Motilal Oswal Maintains 'Neutral' on Can Fin Homes, Sets Rs 1015 Target

• Can Fin Homes (CANF) reported a 25% YoY PAT growth to INR 2.6 billion in 3QFY26, with NII up 22% YoY to INR 4.2 billion.
• Fee and other income increased to INR 97 million from INR 58 million in the previous year.
• Operating expenses rose 35% YoY to INR 799 million, leading to a cost-to-income ratio of 18.5%.
• CANF made additional provisions of INR 4.7 million for gratuity due to new labor laws.
• Motilal Oswal projects 14% advances CAGR and 10% PAT CAGR for CANF over FY26-28, reiterating a 'Neutral' rating with a target price of INR 1,015.

Why It Matters: Motilal Oswal maintains a 'Neutral' rating on Can Fin Homes with a target of Rs 1015, citing steady growth.