Motilal Oswal Recommends 'BUY' on Home First Finance, Sets Target at Rs 1370
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Moneycontrol•27-01-2026, 14:35
Motilal Oswal Recommends 'BUY' on Home First Finance, Sets Target at Rs 1370
- •Home First Finance reported a 44% YoY PAT growth to INR1.4 billion in 3QFY26, with NII up 44% YoY to INR2.3 billion.
- •Excluding new labor code provisions, PAT growth was 47% YoY, while other income saw a 6% YoY growth, impacted by lower treasury income.
- •Operating expenses increased by 23% YoY to INR926 million, and provisions of INR33 million were made for employee benefits.
- •PPoP rose approximately 41% YoY to INR2 billion, with credit costs at INR142 million, translating to an annualized credit cost of ~46bp.
- •Motilal Oswal projects a ~24% AUM CAGR for Home First Finance over FY25-FY28 and reiterates a 'BUY' rating with a target price of INR1,370.
Why It Matters: Motilal Oswal recommends buying Home First Finance, citing strong Q3 results and a promising growth outlook.
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