Finance · INDIASH
Finance - Housing
from 650 today
We initiate coverage on India Shelter Finance Corporation with a BUY rating and a target price of Rs 880, driven by its differentiated pan-India affordable housing franchise, lower-ticket focus, and strong growth runway.
India Shelter (ISFC)’s Q1FY27 core operating performance remained strong, with its RoE sustaining at the ~18% mark, supported by a steady spread at 6.6% and incremental spread touching 7.0%. Management sounded confident about delivering 25-30% AUM growth in FY27, and we retain BUY and TP of INR 1,125.
India Shelter Finance Corporation reported a steady quarter with PAT at INR 1.4bn, beating estimates by 4.7%, driven by margin resilience. We maintain BUY on the stock with a revised target price of INR 900.
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