Ace investor Rakesh Jhunjhunwala has made notable buyings in a major housing finance company for the quarter ending March 2022 (Q4F22) period. This would be none other than Indiabulls Housing Finance.
The Haryana-based mortgage lending company is the third-largest housing finance service provider in India.
As per the latest shareholding pattern, in Q4FY22, Jhunjhunwala’s holding in Indiabulls Housing Finance increased by 0.2% to 60 lakh equity shares or 1.28%. In Q3FY22, the investor held 50 lakh equity shares or 1.08% of the company.
Rakesh Jhunjhunwala who is often referred to as the big bull of Dalal Street has invested in Indiabulls Housing Finance since June last year.
As per Trendlyne data, Jhunjhunwala’s holding in Indiabulls Housing Finance is valued at nearly ₹96 crore.
On BSE, today, the Indiabulls Housing Finance shares slipped by 1.94% and settled at ₹159.05 apiece. At the current closing price, the company’s market cap stands at ₹7,452.63 crore.
Jhunjhunwala picked Indiabulls Housing shares despite the stock correcting steeply in Q4FY22.
From January – March 2022, Indiabulls Housing shares slipped by more than 28.5% on BSE. While so far this year, the shares have dipped nearly 28%.
Indiabulls Housing Finance expects to disburse retail loans of up to ₹18,000 crore in FY23, and ₹24,000 crore in FY24. Meanwhile, the company aims to disburse ₹15,000 crore through wholesale loans AIF platforms in FY23 and ₹20,000 crore in FY24.
The above-mentioned roadmap was announced in Q3FY22. The company is yet to announce its financial performance for Q4FY22.
Indiabulls Housing Finance offers quick, convenient, and competitively priced home loans in the affordable housing segment. The company’s primary goal is to ensure a superior home buying experience to its customers and to make housing finance more affordable and viable by contributing to the ecosystem that supports it.