Bajaj Housing Finance (BAJAJHFL) investor relations material

Executive summary

• Q2 FY27 AUM reached ₹1,58,205 crore, up 25% YoY; loan assets rose 24% to ₹1,39,862 crore.

• Q2 PAT increased 18% YoY to ₹757 crore; H1 PAT rose 20% to ₹1,472 crore.

• Asset quality remained stable sequentially, with GNPA at 0.29% and NNPA at 0.12%; Sambhav monthly disbursements exceeded ₹500 crore.

• Joint auditors issued an unmodified limited-review conclusion on the unaudited quarter and half-year results ended 30 September 2026.

Financial highlights

• Q2 NII grew 10% YoY to ₹1,055 crore; net total income rose 15% to ₹1,254 crore.

• Q2 PBT increased 18% YoY to ₹980 crore; loan losses and provisions declined 19% to ₹35 crore.

• H1 net total income rose 16% to ₹2,429 crore; PBT grew 20% to ₹1,908 crore.

• Q2 disbursements grew 25% YoY to ₹19,935 crore; quarterly AUM addition was ₹8,580 crore versus ₹6,329 crore.

Outlook and guidance

• FY27 AUM growth guidance remains 21%–23%; management is monitoring interest-rate changes and bank acquisition pricing before revising its view.

• FY27 NIM compression guidance remains ~25 bps; management cited potential additional 2–3 bps pressure if prime acquisition pricing lags funding costs.

• ROA guidance remains 2.1%–2.3%; Q2 ROA was 2.2%.

• Sambhav targets monthly disbursements above ₹600 crore within six months, with a target of ~20% of Home Loan mix next year and 30% over three to four years.

• Developer finance growth is targeted at 15%–17%; higher sanctions are expected to translate into disbursements and AUM growth with a lag.