Prabhudas Lilladher Recommends 'Accumulate' on Can Fin Homes; Sets Rs 1015 Target

• Prabhudas Lilladher recommends 'Accumulate' rating for Can Fin Homes with a target price of Rs 1,015.
• Can Fin Homes saw a pick-up in 3Q disbursements, particularly in Karnataka/Telangana.
• Loan book grew 10% YoY in Q3; projected loan growth is 11% for FY26 and 14% for FY27E.
• Net Interest Margin (NIM) is expected to align with guidance at 3.75% for FY26/FY27E due to lower borrowing costs.
• Elevated cost-to-income ratio (18% over FY26-28E) is anticipated due to investments in business transformation and expansion.

Why It Matters: Prabhudas Lilladher advises accumulating Can Fin Homes, projecting a Rs 1,015 target despite elevated operating expenses.