LIC Housing Finance - Management meeting update - Kotak

We recently met Sunita Sharma, Chief Executive, LIC Housing Finance. Key takeaways from our meeting—(1) growth in mortgage business will likely remain range-bound till the economic cycle picks up, (2) NIM will likely remain stable with a positive bias, (3) net credit cost will remain low in the near term; NPL recoveries from developer loans will provide an upside and (4) LICHF's bank, if licensed by RBI, will be set up in the private sector (and may not be a PSU). We retain our estimates, ADD rating with target price of Rs. 250.

Source : Equity Bulls

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