Bajaj Housing Finance shares in focus after Q4 profit jumps 54% YoY on strong loan growth

Bajaj Housing Finance shares will be in focus on Thursday after the firm reported a 54% year-on-year rise in net profit at Rs 587 crore, backed by steady business growth and healthy asset quality.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 outlookBajaj Housing Finance shares price targetAs 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 performanceOn 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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