NBFCs ride high on spurt in home loans

    Home Loan
    Recovering fast from the adverse impact of demonetization, non-banking financial companies (NBFCs) are expected to report stronger growth on the back of increasing the pace of home loans intakes, brokerage firm Motilal Oswal said in its recent finding, adding that NBFCs are likely to see moderation, posting an 11% year-on-year basis, thereby, increasing profit after tax after three consecutive quarters of 16-20% growth. It predicts 44% profit growth at Bajaj Finance. Among the rest, it expects profit to expand 30% at Dewan Housing, 26% at Indiabulls Housing Finance, 19% at LIC Housing Finance, 23% at Muthoot Finance, and 18% at Gruh Finance. In the given scenario, housing finance companies are expected to report a better in the just concluded quarter four, as disbursements picked up after a lull third quarter. Interest subvention schemes to support housing for the middle income groups also gave a boost to the sector.
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