Mumbai: Bernstein initiated coverage on housing finance companies in the affordable segment and assigned an ‘Outperform’ ratings to HomeFirst Finance, Aptus, and Aadhar; and ‘Market-Perform’ ratings to Aavas and PNB Housing Finance.
The brokerage said around 60% of the labour force has access to credit and mortgages are likely to drive the next leg of growth given the low mortgage penetration.
“We expect affordable mortgages (ticket size
Affordable housing space remains attractive with over 3% return on assets and growth and the ability to replicate operating model consistently across multiple states will be a key for lenders.
