Home First India (HOMEFIRST) Q2 26/27 earnings summary

Executive summary

• AUM reached ₹180,098 Mn, up 27.0% YoY and 6.3% QoQ; record Q2 disbursements were ₹17,048 Mn, up 32.2% YoY and 4.7% QoQ.

• PAT rose 29.1% YoY and 6.5% QoQ to ₹1,701.92 Mn; Gross Stage 3 improved 10 bps QoQ to 1.7%.

• Priorities for the balance of FY27: sustain growth, preserve portfolio quality, protect profitability and improve operating efficiency.

Financial highlights

• Q2 total income was ₹5,670.42 Mn; Net Total Income was ₹3,432 Mn, up 23.9% YoY, and Net Interest Income grew 31.9% YoY to ₹2,461 Mn.

• PPOP rose 26.1% YoY to ₹2,376 Mn; PBT increased 28.3% YoY to ₹2,222.11 Mn and PAT rose 29.1% to ₹1,701.92 Mn.

• H1 net profit was ₹3,300.43 Mn versus ₹2,507.38 Mn; H1 total income was ₹11,068.83 Mn versus ₹9,343.12 Mn.

• Basic and diluted EPS were ₹16.28 and ₹16.13 for Q2; H1 EPS was ₹31.59 and ₹31.28, respectively.

• Loans outstanding were ₹149,190.86 Mn at Sep. 30, 2026, versus ₹131,326.13 Mn at Mar. 31, 2026.

Outlook and guidance

• FY27 targets remain 25% AUM growth and ₹20,000 crore AUM by March 2027; exit ROE target is 15%, with management indicating potential upside.

• FY28 exit ROE target is 16%; management reiterated confidence in 25% growth and expects portfolio momentum to continue.

• Targets include gross NPA near 1.7%, credit cost of 40 bps and a 10 bps YoY reduction in operating cost to assets.

• Six branches were added in Q2; 10 branches had been added year to date, with 10–15 more planned over the next two quarters.

• Co-lending transactions are expected to increase in Q3 as implementation of new RBI guidelines with partners nears completion.