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Bajaj Housing Finance Limited (BAJAJHFL)

₹83.36 -0.50% last close, 16 Oct

📊 NSE: BAJAJHFL 🏢 Finance - Housing 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

Bajaj Housing Finance Limited reported Q2 FY27 results on 16 Oct 2026: net interest income ₹1,254 Cr (+31.1% year on year, +6.8% on the previous quarter), and net profit ₹757 Cr (+17.7% year on year).

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Net interest income	₹1,254	+31.1%	+6.8%
Operating profit	₹980	+11.0%	+5.5%
Net profit	₹757	+17.7%	+5.8%
EPS (₹)	0.91	+18.2%	+5.8%

Against its own trend: net profit of ₹757 Cr was -1.5% against the ₹769 Cr its recent growth pointed to (in line). This is a statistical baseline, not an analyst estimate.

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

BAJAJHFL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 42.48% of the BAJAJHFL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 52.33%. That is lower than usual for this stock.

42.48%Delivery, 16 Oct

52.33%Own 20-session average

0.6×Volume vs its average

₹83.36NSE close · -0.50%

Delivery in the last 5 sessions: 46.4% · 56.7% · 60.0% · 37.3% · 42.5%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Bajaj Housing Finance Q2 FY27 PAT Rises 18% YoY to ₹757 Cr; AUM Crosses ₹1.58 Lakh Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 16 Oct 2026, 04:18 PM

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.

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%

💡 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

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 16 Oct 2026, 03:53 PM

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.

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

💡 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

🟡 NEUTRAL ⭐ 6/10

FUNDRAISE 📅 07 Oct 2026, 01:01 PM

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.

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

💡 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

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 03 Oct 2026, 10:42 AM

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.

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

💡 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 Allots NCDs Worth ₹807.82 Cr at 7.79% Coupon

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 25 Sep 2026, 12:19 PM

Bajaj Housing Finance Limited has allotted 81,500 secured redeemable Non-Convertible Debentures (NCDs) aggregating to ₹807.8233 crore on a private placement basis. The debt instruments carry a coupon rate of 7.79% per annum payable annually, with the first coupon due on August 20, 2027. The debentures feature a residual tenure of 1,790 days and mature on August 20, 2031. Compared to the company's net worth of ₹22,523 crore, this debt issuance represents ~3.6% of net worth and constitutes routine borrowing for a housing finance company.

Allotted 81,500 NCDs aggregating to ₹807.8233 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, with a residual tenure of 1,790 days
Secured by a first pari-passu charge on book debts/loan receivables with a 1.00x cover

💡 Monitor the company's overall borrowing costs and net interest margins (NIMs) in upcoming quarterly earnings to assess spread stability amid competitive pressures.

Bajaj Housing Finance Assigned Independent ESG Rating of 71.44 by Niche Ninety Nine

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 18 Sep 2026, 12:28 PM

Bajaj Housing Finance Limited informed the exchanges that Niche Ninety Nine Capability and Certifications (OPC) Private Limited has assigned the company an ESG Rating of 71.44. The assessment was independently prepared using publicly available domain data, without the company engaging the rating agency. The intimation was made pursuant to Regulation 30 following communication received via BSE on September 17, 2026.

Assigned an ESG Rating of 71.44 by Niche Ninety Nine Capability and Certifications (OPC) Private Limited
Company confirmed it did not engage the agency for this unsolicited rating
Rating communication received via BSE email on 17 September 2026 at 6:49 p.m.
Disclosure submitted pursuant to SEBI Master Circular dated 30 January 2026

💡 Track subsequent regulatory and ESG-related disclosures, but recognize this unsolicited third-party rating does not impact core lending operations or earnings.

Bajaj Housing Finance Allots NCDs Worth ₹495.53 Cr at 7.87% Coupon

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 18 Sep 2026, 12:22 PM

Bajaj Housing Finance has allotted 50,000 secured redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating to ₹495.5344 crore. The instruments carry a coupon of 7.87% p.a. with an annual payout schedule and mature on August 4, 2036 (residual tenure of 3,608 days). The issue represents roughly 2.2% of the company's net worth of ₹22,523 crore. The funds support ongoing lending operations across its retail and developer financing portfolios.

Issue size aggregates to ₹495.5344 crore across 50,000 NCDs (face value ₹1,00,000 each)
Offers a coupon rate of 7.87% p.a. payable annually, with the first payment due on 4 August 2027
Maturity date set for 4 August 2036 with a residual tenure of 3,608 days
Secured by a first pari-passu charge on book debts/loan receivables with a minimum 1.00x asset cover

💡 Track the company's cost of borrowings and net interest margins in upcoming quarterly reports to see how long-term debt issuances impact spreads.

Bajaj Housing Finance raises ₹1,985.65 Cr via NCD allotment at 7.79% coupon

🟡 NEUTRAL ⭐ 5/10

FUNDRAISE 📅 08 Sep 2026, 01:03 PM

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.

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

💡 Track the company's overall borrowing costs and asset-liability management (ALM) in upcoming quarterly updates to evaluate spread sustainability.

Bajaj Housing Finance Assigned Independent ESG Rating of 73 by NSE Sustainability

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 06:24 PM

Bajaj Housing Finance Limited has been assigned an ESG Rating of '73' by NSE Sustainability Ratings and Analytics Limited. The assessment was independently prepared based on publicly available data, without the company engaging the rating agency. The notification was received on 3 September 2026 pursuant to SEBI Listing Regulations.

Assigned an ESG Rating of 73 by NSE Sustainability Ratings and Analytics Limited
Rating was independently prepared based on public domain data without company engagement
Intimation received via email on 3 September 2026 at 10:40 a.m.

💡 Track core operating metrics such as loan disbursement growth and net interest margins, as this unsolicited ESG rating has no direct impact on financial performance.

Bajaj Housing Finance Shifts Registered Office to Viman Nagar, Pune Effective 1 Sep 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 03:11 PM

Bajaj Housing Finance Limited has shifted its registered office with effect from 1 September 2026. The new address is 4th Floor, Bajaj Finserv House, Off Pune-Ahmednagar Road, Viman Nagar, Pune 411014, moving from its previous location at Akurdi, Pune 411035. The jurisdiction of the Registrar of Companies (ROC Pune) remains unchanged. This is a purely administrative relocation with zero impact on operations or financials.

Registered office shifted with effect from 1 September 2026
Old address: Bajaj Auto Limited Complex, Mumbai–Pune Road, Akurdi, Pune 411035
New address: 4th Floor, Bajaj Finserv House, Off Pune – Ahmednagar Road, Viman Nagar, Pune - 411014
No change in the jurisdiction of Registrar of Companies (ROC Pune)

💡 Update corporate communication and secretarial correspondence records with the new registered office address. No action is required regarding investment holdings.

Bajaj Housing Finance Allots ₹750 Cr Secured NCDs at 7.79% Coupon

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 20 Aug 2026, 11:30 AM

Bajaj Housing Finance Limited has allotted 75,000 secured redeemable Non-Convertible Debentures (NCDs) of face value ₹1,00,000 each, raising ₹750 crore on a private placement basis. The debentures carry an annual coupon rate of 7.79% p.a. with a 5-year tenure (1,826 days) maturing on 20 August 2031. The NCDs are secured by a 1.00x first pari-passu charge on book debts and loan receivables, and will be listed on BSE's Wholesale Debt Market segment.

Issue size of ₹750 crore via private placement of 75,000 NCDs (face value ₹1,00,000 each)
Coupon rate fixed at 7.79% p.a., payable annually and on maturity
Tenure of 1,826 days with maturity date set for 20 August 2031
Secured by a first pari-passu charge on loan receivables with 1.00x asset cover

💡 Track overall borrowing costs and Net Interest Margin (NIM) trends in subsequent quarterly disclosures to assess asset-liability management efficiency.

Bajaj Housing Finance Schedules Institutional Investor Meetings in Singapore and Hong Kong

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 05:31 PM

Bajaj Housing Finance Limited has scheduled physical meetings with a group of institutional investors in Singapore and Hong Kong between August 24 and August 26, 2026. The company stated that discussions will be confined strictly to publicly available information. This is a routine institutional interaction intimation under SEBI Listing Regulations.

Institutional investor group meetings scheduled in Singapore on August 24 and August 25, 2026
Hong Kong group meeting scheduled for Wednesday, August 26, 2026
All interactions will be held physically and limited to publicly available information

💡 Track if any post-meet presentations or disclosures are submitted to the stock exchanges following the investor roadshows.

Bajaj Housing Finance Guides FY27 AUM Growth at 21-23% and ROA of 2.1-2.3% in Investor Update

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 18 Aug 2026, 02:57 PM

Bajaj Housing Finance Limited released its updated Corporate Investor Presentation outlining FY26 performance milestones and its outlook for FY27. For FY27, management guides AUM growth of 21-23%, ROA of 2.1-2.3%, and ROE of 12-13%, alongside an opex-to-NTI ratio of 19-20%. However, net interest margin (NIM) is expected to moderate by 20-25 bps due to stable rates and intense competitive pressure from banks. Asset quality is targeted to remain strong with GNPA between 30-35 bps and credit costs contained within 10-15 bps.

FY27 AUM growth guided at 21-23%, following FY26 AUM of ₹1,40,706 Cr (29% 5-year CAGR)
NIM expected to moderate by 20-25 bps in FY27 amid heightened banking competition
Asset quality guidance: GNPA target of 30-35 bps with credit cost between 10-15 bps for FY27
Return profile projected at ROA of 2.1-2.3% and ROE of 12-13% with leverage at 5.8-6.3 times
Portfolio composition as of June 2026: Home Loans 54.1%, LRD 23.1%, Developer Finance 11.4%, LAP 10.3%

💡 Track upcoming quarterly results to verify whether incremental AUM growth stays within the guided 21-23% range and monitor how effectively NIM compression is contained within the guided 20-25 bps corridor.

Bajaj Housing Finance to Attend Institutional Investor Meeting on August 20, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Aug 2026, 03:27 PM

Bajaj Housing Finance Limited has scheduled group meetings with institutional investors and funds on Thursday, August 20, 2026. The meetings will take place in person in Pune, Maharashtra, as part of 'Bajaj Finserv Leadership Day 2026'. The company confirmed that all discussions will be limited strictly to publicly available information.

Investor meeting scheduled for Thursday, 20 August 2026
Format: In-person group meetings with institutional investors and funds
Event: 'Bajaj Finserv Leadership Day 2026' in Pune, Maharashtra
Discussions will pertain to publicly available information only

💡 Monitor stock exchange filings around August 20, 2026, for any investor presentation or post-meet transcripts submitted by the company.

Bajaj Housing Finance Assigned 'Strong' ESG Rating of 69 by CRISIL

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 11 Aug 2026, 12:19 PM

Bajaj Housing Finance Limited (BAJAJHFL) has been assigned an ESG rating of 'Crisil ESG 69' by CRISIL ESG Ratings & Analytics Limited, placing it in the 'Strong' category. Notably, this was an independent assessment by CRISIL based on public data and was not commissioned by the company. While this does not impact immediate financial performance, it establishes a benchmark for the company's Environmental, Social, and Governance practices. For a company with a net worth of Rs 22,523 Cr, such ratings are increasingly relevant for institutional investor interest and potential access to green financing.

Assigned an ESG score of 69 by CRISIL ESG Ratings & Analytics Limited
Categorized under the 'Strong' assessment tier for ESG performance
Rating was independently prepared by CRISIL using data available in the public domain
Notification of the rating was received via BSE on August 10, 2026, at 10:15 p.m.

💡 Investors should view this as a qualitative benchmark; watch for any future 'Green Bond' issuances or ESG-linked credit facilities that might offer lower borrowing costs due to this 'Strong' rating.

View All BAJAJHFL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Assets Under Management (AUM) grew 26% YoY to INR 1,14,684 Cr in FY2025. Segment-wise AUM growth in Q2 FY2026 was: Home Loans (HL) 19%, Loan Against Property (LAP) 29%, Lease Rental Discounting (LRD) 35%, and Developer Financing (DF) 25%.

Geographic Revenue Split

The company operates across 176 locations with a network of 220 branches. Expansion is focused on deepening presence in existing markets and emerging ones, with NCR and Northern India locations becoming operational in FY2025.

Profitability Margins

Net Interest Income (NII) grew 20% to INR 3,007 Cr in FY2025. Profit After Tax (PAT) rose 25% to INR 2,163 Cr in FY2025 and grew 19% in H1 FY2026. Annualized Return on Assets (ROA) stood at 2.3% and Return on Equity (ROE) at 12.2% as of Q2 FY2026.

EBITDA Margin

Pre-impairment operating profit grew 28% to INR 2,850 Cr in FY2025. Operating efficiency improved as Opex to Net Total Income (NTI) ratio decreased from 24.0% in FY2024 to 20.8% in FY2025, and further to 19.6% in Q2 FY2026.

Capital Expenditure

Not disclosed in available documents; however, the company maintains a healthy Capital Adequacy Ratio (CAR) of 26.12% as of Q2 FY2026 to support growth.

Credit Rating & Borrowing

The company maintains the highest possible credit rating (CRISIL AAA). Cost of Funds (CoF) dropped by 50 bps YoY to 7.4% in Q2 FY2026, while portfolio yield moderated to 9.3%.

⚙️ Operational Drivers

Raw Materials

Debt capital is the primary 'raw material', consisting of NCDs, Term Loans (INR 7,000 Cr), NHB Refinance (INR 2,894 Cr), and Commercial Paper (INR 3,550 Cr).

Import Sources

Sourced from domestic capital markets, commercial banks, and the National Housing Bank (NHB).

Key Suppliers

Key providers of capital include the National Housing Bank (NHB) and various commercial banks for term loans and credit lines.

Capacity Expansion

Current network includes 220 branches across 176 locations. The company is rapidly scaling its developer financing and prime home loan teams to increase market penetration.

Raw Material Costs

Cost of Funds (CoF) was 7.4% in Q2 FY2026, a 34 bps sequential drop. Procurement strategy involves a balanced mix of floating and fixed-rate liabilities to optimize costs.

Manufacturing Efficiency

Opex to NTI ratio improved to 20.8% in FY2025 from 24.0% in FY2024, reflecting enhanced operational efficiency through digitalization.

Logistics & Distribution

Distribution is handled through 220 branches and an Approved Project Finance (APF) network of over 8,300 projects.

📈 Strategic Growth

Expected Growth Rate

21-23%

Growth Strategy

Strategy involves increasing market share in incremental home loan originations to 5% (from ~2.7%), optimizing product mix with 2-3% movements between HL, LRD, DF, and LAP, and reducing Opex to NTI to 14-15% through end-to-end digitalization.

Products & Services

Home Loans (HL), Lease Rental Discounting (LRD), Developer Financing (DF), and Loan Against Property (LAP).

Brand Portfolio

Bajaj Housing Finance, Bajaj Group.

New Products/Services

Expansion into Non-Prime Home Loans and deepening Developer Financing to enhance overall portfolio returns.

Market Expansion

Deepening presence in 176 existing locations and expanding into Northern India and NCR hubs.

Market Share & Ranking

Current incremental home loan market share is approximately 2.5-2.7%, with a target to reach 5%.

Strategic Alliances

Maintains assignment transactions with multiple partners, with an outstanding assigned portfolio of INR 15,171 Cr as of March 2025.

🌍 External Factors

Industry Trends

The home loan industry grew at a 13.7% CAGR (FY20-25) and is expected to grow at 14-16% CAGR through FY2028, reaching a size of INR 60-63 Lakh Cr.

Competitive Landscape

The prime segment is highly competitive and dominated by banks; BHFL competes by leveraging its parent group's brand and active treasury management.

Competitive Moat

Moat is built on the 'Bajaj' brand trust, the lowest cost of funds in the HFC sector, and a massive APF network of 8,300+ projects which provides unique customer access.

Macro Economic Sensitivity

Highly sensitive to interest rate cycles; a 15-20 bps margin decline is anticipated due to market competition and interest rate movements.

Consumer Behavior

Shift toward prime retail and commercial segments (LRD/DF) where customers seek competitive interest rates and fast processing.

Geopolitical Risks

Minimal impact as operations are entirely domestic within the Indian housing market.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RBI and NHB regulations. The company must comply with Minimum Public Shareholding (MPS) norms, requiring the promoter (Bajaj Finance Ltd) to divest up to 2% (166.6 million shares) by February 2026.