Q1-FY26 · Atul Jain
Due to heightened competitive activity, pricing on the acquisition, higher portfolio attrition, and benign real estate market, AUM growth assessment for FY2026 is now expected to be in the range of 21% to 23%.
BAJAJHFL / language trends
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Bajaj Housing Finance · tone and specificity signals across the available quarters.
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Q1-FY26 · Atul Jain
NII is expected to remain stable and in line with FY2025. While NIM or NTI may moderate by 15-20 basis points.
Q1-FY26 · Atul Jain
Our hope would be that by end of quarter three or so, we should be able to go back to [medium-term growth], that's why we have not changed our medium-term guidance.
Q2-FY25 · Atul Jain
We are constructed for scale, and that is where prime housing and lease rental discounting works as a scale builder for the company.
Q2-FY25 · Atul Jain
We remain bullish on lease rental discounting, because in our assessment, this has remained always a very low-risk business and a scale business.
Q2-FY25 · Atul Jain
Our internal view as of today would not to exceed 15 odd% kind of a mix in this business (construction finance), as we even go forward.
Q2-FY26 · Atul Jain
We do not believe in cutting the price, but we believe in always being competitive in the market.
Q2-FY26 · Atul Jain
Our model is scale, low risk, and medium return, or a reasonable return. We do not say it's a scale, low risk, and low return.
Q2-FY26 · Atul Jain
Cost of funds is not very different for a well-run, high-quality credit company is my assessment, and we continue to remain focused.
Q3-FY25 · Atul Jain
We estimate in the medium term 24%-26% AUM growth. OPEX to net total income to go down to 14%-15%.
Q3-FY25 · Atul Jain
Our penetration in our projects in terms of would be close to 16%-18% as of today. We would prefer to be having a higher.
Q3-FY25 · Atul Jain
We have work to do to improve our efficiency in capturing the market where we are funding the projects.
Q3-FY26 · Atul Jain
We feel the competitive intensity is a feature, not a novelty in the market.
Q3-FY26 · Atul Jain
Our anchor product remains always a low-risk which is a prime housing as well as a Lease Rental Discounting.
Q3-FY26 · Atul Jain
We are hoping for that our home loan teams will disburse far more than what they are disbursing.
Q4-FY25 · Atul Jain
We are only a credit risk company, which we have to take a credit risk because we are in a lending business. Apart from that, we don't want to take an interest rate risk.
Q4-FY25 · Atul Jain
Our estimate is to assuming that two cuts which has happened and one cut more happens, YoY I think we should see a drop 34-35 basis points roughly.
Q4-FY25 · Atul Jain
There is no change in the medium term guidance on the key financial indicators what we had guided from last quarter's investor presentation.
Q4-FY26 · Atul Jain
We consider irrational competitive activity as a feature, not as a novelty. We prepare for that scenario.
Q4-FY26 · Atul Jain
We should be towards the upper end of the medium-term guidance, may not beat that.
Q4-FY26 · Atul Jain
If there is a policy rate hike, it has never happened that there is no pass-through has happened. The pass-through may not be full, but it is not a scenario where banks or anyone will not pass through.