“MD & CEO Resign”

Can Fin Home Limited, a housing finance firm in its BSE filing said that, Shri Girish Kousgi (MD & CEO) has conveyed to the Board of the company today (September 19, 2022) about his decision to resign from the post of “Managing Director & Chief Executive Officer” of the firm owing to personal reasons.

The Company however has said that Girish Kousgi will continue to serve as the MD & CEO and discharge his duties till the date of relieving.

Kousgi joined Can Fin Homes Limited as a Managing Director & CEO back in September 2019, and has held the job since the past 3 years.

Girish Kousgi has an overall experience of 18 years in financial and banking services.

The share of Can Fin Homes Ltd today closed at INR 587 (DOWN 7.56%) on the NSE with a volume of 30,91,324 shares.

Also Read: Nifty prediction for September 2022

7 September 2022

Can Fin Homes Limited is a Housing Finance Company established in the year 1987 with the primary objective to provide housing finance.

Can Fin Homes – History

Can Fin Homes was incorporated on 29th October in Bangalore. The company has been promoted by Canara Bank, jointly with Canbank Financial Services Limited, UTI, HDFC, and ICICI.

Can Fin Homes – Business

Can Fin Homes provide long-term housing loans to individuals and corporate bodies for construction or acquiring houses or flats.

The Company focuses on funding to low and middle-income group individuals as well as first-time homebuyers’ preferably salaried people or professionals.

However, since 2014 the company has increased its exposure to self-employed professionals and non-professionals.

Can Fin Homes – Product Mix

The company mainly has 3 segments (Product Mix) –

• Housing finance (average ticket size is 18 lacs for housing loans)
• Non-housing Finance (average ticket size is 9 lacs for non-housing loans
• Deposits (accepts fixed and cumulative deposits as per the rules of the National Housing Bank)

Can Fin Homes – Network

The Company has a pan India presence with 188 Branches, 21 Affordable Housing Loan Centres (AHLCs), and 12 Satellite Offices (SOs); 198 outlets in total over 100 cities spread across 21 States and Union Territories.

The total number of employees increased from 205 in March 2010 to 838 in Dec 2020.

Road Ahead

The Company’s conscious focus is to penetrate deeper into its known territory in the Southern India region while expanding to potential centres in other parts of the country.

Management Team

• Girish Kousgi (MD & CEO)
• Amitabh Chatterjee (Deputy MD)
• Shamila M (General Manager)

Listed On:

The share of Can Fin Homes Ltd is presently listed on the Bombay Stock Exchange (BSE); CODE 511196 and National Stock Exchange (NSE) as CANFINHOME

Stock Info: Can Fin Homes

Share Holding Pattern

Financials

Conclusion

Can Fin Homes Limited is one of the top players in the housing finance sector, in the country today.

The Company has completed 34 years of operation in the field of home finance and has a renowned history of making profits and paying dividends continuously.

Some of the top institutions like UTI Arbitrage Fund, Canara Robeco Mutual Fund, Axis Mutual Fund Trustee Ltd, L And T Mutual Fund Trustee Ltd, Pgim India Trustees Private Ltd, Invesco India Arbitrage Fund, DSP Flexi Cap Fund, Sundaram Mutual Fund, and Edelweiss Trusteeship Co Ltd are having more than a 1% stake in the company (as of June 2022).

Can Fin homes numbers for June 2022 quarter; Net Sales at INR 612 Cr (UP 36% Y-O-Y and 10% Q-O-Q) while Net Profit at INR 162 Cr (UP 49% Y-O-Y and 32% Q -O-Q)

On the technical front, can fin homes share price is trading above its 21 EMA (617) and 50 EMA (577) on the daily chart.

Keeping the above-listed factors in mind, Can Fin Home looks good at INR 635. Finblab recommends investing in the stock in a staggered manner for the medium to the long haul (3 to 5 years period).

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Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I (Vishal Dalwadi) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Can Fin Homes Limited: Value Pick Stock September 2022, Update appeared first on Upcoming ipos: Latest news on stocks, economy & finance.

Aavas Financiers – Company Profile

Incorporated in the year 2011, Jaipur (Rajasthan) based Aavas Financiers Limited is a company engaged in the business of providing retail, affordable housing finance to low and middle income self-employed customers in semi-urban and rural areas in India.

AAVAS – Business Products

Aavas Financiers is engaged in three types of products mentioned below under its housing finance business –

• Finance for Purchase: The product is designed to purchase individual dwelling units, flats in low cost buildings, detached and semi-detached units, cluster units, and residential units. This is also applicable for properties under construction or ready built property.
• Finance for Construction: The product is designed to offer loans for construction on a plot of land, which has been already acquired.
• Finance for Home Extension: This product is designed to offer loans to individuals for extension of an existing home unit, which can include construction of additional rooms, floors etc.

Aavas Financiers – Business Segment

• Aavas Financiers Limited is primarily engaged in the business of providing housing loan to customers belonging to low and middle income segment in semi-urban and rural areas.
• Target Customers: Company believes that these are the people who are either self-employed, running small businesses like providing transportation facilities in auto rickshaw or other vehicles, running grocery shops, tiffin centers, beauty parlours and other businesses or these customers are carrying out business of agri or animal husbandry products in rural areas or salaried class people who are carrying out small jobs in private or public sector.
• Company further believes these are credit worthy customers who may or may not have the income proof documents like salary slip, IT return, and hence are financially excluded by other large housing finance companies and banks. AAVAS uses unique appraisal methodology to assess these customers individually.

Aavas Financiers – Area of Operations & Branches

Aavas Financiers caters the needs of various small families in rural areas, towns, and a city’s peripheral area and other semi-urban areas to meet their life time dream to own their own house.

Currently Aavas Financiers is operating in 8 states namely Rajasthan (75 branches), Chattisgarh (5 branches), Delhi (2 branches), Gujarat (29 branches), Haryana (6 branches), Maharashtra (36 branches), Madhya Pradesh (29 branches), and Uttar Pradesh (4 branches)

Aavas Financiers – License

Aavas Financiers Limited got registered with National Housing Bank (subsidiary of Reserve Bank of India) as a Housing Finance Company (HFC) and awarded the license from National Housing Bank (NHB) in August 2011.

The Company has received the ASSOCHAM Excellence Award for being the best housing finance company in affordable housing in 2016.

Company Promoters

Promoters of Aavas Financiers Limited are (1) Lake District Holdings Limited and (2) Partners Group ESCL Limited

IPO Opening / Closing Date

IPO Details – Price, Minimum Bid and Other

Aavas Financiers – Financial Performance

Revenues

Aavas Financiers Limited shows a steady revenue growth in last 5 years. Top-line has been increasing regularly for the last five years and jumped from INR 54.32 Cr in FY 2014 to INR 457.24 Cr for the period ended FY 2018.

Profits

Though the company has shown a steady growth in revenue, the company has also registered growth in profits in these five years. Starting from INR 6.3 Cr of profits in FY 2014, the company’s earnings improved to INR 92.93 Cr for the period ended FY 2018.

CONCLUSION –

Considering company’s valuation and financial parameters, FinBlab recommends DO NOT SUBSCRIBE ratings (for the time being) on Aavas Financiers Limited IPO

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1) Finblab’s Valuepick Stock for the month of September 2018 – HIL Limited

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3) TOP 5 REASONS WHY INDIAN RUPEE IS FALLING AGAINST US DOLLAR

4) TOP 6 REASONS WHY COMPANIES GO FOR A SHARE BUYBACK

Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “Fin Blab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Aavas Financiers Limited IPO – Company Profile, Price, Analysis appeared first on Upcoming ipos: Latest news on stocks, economy & finance.