HFCs - A Quarter Gone By And How Housing Finance Companies Stack Up Against Each Other: ICICI Securities
Growth in home loans was seen in both affordable housing segment as well as in high-end properties.
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ICICI Securities Report
In this report, we pen down a few notable trends in operating performance of housing finance companies. We also highlight how they fared vis-a-vis our expectations and against each other.
The momentum in disbursements has continued in Q2 FY23 as well with players registering sequential uptick in disbursements in the range of 5-15%. Growth in home loans was seen in both affordable housing segment as well as in high-end properties.
What fails to cheer-
Recent credit rating upgrades and optimised borrowing profile for a few affordable HFCs have helped them manage funding cost well. HFCs have raised rates in Q2 FY23 and are planning to raise rates in Q3 FY23 as well. However, the quantum of rise is not directly proportional to repo rate hike.
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