Bajaj Housing Finance (BAJAJHFL) Q4 24/25 earnings summary

Executive summary

• AUM grew 26% year-over-year to ₹1,14,684 crore in Q4 FY25, with PAT up 54% to ₹587 crore and ROA steady at 2.4%.

• Asset quality remained robust: GNPA at 0.29%, NNPA at 0.11%, and credit cost at 0.12% for Q4 FY25.

• Capital adequacy ratio at 28.24%, well above regulatory requirements, with leverage ratio at 5.2x.

• Expanded to 174 locations with 216 branches and a diversified portfolio; home loans comprised 56.2% of AUM.

• Audited financial results for Q4 FY25 and FY25 were approved, with an unmodified audit opinion.

Financial highlights

• Net interest income for FY25 rose 20% to ₹3,007 crore; Q4 FY25 NII up 31% year-over-year.

• Net total income for FY25 increased 23% to ₹3,597 crore; pre-provisioning operating profit up 28%.

• Q4 FY25 PAT up 54% to ₹587 crore; full-year PAT up 25% to ₹2,163 crore.

• Disbursements for Q4 FY25 rose 25% YoY to ₹14,254 crore.

• Operating expenses to net total income improved to 20.8% in FY25 from 24% in FY24.

Outlook and guidance

• Medium-term guidance: AUM growth of 24–26%, GNPA of 40–60 bps, Opex to NTI at 14–15%, credit cost at 20–25 bps, PCR at 40–50%, ROA at 2.0–2.2%, leverage at 7–8x, and ROE at 13–15%.

• Expect 10–15 bps NIM compression in FY26 due to rate cuts, with mitigation via asset mix changes, especially in Developer Finance and Near Prime segments.

• ROE expected to remain within medium-term guidance range.

• Company continues to focus on growth, maintaining high asset quality and strong capital position.