AUM
₹1,40,000+ crore
+23% YoY
AUM crossed ₹1.4 lakh crore, driven by 23% YoY growth across segments.
BAJAJHOUSINGFINANCE
Financial Services
2026-04-??
Bajaj Housing Finance Ltd — Q4 FY26
Bajaj Housing Finance reported a steady Q4 FY26 with AUM crossing ₹1,40,000 crore (up 23% YoY) and PAT of ₹669 crore (+14% YoY; +20% excluding one-time tax benefit).
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Bajaj Housing Finance reported a steady Q4 FY26 with AUM crossing ₹1,40,000 crore (up 23% YoY) and PAT of ₹669 crore (+14% YoY; +20% excluding one-time tax benefit). Asset quality remained healthy with GNPA at 27 bps (stable sequentially) and NNPA at 11 bps. Net interest margin compressed 12 bps sequentially to 3.88% due to lower acquisition pricing and portfolio mix shift, partially offset by a 4 bps decline in cost of funds. Opex-to-NTI improved to 19.2% from 21.8% a year ago. Management guided for FY27 ROA towards the upper end of the 2.0-2.2% medium-term range, expecting further margin compression of ~10 bps offset by opex efficiencies and lower credit costs. Key risk: elevated money market rates and competitive intensity could pressure spreads more than anticipated if policy rates remain unchanged.
Key Numbers
GNPA
27 bps
-2 bps YoY
Gross NPA improved from 29 bps in Q4 FY25, stable sequentially.
Opex-to-NTI
19.2%
-260 bps YoY
Operating efficiency improved significantly from 21.8% in Q4 FY25.
Sambhav monthly disbursements
₹400-425 crore
N/A
Sambhav housing loans averaging ₹400-425 crore monthly disbursements, on track for ₹600 crore+ in 12 months.
Management Guidance
FY27 ROA towards upper end of 2.0-2.2% medium-term range
Management expects ROA to be at the upper end of the medium-term guidance, with margin compression offset by opex efficiencies and lower credit costs.
Management guidance marginsSambhav monthly disbursements to reach ₹600 crore+ in 12 months
Sambhav housing loans are on track to achieve monthly disbursements of ₹600 crore or more over the next 12 months.
Management guidance growthQ1 FY27 NIM likely sideways with slight compression for full year
Net 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.
Management guidance marginsKey Risks
Elevated money market rates without policy rate hike
If money market rates remain high and the RBI does not hike policy rates, the company's ability to pass on higher funding costs to customers will be limited, compressing spreads.
high · management_commentarySustained competitive intensity in home loans
Aggressive pricing by banks, especially PSU banks, kept BT-out rates elevated in Q4 FY26, and if this persists, home loan growth and margins could be pressured.
medium · analyst_questionIHL regulatory compliance risk
The IHL ratio (regulatory definition of home loans as % of total assets) has been contracting and stood at 50.45%, close to the 50% minimum, requiring careful management to avoid regulatory breach.
medium · analyst_questionNotable Quotes
We estimate the quarter four was an exception because normally as per normal process it should have gone stabilized by February, March... But quarter four, February, March, we saw significant high intensity competitive activity in the market on the pricing side from both public sector banks as well as the private sector banks.
We should be in the medium-term range with a bias towards hitting the upper end of the medium range in the ROA.
Irrational competitive activity as a feature not as a novelty so we prepare for that scenario.
Frequently Asked Questions
What was Bajaj Housing Finance's revenue in Q4 FY26?
Bajaj Housing Finance reported revenue of — in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did Bajaj Housing Finance management give for FY27?
FY27 ROA towards upper end of 2.0-2.2% medium-term range: Management expects ROA to be at the upper end of the medium-term guidance, with margin compression offset by opex efficiencies and lower credit costs. Sambhav monthly disbursements to reach ₹600 crore+ in 12 months: Sambhav housing loans are on track to achieve monthly disbursements of ₹600 crore or more over the next 12 months. Q1 FY27 NIM likely sideways with slight compression for full year: Net 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.
What are the key risks for Bajaj Housing Finance in FY27?
Key risks include Elevated money market rates without policy rate hike — If money market rates remain high and the RBI does not hike policy rates, the company's ability to pass on higher funding costs to customers will be limited, compressing spreads.; Sustained competitive intensity in home loans — Aggressive pricing by banks, especially PSU banks, kept BT-out rates elevated in Q4 FY26, and if this persists, home loan growth and margins could be pressured.; IHL regulatory compliance risk — The IHL ratio (regulatory definition of home loans as % of total assets) has been contracting and stood at 50.45%, close to the 50% minimum, requiring careful management to avoid regulatory breach..
Did Bajaj Housing Finance meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Bajaj Housing Finance Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.