BAJAJHFL / Q2-FY25 / claim-ledger

Audit the questions that mattered.

Bajaj Housing Finance · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY25 · 2024-10-22Back to quarter ↗

Questions audited

Answered directly

77%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Raghav Garg · Ambit Capital

partial

Disbursement growth in home loan segment for Q2 and H1.

On the retail side, the disbursement growth was close to 7%, while on the commercial side, the de-growth was of 9% on a YOY number.

Raghav Garg · Ambit Capital

evasive

Outlook for retail disbursement growth for full year.

we are still in regulatory silent period... we will be, by and large stable. We are not seeing any major changes in the disbursements as we go forward.

Raghav Garg · Ambit Capital

partial

How much further can cost of borrowing increase?

the implication of either the earlier low term, low-cost NCD maturing or the re-pricing, the peaking out of the pass-through in the cost front, that has happened.

Deepak Gupta · SBI Pension Funds

direct

Percentage of loans sourced from Bajaj Housing vs Bajaj Finance branches.

the entire sourcing by BFL, not by, BFL... the ETB mix or the Bajaj mix... that sourcing in the home loan side will be between 12 to 15% kind of a sourcing mix

Viral Shah · IIFL Securities

direct

Employee count reduction and off-role employee data.

the reduction in the on-role employees... would be close to 252... while on the contractual side, increase would be 700. So net increase of close to 400-450.

Piran Engineer · CLSA

direct

Percentage of floating rate loans repo-linked vs internal benchmark.

close to 15,000 crore could be repo, 13,000 crore of core asset book would be repo-linked, which is match-funded by repo-linked liabilities

Abhishek Murarka · HSBC

direct

Normalized run rate of provisions after overlay exhaustion.

the discretionary overlay remains only at 10 crore... credit cost has been behind us in range of a 14-17 basis points... that's what normally we should be looking at

Subhranshu Mishra · PhillipCapital

partial

Unique developer relationships and exposure to luxury housing.

451 are unique developers... 264 are the unique relationships.

Kunal Shah · Citigroup

direct

Ticket size comfort and provisioning for LRD and developer finance.

the provisioning in the Stage 1 is INR 85 crores... 0.61% kind of a ECL provisioning is significantly higher... we believe 0.61% and 0.62% at a Stage 1 assets provisioning is a reasonable bit.

Pranav Gupta · Aionios Alpha Investment Advisors

direct

Long-term ROA and optimal leverage over 3-5 years.

We believe eight is the leverage which is a sustainable leverage metric... ROEs had been in the range of between 2.3% to 2.5%

Rahil Shah · HSBC

direct

Indicative yields on home loan, LAP, construction finance, LRD.

home loan between close to 8.8-9.2, on a loan against property between 10-10.5 broadly. On lease rental discounting between 8.5-9... developer finance between 11.5-12.5 or 13.

Jigar Jani · B&K Securities

direct

Minimum PCR on Stage 1 and Stage 3 assets.

the range bound will be 50-60%... for Stage 1, like I called out, the number remains stable.