Buy Housing and Urban Development Corporation, target price Rs 59.5: ICICI Direct

ICICI Direct has buy call on Housing and Urban Development Corporation with a target price of Rs 59.5. The current market price of Housing and Urban Development Corporation is Rs 55.2.Time period given by analyst is 2 weeks when Housing and Urban Development Corporation price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 51

Housing and Urban Development Corporation, incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 10990.43 Crore) operating in NBFC sector.

Housing and Urban Development Corporation key Products/Revenue Segments include Interest, Rental Income, Income From Sale Of Share & Securities, Fees & Commission Income, Sale of services and Dividend for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1746.87 Crore, down -.59 % from last quarter Total Income of Rs 1757.32 Crore and up .07 % from last year same quarter Total Income of Rs 1745.62 Crore. Company has reported net profit after tax of Rs 396.35 Crore in latest quarter.

The company’s top management includes Mr.Kamran Rizvi, Mr.M Nagaraj, Mr.D Guhan, Dr.Ravindra Kumar Ray, Dr.Siyaram Singh, Mrs.Sabitha Bojan, Mr.Banshi Lal Gujar, Mr.Shyam S Dubey, Mr.Kuldip Narayan. Company has APRA & Associates LLP as its auditors. As on 30-06-2022, the company has a total of 200 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 81.81 per cent stake in the company as of 30-Jun-2022, while FIIs owned 0.22 per cent, DIIs 7.81 per cent.