Can Fin Homes Share Price Target Q4FY24 Results: Buy, Sell or Hold?

Can Fin Homes Share Price Target: Can Fin Homes Ltd. (CANF) the housing finance arm of Canara Bank, has been making significant strides in expanding its reach, particularly in South India. The company has been focusing on Tier 1 and Tier 2 cities, catering to a wide range of financial needs through its diverse product offerings.

These include housing loans, composite loans, non-housing loans, mortgage loans, commercial property loans, and various deposit schemes.

Can Fin Homes Share Price

The company has demonstrated robust growth with its loan book expanding by 11% year-over-year and 3% sequentially, reaching a total of Rs. 34,999 crore. This growth is supported by a client base that has grown to 2.53 lakh.

Although there was a slight dip in disbursements year-over-year, a significant quarterly growth of 23.1% was recorded. Despite a marginal sequential decrease in Net Interest Income (NII) due to margin pressures, there was a substantial year-over-year increase of 25.5%.

Future Projections and Strategic Goals

Looking ahead, Can Fin Homes is optimistic about achieving a disbursement target of Rs. 11,000 crore by the end of FY25. This target is expected to be driven by new customer acquisitions through developer tie-ups and other new channels.

The company also anticipates that the Net Interest Margin (NIM) will stabilize at around 3.6%, aided by favorable adjustments in credit ratings and repricing activities.

Can Fin Homes Share Price Target

The market has recognized the strong fundamentals of Can Fin Homes, with a current market capitalization of Rs. 9,840 crore and a significant free float of 63%. The share price has seen fluctuations, with a 52-week high of Rs. 905 and a low of Rs. 640.

Based on the financial projections and the strategic positioning of the company, a target price of Rs. 900 is suggested, indicating a promising investment opportunity.

Date8th May 2024
CompanyCan Fin Homes Ltd. (CANF)
CMP (Rs)905.0
Target PriceRs. 900
Market cap (Cr)9840.0

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Harry Prajapati
Harry Prajapati

Harry Prajapati is the creator of sharedhan.com. In 2006, he named the website "Sharedhan," which means share market wealth, to reflect its aim of providing information on making wealth through the share market. He has been a lifelong editor and writer with over 10 years of experience as a stock market & Business blogger.

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