Financial Services
Sell Aavas Financiers Ltd For Target Rs.1820 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
28/10/2022 2:18:36 PM
Sell AAVAS Financiers Ltd For Target Rs.2,010 - Motilal Oswal Financial Services Confident of healthy loan growth and improvement in asset quality Margin trajectory will be a key monitorable * PAT grew 49% YoY to INR892m in 1QFY23 (in line). Elevated OPEX, with a cost-income ratio of 47%, was offset by very benign credit costs of INR9m. * Underlying this, NII was flat QoQ and grew 20% YoY to INR1.8b (in line). Other income declined by 38% QoQ, driven by lower assignment income. * Key highlights include: a) GS3 increased by ~10bp QoQ to ~1.1% and 1+DPD grew t...
Sell AAVAS Financiers Ltd For Target Rs.2,010 - Motilal Oswal Financial Services
Sell AAVAS Financiers Ltd For Target Rs.2,010 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
12/09/2022 12:59:56 PM
Buy Aavas Financiers Ltd For Target Rs.3000 - Yes Securities A steady quarter Aavas delivered in-line earnings performance adjusted for the DA income. AUM growth was as per expectations; however stronger disbursements (6% above estimate) were balanced out by higher portfolio run-offs (19.4% annualized – likely higher prepayments/BT Out as 1+ dpd marginally increased). Aided by flattish CoF, the portfolio spread was stable. Opex/Assets ratio was elevated with continuing investments in distribution, employees and technology. Credit cost was beni...
Buy Aavas Financiers Ltd For Target Rs.3000 - Yes Securities
Buy Aavas Financiers Ltd For Target Rs.3000 - Yes Securities
Source: Yes Securities Ltd
23/08/2022 2:33:55 PM
Hold Aavas Financiers Ltd For Target Rs.2,936 - ICICI Securities Stress pool moderates sharply; securitisation income aids earnings Aavas Financiers’ (Aavas) earnings were in line with our expectations with PAT of Rs891mn (up 4% YoY, down 3% QoQ). Encouragingly, 1+dpd pool moderated sharply to 6.45% (vs 8.88% QoQ) thereby lowering the stress pool (stage-2&3 at 5.76%). Nonetheless, stage-3 edged 76bps higher QoQ to 1.72% as 89bps with less than 90 dpd was classified as stage-3 due to revised classification norms. Broadly retaining provision cov...
Hold Aavas Financiers Ltd For Target Rs.2,936 - ICICI Securities
Hold Aavas Financiers Ltd For Target Rs.2,936 - ICICI Securities
Source: ICICI Securities Ltd
8/04/2022 2:18:12 PM
Aavas Financiers inches up on planning to raise Rs 100 crore via NCDs Aavas Financiers is currently trading at Rs. 2803.00, up by 1.40 points or 0.05% from its previous closing of Rs. 2801.60 on the BSE. The scrip opened at Rs. 2795.00 and has touched a high and low of Rs. 2831.80 and Rs. 2794.80 respectively. So far 567 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3336.95 on 02-Feb-2022 and a 52 week low of Rs. 2108.90 on 09-Mar-2021. Last one week high and low of the scrip s...
Aavas Financiers inches up on planning to raise Rs 100 crore via NCDs
Aavas Financiers inches up on planning to raise Rs 100 crore via NCDs
Source: Accord Fintech
3/03/2022 11:42:56 AM
Reduce Aavas Financiers Ltd For Target Rs.2,360 - Monarch Networth Capital Ltd Luxurious valuations for affordable business model We initiate coverage on Aavas Financiers (Aavas), a solid franchise in the affordable housing space with a REDUCE and TP of Rs2,360. Aavas has built a superior lending model in an otherwise riskier segment, led by greater focus around clientele, sourcing, underwriting and collections. These aspects have enabled Aavas to deliver robust asset growth without diluting its quality and see ROE inching to the mid-teens. While we like the model an...
Reduce Aavas Financiers Ltd For Target Rs.2,360 - Monarch Networth Capital Ltd
Reduce Aavas Financiers Ltd For Target Rs.2,360 - Monarch Networth Capital Ltd
Source: Monarch Networth Capital Ltd
3/12/2021 10:51:41 AM
Hold Aavas Financiers Ltd For Target Rs.2,668 - ICICI Securities Stress descends; improved visibility on superior growth profile Aavas Financiers’ (Aavas) Q2FY22 performance showed signs of descending stress. This was evident from 1) steep decline of 380bps in 1+dpd bucket to 8.88%; 2) stage-3 and restructuring contained at 0.96% and 1.5%, respectively; 3) credit cost normalising sooner than envisaged to 25% in medium term. With sustained NIMs, it is likely to deliver 3.5% RoA and 13-15% RoE by FY22E/FY23E. The stock trades at 6.9x FY23E book and ...
Hold Aavas Financiers Ltd For Target Rs.2,668 - ICICI Securities
Hold Aavas Financiers Ltd For Target Rs.2,668 - ICICI Securities
Source: ICICI Securities
2/12/2021 9:30:04 AM
Buy Aavas Financiers Ltd For Target Rs.3,130 - Yes Securities ‘Strong operational delivery’ Our view Key positive highlights of Aavas’s performance in Q2 FY22 were strong disbursements (15% higher than estimate) and material reduction in the delinquent pool (incl. GNPLs). AUM growth came in ahead of expectations at 5.5% qoq/21% yoy, partly aided by portfolio run-off remaining constricted due to lending rate reduction effected before the second wave. While Home Loan growth recovered (up 4% qoq), the traction in other mortgage loan...
Buy Aavas Financiers Ltd For Target Rs.3,130 - Yes Securities
Buy Aavas Financiers Ltd For Target Rs.3,130 - Yes Securities
Source: Yes Securities Ltd
12/11/2021 11:07:57 AM
Hold Aavas Financiers Ltd For Target Rs.2,668 - ICICI Securities Signs of mild stress emerging, though transitory Aavas Financiers’ (Aavas) Q1FY22 performance showed signs of mild stress emerging in its portfolio. This was evident from: i) stage-3 assets at 1.14% (vs 0.98% QoQ), ii) spike in 1+ dpd pool to 12.7% (vs 6.4% QoQ), iii) 1.2% restructuring (vs nil till FY21), and iv) >70bps annualised credit cost (vs sub-50bps for FY21). We revise our credit cost estimate to >50bps for FY22E (vs 35bps earlier) anticipating: 1) further restructu...
Hold Aavas Financiers Ltd For Target Rs.2,668 - ICICI Securities
Hold Aavas Financiers Ltd For Target Rs.2,668 - ICICI Securities
Source: ICICI Securities
7/09/2021 9:22:44 AM
MTF Stock Pick Buy Aavas Financiers Ltd For Target Rs. 2799 - HDFC Securities MTF Stock Pick Buy Aavas Financiers Ltd For Target Rs. 2799 - HDFC Securities  TECHNICAL OBSERVATIONS AAVAS is in strong uptrend on Major time frame. After making a life high on 07th July 2021 it started correcting and halted near 2450 levels which also coincide with important role reversal area. Today stock has broken out from falling trend line with volumes on daily charts. It also took multiple support of bullish trend line and resumed its upward mome...
MTF Stock Pick Buy Aavas Financiers Ltd For Target Rs. 2799 - HDFC Securities
MTF Stock Pick Buy Aavas Financiers Ltd For Target Rs. 2799 - HDFC Securities
Source: HDFC Securities Ltd
4/08/2021 12:04:20 PM
Aavas Financiers Q1 net profit up 19.59% at Rs 59.89 cr The company reported standalone net profit of Rs 59.89 crore for the quarter ended June 30, 2021 as compared to Rs 50.08 crore in the same period last year, registering a year-on-year growth of 19.59 per cent. Net revenue of the company rose moderately by 16.47 per cent at Rs 271.90 crore in April-June quarter of this fiscal as against Rs 233.45 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 47.37 per cent to Rs 79.27 crore from Rs 53.7...
Aavas Financiers Q1 net profit up 19.59% at Rs 59.89 cr
Aavas Financiers Q1 net profit up 19.59% at Rs 59.89 cr
Source: Dion Global Solutions Ltd
30/07/2021 3:23:26 PM
Neutral AAVAS Financiers Ltd For Target Rs.2,400 - Motilal Oswal Strong pickup in disbursements; asset quality healthy * Aavas Financiers (AAVAS)’s 4QFY21 PAT grew 46% YoY to INR876m (16% beat). While operating profit missed our estimates by 8% (due to one-offs), lower-than-expected credit costs and tax rate led to the PAT beat. * Contrary to initial expectations, AAVAS had a healthy FY21, with 21% YoY AUM growth, only a ~50bp increase in the GNPL ratio, and healthy RoA of 3.5%. NII/PAT grew 20%/16% YoY in FY21.   Sharp uptick in dis...
Neutral AAVAS Financiers Ltd For Target Rs.2,400 - Motilal Oswal
Neutral AAVAS Financiers Ltd For Target Rs.2,400 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
13/05/2021 10:36:39 AM
Aavas Financiers Q4 net profit jumps 46.19% at Rs 87.61 cr The company reported standalone net profit of Rs 87.61 crore for the quarter ended March 31, 2021 as compared to Rs 59.93 crore in the same period last year, registering a year-on-year growth of 46.19 per cent. Net revenue of the company rose substantially by 23.49 per cent at Rs 289.41 crore in January-March quarter of this fiscal as against Rs 234.36 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 15.27 per cent to Rs 75.72 crore...
Aavas Financiers Q4 net profit jumps 46.19% at Rs 87.61 cr
Aavas Financiers Q4 net profit jumps 46.19% at Rs 87.61 cr
Source: Dion Global Solutions Ltd
30/04/2021 9:31:10 AM
Buy Aavas Financiers Ltd Fo Target Rs.2,205 - ICICI Securities Quality intact; premium to sustain Aavas Financiers’ (Aavas) asset quality performance reinforces resilience with stage-3 assets (including standstill accounts) at 1%, sub-50bps provisioning for 9MFY21 (75bps in Q3FY21), collection efficiency at 98.8% (December), 1+ dpd pool at 8.2% and zero restructuring. AUM growth of 23% YoY (5% QoQ), sequential uptick (of >10bps) in spreads, cost containment (5-6% rise in opex) supported core operating earnings further buoyed by securitisatio...
Buy Aavas Financiers Ltd Fo Target Rs.2,205 - ICICI Securities
Buy Aavas Financiers Ltd Fo Target Rs.2,205 - ICICI Securities
Source: ICICI Securities Ltd
6/02/2021 10:07:29 AM