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Bajaj Housing Finance Q2 FY27 PAT Rises 18% YoY to ₹757 Cr; AUM Crosses ₹1.58 Lakh Cr
Bajaj Housing Finance reported an 18% YoY increase in PAT to ₹757 crore for Q2 FY27, up from ₹643 crore in Q2 FY26. Assets Under Management (AUM) grew 25% YoY to reach ₹1,58,205 crore, supported by quarterly disbursements of ₹19,935 crore (up 25% YoY). Asset quality remained robust, with GNPA steady at 0.29% and NNPA at 0.12%. Net Interest Income increased 10% YoY to ₹1,055 crore, while Net Interest Margin moderated slightly to 3.7% from 3.9% a year ago.
Confidence: HIGH
What changedBajaj Housing Finance published its investor presentation detailing Q2 FY27 operating and financial metrics, crossing the ₹1.5 lakh crore AUM benchmark.
Why it mattersDemonstrates continued strong credit growth (25% YoY) and steady asset quality (GNPA at 0.29%) despite slight margin compression in a competitive lending environment.
Q2 FY27 PAT: ₹ 757 CrQ2 FY27 AUM: ₹ 1,58,205 CrDisbursements: ₹ 19,935 CrNet Interest Margin: 3.7%Capital Adequacy Ratio: 21.24%
📅 Short termStable performance with 18% PAT growth and low credit cost (0.10%) should support stock sentiment over the coming days.
📈 Long termStrong execution in scaling AUM toward management targets while keeping credit costs minimal positions the company well for sustained structural growth in prime housing finance.
⚠ Risk flags
- Slight margin compression (NIM down to 3.7% from 3.9% YoY)
- Competitive pricing pressure in prime home loan segment
Key Highlights
AUM increased 25% YoY to ₹1,58,205 crore with disbursements growing 25% YoY to ₹19,935 crore
Profit after tax expanded 18% YoY to ₹757 crore from ₹643 crore in Q2 FY26
Asset quality maintained with GNPA at 0.29% and NNPA at 0.12%
Annualized RoA stood at 2.2% while annualized RoE improved to 12.7%
Capital Adequacy Ratio remained strong at 21.24% with Tier-1 capital at 20.83%
👀 What to Watch
Track the management's commentary on margin pressures and watch if the cost of funds trajectory continues to ease via interest rate swaps in upcoming quarters.
Q2 FY27 PAT Rises 17.7% YoY to ₹756.97 Cr; Total Income at ₹3,251.09 Cr
Bajaj Housing Finance reported a 17.7% YoY growth in Profit After Tax (PAT) to ₹756.97 crore for the quarter ended September 30, 2026, up from ₹642.96 crore in Q2 FY26. Total income for the quarter grew 18.3% YoY to ₹3,251.09 crore compared to ₹2,748.19 crore in the corresponding prior quarter. Finance costs increased 20.4% YoY to ₹1,996.65 crore, while impairment on financial instruments declined to ₹34.78 crore from ₹42.85 crore. For H1 FY27, the company generated net profit of ₹1,472.25 crore on total income of ₹6,314.14 crore.
Confidence: HIGH
What changedBoard approved and published unaudited financial results for Q2 and H1 FY27 along with limited review reports.
Why it mattersDemonstrates sustained earnings and revenue expansion near ~18% YoY despite rising borrowing costs across the housing finance sector.
Q2 FY27 Total Income: ₹3,251.09 crQ2 FY27 PAT: ₹756.97 crQ2 FY26 PAT: ₹642.96 crH1 FY27 PAT: ₹1,472.25 crQ2 FY27 Diluted EPS: ₹0.91
📅 Short termEarnings show healthy double-digit operational growth and controlled asset quality credit costs, which should support sentiment.
📈 Long termConsistent volume growth and disciplined credit underwriting support the company's long-term plan of reaching a 5% incremental market share in home loans.
⚠ Risk flags
- Finance costs increased 20.4% YoY, indicating persistent cost of funds pressure
- Potential spread compression from high competition against commercial banks
Key Highlights
Q2 FY27 PAT grew 17.7% YoY to ₹756.97 crore versus ₹642.96 crore in Q2 FY26
Total revenue from operations rose 18.3% YoY to ₹3,250.57 crore
Net interest and finance costs increased to ₹1,996.65 crore from ₹1,657.96 crore YoY
Provisions/impairment on financial instruments fell 18.8% YoY to ₹34.78 crore
Diluted EPS for the quarter stood at ₹0.91 compared to ₹0.77 a year ago
👀 What to Watch
Track net interest margins (NIM) and credit cost trends in upcoming quarterly presentations to evaluate spread compression in prime home loans.
Bajaj Housing Finance Allots Rs 2,439.29 Cr NCDs at 7.87% Coupon
Bajaj Housing Finance Limited has allotted 2,50,000 secured redeemable Non-Convertible Debentures (NCDs) aggregating to Rs 2,439.2905 crore on a private placement basis. The NCDs carry a coupon rate of 7.87% per annum payable annually, with a residual tenure of 3,589 days maturing on August 4, 2036. The total issue amount represents approximately 10.8% of the company's net worth (Rs 22,523 crore). The proceeds will support lending growth, backed by a 1.00x pari-passu security cover on book debts and loan receivables.
Confidence: HIGH
What changedThe Debenture Allotment Committee allotted Rs 2,439.2905 crore worth of secured NCDs on a private placement basis on October 7, 2026.
Why it mattersSecuring 10-year long-term funding locks in liability costs and supports asset-liability matching for housing loans, matching the company's 21-23% growth target.
Issue size: Rs. 2,439.2905 croreCoupon rate: 7.87% p.a.Tenure: 3,589 days (Residual)Issue size vs Net Worth: ~10.8%Maturity date: 4 August 2036
📅 Short termRoutine liquidity-enhancing borrowing; neutral immediate market impact on equity price as debt issuances are standard business operations for an HFC.
📈 Long termProvides long-term, stable liability funding that supports loan book expansion while managing asset-liability duration mismatches over a 10-year horizon.
⚠ Risk flags
- Basis risk and potential spread compression if asset yields in prime home loans decline relative to fixed borrowing costs.
Key Highlights
Allotment of 2,50,000 NCDs (face value Rs 1,00,000 each) aggregating to Rs 2,439.2905 crore
Coupon rate fixed at 7.87% p.a. with annual interest payments starting August 4, 2027
Instrument maturity set for August 4, 2036, with a residual tenure of 3,589 days
Secured by a 1.00x first pari-passu charge on book debts and loan receivables
Proposed to be listed on the Wholesale Debt Market Segment of BSE Limited
👀 What to Watch
Track the upcoming quarterly earnings to monitor net interest margins (NIM) and see how borrowing costs at ~7.87% influence overall portfolio spreads.
AUM Up 25% YoY to ₹1,58,190 Cr in Q2 FY27; Disbursements Rise 25.2% to ₹19,930 Cr
Bajaj Housing Finance released provisional business updates for Q2 FY27 showing healthy operational momentum. Assets Under Management (AUM) expanded 25% YoY to ₹1,58,190 crore as of September 30, 2026, adding ₹8,566 crore in Q2 alone. Gross disbursements rose 25.2% YoY to ₹19,930 crore compared to ₹15,914 crore in Q2 FY26. Loan assets also grew substantially by 23.7% YoY to ₹1,39,850 crore.
Confidence: HIGH
What changedQuarterly operational update showing provisional growth numbers for disbursements, AUM, and loan assets for the period ended September 30, 2026.
Why it mattersAUM growth of 25% outpaces the company's expected growth band of 21-23%, demonstrating market share gains in home loans despite prime-segment competition.
AUM as of Sep 30, 2026: ₹ 1,58,190 croreGross Disbursement Q2 FY27: ₹ 19,930 croreAUM Growth YoY: 25%Q2 FY27 AUM Addition: ₹ 8,566 croreLoan Assets (AR): ₹ 1,39,850 crore
📅 Short termPositive sentiment driver ahead of the complete quarterly earnings announcement, supporting investor confidence in origination velocity.
📈 Long termValidates the company's multi-channel sourcing strategy and expansion into northern markets to scale towards its target of 5% incremental market share.
⚠ Risk flags
- Margin compression risks in prime home loan segments due to intense banking competition
- Figures are provisional and subject to statutory audit review
Key Highlights
AUM increased by 25% YoY to ₹1,58,190 crore as of 30 September 2026
Q2 FY27 gross disbursements stood at ₹19,930 crore, up 25.2% YoY from ₹15,914 crore
Sequential AUM addition in Q2 FY27 was approximately ₹8,566 crore
Loan assets (AR) reached ₹1,39,850 crore compared to ₹1,13,059 crore as of 30 September 2025
👀 What to Watch
Track the full Q2 FY27 financial results for net interest margins (NIMs), spread compression, and credit costs to confirm whether volume growth translated effectively to bottom-line profitability.
Bajaj Housing Finance raises ₹1,985.65 Cr via NCD allotment at 7.79% coupon
Bajaj Housing Finance Limited has allotted 2,00,000 secured redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating to ₹1,985.6538 crore. The NCDs carry a coupon rate of 7.79% p.a. with an annual interest payment frequency starting August 20, 2027. The instrument has a residual tenure of 1,807 days and matures on August 20, 2031. This routine debt issuance amounts to approximately 8.8% of the company's net worth of ₹22,523 crore.
Confidence: HIGH
What changedThe Debenture Allotment Committee allotted ₹1,985.6538 crore worth of secured NCDs on a private placement basis on September 8, 2026.
Why it mattersProvides medium-to-long term liquidity to fund retail and developer loan book growth while locking in borrowing costs at 7.79%.
Issue size: Rs. 1,985.6538 croreIssue size vs Net Worth: ~8.8%Coupon rate: 7.79% p.a.Maturity date: 20 August 2031Number of NCDs allotted: 2,00,000
📅 Short termNeutral market impact expected as debt issuance is an ordinary part of operations for a housing finance company.
📈 Long termSupports the company's targeted 21-23% portfolio growth by securing stable multi-year funding.
⚠ Risk flags
- Interest rate/spread risk if lending yields decline amid prime housing loan competition
Key Highlights
Allotment of 2,00,000 NCDs aggregating to ₹1,985.6538 crore (including discount and accrued interest)
Face value of ₹1,00,000 each with a coupon rate of 7.79% p.a.
Maturity date set for August 20, 2031 (residual tenure of 1,807 days)
Fully secured with a 1.00x asset cover on book debts and loan receivables
👀 What to Watch
Track the company's overall borrowing costs and asset-liability management (ALM) in upcoming quarterly updates to evaluate spread sustainability.
Rs 753.28 Cr Fundraise via NCD Allotment at 7.53% Coupon
Bajaj Housing Finance Limited (BAJAJHFL) has successfully allotted 75,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 753.28 crore, representing approximately 3.34% of the company's reported net worth of Rs 22,523 crore. These NCDs carry a coupon rate of 7.53% p.a. and have a residual tenure of 1,145 days, maturing in September 2029. This is a routine capital-raising activity for the housing finance company to support its lending operations and growth targets.
Confidence: HIGH
What changedThe company has completed a private placement of debt securities, adding Rs 753.28 crore to its available capital pool.
Why it mattersFor a housing finance company, maintaining a steady pipeline of debt capital at competitive rates (7.53%) is critical for funding loan growth and managing interest rate spreads against its prime segment competitors.
Issue Size: Rs 753.2837 croreCoupon Rate: 7.53% p.a.Fundraise vs Net Worth: ~3.34%Maturity Date: 28 September 2029Security Cover: 1.00x
📅 Short termThe announcement is unlikely to trigger significant price movement as debt issuance is a standard operational procedure for HFCs.
📈 Long termThis fundraise supports the company's long-term strategy to scale its loan book and deepen its presence in 176 locations while maintaining a competitive edge in the prime segment.
⚠ Risk flags
- Interest rate risk if borrowing costs rise relative to fixed-rate assets
- Credit risk associated with the underlying loan receivables used as security
Key Highlights
Allotment of 75,000 NCDs with a face value of Rs 1,00,000 each.
Total issue size of Rs 753.2837 crore including discount and accrued interest.
Fixed coupon rate of 7.53% p.a. with the first interest payment due on September 28, 2026.
Residual tenure of 1,145 days with a final maturity date of September 28, 2029.
Secured by a first pari-passu charge on book debts/loan receivables with 1.00x cover.
👀 What to Watch
Investors should monitor the company's cost of borrowing trends compared to industry peers and track how effectively this capital is deployed to achieve the targeted 5% incremental home loan market share.
Bajaj Housing Q1 FY27: PAT up 23% to ₹715 Cr, AUM reaches ₹1.49 Lakh Cr
Bajaj Housing Finance reported a strong Q1 FY27 with PAT growing 23% YoY to ₹715 Cr. AUM grew 24% YoY to reach ₹1.496 lakh Cr, driven by record quarterly disbursements of ₹19,509 Cr (up 33% YoY). While NIMs compressed slightly by 14 bps to 3.7%, operational efficiency improved with the Opex-to-Net Income ratio falling to 19.6%. Asset quality remains robust with GNPA at 0.29% and credit costs at just 5 bps.
Confidence: HIGH
What changedThe release of the detailed Q1 FY27 earnings transcript provides granular data on product-wise growth and management's outlook on competitive intensity.
Why it mattersThe company is successfully maintaining high growth (24% AUM) and improving operational efficiency while keeping credit costs extremely low (5 bps) despite a competitive mortgage market.
PAT Growth (YoY): 23%Total AUM: ₹1,49,600 CrQuarterly Disbursements: ₹19,509 CrGNPA: 0.29%NIM: 3.7%AUM vs Net Worth: 6.64x
📅 Short termThe stock may see positive sentiment due to record disbursement levels and stable asset quality metrics.
📈 Long termStructural growth remains strong as the company targets doubling its incremental home loan market share to 5% and continues to diversify into higher-yield segments like LRD and Developer Finance.
⚠ Risk flags
- NIM compression due to competitive intensity in the prime segment
- Basis risk between repo-linked liabilities and FRR-linked assets
Key Highlights
Highest ever quarterly AUM growth of ₹8,918 Cr, taking total AUM to ₹1.496 lakh Cr
Disbursements grew 33% YoY to ₹19,509 Cr, representing a record high for the company
Asset quality remains superior with GNPA at 0.29% and NNPA at 0.12%
ROE improved to 12.5% from 11.6% in the previous year's quarter
Sambhav Housing (Affordable segment) monthly disbursement run rate increased to ₹450-465 Cr
👀 What to Watch
Monitor the trajectory of Net Interest Margins (NIMs) as management guides for a 15-20 bps decline for the full year, and track the scale-up of the Sambhav Housing segment towards its ₹600 Cr+ monthly target.
Rs 1,885 Cr NCD Allotment at 7.87% Coupon for 10-Year Tenure
Bajaj Housing Finance Limited (BAJAJHFL) has successfully allotted 1,88,500 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 1,885.09 crore, representing approximately 8.37% of the company's net worth (Rs 22,523 Cr). The NCDs carry a fixed coupon of 7.87% p.a. with a long-term tenure of 10 years, maturing in August 2036. This capital infusion supports the company's stated strategy to increase its incremental home loan market share from ~2.7% to 5%.
Confidence: HIGH
What changedBAJAJHFL has raised Rs 1,885 crore in long-term debt capital through a private placement of NCDs.
Why it mattersFor a housing finance company, securing long-term (10-year) funding at a competitive rate of 7.87% is crucial for managing Asset-Liability Management (ALM) and supporting long-gestation mortgage loans.
Issue Size: Rs 1,885.0945 croreCoupon Rate: 7.87% p.a.Tenure: 3,653 daysFundraise vs Net Worth: ~8.37%Maturity Date: 4 August 2036
📅 Short termThe announcement is unlikely to trigger significant price movement as debt issuance is a routine operational activity for large HFCs.
📈 Long termStructurally positive as it strengthens the balance sheet with long-term fixed-rate liabilities, providing stability against potential interest rate volatility in the mortgage market.
⚠ Risk flags
- Interest rate risk if market rates decline (fixed coupon)
- Credit risk of underlying loan receivables used as security
Key Highlights
Allotted 1,88,500 NCDs at a face value of Rs 1,00,000 each, totaling Rs 1,885.0945 crore.
Fixed coupon rate of 7.87% p.a. with annual interest payments starting August 4, 2027.
Long-term tenure of 3,653 days (10 years) with maturity scheduled for August 4, 2036.
Secured by a first pari-passu charge on book debts/loan receivables with a 1.00x security cover.
👀 What to Watch
Investors should monitor the company's upcoming quarterly results to see how this long-term capital deployment impacts Net Interest Margins (NIMs), especially given management's guidance of a 15-20 bps margin decline due to competitive intensity.
Bajaj Housing Finance Appoints Vivek Adhav as Chief of Credit – Wholesale Lending
Bajaj Housing Finance Limited (BHFL) has appointed Vivek Adhav as Chief, Credit – Wholesale Lending, effective August 1, 2026. Adhav joins with 21 years of experience from Axis Bank, where he led corporate credit and commercial real estate financing. This appointment is strategically significant as BHFL aims to deepen its Developer Financing (DF) and Lease Rental Discounting (LRD) portfolios to enhance overall returns. With a net worth of ₹22,523 Cr, the company is positioning itself to scale its wholesale book while maintaining credit discipline.
Confidence: HIGH
What changedAddition of Vivek Adhav to the Senior Management Personnel (SMP) team to lead Credit for Wholesale Lending.
Why it mattersWholesale and developer financing are critical for BHFL's strategy to improve margins and reach its 21-23% growth target; hiring a 21-year veteran from a major private bank strengthens credit oversight in these high-ticket segments.
Effective Date: 1 August 2026Experience at Axis Bank: 21 yearsNet Worth: ₹22,523 CrTarget Market Share: 5%Opex to NTI Target: 14-15%
📅 Short termThe appointment is likely to be viewed positively by the market as it fills a critical leadership role with a seasoned professional, though immediate stock impact may be limited.
📈 Long termStrengthens the company's ability to scale its wholesale lending business, which is essential for achieving its long-term growth and margin optimization targets.
⚠ Risk flags
- Execution risk in scaling the wholesale/developer financing book
- Potential for higher credit costs in the developer segment compared to retail home loans
Key Highlights
Appointment of Vivek Adhav as Chief, Credit – Wholesale Lending effective 1 August 2026
Adhav brings 21 years of leadership experience from Axis Bank in corporate and wholesale credit
Strategic focus on increasing incremental home loan market share from ~2.7% to 5%
Targeting 2-3% product mix movements between Home Loans, LRD, and Developer Financing
Company net worth stands at ₹22,523 Cr as of the latest reporting period
👀 What to Watch
Watch for the growth trajectory and asset quality of the Developer Financing and Wholesale segments in upcoming quarterly results to assess the impact of new leadership.
23% PAT Growth: Bajaj Housing Finance AUM Hits Rs 1.49 Lakh Cr in Q1 FY27
Bajaj Housing Finance reported a robust Q1 FY27 with Profit After Tax (PAT) rising 23% YoY to Rs 715 Cr. Assets Under Management (AUM) grew 24% YoY to reach Rs 1,49,624 Cr, supported by record quarterly disbursements of Rs 19,509 Cr. While asset quality remains superior with GNPA at 0.29%, Net Interest Margins (NIM) saw a sequential compression of 14 bps to 3.7%. The company maintains a strong capital position with a CRAR of 21.59% and improved operational efficiency as Opex to NTI fell to 19.6%.
Confidence: HIGH
What changedThe company reported its first-quarter results for FY27, showing continued high-growth momentum in disbursements and AUM following its 2024 listing.
Why it mattersThe results demonstrate the company's ability to scale its balance sheet toward the Rs 1.5 lakh crore mark while maintaining industry-leading asset quality and operational efficiency.
AUM: Rs 1,49,624 CrPAT (Q1 FY27): Rs 715 CrDisbursement Growth: 33% YoYNet Interest Margin (NIM): 3.7%PAT vs Net Worth: ~3.1%Capital Adequacy (CRAR): 21.59%
📅 Short termThe stock may see positive sentiment driven by record disbursement levels and strong AUM growth, despite minor margin pressure.
📈 Long termThe company is structurally well-positioned with a 29% AUM CAGR (FY21-FY26) and is successfully diversifying into Lease Rental Discounting and Affordable Housing.
⚠ Risk flags
- Sequential NIM compression of 14 bps
- Competitive intensity in the prime home loan segment
- Potential yield pressure from product mix shifts
Key Highlights
Assets Under Management (AUM) grew 24% YoY to Rs 1,49,624 Cr as of June 30, 2026.
Highest ever quarterly disbursements achieved at Rs 19,509 Cr, representing 33% YoY growth.
Profit After Tax (PAT) increased 23% YoY to Rs 715 Cr from Rs 583 Cr in Q1 FY26.
Gross NPA and Net NPA remained resilient at 0.29% and 0.12% respectively.
Opex to Net Total Income (NTI) improved to 19.6% compared to 21.2% in the same quarter last year.
👀 What to Watch
Investors should monitor the impact of NIM compression (down 14 bps QoQ) on overall profitability and the execution of the newly launched affordable housing segment.
₹715 Cr PAT; Bajaj Housing Finance reports 22.6% YoY profit growth in Q1 FY27
Bajaj Housing Finance reported a strong start to FY27 with a 22.6% YoY increase in Net Profit to ₹715.28 crore. Total revenue from operations grew 17.2% YoY to ₹3,063.02 crore, primarily driven by interest income of ₹2,856.07 crore. A significant positive was the 57.8% reduction in impairment costs on financial instruments, which fell to ₹16.10 crore. The company also demonstrated aggressive liability management, raising ₹8,455 crore through Non-Convertible Debentures (NCDs) during the quarter.
Confidence: HIGH
What changedThe company has reported its Q1 FY27 financial results, showing sustained double-digit growth in profit and revenue while significantly lowering credit costs.
Why it mattersThe results confirm the company's ability to maintain growth momentum in a competitive housing finance market while keeping asset quality risks (impairments) under control.
Profit After Tax (Q1 FY27): ₹715.28 CrRevenue from Operations: ₹3,063.02 CrImpairment Costs: ₹16.10 CrNCD Funds Raised: ₹8,455 CrNCD Raise vs Net Worth: ~37.5%
📅 Short termThe stock is likely to react positively to the 22.6% profit growth and the sharp decline in impairment provisions.
📈 Long termThe company remains structurally well-positioned to capture market share in the prime housing segment, supported by its strong parentage and digital-first operational strategy.
⚠ Risk flags
- Rising finance costs which could pressure spreads
- Competitive intensity in the prime home loan segment
Key Highlights
Net Profit after tax rose to ₹715.28 crore in Q1 FY27 from ₹583.30 crore in Q1 FY26.
Total Revenue from operations increased 17.2% YoY to ₹3,063.02 crore.
Impairment on financial instruments significantly improved, dropping to ₹16.10 crore from ₹38.21 crore YoY.
Raised ₹8,455 crore via private placement of NCDs, representing ~37.5% of its net worth.
Finance costs increased by 17.6% YoY to ₹1,888.49 crore, tracking the growth in borrowings.
👀 What to Watch
Investors should monitor the trajectory of Net Interest Margins (NIMs) as finance costs rise, and track the company's progress toward its 5% incremental market share target in home loans.
Rs 1,501 Cr NCD Allotment at 7.53% Coupon for 1,179 Days
Bajaj Housing Finance Limited (BAJAJHFL) has successfully allotted 1,50,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 1,501.0655 crore, which represents approximately 6.66% of the company's reported net worth of Rs 22,523 crore. The NCDs carry a fixed coupon of 7.53% p.a. and have a tenure of 1,179 days, with maturity scheduled for September 28, 2029. This capital infusion is aligned with the company's strategy to scale its loan book and increase its incremental home loan market share to 5%.
Confidence: HIGH
What changedThe company has raised Rs 1,501 crore in fresh debt capital through the private placement of NCDs.
Why it mattersFor a housing finance company, regular debt raises are essential to fuel loan disbursements; this specific raise locks in medium-term funding at a fixed rate to support its expansion into prime home loans and developer financing.
Issue Size: Rs 1,501.0655 croreCoupon Rate: 7.53% p.a.Tenure: 1,179 daysFundraise vs Net Worth: ~6.66%Maturity Date: 28 September 2029
📅 Short termNeutral. The fundraise is a routine operational activity for a large HFC and is unlikely to trigger significant immediate price movement.
📈 Long termPositive. Consistent access to the debt market at competitive rates (7.53%) supports the company's long-term goal of scaling its AUM and improving operational efficiency.
⚠ Risk flags
- Interest rate risk (fixed coupon)
- Asset-Liability Management (ALM) matching
Key Highlights
Total issue size of Rs 1,501.0655 crore including premium
Fixed coupon rate of 7.53% p.a. with annual interest payments starting September 2026
Tenure of 1,179 days with final maturity on 28 September 2029
Secured by a first pari-passu charge on book debts/loan receivables with 1.00x cover
Allotment completed on 7 July 2026 via the Debenture Allotment Committee
👀 What to Watch
Investors should monitor the company's Net Interest Margin (NIM) in upcoming quarters to see how this 7.53% borrowing cost compares to their lending yields, especially as they target 21-23% growth.
₹18,152 Cr Related Party Transaction limit proposed in 18th AGM Notice
Bajaj Housing Finance has scheduled its 18th Annual General Meeting (AGM) for July 29, 2026. A key resolution includes seeking shareholder approval for Material Related Party Transactions with parent company Bajaj Finance Limited (BFL) for an aggregate amount not exceeding ₹18,152 crore. This proposed limit represents approximately 80.6% of the company's current net worth of ₹22,523 crore. The company also seeks a special resolution to issue Non-Convertible Debentures (NCDs) through private placement within its overall borrowing limits.
Confidence: HIGH
What changedThe company has released its FY2026 Annual Report and set the agenda for its 18th AGM, including specific financial thresholds for inter-company dealings and debt fundraising.
Why it mattersThe high volume of proposed related-party transactions (₹18,152 crore) underscores the company's heavy reliance on and integration with Bajaj Finance Limited for its business operations and liquidity management.
RPT Limit with Bajaj Finance: ₹18,152 croreRPT vs Net Worth: ~80.6%AGM Date: 29 July 2026Tech Capex (FY26): 35%Net Worth: ₹22,523 Cr
📅 Short termThe announcement is procedural and unlikely to trigger significant price movement in the next few weeks, as these are standard enabling resolutions for a subsidiary.
📈 Long termThe continued synergy with Bajaj Finance and the ability to raise debt via NCDs are structural pillars for the company to achieve its 21-23% growth guidance.
⚠ Risk flags
- High related-party transaction volume (₹18,152 crore)
- Significant dependency on parent company for business sourcing and funding
Key Highlights
Proposed Material Related Party Transactions with Bajaj Finance Ltd capped at ₹18,152 crore for the upcoming year
18th AGM scheduled for July 29, 2026, to be held via Video Conferencing
Capex investment in technology for environmental and social impact recorded at 35% for FY2026
Special resolution proposed for the issuance of NCDs on a private placement basis for one year
Re-appointment of Rajeev Jain as a Director who retires by rotation
👀 What to Watch
Investors should monitor the voting results of the AGM on July 29, 2026, to confirm the approval of the RPT limits and NCD issuance authority, which are critical for the company's funding and operational synergy with its parent.
₹18,152 Cr Related Party Transaction and NCD Issuance Proposed in Bajaj Housing AGM
Bajaj Housing Finance Limited (BHFL) has convened its 18th Annual General Meeting (AGM) for July 29, 2026. The company is seeking shareholder approval for a massive material related party transaction (RPT) with its parent, Bajaj Finance Limited (BFL), totaling up to ₹18,152 crore for the upcoming year. Additionally, a special resolution is proposed to authorize the issuance of Non-Convertible Debentures (NCDs) via private placement to support its lending operations. The proposed RPT limit is significant, representing approximately 80.6% of the company's reported net worth of ₹22,523 crore.
Confidence: HIGH
What changedThe company has formally proposed its annual fundraising limits and inter-company transaction caps for the new financial year.
Why it mattersThe ₹18,152 crore RPT limit underscores the heavy operational reliance and financial synergy between the housing unit and its parent, Bajaj Finance. The NCD authorization is a routine but essential enabling resolution for a housing finance company to maintain its growth trajectory.
Proposed RPT with Bajaj Finance: ₹18,152 croreRPT vs Net Worth: 80.6%Net Worth: ₹22,523 CrAGM Date: 29 July 2026FY2026 Tech Capex %: 35%
📅 Short termThe announcement is procedural and likely to have a neutral impact on the stock price in the coming weeks as these resolutions are standard for large NBFCs.
📈 Long termThe large RPT limit confirms the structural integration within the Bajaj ecosystem, which provides BHFL with a competitive advantage in sourcing and operational efficiency.
⚠ Risk flags
- High volume of related-party transactions (₹18,152 crore) relative to net worth
Key Highlights
Proposed material related party transactions with Bajaj Finance Limited capped at ₹18,152 crore for the RPT period.
Special resolution sought for the issuance of Non-Convertible Debentures (NCDs) on a private placement basis for one year.
18th Annual General Meeting scheduled for July 29, 2026, at 3:45 p.m. IST via video conferencing.
Reported technology-related capex for environmental/social impact at 35% of total capex for FY2026.
Re-appointment of Rajeev Jain as a Director, who is retiring by rotation.
👀 What to Watch
Investors should monitor the voting results of the AGM on July 29, 2026, to ensure approval of the fundraising and RPT mandates, which are critical for the company's operational liquidity and group synergy.
24% AUM Growth to ₹1,49,610 Cr in Q1 FY27; Disbursements up 33% YoY
Bajaj Housing Finance reported a strong start to FY27 with gross disbursements reaching approximately ₹19,500 crore, a 33% increase compared to Q1 FY26. Assets Under Management (AUM) grew 24% YoY to approximately ₹1,49,610 crore, slightly exceeding the company's long-term growth guidance of 21-23%. The company added approximately ₹8,904 crore to its AUM in the single quarter ending June 2026. Loan assets also showed robust growth, standing at ₹1,31,150 crore compared to ₹1,05,954 crore a year ago.
Confidence: HIGH
What changedThe company has released its provisional operational update for Q1 FY27, showing accelerating disbursement momentum and AUM growth that exceeds its stated long-term targets.
Why it mattersStrong disbursement growth is the primary driver for AUM expansion and future interest income. Achieving 24% AUM growth in a competitive environment validates the company's strategy to increase market share in the prime home loan segment.
Gross Disbursement (Q1 FY27): ₹19,500 croreAUM (June 30, 2026): ₹1,49,610 croreAUM Growth (YoY): 24%Loan Assets (AR): ₹1,31,150 croreAUM vs Net Worth: 6.64x
📅 Short termThe stock is likely to react positively to the strong disbursement and AUM growth figures, which indicate robust demand and execution.
📈 Long termThe company's ability to maintain >20% AUM growth while scaling its Approved Project Finance network supports its long-term goal of reaching a 5% market share in incremental home loans.
⚠ Risk flags
- Potential margin compression due to competitive pricing in the prime segment
- Basis risk between repo-linked liabilities and FRR-linked assets
Key Highlights
Gross disbursements grew 33% YoY to approximately ₹19,500 crore in Q1 FY27
Assets Under Management (AUM) increased by 24% YoY to ₹1,49,610 crore as of June 30, 2026
Sequential disbursement growth of 11.4% compared to ₹17,506 crore in Q4 FY26
Loan Assets (AR) grew by approximately 23.8% YoY to ₹1,31,150 crore
Incremental AUM growth for the quarter stood at approximately ₹8,904 crore
👀 What to Watch
Investors should monitor the upcoming full Q1 FY27 results to assess if this strong disbursement growth has impacted Net Interest Margins (NIMs), given management's previous guidance of a 15-20 bps margin compression.
24% AUM Growth to ₹1,49,610 Cr: Bajaj Housing Finance Q1 FY27 Business Update
Bajaj Housing Finance reported a robust 24% YoY growth in Assets Under Management (AUM), reaching ₹1,49,610 crore as of June 30, 2026. Gross disbursements for Q1 FY27 stood at approximately ₹19,500 crore, an 11.4% increase compared to ₹17,506 crore in the same period last year. The company added approximately ₹8,904 crore to its AUM during the single quarter. Loan Assets (AR) also grew significantly to ₹1,31,150 crore from ₹1,05,954 crore YoY, indicating sustained credit demand in the housing sector.
Confidence: HIGH
What changedThe company has provided its provisional operational update for Q1 FY27, showing continued double-digit growth in disbursements and AUM.
Why it mattersThe 24% AUM growth is at the upper end of management's 21-23% guidance, suggesting the company is successfully gaining market share despite high competitive intensity in the prime housing segment.
AUM (June 2026): ₹1,49,610 croreAUM Growth (YoY): 24%Gross Disbursement (Q1 FY27): ₹19,500 croreLoan Assets (AR): ₹1,31,150 croreAUM to Net Worth Ratio: 6.64x
📅 Short termThe stock may react positively to the strong AUM growth figures, which confirm that the company's growth momentum remains intact at the start of the new fiscal year.
📈 Long termThe company is consistently executing its strategy to increase incremental home loan market share toward 5%. Sustained 20%+ AUM growth is structurally positive for long-term valuation.
⚠ Risk flags
- Potential margin compression due to competitive pricing in the prime segment
- Basis risk between repo-linked liabilities and FRR-linked assets
Key Highlights
Assets Under Management (AUM) grew 24% YoY to ₹1,49,610 crore.
Gross disbursements for Q1 FY27 increased to ₹19,500 crore from ₹17,506 crore in Q1 FY26.
Loan Assets (AR) reached ₹1,31,150 crore as of June 30, 2026.
Incremental AUM growth for the quarter (Q1 FY27) was approximately ₹8,904 crore.
👀 What to Watch
Watch for the full Q1 FY27 results to see if the 24% AUM growth translates to bottom-line growth, specifically monitoring if Net Interest Margins (NIMs) remained stable despite management's earlier guidance of a 15-20 bps decline.
Rs 2,500.85 Cr Fundraise via NCDs at 7.64% Coupon
Bajaj Housing Finance has successfully allotted Secured Redeemable Non-Convertible Debentures (NCDs) worth Rs 2,500.85 crore on a private placement basis. The instruments carry a competitive coupon rate of 7.64% p.a. with a 4-year tenure maturing in July 2030. This fundraise is significant, representing approximately 11.1% of the company's net worth (Rs 22,523 Cr). The capital infusion supports the company's aggressive growth strategy to increase its incremental home loan market share from ~2.7% to 5%.
Confidence: HIGH
What changedBajaj Housing Finance has secured Rs 2,500.85 crore in long-term debt capital through a private placement of NCDs.
Why it mattersFor a housing finance company, consistent access to low-cost debt is critical for maintaining spreads; this raise provides the liquidity needed to sustain its 21-23% expected growth rate.
Issue Size: Rs 2,500.8458 croreCoupon Rate: 7.64% p.a.Fundraise vs Net Worth: ~11.1%Fundraise vs TTM Revenue: ~23.2%Maturity Date: 1 July 2030
📅 Short termThe successful placement at a sub-8% rate reflects strong institutional confidence in the company's credit profile, likely supporting the stock price in the near term.
📈 Long termThis fundraise is a standard but essential part of the company's scaling strategy to deepen its presence in 176 locations and expand into non-prime segments.
⚠ Risk flags
- Interest rate risk if the repo rate environment shifts significantly
- Asset-liability mismatch if loan tenures exceed debt maturity
Key Highlights
Allotment of 2,50,000 NCDs with a face value of Rs 1,00,000 each, totaling Rs 2,500.85 crore.
Fixed coupon rate of 7.64% p.a. to be paid annually, with the first payment due on July 1, 2027.
Specific tenure of 1,461 days with a final maturity and principal repayment date of July 1, 2030.
Issue is secured by a first pari-passu charge on book debts/loan receivables with a 1.00x security cover.
👀 What to Watch
Investors should monitor the company's Net Interest Margin (NIM) in upcoming quarters to see if this borrowing rate helps offset the guided 15-20 bps margin compression.
Bajaj Housing Finance Raises Rs 2,034.68 Crore via NCD Allotment at 8.25% Coupon
Bajaj Housing Finance Limited has successfully allotted 2,00,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 2,034.68 crore, including premium and accrued interest, with a face value of Rs 1,00,000 per unit. These NCDs carry a coupon rate of 8.25% per annum and are scheduled for maturity on May 27, 2031. This capital infusion will likely strengthen the company's balance sheet and support its ongoing lending operations in the housing finance sector.
Key Highlights
Total issue size of Rs 2,034.6788 crore through private placement of 2,00,000 NCDs
Fixed coupon rate of 8.25% p.a. with annual interest payments starting May 2027
Residual tenure of 1,810 days with final maturity and principal repayment on May 27, 2031
Secured by a first pari-passu charge on book debts and loan receivables with 1.00x security cover
NCDs to be listed on the Wholesale Debt Market Segment of BSE Limited
👀 What to Watch
Investors should view this as a positive liquidity-enhancing move that supports the company's growth trajectory. The competitive coupon rate reflects the market's confidence in the Bajaj Group's credit profile.
Bajaj Housing Finance Allots NCDs Worth Rs 1,991.83 Crore at 7.83% Coupon
Bajaj Housing Finance Limited has successfully allotted 2,00,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total capital raised aggregates to Rs 1,991.8320 crore, including discount and accrued interest. These NCDs carry a coupon rate of 7.83% per annum and are set to mature on May 18, 2029, with a residual tenure of 1078 days. The issue is secured by a first pari-passu charge on the company's book debts and loan receivables.
Key Highlights
Total issue size of Rs 1,991.8320 crore through the allotment of 2,00,000 NCDs.
Fixed coupon rate of 7.83% p.a. with annual interest payments starting May 18, 2027.
The NCDs have a residual tenure of 1078 days with a final maturity date of May 18, 2029.
Secured by a first pari-passu charge on book debts/loan receivables with a 1.00x security cover.
The securities are a re-issue under ISIN INE377Y07649 and will be listed on the BSE Wholesale Debt Market.
👀 What to Watch
Investors should note this as a positive liquidity-enhancing move that supports the company's lending growth. No immediate action is required as this is a debt market transaction, but it reinforces the company's strong credit profile and ability to raise low-cost capital.
Bajaj Housing Finance Raises Rs 2,000.67 Crore via Private Placement of NCDs
Bajaj Housing Finance Limited has successfully allotted 2,00,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 2,000.6723 crore with a face value of Rs 1,00,000 per debenture. These instruments carry a coupon rate of 8.25% per annum and have a tenure of 1,826 days, maturing on May 27, 2031. This capital infusion will likely be utilized to support the company's lending growth and manage its liquidity profile.
Key Highlights
Total issue size of Rs 2,000.6723 crore through 2,00,000 NCDs
Fixed coupon rate of 8.25% p.a. with annual interest payment frequency
Tenure of 1,826 days (approx. 5 years) with maturity set for May 27, 2031
Secured by a first pari-passu charge on book debts and loan receivables with 1.0x cover
👀 What to Watch
Investors should monitor the company's ability to deploy this capital into high-quality housing loan assets while maintaining healthy net interest margins. The 8.25% coupon reflects the company's strong credit profile in the current interest rate environment.
