Please Share:: 
India Equity Research Reports, IPO and Stock News
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HDFC Bank
• We expect healthy business growth of 20% CAGR over FY11-13E
with a well diversified loan book (~50:50 between retail and
wholesale) and strong liability franchise (CASA ratio of ~48%)
• Margins will be protected at over 4% (one of the best across
industry). Healthy asset quality will lead to lower credit costs
• The bank commands a premium multiple of 3.8x FY13E ABV
because of consistent track record of 30% YoY growth in PAT,
higher margins and healthy asset quality. We expect PAT
growth of 30% CAGR over FY11-13E and RoA of ~1.9% and
RoE of 21% by FY13E
find detail report and other stock pick detail at
No comments:
Post a Comment