Sammaan Capital Limited (SAMMAANCAP)
₹133.86 -2.28% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Sammaan Capital's net interest income was ₹317 Cr (-13.8% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹317 | -13.8% | from loss |
| Operating profit | ₹326 | -65.1% | — |
SAMMAANCAP delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 42.0% of the SAMMAANCAP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 47.79%. That is close to its usual level.
Delivery in the last 5 sessions: 41.2% · 43.4% · 55.0% · 40.8% · 42.0%
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
Sammaan Capital Limited has certified timely interest payments on its listed Secured Redeemable Non-Convertible Debentures (NCDs) under SEBI Regulation 57. The payments were executed on October 16, 2026, ahead of the due date of October 19, 2026. Disclosures span 8 ISINs with an aggregate monthly interest payout of approximately INR 93.16 lacs across debenture issuances totaling INR 12,156.88 lacs.
- Timely interest payment completed for 8 NCD ISINs on October 16, 2026 ahead of due date October 19, 2026
- Total monthly interest paid amounted to INR 93.16 lacs across all listed series
- Largest single issue interest paid was INR 46.71312 lacs on ISIN INE148I07WU1 (issue size INR 6,300 lacs)
- Aggregate issue size covered under this intimation totals INR 12,156.88 lacs
Sammaan Capital Limited has certified timely interest payments on two series of secured redeemable non-convertible debentures (NCDs) under SEBI Regulation 57. The company disbursed a total interest amount of ₹36.90 crore (₹18.60 crore and ₹18.30 crore across two tranches with issue sizes of ₹200 crore each). The payments were executed on October 15, 2026, ahead of the scheduled due date of October 16, 2026. This filing reflects standard debt servicing compliance.
- Paid ₹18.60 crore interest on NCD ISIN INE148I07YE1 with issue size of ₹20,000 lacs (₹200 crore)
- Paid ₹18.30 crore interest on NCD ISIN INE148I07YF8 with issue size of ₹20,000 lacs (₹200 crore)
- Total interest paid stands at ₹36.90 crore against a cumulative principal base of ₹400 crore
- Payments completed on October 15, 2026, one day ahead of the October 16, 2026 due date
Sammaan Capital Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The confirmation letter was provided by the company's Registrar and Share Transfer Agent, KFin Technologies Limited, on October 09, 2026. The document confirms that details of securities dematerialized or rematerialized during the quarter have been duly furnished to the stock exchanges. This is a recurring, statutory compliance filing with no impact on business operations or financials.
- Compliance submission under Regulation 74(5) of SEBI Regulations, 2018
- Covers dematerialization/rematerialization details for the quarter ended September 30, 2026
- Confirmation issued by RTA KFin Technologies Limited dated October 09, 2026
Sammaan Capital Limited has certified timely interest payments on seven series of secured redeemable non-convertible debentures (NCDs) under SEBI Regulation 57. The aggregate monthly interest paid was approximately Rs 26.52 lakh across the seven ISINs. All payments due on October 9, 2026, were executed a day early on October 8, 2026. This represents ordinary-course debt servicing with no credit event or delay reported.
- Timely interest payment completed for 7 listed NCD ISINs
- Payments due on 09/10/2026 were disbursed on 08/10/2026
- Total interest serviced across tranches amounts to ~Rs 26.52 lakh (0.2652 crore)
- Payment frequency is monthly across all seven tranches with record date 24/09/2026
Sammaan Capital Limited has certified timely interest payments on seven series of secured redeemable non-convertible debentures (NCDs) under SEBI Regulation 57. The aggregate monthly interest paid was approximately Rs 26.52 lakh across the seven ISINs. All payments due on October 9, 2026, were executed a day early on October 8, 2026. This represents ordinary-course debt servicing with no credit event or delay reported.
- Timely interest payment completed for 7 listed NCD ISINs
- Payments due on 09/10/2026 were disbursed on 08/10/2026
- Total interest serviced across tranches amounts to ~Rs 26.52 lakh (0.2652 crore)
- Payment frequency is monthly across all seven tranches with record date 24/09/2026
Sammaan Capital Limited has certified the timely payment of monthly interest due on October 6, 2026, for two tranches of Secured Redeemable Non-Convertible Debentures (NCDs) issued via public issue. The company disbursed interest of INR 7.44796 lacs on an issue size of INR 1008.80 lacs (ISIN: INE148I07LE8) and INR 0.00693 lacs on an issue size of INR 1.00 lac (ISIN: INE148I07LD0). Both payments were executed a day ahead of schedule on October 5, 2026. This disclosure is made pursuant to Regulation 57 of the SEBI LODR Regulations.
- Timely interest payment of INR 7.44796 lacs completed on NCD issue size of INR 1008.80 lacs (ISIN INE148I07LE8)
- Payment of INR 0.00693 lacs made for NCD issue size of INR 1.00 lac (ISIN INE148I07LD0)
- Actual payment completed on October 5, 2026, ahead of the due date of October 6, 2026
- Record date for identifying eligible debenture holders was September 21, 2026
Sammaan Capital reported strong operational momentum in its Q2FY27 business update, with quarterly disbursements rising nearly 55% QoQ to approximately ₹6,000 crore compared to ₹3,875 crore in Q1FY27. Assets Under Management (AUM) expanded to over ₹59,000 crore as of September 30, 2026, up from ₹56,239 crore as of June 30, 2026. Customer acquisition accelerated sharply, adding over 30,700 new customers in Q2FY27 versus 11,867 in the previous quarter. The company's distribution footprint expanded to 245 branches.
- Q2FY27 disbursements stood at approximately ₹6,000 crore, up 54.8% QoQ from ₹3,875 crore in Q1FY27
- Consolidated AUM increased to over ₹59,000 crore from ₹56,239 crore as of June 30, 2026
- Added over 30,700 new customers in Q2FY27 compared to 11,867 in Q1FY27
- Branch network expanded to 245 branches across the country
Sammaan Capital Limited has certified the timely payment of monthly interest due on two series of secured redeemable non-convertible debentures (NCDs) pursuant to SEBI Regulation 57. The aggregate interest paid amounted to approximately INR 4.68 lakh (INR 0.00716 lakh and INR 4.67336 lakh across two ISINs). The actual payment date was October 1, 2026, ahead of the scheduled due date of October 3, 2026. This is a routine debt-servicing compliance filing.
- Timely interest payment of INR 4.67336 lacs made on ISIN INE148I07MZ1 (issue size INR 615.24 lacs)
- Interest payment of INR 0.00716 lacs completed on ISIN INE148I07NA2 (issue size INR 1 lac)
- Actual payment executed on October 1, 2026, prior to the scheduled due date of October 3, 2026
- Record date for the monthly interest was September 18, 2026
Sammaan Capital Limited concluded its 21st Annual General Meeting on September 30, 2026, passing ordinary and special business resolutions via e-voting. Resolutions included taking note of the retirement of Executive Director Mr. Sachin Chaudhary, appointing H.E. Dalia Hazem Gamil Khorshid as a Non-Executive Non-Independent Director (approved with 99.74% majority), and re-appointing Independent Director Mrs. Shefali Shah. Out of 1,162,547,935 total voting rights, 551,471,640.60 rights were polled (a 47.44% turnout). Management highlighted strategic realignment under promoter IHC/Avenir Investment RSC Ltd following their earlier balance sheet strengthening.
- AGM voting turnout stood at 47.44% of outstanding voting rights (551,471,640.60 votes polled out of 1,162,547,935).
- Appointment of H.E. Dalia Hazem Gamil Khorshid approved with 99.74% votes in favour (550,040,608.60 votes).
- Noted the retirement by rotation of Executive Director and COO Mr. Sachin Chaudhary, who did not seek re-appointment.
- Promoter and Promoter Group cast 100% of their 330,040,480.96 voting rights in favour.
Sammaan Capital Limited has submitted a compliance certification under Regulation 57 of SEBI LODR, confirming timely interest servicing on its listed Secured Redeemable Non-Convertible Debentures (NCDs). The interest payments, due on October 1, 2026, were executed early on September 29, 2026, covering 12 distinct ISIN series. Individual interest payouts ranged from INR 0.06013 lacs to INR 23.42679 lacs. This is a standard regulatory intimation confirming normal debt debt-servicing operations.
- Confirmed timely payment of interest across 12 listed NCD series under SEBI Regulation 57.
- Actual interest payment date was September 29, 2026, ahead of the scheduled due date of October 1, 2026.
- Largest single interest payout in the list was INR 23.42679 lacs for ISIN INE148I07XK0 (issue size INR 3209.48 lacs).
- Record date for all 12 series was September 16, 2026, with payment frequency confirmed as monthly.
Sammaan Capital Limited has certified timely interest payments on seven series of Secured Redeemable Non-Convertible Debentures (NCDs) listed on stock exchanges, pursuant to Regulation 57 of SEBI LODR. The payments, due on October 1, 2026, were executed on September 29, 2026. Total interest paid across the 7 tranches amounted to approximately INR 56.03 lacs on aggregate outstanding amounts of INR 7,118.36 lacs. This represents regular debt service obligations for the company.
- Monthly interest payments cleared for 7 distinct ISINs ahead of the October 1, 2026 due date on September 29, 2026
- Total interest amount paid across the listed tranches was INR 56.03442 lacs
- Total outstanding principal across the 7 NCD series stands at INR 7,118.36 lacs
- Individual tranche interest payments ranged from INR 0.03303 lacs (INE148I07TU7) to INR 12.63068 lacs (INE148I07TG6)
Sammaan Capital Limited has certified the timely payment of monthly interest due on two series of secured redeemable non-convertible debentures (NCDs) under Regulation 57 of SEBI LODR. The total interest paid was approximately Rs 5.93 lakh across two ISINs against an aggregate outstanding issue size of Rs 737.028 lakh. The due date was September 28, 2026, and payments were executed ahead of schedule on September 25, 2026. This is a standard debt servicing filing reflecting regular obligations relative to its FY26 revenue of Rs 6,827.82 crore.
- Paid interest of Rs 0.05317 lakh on ISIN INE148I07NN5 with an issue size of Rs 7 lakh
- Paid interest of Rs 5.87887 lakh on ISIN INE148I07ND6 with an issue size of Rs 730.028 lakh
- Both interest disbursements were made on September 25, 2026, ahead of the due date of September 28, 2026
- Frequency of interest payment remains monthly with no changes
Sammaan Capital Limited has reported timely payment of interest on four series of Secured Redeemable Non-Convertible Debentures (NCDs) issued via public issues. The interest payments totaled approximately ₹126.13 lakh across NCD issues amounting to ₹2,606.39 lakh. Payments due on September 28, 2026, were executed on September 25, 2026. This submission satisfies standard regulatory compliance under Regulation 57 of SEBI LODR.
- Paid ₹114.60 lakh annual interest on ISIN INE148I07ME6 (issue size ₹1,189.52 lakh)
- Paid ₹10.80 lakh monthly interest on ISIN INE148I07ML1 (issue size ₹1,376.22 lakh)
- Paid ₹0.47 lakh annual interest on ISIN INE148I07MD8 and ₹0.26 lakh monthly interest on ISIN INE148I07MK3
- All scheduled interest payments due on September 28, 2026, were cleared on September 25, 2026
Sammaan Capital Limited has certified timely interest payments on two tranches of Secured Redeemable Non-Convertible Debentures (NCDs) listed on stock exchanges, pursuant to Regulation 57 of SEBI LODR Regulations. Across the two series (ISINs INE148I07LU4 and INE148I07LV2), the company paid interest amounts of Rs 0.18616 lakh and Rs 8.51660 lakh, respectively, against total issue sizes of Rs 26.00 lakh and Rs 1,119.54 lakh. The actual payments were executed on September 25, 2026, ahead of the scheduled due date of September 28, 2026. This represents routine debt servicing compliance.
- Paid interest of Rs 0.18616 lakh on issue size of Rs 26.00 lakh (ISIN: INE148I07LU4)
- Paid interest of Rs 8.51660 lakh on issue size of Rs 1,119.54 lakh (ISIN: INE148I07LV2)
- Total interest paid across both tranches equals Rs 8.70276 lakh
- Payments executed on September 25, 2026, ahead of the due date of September 28, 2026
Sammaan Capital Limited has certified timely interest payments on two tranches of Secured Redeemable Non-Convertible Debentures (NCDs) listed on stock exchanges, pursuant to Regulation 57 of SEBI LODR Regulations. Across the two series (ISINs INE148I07LU4 and INE148I07LV2), the company paid interest amounts of Rs 0.18616 lakh and Rs 8.51660 lakh, respectively, against total issue sizes of Rs 26.00 lakh and Rs 1,119.54 lakh. The actual payments were executed on September 25, 2026, ahead of the scheduled due date of September 28, 2026. This represents routine debt servicing compliance.
- Paid interest of Rs 0.18616 lakh on issue size of Rs 26.00 lakh (ISIN: INE148I07LU4)
- Paid interest of Rs 8.51660 lakh on issue size of Rs 1,119.54 lakh (ISIN: INE148I07LV2)
- Total interest paid across both tranches equals Rs 8.70276 lakh
- Payments executed on September 25, 2026, ahead of the due date of September 28, 2026
Financial Performance
Revenue Growth by Segment
The company is targeting a significant scale-up to reach an AUM of INR 1.10 lakh Cr by FY27-28. Retail mortgage growth is currently trending at approximately 30% YoY. Derecognition income from co-lending and direct assignments is expected to stabilize at 4% of disbursals.
Geographic Revenue Split
Not disclosed in available documents, though the company is expanding its physical presence to 500 branches across India over the next 2-3 years to diversify its geographic footprint.
Profitability Margins
The company reported a headline solvency ratio (NNPA/net worth) improvement to 2.3% as of June 30, 2025, compared to 5.0% as of March 31, 2024. Net gain on derecognition of loans is targeted at 4% of co-lending flow.
EBITDA Margin
Not disclosed in standard EBITDA format for this NBFC; however, the company maintains a consolidated CRAR of 35.8% (Tier I at 35.1%) as of June 30, 2025, providing a significant capital cushion.
Capital Expenditure
The company is undergoing a massive network expansion to 500-odd branches over 2-3 years. A major capital event is the INR 8,850 Cr preferential issue to Avenir Investment RSC Limited (IHC subsidiary).
Credit Rating & Borrowing
Credit rating is [ICRA]AA with 'Rating Watch with Developing Implications'. Borrowing costs are expected to improve following the IHC investment; recent NCD issuances include a proposed INR 8,000 Cr limit. Debt/Net worth ratio improved to 1.9x in June 2025 from 2.4x in March 2024.
Operational Drivers
Raw Materials
Debt Capital (80% of funding mix) and Equity Capital (20% of funding mix).
Import Sources
Domestic markets and International markets (raised a Dollar Bond shortly after the IHC announcement).
Key Suppliers
BSE Limited, National Stock Exchange of India, and various institutional investors for NCDs and Dollar Bonds.
Capacity Expansion
Current branch network is expanding toward a target of 500 branches within 24-36 months to support the asset-light retail origination model.
Raw Material Costs
Cost of funds is a primary driver; the company is leveraging its AA rating to raise capital. The IHC entry is expected to lower borrowing costs by enhancing the corporate governance profile.
Manufacturing Efficiency
Amortization on partner pools is running at approximately 77%, demonstrating high efficiency in loan book churn and collection.
Logistics & Distribution
Distribution is driven by the branch network expansion and digital tech ecosystem integration with IHC.
Strategic Growth
Expected Growth Rate
20-23%
Growth Strategy
The company will utilize an INR 8,850 Cr capital infusion from IHC to scale AUM to INR 1.10 lakh Cr. Strategy involves a 100% asset-light approach for new retail originations, expanding the branch network to 500 locations, and integrating IHC's technology ecosystem to enhance digital lending capabilities.
Products & Services
Home Loans (HL), Loan Against Property (LAP), MSME loans, and Commercial Real Estate (CRE) financing.
Brand Portfolio
Sammaan Capital (formerly Indiabulls Housing Finance), Sammaan Finserve Limited.
New Products/Services
Foray into Commercial Real Estate (CRE) and expanded MSME lending; product selection is currently being redrawn with the new promoter.
Market Expansion
Targeting 500 branches over 2-3 years to deepen penetration in semi-urban and urban mortgage markets.
Market Share & Ranking
Identified as one of the established players in the domestic mortgage finance industry despite recent AUM declines during the transition phase.
Strategic Alliances
Preferential issue agreement with Avenir Investment RSC Limited (IHC) for a 41.2% stake; co-lending partnerships with various banks.
External Factors
Industry Trends
The industry is shifting toward co-lending; RBI regulations in August 2025 expanded the co-lending scope beyond the priority sector, which is 'extremely positive' for Sammaan's asset-light model.
Competitive Landscape
Competes with AAA-rated HFCs and banks; aims to operate at 4.5x gearing to match industry benchmarks for high-rated players.
Competitive Moat
Moat is built on a long-standing mortgage franchise and a massive capital base (INR 22,106 Cr net worth). The IHC partnership provides a durable advantage in financial flexibility and debt-raising capacity.
Macro Economic Sensitivity
Highly sensitive to interest rate cycles and housing demand; robust customer demand is currently noted in the industry.
Consumer Behavior
Strong shift toward digital-first mortgage processing and demand for smaller-ticket mortgage loans in semi-urban areas.
Geopolitical Risks
The entry of Abu Dhabi-based IHC as a promoter introduces international strategic alignment but subjects the company to cross-border regulatory scrutiny.
Regulatory & Governance
Industry Regulations
Received new NBFC-ICC registration from RBI in June 2024. Subject to RBI co-lending guidelines (updated Aug 2025) and requires CCI, RBI, and SEBI approvals for the IHC transaction.
Legal Contingencies
The company is managing the rundown of a legacy portfolio with potential provisioning risks; however, specific pending court case values were not disclosed in the provided text.
Risk Analysis
Key Uncertainties
Execution risk in the transition to the asset-light model and the timing of regulatory approvals for the IHC deal (estimated 4-month timeline).
Geographic Concentration Risk
Currently expanding from a concentrated urban base to a 500-branch national network to mitigate regional risks.
Third Party Dependencies
High dependency on Avenir/IHC for the INR 8,850 Cr capital infusion to execute the FY27-28 growth plan.
Technology Obsolescence Risk
Mitigated by planned integration with IHC's technology ecosystem to modernize the lending platform.
Credit & Counterparty Risk
Retail asset quality is strong with 0.53% 90 DPD; legacy book remains the primary area of credit monitoring.
