Repco Home Finance's 2QFY25 PAT grew 15% YoY to INR1.1b, in line with expectations, driven by healthy growth in other income and provision write-backs. The company's GNPA and NNPA declined, while opex rose 21% YoY. Motilal Oswal cut its FY26/FY27 estimates by 5% each and reiterated a Neutral rating with a revised TP of INR500.