Buy PNB Housing Finance, target price Rs 535: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has buy call on PNB Housing Finance with a target price of Rs 535. The current market price of PNB Housing Finance is Rs 531. Jayesh Bhanushali recommended to keep stop loss at Rs 486.
PNB Housing Finance, incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 13645.51 Crore) operating in NBFC sector.

PNB Housing Finance key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Sale Of Share & Securities for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1637.72 Crore, down -8.84 % from last quarter Total Income of Rs 1796.52 Crore and up 14.86 % from last year same quarter Total Income of Rs 1425.83 Crore. Company has reported net profit after tax of Rs 279.28 Crore in latest quarter.

The company’s top management includes Mr.Girish Kousgi, Mr.Kapil Modi, Mr.Sunil Kaul, Mr.Atul Kumar Goel, Mr.Neeraj Vyas, Mr.Pavan Kaushal, Mr.Sudarshan Sen, Ms.Gita Nayyar, Dr.T M Bhasin, Mr.Nilesh S Vikamsey, Mr.R Chandrasekaran, Mr.Dilip Kumar Jain. Company has T R Chadha & Co LLP as its auditors. As on 31-03-2023, the company has a total of 17 Crore shares outstanding.

Investment Rationale
Stock has given a cup and handle breakout.

Promoter/FII Holdings
Promoters held 32.52 per cent stake in the company as of 31-Mar-2023, while FIIs owned 24.29 per cent, DIIs 3.65 per cent.