Aadhar Housing Finance IPO Review

Aadhar Housing Finance Ltd. (AHFL) leads in the low-income housing sector in India, boasting the highest Assets Under Management (AUM) and net worth among peers for FY2021, FY2022, FY2023, and the nine months ending December 31, 2022 and December 31, 2023. AHFL's live accounts surpassed those of its competitors in FY2023. With a presence in 20 states and union territories, AHFL outshines its peers. Priced at a P/BV of 2.93 based on a Net Asset Value (NAV) of Rs. 107.60 as of December 31, 2023, AHFL's IPO is attractively priced. Post-issue, its Price-to-Earnings (P/E) ratio stands at 18.38. With a rise in Profit After Tax (PAT) to Rs. 730 Cr. in FY24 (TTM basis) from Rs. 544 Cr. in FY23 and a 25% increase in revenue compared to FY23, AHFL shows robust growth. Operating with 498 branches nationwide, AHFL is a compelling investment opportunity for medium to long-term investors.