Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

India Independent Insight

Equity Bottom-Up

<ul>
<li>We interact with <a href="https://www.smartkarma.com/entities/home-first-finance-company-india" target="_blank" data-smartkarma-citation="entities:28865:1" rel="noopener">Home First Finance (HOMEFIRS IN)</a>  branch managers to understand the reason behind the increase in bounce rates.</li>
<li>The overall NACH data also shows a high rejection rate in October despite being a festive month, which is surprising.</li>
<li>With 92% of <a href="https://www.smartkarma.com/entities/home-first-finance-company-india" target="_blank" data-smartkarma-citation="entities:28865:1" rel="noopener">Home First Finance (HOMEFIRS IN)</a> loans being disbursed in less than 48 hours, this focus on TAT could lead to higher than industry-average asset quality issues. </li>
</ul>

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

<ul><li>HomeFirst’s 2QFY23 PAT grew 21% YoY/6% QoQ to INR543m (in-line).</li><li>Credit costs grew 37% QoQ to INR50m (MOFSLe: INR31m).</li><li>Underlying this, the NII grew 58% YoY to ~INR1b (in-line).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

<ul>
<li>
<a href="https://www.smartkarma.com/entities/home-first-finance-company-india" target="_blank" data-smartkarma-citation="entities:28865:1" rel="noopener">Home First Finance (HOMEFIRS IN)</a> is growing fast and has a low operating cost, there is a reason why. </li>
<li>
<a href="https://www.smartkarma.com/entities/aavas-financiers-ltd" target="_blank" data-smartkarma-citation="entities:27422:1" rel="noopener">Aavas Financiers Ltd (AAVAS IN)</a> operates in its own specific domain taking only risks that it is comfortable with.  </li>
<li>Competitive feedback is positive for <a href="https://www.smartkarma.com/entities/iifl-holdings-ltd" target="_blank" data-smartkarma-citation="entities:20197:1" rel="noopener">IIFL Holdings (IIFL IN)</a> 's HF subsidiary. <a href="https://www.smartkarma.com/entities/capri-global-capital-ltd" target="_blank" data-smartkarma-citation="entities:18094:1" rel="noopener">Capri Global Capital (CGCL IN)</a> seems to be following AU Bank's footsteps, but hopefully only in underwriting.</li>
</ul>

Brian Freitas

Pan-Asia Index Rebalances/Events/Delta One

Periscope Analytics

Event-Driven

<ul>
<li>There were a bunch of rebalance announcements last week from FTSE and Nifty, and implementation of changes to the MSCI, JPXNK400 and Hang Seng indexes.</li>
<li>The changes to the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> should be announced early in the coming week and the changes to the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> will be implemented on Friday.</li>
<li>There were large inflows to China and Hong Kong focused ETFs during the week.</li>
</ul>

Edelweiss

<p>Financing homes for India's middle class</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

India

Home First Finance Company India Limited provides housing finance services. The Company offers home loan, mortgage finance, eligibility calculating, and customers support services. Home First Finance Company serves customers in India.

ADTV (USDm)	0.00
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
P/B	0.00
EV/EBITDA	0.00
EV/Sales	0.00
Dividend (Yield)	0.00

Home First Finance - HOMEFIRS IN

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