Indiabulls Housing - A compounder from here?

(kauban) #123

The exposure is 600 Cr tied to an escrow mechanism and adequately provided for according to this article. On a loan book of INR 1.28 tr, how big a disaster is it?

(Manojlion) #124

Moreover the BWR had downgraded Super Tech Builders to D rating on 10th october. Given that the market reacted late, I believe it is more of a panic sell off
Also CARE had provided Super Tech Builders Default rating 1 year back,so defaulting of “Super Tech Builder” is not a surprising news

(initin) #125

Well 600cr is 14% of their trailing twelve months profit, so its not small amount if they have write this off entirely.

(Vishal Bharti) #126

Also, many times its not that there is only a single cockrache in the kitchen!

(Manojlion) #127

Given that we have invested in a HFC ,I believe that there are bound to be defaults from some lenders. As long term investors, I believe we should pass through these phases
Also I believe the company knows the risks when it lends to such builders and I believe in their Underwriting and provisioning of the company .
Let us wait for a confirmed report from the company

Check out @CNBCTV18News’s Tweet:

(SMondal15) #128

Its always like this…Remember 17% fall on a single day when company invested 600 odd cr for securing 40% stake in Oak North Bank. Market was speculating that time Sameer Geholat and Rishi Khosla is siphoning fund from Company. Oak North has lended more than 2 Billion GBP till date and Profit making already. IBull still holds 20% stake but Oak North is quickly raising capital.If you find value hold with courage. Requirement of credit will always be there in India and space for everyone.

(Rudresh) #129

Mohit Arora of Supertech saying 2000 Cr outstanding as of now n vl b able to clear all dues by end of year. He even said none of d banks have marked their account as NPA.

(smartinvestor) #130

IBHF currently holds approx 19 pc of the stake and current valuations make it huge

(SMondal15) #131

Here we go…600 cr invested and already talking about a valuation of 3000 cr for indiabulls stake in Oak nort,in no time.

(EL) #132

Anyone knows which Indiabulls company has a stake in it ?

(Sachin) #133

Indiabulls Housing Finance Limited is the investor in Oaknorth


Any reason why SuperTech needs to come out in support of Banks / HFCs ?
It isn’t listed to so it doesn’t have to. If they want to clear off the dues, its okay as long as lenders are aware of it.

(Rudresh) #135

Catch Indiabulls Housing Finances’ Deputy MD Ashwini Kumar Hooda talks about d current situation of the company.
In worst case he thinks they might get hit by 1500 Cr for which already 1050 Cr as been provisioned.


(Akash Padhiyar) #136

1500 cr default is very huge although they have provosion as additional provisions will be added

(Susindar) #137

How is Rs1500cr bad for a Rs1.33 lakh crore portfolio holder. It’s just above 1%. Also these are fully secured loans with a LTV of less than 45% which means at least a part of this will be returned. On top, they have mentioned that provisions are already at Rs1050 crores as they did additional provisioning with the stake sale. The balance is less than a quarters dividend that IB Housing pays. I think most risks lies in what is left to unfold than what has happened so far. Hopefully liquidity situation improves with proactive government intervention before things get worse.

(AM648) #138

1500 cr is 10% of their total networth (of 15000cr) on the basis they have leveraged 8.2 times to raise debt.

(ankitchandra) #139

Is there any update about 1500 cr default case??

(RadheyShyam Aggarwal) #140

I know 2-3 persons who had loan approval letters from IBHF but the disbursement was not done in last month! And most of these persons have all the credit worthiness and were given loan by HDFC & PNB with-in days.
I searched on Twitter “India bulls Housing loan” , found many guys tweeting to them about non disbursal .
Still numbers look great , am I missing something ?

(Mahendra243) #141

I think the results are not great…

13.72 per cent year-on-year (YoY) drop in profit at Rs 985.51 crore for December quarter. The company had posted a profit of Rs 1,142 last year but NII did beat estimates

(phreak) #142

Yeah, I do see lots of complaints since Oct '18. There is a clear spike on complaints about disbursements being on hold after being sanctioned