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ICICI Securities Report
Many players witnessed highest quarterly disbursements in any Q1 of earlier years. Growth in home loans was seen in both affordable housing segment as well as in high-end properties.
Due to better than anticipated disbursement trajectory, growth in Housing Development Finance Corporation Ltd.’s individual loan book improved to 19%, Home First Finance Company India Ltd. registered 8% QoQ/36% YoY assets under management growth, Aptus Value Housing Finance India Ltd. at 7% QoQ/30% YoY, Aavas Financiers Ltd. at 4.8% QoQ/23.7% YoY and encouragingly, trend of sequential decline in loan portfolio of Repco Home Finance Ltd. was arrested.
Despite hike in repo rates, we have seen many HFCs not passing on the entire hike in lending rates. LIC Housing Finance Ltd. and Repco compromised on yields and offered discounted rates to existing customer base in order to ensure customer retention and sustain growth momentum.
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