{"id":10304,"date":"2016-11-19T13:41:26","date_gmt":"2016-11-19T08:11:26","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=10304"},"modified":"2016-11-22T16:28:06","modified_gmt":"2016-11-22T10:58:06","slug":"dewan-housing-finance-corporation-dhfl","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/dewan-housing-finance-corporation-dhfl\/10304","title":{"rendered":"Dewan Housing Finance Corporation (DHFL)"},"content":{"rendered":"<p><strong>Key player of housing for all..<\/strong><\/p>\n<p style=\"text-align: justify;\">Dewan Housing Finance Corporation (DHFL) is the 3rd largest private sector\u00a0housing finance company (HFC) in terms of AUM in India. It primarily provides\u00a0housing finance to individuals, especially to the low and lower-middle-income\u00a0groups in Tier II, III and IV cities. The company also offers non-housing loans\u00a0such as loan against properties (LAP), SME and developer loans.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #3ba010; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/registration\/login.jsp?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Account Now! <\/span><\/a><\/div>\n<p style=\"text-align: justify;\"><strong>View &amp; Valuation:<\/strong><\/p>\n<p style=\"text-align: justify;\">DHFL is a play on the high growth Indian housing finance industry,\u00a0which is driven by rising income levels, growing urbanization and low\u00a0penetration of housing finance and shortage of affordable housing. We like\u00a0DHFL due to its consistent loan growth, stable NIM, strong asset quality, better\u00a0capital adequacy, improving return ratios and reasonable valuations. At CMP\u00a0of Rs297, the stock is trading at P\/ABV of 1.7x and 1.5x for FY17E and FY18E, respectively, a steep discount to other HFCs (trading &gt;2.5x FY18E P\/ABV). We\u00a0assign BUY rating on the stock with target price of Rs385 based on 2.0x FY18E\u00a0P\/ABV.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2016\/11\/Research-report-Dewan-Housing-Finance-Corporation.pdf\">Research report Dewan Housing Finance Corporation<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key player of housing for all.. Dewan Housing Finance Corporation (DHFL) is the 3rd largest private sector\u00a0housing finance company (HFC) in terms of AUM in India. It primarily provides\u00a0housing finance to individuals, especially to the low and lower-middle-income\u00a0groups in Tier II, III and IV cities. The company also offers non-housing loans\u00a0such as loan against properties [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dewan Housing Finance Corporation (DHFL)<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Dewan Housing Finance Corporation (DHFL). 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