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Bajaj Housing Finance Ltd.
(BAJAJHFL)
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Rating:66Neutral
Price Target:
₹91.00
▼(-16.59% Downside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by solid fundamental profitability and growth, supported by a constructive (but risk-aware) earnings-call outlook. These positives are moderated by weaker historical cash-flow consistency and leverage sensitivity, along with mixed technical momentum and a mid-to-high P/E without dividend yield data.
Positive Factors
Strong Loan-Book Growth
Rapid AUM and disbursement growth indicates strong demand for the company’s mortgage products and expanding origination capacity. Sustained loan-book growth can support recurring net interest income, improve operating leverage, and strengthen the company’s competitive position over the next several quarters.
Negative Factors
Elevated Leverage
The leveraged mortgage-lending model can amplify returns, but it also increases sensitivity to funding costs, refinancing conditions, and credit-cycle deterioration. High debt relative to equity leaves less balance-sheet capacity to absorb stress or sustain aggressive expansion during adverse conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Loan-Book Growth
Rapid AUM and disbursement growth indicates strong demand for the company’s mortgage products and expanding origination capacity. Sustained loan-book growth can support recurring net interest income, improve operating leverage, and strengthen the company’s competitive position over the next several quarters.
Read all positive factors
Bajaj Housing Finance Ltd. (BAJAJHFL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹644.92B
Dividend YieldN/A
Average Volume (3M)376.22K
Price to Earnings (P/E)23.0
Beta (1Y)1.23
Revenue Growth17.16%
EPS Growth18.87%
CountryIN
Employees2,372
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)3.37
Shares Outstanding8,332,335,000
10 Day Avg. Volume406,623
30 Day Avg. Volume376,219
Financial Highlights & Ratios
PEG Ratio1.59
Price to Book (P/B)2.71
Price to Sales (P/S)5.47
P/FCF Ratio14.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.57
Revenue Forecast (FY)₹50.19B
Bajaj Housing Finance Ltd. Business Overview & Revenue Model
Company Description
Bajaj Housing Finance Limited is an Indian financial institution specializing in various lending solutions for the real estate sector. The company provides funding to both individual clients and corporate entities looking to acquire or renovate re...
How the Company Makes Money
BAJAJHFL primarily makes money through net interest income and fee-based income associated with originating and servicing mortgage-backed and real-estate-linked loans.
1) Net Interest Income (NII) / Spread income
- Core mechanism: The company bor...
Bajaj Housing Finance Ltd. Earnings Call Summary
Earnings Call Date:Oct 16, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Feb 01, 2027
Earnings Call Sentiment Positive
The call was predominantly positive, supported by 25% year-over-year AUM and disbursement growth, strong first-half profit growth, improving operating efficiency, stable overall asset quality, lower credit costs, and significant progress in Sambhav Housing. However, management highlighted meaningful uncertainties from rising repo rates, potential prime-market pricing pressure, possible higher attrition, expected cost-of-funds increases, insurance commission changes, higher salary expenses, and a modest deterioration in Home Loan asset quality. The highlights significantly outweighed the lowlights.Positive Updates
Landmark AUM Milestone and Strong Growth
AUM crossed INR 1.5 lakh crore and stood at INR 1.58 lakh crore as of 30 September 2026. AUM grew 25% year-over-year, with quarterly AUM addition of approximately INR 8,580 crore versus INR 6,329 crore in Q2 last year.
Negative Updates
Sequential NIM and Portfolio Yield Moderation
NIM moderated by 10 basis points sequentially to 3.7%. Portfolio yield declined 10 basis points from 8.9% in Q1 to 8.8% in Q2.
Read all updates
Q2-2027 Updates
Positive
Negative
Landmark AUM Milestone and Strong Growth
AUM crossed INR 1.5 lakh crore and stood at INR 1.58 lakh crore as of 30 September 2026. AUM grew 25% year-over-year, with quarterly AUM addition of approximately INR 8,580 crore versus INR 6,329 crore in Q2 last year.
Read all positive updates
Company Guidance
Management maintained its yearly AUM growth guidance of 21% to 23% and ROA guidance of 2.1% to 2.3%, while indicating around 25 basis points of NIM compression for the year, with one or two basis points further possible if acquisition pricing pressure is significant; it expects Developer Finance to grow at a rate of around 15%-17% of the portfolio, Sambhav to reach INR 600 crore monthly disbursal run rate by year-end, around 20% of the Home Loan mix in the medium next year, and 30% of the Home Loan mix in the longer term, meaning three years or three and a half year, four years, while 11%-13% of the book will get assigned out and Opex to NTI is intended to be brought down by 1% every year.Bajaj Housing Finance Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
64
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 121.23B | 111.50B | 91.79B | 73.29B | 54.81B | 36.88B |
| Gross Profit | 45.11B | 42.83B | 27.67B | 22.11B | 18.69B | 12.16B |
| EBITDA | 37.88B | 33.67B | 28.15B | 22.04B | 17.36B | 9.88B |
| Net Income | 28.06B | 25.60B | 21.63B | 17.31B | 12.58B | 7.10B |
Balance Sheet | ||||||
| Total Assets | 1.43T | 1.27T | 1.03T | 818.27B | 646.54B | 485.27B |
| Cash, Cash Equivalents and Short-Term Investments | 1.16B | 1.66B | 14.17B | 15.64B | 21.69B | 17.22B |
| Total Debt | 1.18T | 1.04T | 821.23B | 691.29B | 537.45B | 414.92B |
| Total Liabilities | 1.19T | 1.05T | 828.62B | 695.94B | 541.51B | 417.86B |
| Stockholders Equity | 240.23B | 225.23B | 199.47B | 122.33B | 105.03B | 67.41B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 42.95B | -171.16B | -154.71B | -143.66B | -125.10B |
| Operating Cash Flow | 0.00 | 43.26B | -170.75B | -154.28B | -143.32B | -124.81B |
| Investing Cash Flow | 0.00 | -254.19B | -7.98B | 2.73B | -6.11B | 21.97B |
| Financing Cash Flow | 0.00 | 211.97B | 178.70B | 151.25B | 146.30B | 102.28B |
Bajaj Housing Finance Ltd. Technical Analysis
Negative
109.10
Price Trends
82.81
Negative
84.59
Negative
85.61
Negative
Market Momentum
-1.42
Positive
35.87
Neutral
18.27
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAJAJHFL, the sentiment is Negative. The current price of 109.1 is above the 20-day moving average (MA) of 81.37, above the 50-day MA of 82.81, and above the 200-day MA of 85.61, indicating a bearish trend. The MACD of -1.42 indicates Positive momentum. The RSI at 35.87 is Neutral, neither overbought nor oversold. The STOCH value of 18.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BAJAJHFL.
Bajaj Housing Finance Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ₹276.24B | 11.75 | ― | 0.76% | 10.90% | 9.13% | |
66 Neutral | ₹644.92B | 22.97 | ― | ― | 17.16% | 18.87% | |
64 Neutral | ₹84.28B | 11.95 | ― | ― | 12.03% | 16.64% | |
63 Neutral | ₹112.01B | 18.03 | ― | 0.48% | 19.19% | 26.51% | |
61 Neutral | ₹185.00B | 15.99 | ― | ― | 18.04% | 19.18% | |
58 Neutral | ₹272.14B | 4.73 | ― | 2.02% | 0.23% | 4.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:BAJAJHFL
Bajaj Housing Finance Ltd.
77.40
-32.85
-29.80%
IN:AADHARHFC
Aadhar Housing Finance Ltd
422.00
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-17.22%
IN:AAVAS
Aavas Financiers Ltd.
1,062.80
-587.10
-35.58%
IN:HOMEFIRST
Home First Finance Company India Ltd.
1,071.25
-118.48
-9.96%
IN:LICHSGFIN
LIC Housing Finance Ltd
494.75
-65.34
-11.67%
IN:PNBHOUSING
PNB Housing Finance Limited
1,059.20
137.94
14.97%
Bajaj Housing Finance Ltd. Corporate Events
Bajaj Housing Finance posts Q2 FY27 earnings call recording for investors
Oct 16, 2026
Bajaj Housing Finance Limited has updated stock exchanges that it held a conference call on 16 October 2026 to discuss its financial results for the quarter ended 30 September 2026. The company has shared the investor presentation with the exchang...
Bajaj Housing Finance Posts 25% AUM Growth and Higher Q2 Disbursements
Oct 3, 2026
Bajaj Housing Finance Limited reported strong operational growth for the quarter ended 30 September 2026, with gross disbursements rising to approximately ₹19,930 crore in Q2 FY27 from ₹15,914 crore in the same quarter a year earlier. ...
Bajaj Housing Finance Raises Rs 1,985.65 Crore via Secured NCD Issue
Sep 8, 2026
Bajaj Housing Finance Limited has allotted 200,000 secured, redeemable non-convertible debentures on a private placement basis, with a face value of Rs. 100,000 each and an aggregate issue size of Rs. 1,985.6538 crore. The debentures carry a coupo...
Bajaj Housing Finance Updates FY27 Investor Presentation for Analysts
Aug 18, 2026
Bajaj Housing Finance Ltd. has notified the stock exchanges that it has updated its Investor Day presentation with data up to June 2026 for use in upcoming meetings with analysts and institutional investors. The updated deck, positioned under the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.