Aptus Value Housing Finance India (APTUS) Q3 25/26 earnings summary

Executive summary

• Achieved 21% year-over-year AUM growth to INR 12,330 crores in Q3 FY26, with disbursements up 11% to INR 1,030 crores and network expansion to 335 branches across 7 states and UTs.

• Net profit for Q3 FY26 rose 26% year-over-year to INR 239 crores, with nine-month profit at INR 685 crores, also up 26% year-over-year.

• Asset quality remained stable with GNPA at 1.56% and NNPA at 1.18% in Q3 FY26; collection efficiency above 99%.

• Technology adoption is high, with over 92% of agreements and 94% of collections processed digitally.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved, with a limited review and unmodified opinion from statutory auditors.

Financial highlights

• Net Interest Income rose 26% year-over-year to INR 406 crores in Q3 FY26; total income for nine months grew 27% to INR 1,652 crores.

• Net profit for Q3 FY26 was INR 239 crores, up from INR 190.5 crores in Q3 FY25; nine-month net profit was INR 685 crores, up from INR 544.2 crores year-over-year.

• ROA and ROE for the quarter at 7.9% and 20.2%, respectively; NIM for nine months at 13.4%.

• Spreads improved to 8.9% as cost of funds declined to 8.3%-8.4%.

• Opex as a percentage of AUM stable at 2.7% for the quarter and nine months.

Outlook and guidance

• Sustainable AUM growth of 22%-24% expected, with FY26 guidance at 20-21%, driven by branch expansion and higher ticket size.

• Credit cost guidance maintained at 0.5% despite aggressive write-off policy.

• Growth initiatives may offset the impact of discontinuing sub-INR 7 lakh loans.

• Target of INR 25,000 crore AUM by FY29 may be delayed by one or two quarters due to current moderation.

• The company continues to monitor regulatory changes, including the implementation of new labour codes, and will adjust accounting treatment as needed.