Canfin Homes has corrected by about 20% greater than the fall in the broader market.
Canfin Homes has a highly secured home loan book. About 88% of the borrowers belong to the salaried class. Of these, about 50% are PSU employees where job security is quite high. Also, the management follows a conservative approach of considering the registered value of the property, as opposed to the market value of the property, to determine the amount of loan to be extended. Thus, Canfin Homes has the lowest gross NPA ratio in the industry.
FY18 target price of Rs 1,180. Existing Investors can Hold the Stock.
