Bajaj Housing Finance Management Guidance Tracker
11 forward-looking guidance items tracked across 3 quarters.
Margins
Management expects net interest margin to compress by 15-20 bps year-on-year due to yield pressure from competition and rate cuts, partially offset by cost of fund benefits.
Q2 FY26Opex to NTI target of 14-16% in 3-4 yearsTrackedManagement reiterated its aspiration to reduce opex to net total income ratio to 14-16% over a 3-4 year horizon, driven by income expansion and cost efficiency.
Q3 FY26NIM compression of 8-10 bps for FY26 vs FY25ActiveNet interest margin expected to compress by 8-10 basis points for the full year FY26 compared to FY25, driven by assignment mix and attrition.
Q3 FY26Medium-term cost-to-income ratio target of 14-15% in 3-4 yearsTrackedManagement targets reducing cost-to-income ratio to 14-15% over the next 3-4 years, driven by operating leverage and efficiency improvements.
Q4 FY26FY27 ROA towards upper end of 2.0-2.2% medium-term rangeTrackedManagement expects ROA to be at the upper end of the medium-term guidance, with margin compression offset by opex efficiencies and lower credit costs.
Q4 FY26Q1 FY27 NIM likely sideways with slight compression for full yearActiveNet interest margin in Q1 FY27 is expected to be broadly stable vs Q4 FY26, but full-year compression of ~10 bps is anticipated due to portfolio repricing.
Growth
Management expects AUM growth to return to medium-term guidance levels in FY27 as attrition pressures stabilize with rate stabilization.
Q3 FY26SBU monthly disbursement run rate of ₹600+ crore in 12-15 monthsTrackedThe near-prime and affordable housing SBU aims to double its monthly disbursement run rate from ₹325-350 crore to over ₹600 crore within 12-15 months.
Q3 FY26Medium-term AUM growth guidance of 24-26%TrackedManagement reiterated medium-term (3-4 year) AUM growth guidance of 24-26%, contingent on stabilization of attrition and industry growth of 12-14%.
Q4 FY26Sambhav monthly disbursements to reach ₹600 crore+ in 12 monthsTrackedSambhav housing loans are on track to achieve monthly disbursements of ₹600 crore or more over the next 12 months.