Models
HDB FINANCIAL SERVICES LHDBFSFinance
₹239per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹239implied P/B 0.96× on FY26 book
Against CMP ₹670.85−64.3%close of 2026-09-10
Cost of equity12.54%risk-free + beta × equity risk premium
Book equity, FY26₹249per share · excess returns add ₹(10)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 20,664 | 22,959 | 25,509 | 28,342 | 31,490 |
| Net income at 12.3% ROE | 2,542 | 2,824 | 3,138 | 3,486 | 3,873 |
| Cost of equity charge at 12.54% | (2,590) | (2,878) | (3,198) | (3,553) | (3,948) |
| Excess return | (49) | (54) | (60) | (67) | (74) |
| Present value | (46) | (45) | (45) | (44) | (44) |
| Closing book equity | 22,959 | 25,509 | 28,342 | 31,490 | 34,988 |
| Book equity today | 20,664 |
| PV of 5 years of excess return | (224) |
| PV of the terminal excess return, 5% flat | (574) |
| add non-operating investments | 0 |
| Equity value | 19,866 |
| ÷ 83.04 crore shares | ₹239 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹555₹801
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 12.3% | — | 12.54% | 5% | ₹239 | (64.3)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.