Cash News
Bajaj Housing Finance reported that its Assets Under Management (AUM) crossed the mark of ₹1 lakh crore during the quarter.
Assets Under Management for the quarter that ended on September 30 stood at ₹1,02,550 crore, a growth of 26%, in comparison to the ₹81,215 crore figure during the same quarter last year.
In-line with the two prior quarters, AUM for the September quarter grew by ₹5,480 crore in absolute terms.
Bajaj Housing Finance’s loan assets (AR) stood at nearly ₹89,860 crore at the end of the September quarter, as compared to ₹70,954 crore last year.
Bajaj Housing Finance ranks as among the most successful listings of the year, having listed at a premium of over 100% as compared to its IPO price of ₹70. The stock had ended its listing day with gains of 135% and made a high of ₹188.5.
Since then, the stock has seen some profit booking but is continuing to hover around the mark of ₹150, which is where it ended Thursday’s trading session as well, with losses of 1.4%.
Brokerage firm PhillipCapital had initiated coverage on Bajaj Housing with a “buy” rating and a price target of ₹210 a day after its listing.
PhillipCapital believes that Bajaj Housing Finance is in a “league of its own” with a ticket size of ₹50 lakh being the “sweet spot for many home loan aspirants.”