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Aptus Value Housing Finance India Ltd, a leading Housing Finance Company has declared its financial results for the Quarter ended 30 June 2023. Key Performance Metrics for Q1 FY 24 Performance Highlights Spread at 13.29% Net worth of around Rs.3,400 crores Diversified borrowings from DFIs, NHB, Private and Public Sector Banks. Network of 231 branches as on 30 June 2023 Commenting on the results, Mr. M Anandan, Executive Chair...
Aptus Value Housing Finance Q1FY24 results
. Aptus is an affordable housing finance company incorporated in 2009 and headquartered in Chennai with focus on self employed individuals who are first time home buyers and are ignored by most banks; ATS (Avg, Ticket Size) is at just Rs.8 Lac and total AUM is at Rs. 6,738 Cr . Home loans constitute 65% of AUM while the balance is towards Small Business Loans / LAP . Its presence is entirely in South India with TN/AP/Telangana/Karnataka having mix of 43%/35%/14%/8% .&n...
Buy Aptus Value Housing Finance Ltd For Target Rs. 365 - Nirmal Bang Ltd
Aptus Value Home offers a favourable long-term risk-reward at current valuation (2.7x PABV and 16x PE on FY25E), wherein structural business model positives seem underemphasized. While concerns over stock supply in the longer run are tenable, the apprehensions around management transition and business scalability appear stretched. We view the appointment of Mr. Balaji as MD (erstwhile ED & CFO) as a non-disruptive development with growth/quality execution fairly verticalized and instituti...
Buy Aptus Value Housing Finance India Ltd For Target RS. 350 By Yes Securities
Strong growth/quality at reasonable valuation Aptus Value Home offers a favourable long-term risk-reward at current valuation (2.7x PABV and 16x PE on FY25E), wherein structural business model positives seem underemphasized. While concerns over stock supply in the longer run are tenable, the apprehensions around management transition and business scalability appear stretched. We view the appointment of Mr. Balaji as MD (erstwhile ED & CFO) as a non-disruptive development with growth/qu...
Buy Aptus Value Housing Finance India Ltd For Target RS. 350 By Yes Securities
Stable management, in-house ops, tight control on asset quality to drive earnings We met Aptus Value Housing Finance’s (Aptus) newly appointed MD Mr. P Balaji and Sales, IT and collection head to get a sense of the underlying business trend in AHFC space and how Aptus is placed to sustain ~30% AUM growth in medium term. Our interaction with the top management suggests that with stable management team and focused approach (founder owning ~25% in company and would hold executive chairm...
Buy Aputs Value Housing Finance India Ltd For Target Rs.325 - ICICI Securities
Chennai: Aptus Value Housing Finance India Ltd, a leading Housing Finance Company has declared its financial results for the year ended 31 March 2023. Performance Highlights • Networth of over Rs.3,300 crores • Dividend of Rs.4 per share (Face Value Rs.2 per share) declared • Diversified borrowings - from NHB, DFIs like IFC, large financial institutions and banks • Network of 231 branches as on 31 March 2023 Commenting on the results, Mr. M Anandan, Execu...
Aptus Value Housing Finance announces its financial results for the year ended March 2023
An All-Round Budget Delivering On All Aspirations Our honourable Finance Minister Nirmala Sitaraman presented the Union Budget 2023-34 today. Being the last full-year budget before the Union Election in 2024, the expectations from the Budget were naturally high and hence it was expected to be a growth-oriented budget. Against this backdrop, the Union Budget 2023-24 indeed lived up to its expectations, which was driven primarily by capital expenditure while simultaneously providing an adequ...
Union Budget : 2023-24 Post Budget Analysis & Stock Ideas By Axis Securities
Sturdy performance Growth acceleration, resilient NIMs and NPL reduction were key highlights Aptus delivered a 2-3% beat on NII and PAT while PPOP was in-line with our expectation. Disbursements were 10% higher than our estimate and consequently AUM growth accelerated to 32% yoy (27% yoy in FY22). Growth was driven by home loans (up 7% qoq) and quasi home loans (up 13% qoq), with calibrated growth approach continuing in small business loans (share falling from 23% to 20% in past 4Qs). S...
Buy Aptus Value Housing Finance India Ltd For Target RS. 390 - Yes Securities
Sturdy performance Growth acceleration, resilient NIMs and NPL reduction were key highlights Aptus delivered a 2-3% beat on NII and PAT while PPOP was in-line with our expectation. Disbursements were 10% higher than our estimate and consequently AUM growth accelerated to 32% yoy (27% yoy in FY22). Growth was driven by home loans (up 7% qoq) and quasi home loans (up 13% qoq), with calibrated growth approach continuing in small business loans (share falling from 23% to 20% in past 4Qs). S...
Buy Aputs Value Housing Finance India Ltd For Target Rs.390 - Yes Securities
Gained growth momentum, NIMs stable; ECL provisions inched up Aptus Value Housing Finance’s (Aptus) Q2FY23 earnings at Rs1.23bn (up 45% YoY/ 4% QoQ), translating into 8.7% RoA and 15.8% RoEs, was exactly in line with I-Sec estimates. The company gained traction in disbursements at Rs6.04bn (up 15% QoQ and 69% YoY), supported improved momentum in AUM growth at 7% QoQ and 33% YoY to Rs59.32bn. NIMs were broadly stable QoQ and core NII grew 39% YoY/7% QoQ to Rs1.91bn (in line with estim...
Add Aputs Value Housing Finance India Ltd For Target Rs.357 - ICICI Securities
Aptus delivered a healthy beat on PPOP and PAT level aided by higher NII (material decline in CoF), larger other income and controlled opex. Earnings beat came through despite a higher credit cost from the Rs60-70mn loan write off. Disbursements (Rs5.2bn, up 14% qoq/26% yoy) and AUM growth (up 8% qoq/27% yoy) were in-line with expectations and traction was stronger in home loans (share of secured business loans came-off further). Pre-closure rate was stable with BT Out staying around 3-4% ...
Buy Aptus Value Housing Finance Ltd For Target Rs. 400 - Yes Securities
Normalization of asset quality ensues Aptus delivered a healthy beat on PPOP and PAT level aided by higher NII (material decline in CoF), larger other income and controlled opex. Earnings beat came through despite a higher credit cost from the Rs60-70mn loan write off. Disbursements (Rs5.2bn, up 14% qoq/26% yoy) and AUM growth (up 8% qoq/27% yoy) were in-line with expectations and traction was stronger in home loans (share of secured business loans came-off further). Pre-closure rate was s...
Buy Aptus Value Housing Finance India Ltd For Target RS.400 - Yes Securities
Superior execution Aptus Value Housing (APTUS) is a niche, affordable-housing finance player with expertise in the self-employed/LIG segment (72/73% of AUM) and strong presence in the South. APTUS focusses on Tier III/IV locations (rural contributes ~66% of AUM) and ~40% of its customers are New To Credit, which helps it to have better risk pricing (yields of ~17%). APTUS has industryleading profitability (ROA of ~7.5% in FY22ii) with superior margins (12%+) and a frugal operating-expenses...
Buy Aptus Value Housing Finance India Ltd For Target Rs.400 - IIFL Securities
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