HOMEFIRST - Home First Finan
📢 Recent Corporate Announcements
Home First Finance Company India Limited has announced a series of investor interactions scheduled between March 13 and March 24, 2026. The engagement includes branch visits for analysts on March 13, 16, and 17, followed by one-on-one investor meetings from March 18 to March 20. Furthermore, the company will participate in the Jefferies 2nd India NBFC Access Day on March 24, 2026. These meetings will utilize the existing investor presentation previously released on January 22, 2026.
- One-on-one meetings with existing and prospective investors scheduled for March 18-20, 2026
- Branch visits for analysts and investors organized for March 13, 16, and 17, 2026
- Participation in the Jefferies 2nd India NBFC Access Day - Conference on March 24, 2026
- Company to use the latest publicly available documents and the Jan 22, 2026 investor presentation for discussions
Home First Finance Company India Limited has announced a series of interactions with existing and prospective investors scheduled between March 2 and March 12, 2026. The company will conduct one-on-one meetings on March 2, 5, and from March 10 to 12. Additionally, the management is set to participate in the Investec Conference on March 9, 2026. These interactions will be based on the latest publicly available information and the investor presentation previously released on January 22, 2026.
- One-on-one investor meetings scheduled for March 2, 5, and March 10-12, 2026.
- Participation in the Investec Conference confirmed for March 9, 2026.
- Management will refer to the Investor Presentation dated January 22, 2026, for all discussions.
- The schedule is subject to change based on exigencies from either the company or the investors.
Home First Finance Company India Limited has scheduled one-on-one interactions with various institutional investors and analysts on February 20 and February 27, 2026. Additionally, the company has organized a branch visit for analysts and investors on February 23, 2026, to provide operational insights. The discussions will be based on the latest investor presentation previously released on January 22, 2026. These meetings are part of the company's regular investor relations engagement to discuss publicly available financial information.
- One-on-one investor and analyst meetings scheduled for February 20 and February 27, 2026
- Organized branch visit for analysts and investors on February 23, 2026, for ground-level insights
- Discussions to focus on the investor presentation dated January 22, 2026
- Meetings are subject to change based on exigencies from either the company or participants
Home First Finance Company India Limited has allotted 1,50,385 equity shares of Rs. 2 each to employees upon the exercise of vested stock options. This move has increased the company's paid-up share capital to Rs. 20.85 crore, comprising 10.42 crore equity shares. The allotment spans three different ESOP schemes (II, 2021, and 2024) with exercise prices ranging from Rs. 117.24 to Rs. 970.30. These new shares are identical to existing shares and will be listed on BSE and NSE.
- Approved allotment of 1,50,385 equity shares on February 18, 2026.
- Paid-up capital increased from 10,40,95,636 to 10,42,46,021 equity shares.
- Exercise prices varied significantly, with the highest being Rs. 970.30 per share.
- The allotment represents a marginal dilution of approximately 0.14% of the total share capital.
Home First Finance Company India Limited has informed the stock exchanges of upcoming one-on-one interactions with various institutional investors and analysts. The meetings are scheduled to take place on February 17 and February 18, 2026. The company will be discussing its performance based on the latest publicly available documents and the investor presentation previously released on January 22, 2026. This is a standard regulatory disclosure under SEBI (LODR) Regulations.
- One-on-one meetings with institutional investors and analysts scheduled for Feb 17 and 18, 2026.
- Company will refer to the investor presentation dated January 22, 2026, for discussions.
- Disclosure made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements).
- Meetings are subject to change based on exigencies of the company or investors.
Home First Finance Company India Limited has announced an extensive schedule of institutional investor interactions for February 2026. The company will participate in high-profile events including the Goldman Sachs Asia Financials Corporate Day on February 11 and conferences by IIFL and Kotak on February 24 and 26, respectively. Additionally, the company is hosting a branch visit for analysts on February 12 to provide deeper operational insights. These meetings will focus on the latest investor presentation released on January 22, 2026.
- Participation in Goldman Sachs 2026 Asia Financials Corporate Day on February 11 via virtual mode.
- In-person attendance at IIFL Finance Conference (Feb 24) and Kotak Conference (Feb 26) in Mumbai.
- Scheduled one-on-one investor interactions from February 9 to February 12, 2026.
- Organized a dedicated branch visit for analysts and investors on February 12, 2026, to demonstrate ground-level operations.
Home First Finance reported a strong Q3 FY26 with PAT rising 44% YoY to ₹140 crore and AUM reaching ₹14,925 crore. Despite a slight uptick in Gross Stage 3 assets to 2.0%, early-stage delinquencies (1+ DPD) improved by 20 bps to 5.3%, signaling stabilizing asset quality. The company achieved record quarterly disbursements of ₹1,318 crore and saw Net Interest Margins (NIM) expand to 6.0%. Crucially, the MD & CEO dismissed rumors regarding his exit, providing leadership stability for the projected 25% growth in FY27.
- AUM grew 24.9% YoY to ₹14,925 crore with record quarterly disbursements of ₹1,318 crore.
- Net Interest Margin (NIM) expanded to 6.0% from 5.4% QoQ, supported by optimized liquidity and lower borrowing costs.
- Profit After Tax (PAT) increased 44% YoY to ₹140 crore, delivering a robust Return on Assets (ROA) of 4.0%.
- Asset quality showed improvement in early buckets with 1+ DPD down 20 bps to 5.3%, though Gross Stage 3 rose 10 bps to 2.0%.
- MD & CEO Manoj Viswanathan explicitly denied rumors of his departure, confirming his commitment to the company.
Home First Finance Company India Limited has announced a series of upcoming interactions with institutional investors and analysts. The schedule includes a one-on-one meeting on January 29, 2026, followed by two major conferences in Mumbai during February. Specifically, the company will attend the Systematix India Annual Conference on February 9 and Axis Capital's Flagship India Conference on February 10. These meetings will focus on the company's latest financial performance and strategy as outlined in their January 22, 2026, investor presentation.
- One-on-one investor/analyst meeting scheduled for January 29, 2026.
- Participation in MANTHAN - Systematix India Annual Conference in Mumbai on February 9, 2026.
- Attendance at Axis Capital's Flagship India Conference in Mumbai on February 10, 2026.
- Company officials will refer to the latest investor presentation dated January 22, 2026, for all discussions.
Home First Finance Company India Limited has announced a series of upcoming interactions with institutional investors and analysts. The schedule includes a one-on-one meeting on January 29, 2026, followed by participation in two major conferences in Mumbai. The company will attend the Systematix India Annual Conference on February 9 and the Axis Capital Flagship India Conference on February 10. These meetings will focus on the latest publicly available financial data and investor presentations.
- One-on-one investor interaction scheduled for January 29, 2026
- Participation in MANTHAN - Systematix India Annual Conference on February 9, 2026
- Attendance at Axis Capital's Flagship India Conference on February 10, 2026
- Discussions will be based on the Investor Presentation released on January 22, 2026
Home First Finance Company reported a strong Q3FY26 performance with PAT growing 44% YoY to ₹140 Cr and AUM reaching ₹14,925 Cr. Disbursements hit an all-time high of ₹1,318 Cr, representing a 10.5% YoY growth, though the company issued a correction noting QoQ disbursement growth was 2.2% rather than 10.5%. Profitability remains robust with a Return on Assets (RoA) of 4.0% and improving spreads at 5.4%. Asset quality remains largely stable with GNPA at 2.0% and 1+ DPD improving to 5.3%.
- Assets Under Management (AUM) grew 24.9% YoY to ₹14,925 Cr with housing loans comprising 83% of the mix.
- Profit After Tax (PAT) increased 44% YoY to ₹140 Cr; excluding one-time labor code adjustments, growth was 46.6%.
- Spreads improved by 10 bps QoQ to 5.4% as the cost of borrowings declined to 8.0%.
- Asset quality metrics showed 1+ DPD improving to 5.3% (down 20 bps QoQ) while GNPA stood at 2.0% (up 10 bps QoQ).
- Capital adequacy remains exceptionally strong with a CRAR of 49.0% following a recent fundraise.
Home First Finance Company reported a robust 44% YoY increase in Profit After Tax (PAT) for Q3 FY26, reaching ₹1,402 million compared to ₹973.83 million in the previous year. Total revenue from operations grew by 18.8% YoY to ₹4,822.45 million, supported by steady interest income growth. The company also confirmed the re-appointment of Ms. Kavita Semwal as Chief Compliance Officer for a three-year term starting May 2026, ensuring management continuity. Additionally, the company recognized a ₹33 million provision for employee benefits related to the New Labour Codes.
- Net Profit for Q3 FY26 rose 44% YoY to ₹1,402 million from ₹973.83 million.
- Total Income for the quarter stood at ₹4,836.75 million, up 18.7% from ₹4,074.50 million YoY.
- Basic Earnings Per Share (EPS) increased to ₹13.52 from ₹10.20 in the year-ago period.
- Re-appointment of Ms. Kavita Semwal as CCO for 3 years effective May 01, 2026.
- Direct assignment of loans worth ₹2,387.85 million executed during the quarter ended Dec 31, 2025.
Home First Finance Company reported a robust Q3FY26 with Profit After Tax (PAT) growing 44% YoY to ₹140 Cr, supported by a 24.9% growth in Assets Under Management (AUM) which reached ₹14,925 Cr. The company achieved its highest-ever quarterly disbursements of ₹1,318 Cr while maintaining a strong Return on Assets (RoA) of 4.0%. Although Gross Stage 3 assets (GNPA) rose slightly to 2.0%, early delinquency indicators like 1+ DPD improved to 5.3%. Management has provided a confident growth guidance of 25% AUM growth for FY27.
- Assets Under Management (AUM) grew 24.9% YoY to ₹14,925 Cr, with housing loans comprising 83% of the portfolio.
- Profit After Tax (PAT) increased 44% YoY to ₹140 Cr; excluding one-time labour code adjustments, growth was 46.6%.
- Return on Assets (RoA) expanded by 60 bps YoY to 4.0%, while Spreads improved to 5.4%.
- Asset quality showed 1+ DPD improving to 5.3% (down 20 bps QoQ), though GNPA edged up to 2.0%.
- Capital position remains very strong with a Total CRAR of 49.0% and a net worth of ₹4,180 Cr.
Home First Finance reported a strong Q3 FY26 with PAT rising 44% YoY to ₹140.2 crore, despite a one-time gratuity provision of ₹3.3 crore due to new labor codes. Assets Under Management (AUM) grew by 24.9% YoY to reach ₹14,925 crore, supported by record quarterly disbursements of ₹1,318 crore. While asset quality saw a marginal uptick in GNPA to 2.0%, early-stage delinquencies (1+ DPD) improved by 20 bps QoQ. The company maintains a robust Return on Assets (RoA) of 4.0% and has expanded its network to 165 branches.
- Profit After Tax (PAT) grew 44% YoY to ₹1,402 Mn; excluding one-time items, growth was 46.6% YoY.
- Total Assets Under Management (AUM) increased by 24.9% YoY to ₹1,49,249 Mn.
- Quarterly disbursements reached an all-time high of ₹13,184 Mn, up 10.5% YoY.
- Return on Assets (RoA) stood at 4.0% and Pre-money Return on Equity (RoE) was 17.1%.
- Asset quality remained stable with 30+ DPD flat at 3.7% and GNPA at 2.0%.
Home First Finance reported a robust performance for Q3 FY26, with Profit After Tax (PAT) increasing 44% year-on-year to ₹1,402 million. Total revenue from operations grew by 18.8% YoY to ₹4,822.45 million, supported by strong interest income and loan growth in the affordable housing segment. For the nine-month period ended December 2025, PAT reached ₹3,909.38 million compared to ₹2,773.76 million in the previous year. The company also confirmed the re-appointment of its Chief Compliance Officer for a further three-year term.
- Net Profit (PAT) surged 44% YoY to ₹1,402 million in Q3 FY26 from ₹973.83 million in Q3 FY25.
- Total Revenue from operations increased 18.8% YoY to ₹4,822.45 million.
- Basic Earnings Per Share (EPS) rose to ₹13.52 from ₹10.20 in the year-ago quarter.
- Nine-month PAT for FY26 stands at ₹3,909.38 million, reflecting strong cumulative growth.
- A one-time provision of ₹33 million was recognized during the quarter due to the impact of new Labour Codes.
Home First Finance Company India Limited has scheduled one-to-one interactions with institutional investors and analysts on January 27 and February 2, 2026. These meetings follow the company's board meeting held on January 22, 2026, where financial results or strategic updates are typically discussed. The company will utilize the latest investor presentation and publicly available documents for these discussions. Such interactions are part of routine investor relations to provide clarity on company performance and outlook.
- One-to-one investor meetings scheduled for January 27 and February 2, 2026
- Meetings follow the Board Meeting conducted on January 22, 2026
- Updated Investor Presentation to be made available on the company website
- Interactions will focus on latest publicly available financial and operational data
Financial Performance
Revenue Growth by Segment
Total operating income grew by 33% YoY from INR 1,157 Cr in FY24 to INR 1,539 Cr in FY25. Assets Under Management (AUM) grew at a 3-year CAGR of 33%, reaching INR 12,713 Cr by March 2025, driven by retail affordable housing loans which comprise the majority of the portfolio.
Geographic Revenue Split
Revenue is concentrated in Western and Southern India, with Gujarat contributing 29% of AUM, followed by Maharashtra at 14% and Tamil Nadu at 13% as of March 31, 2025. The company is actively diversifying, with growth expected from Andhra Pradesh, Uttar Pradesh, and Rajasthan.
Profitability Margins
Return on Total Assets (ROTA) stood at 3.41% in FY25, a slight moderation from 3.76% in FY24 due to rising cost of funds. Return on Net Worth (RONW) improved to 16.24% in FY25 from 15.54% in FY24. Q2 FY26 ROA was reported at 3.8% with an adjusted ROE of 16.7%.
EBITDA Margin
Interest coverage ratio stood at 1.70x in FY25 compared to 1.80x in FY24. Pre-provisioning operating profit is supported by an improvement in Opex to Average Assets, which fell from 2.9% in FY24 to 2.6% in FY25 due to economies of scale from branch expansion.
Capital Expenditure
HomeFirst raised INR 1,250 Cr through a Qualified Institutional Placement (QIP) in Q1 FY26, which increased its net worth from INR 2,520 Cr in March 2025 to approximately INR 3,750 Cr. This capital is earmarked for AUM growth and maintaining a low gearing of 2.6x.
Credit Rating & Borrowing
The company's long-term bank facilities were upgraded to 'CARE AA; Stable' from 'CARE AA-; Stable' in June 2025. Cost of borrowing decreased by 30 bps QoQ in Q2 FY26, with management aiming to bring the portfolio cost of funds below 8% by March 2026.
Operational Drivers
Raw Materials
The primary 'raw material' is capital/debt. The funding mix as of March 2025 consists of Bank Term Loans (60%), NHB Refinance (16%), Direct Assignment (14%), Co-lending (3%), and NCDs/ECBs (5%).
Import Sources
Capital is sourced domestically from 33 lenders including public and private sector banks, the National Housing Bank (NHB), and international sources like the U.S. International Development Finance Corporation (DFC) and IFC.
Key Suppliers
Key financial partners include the National Housing Bank (NHB), International Finance Corp (IFC) which provided INR 280 Cr for green housing, and the U.S. DFC which approved a $75 million loan for women borrowers.
Capacity Expansion
Current physical capacity includes 163 branches and 366 touchpoints across 143 districts in 13 states as of Q2 FY26. The company added 5 districts and 8 branches in the most recent quarter to deepen market penetration.
Raw Material Costs
Cost of funds is the critical cost driver; incremental borrowing is being secured at competitive rates, leading to a 30 bps reduction in borrowing costs in Q2 FY26. Spreads are maintained between 5.0% and 5.25%.
Manufacturing Efficiency
Operational efficiency is driven by technology; 91% of loans are approved within 48 hours. Digital adoption is high with 83% Account Aggregator penetration and 80% digital fulfillment through e-agreements.
Logistics & Distribution
Distribution is managed through a network of 1,723 employees and 163 branches. Opex to assets is maintained at 2.6%, reflecting efficient distribution of financial products.
Strategic Growth
Expected Growth Rate
30%
Growth Strategy
Growth will be achieved by expanding the branch network in Tier 2 and Tier 3 cities across AP, UP, and Rajasthan, and increasing the co-lending contribution to 10% of disbursements. The company leverages a 'Phygital' model combining 163 physical branches with 96% app-registration among customers.
Products & Services
Affordable housing loans for the economically weaker and low-income segments, Loan Against Property (LAP) for commercial and business purposes, and Green Housing finance.
Brand Portfolio
HomeFirst (Home First Finance Company India Ltd.)
New Products/Services
Expansion of the co-lending business, which grew 179% YoY in Q2 FY26, and Green Home loans certified under the IFC partnership (240 homes to date).
Market Expansion
Targeting deeper penetration in 143 districts across 13 states, specifically focusing on less concentrated states to reduce the 29% reliance on Gujarat.
Market Share & Ranking
HomeFirst is a leading player in the affordable housing finance segment with an AUM of INR 12,713 Cr and a 3-year CAGR of 33%.
Strategic Alliances
Partnerships with IFC for green housing (INR 280 Cr) and U.S. DFC ($75 million) for women-focused mortgage loans. Co-lending partnerships now account for 3.6% of total AUM.
External Factors
Industry Trends
The affordable housing industry is growing due to government proactive measures and a shift toward digital lending. HomeFirst is positioned as a tech-driven HFC with 91% of loans approved in <48 hours.
Competitive Landscape
Competes with other affordable housing finance companies and small finance banks. Competitive advantage lies in fast processing times and a diversified lender base of 33 institutions.
Competitive Moat
Moat is built on technology-led underwriting and a 'Low ESG Risk' rating (13.6 score from Sustainalytics). The ability to maintain a 3.41% ROTA while scaling branches provides a sustainable cost advantage.
Macro Economic Sensitivity
Highly sensitive to the interest rate cycle and inflation. Management notes an easing interest rate cycle and benign inflation as tailwinds for H2 FY26 momentum.
Consumer Behavior
Shift toward digital fulfillment (80% of agreements) and in-app service requests (87%) indicates a preference for tech-enabled financial services among the low-income cohort.
Geopolitical Risks
Limited direct impact as a domestic lender, though global interest rate shifts affect ECB costs and overall market liquidity.
Regulatory & Governance
Industry Regulations
Regulated by the National Housing Bank (NHB) and RBI. Complies with Housing Finance Company (HFC) norms, including capital adequacy and liquidity coverage ratios.
Environmental Compliance
Categorized as 'Low Risk' by Morningstar Sustainalytics with a score of 13.6. The company has an ESG Execution Team and a monthly ESG dashboard to monitor compliance.
Taxation Policy Impact
Standard corporate tax rates apply; the company reported a PAT of INR 382 Cr on a Total Operating Income of INR 1,539 Cr in FY25.
Legal Contingencies
No auditor qualifications, no restatements of financials, and no allegations of financial imprudence are reported in the clean track record.
Risk Analysis
Key Uncertainties
Asset quality seasoning is a key monitorable, as 71% of disbursements occurred in the last four years. Potential rise in credit costs (currently 40 bps) as the portfolio matures.
Geographic Concentration Risk
High concentration in Gujarat (29% of AUM) and Maharashtra (14%), making the company vulnerable to regional economic or regulatory shifts in these two states.
Third Party Dependencies
Relies on 33 lenders for debt; 60% of funding is from banks, creating a dependency on the banking sector's credit appetite.
Technology Obsolescence Risk
Mitigated by high digital adoption; 96% of customers are app-registered, and the company uses Account Aggregator frameworks for 83% of approvals.
Credit & Counterparty Risk
Credit risk is managed through conservative underwriting; 68% of borrowers are salaried, and the average loan tenure is 16-20 years with a behavioral maturity of 6-7 years.