Piramal Enterprises Q1 - Strong Retail Loan Growth; Legacy Book Will Be Aggressively Run Down: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Piramal Enterprises Ltd. reported Q1 FY25 net profit of ~Rs 1.8 billion (previous quarter: ~Rs 1.4 billion). This included an exceptional gain of ~Rs 1 billion from recoveries in AIF portfolio. Reported PAT in Q4 FY24 included provision write-back on AIF investments of Rs 11.4 billion and stake sale in Shriram Investment Holding, resulting in gain of Rs 8.7 billion.Piramal Enterprises' net interest income rose 6% YoY and 2% QoQ to ~Rs 7.2 billion. Pre provision operating profit at ~Rs 2.4 billion declined ~76% YoY. Total assets under management grew 10% YoY and declined 2% QoQ. Wholesale 2.0 AUM grew 11% QoQ to Rs 70.7 billion, while Wholesale 1.0 AUM declined ~50% YoY/ 11% QoQ to Rs 130 billion. Retail AUM grew ~45% YoY to Rs 505 billion with its share in the loan book increasing to ~72% (previous quarter: 70%).Gross stage III/net stage III increased ~30 basis points each to 2.7%/1.1%. Stage III provision coverage ratio declined by ~5% QoQ to ~60%. Total ECL/EAD declined by ~70 bp QoQ to ~4.4% of the AUM.Total SRs declined ~6% QoQ to Rs 45.8 billion. As resolution processes continues, SR portfolio will continue to reduce in the near term..Click on the attachment to read the full report:.Ecom Express Files DRHP To Raise Rs 2,600 crore Via IPO.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Piramal Enterprises Q1 - Strong Retail Loan Growth; Legacy Book Will Be Aggressively Run Down: Motilal Oswal

The brokerage's earnings estimates for FY25 and FY26 only factor in exceptional gains from the AIF exposures and low tax outgo in the foreseeable future.

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Piramal Enterprises Q1 - Strong Retail Loan Growth; Legacy Book Will Be Aggressively Run Down: Motilal Oswal

The brokerage's earnings estimates for FY25 and FY26 only factor in exceptional gains from the AIF exposures and low tax outgo in the foreseeable future.

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