Intense competition in Tamil Nadu
Competitors poaching staff and high attrition could impact growth and collection efficiency in Tamil Nadu.
APTUSVALUEHOUSINGFINANCE / bear-case history
Track the concerns that keep returning.
Aptus Value Housing · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Yield compression from rate cuts
Calibrated lending rate reductions for incremental housing loans may reduce spreads by 15-20bps, impacting profitability.
Rising GNPA in NBFC portfolio
GNPA increased to 1.52% due to higher stress in NBFC segment (20-30bps higher than housing), requiring stronger collection efforts.
Potential increase in borrowing costs
Management noted incremental cost of funds may rise slightly, which could offset some spread benefits.