Bajaj Housing Finance

Bajaj Housing Finance reported a steady Q4 FY26 with AUM crossing ₹1,40,000 croreCurrent ₹1,40,000 crore. Reported change: +23% YoY. (up 23% YoY) and PAT of ₹669 croreCurrent reported value: ₹669 crore. No comparable prior figure is available in the source record. (+14Current reported value: 14. No comparable prior figure is available in the source record.% YoY; +20% excluding one-time tax benefit). Asset quality remained healthy with GNPA at 27 bpsCurrent 27 bps. Reported change: -2 bps YoY. (stable sequentially) and NNPA at 11 bpsCurrent reported value: 11 bps. No comparable prior figure is available in the source record.. Net interest margin compressed 12 bps sequentially to 3.88%Current reported value: 3.88%. No comparable prior figure is available in the source record. 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%Current 19.2%. Reported change: -260 bps YoY. 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.