Aadhar Housing Finance (AADHARHFC) Q4 24/25 earnings summary

Executive summary

• Achieved 21% year-over-year AUM growth to INR 26,531 crores (₹255,307 Mn/₹25,531 crore) and 22% PAT growth to INR 912 crores (₹9,118 Mn/₹912 crore) for FY25, maintaining leadership in affordable housing finance.

• Disbursements for FY25 reached INR 8,192 crores (₹81,921 Mn), up 16% YoY, with a retail-focused portfolio and 74% home loans.

• Expanded to 21 states, 547 districts, and 580+ branches, serving about 2.99 lakh live customers; entered Northeast India.

• IPO proceeds of ₹1,000 crore (₹10 Bn) were fully utilized as per objectives, with no deviations.

• Asset quality remained strong with GNPA at 1.04–1.05%, improving by 3bps YoY.

Financial highlights

• FY25 PAT at INR 912 crores (₹9,118 Mn), up 22% YoY; total income at ₹31,089 Mn; NIM at 9.1%.

• Borrowings grew 17% YoY to INR 16,388 crores; borrowing mix: 53% banks, 23% NHB, 21% NCD, 3% ECB.

• First ECB issuance of $50 million at SOFR+156bps, fully hedged at 8.1% all-in cost.

• Capital adequacy ratio at 44.1–44.61%; net worth increased to ₹64 Bn (₹6,36,790 lakh).

• Liquidity at year-end was INR 2,200 crores (10.7% of loan book); liquidity coverage ratio averaged 339.42%.

Outlook and guidance

• FY26 guidance: AUM growth of 20-21%, disbursement growth of 18-19%, PAT growth of 20-21%.

• Management expects robust demand in affordable housing, driven by urbanization and government initiatives.

• Focus on expanding branch network, digital transformation, and maintaining asset quality.

• GNPA expected to remain around 1.00-1.05%.

• Growth to be driven by emerging markets, with urban/emerging mix expected to shift to 45%/55%.