SRG Housing Finance Ltd

Q2 FY26Finance

SRG Housing Finance Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹264

Market cap₹456 Cr

P/E13.3

Updated23 Aug 2026

Read5 min read

The short version

AUM Growth: Targeted AUM for FY26 is INR 970 crores with plans to reach INR 1,500 crores by 2028, potentially within 1-2 years after FY26 depending on execution (Page 7, 15). The company envisions long-term sustainable growth driven by increasing lender interest, including mutual funds, especially upon achieving an A rating.

From SRG Housing Finance Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

AUM Growth: Targeted AUM for FY26 is INR 970 crores with plans to reach INR 1,500 crores by 2028, potentially within 1-2 years after FY26 depending on execution (Page 7, 15).
Disbursement Guidance: Disbursement target for FY26 is INR 400 crores; quarterly disbursements expected to increase beyond INR 150 crores in Q3 and Q4 (Pages 5, 15, 17).
Branch Expansion: Current branches at 93, expected to increase to 100 by year-end FY26, with cautious expansion limited to 5-10 branches over 2-3 years, focusing on increasing AUM per branch to INR 20-25 crores rather than rapid branch addition (Pages 7, 8).

2 more points management made on revenue & sales performance

Profitability & Margins

The company envisions long-term sustainable growth driven by increasing lender interest, including mutual funds, especially upon achieving an A rating.
Profitability has improved from single-digit to double-digit figures and is expected to continue growing gradually.
Cost-to-income ratio is expected to reduce progressively over coming quarters, enhancing profitability margins.
Net Interest Margin (NIM) is currently around 9%, expected to stabilize in the 9% range.
Disbursement targets for FY26 are INR 400 crores with AUM growth targeted at INR 970 crores, though growth guidance was slightly moderated due to NHB guidelines on LAP exposure.
AUM of INR 1,500 crores is expected to be achieved by 2027-28, reflecting steady expansion.

2 more points management made on profitability & margins

See what SRG Housing Finance Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

No specific mentions of current or future capex or strategic investments were detailed during the Q2 & H1 FY26 post earnings call.
The focus appears to be on organic growth through branch expansion and AUM growth rather than large capital expenditures.
Branch network is projected to grow moderately from 93 to 100 branches by year-end, with only 5-10 new branches over the next 2-3 years, emphasizing increasing AUM per branch (~INR 20-25 crores) instead of rapid branch addition.

2 more points management made on capital expenditure plans

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The company recently completed a fundraise and currently does not foresee the need for additional fundraising until the AUM reaches around INR1,500 to INR2,000 crores.
Fundraising will be done only when needed; the company does not plan to dilute equity prematurely based on market conditions or share prices.
Fundraise and borrowing cost are considered separate; borrowing cost may not reduce immediately after fundraise.

2 more points management made on fundraising & capital structure

See what SRG Housing Finance Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript of SRG Housing Finance Ltd's Q2 & H1 FY26 earnings call on November 14, 2025 does not explicitly mention current or expected order book or pending orders figures. However, relevant insights on business outlook and targets include: - AUM target for FY26 is INR 970 crore; disbursement target is INR 400 crore. - Disbursement guidance for Q3 and Q4 expected to be more than Q2's INR 116 crore. - The company aims for INR 1,000 crore AUM to achieve A rating. - Expansion plan includes increasing branches from 93 to 100 by year-end. - Focus on increasing AUM per branch to INR 20-25 crore before further branch expansion.

2 more points management made on order book & pipeline

What SRG Housing Finance Ltd's management said in earlier quarters

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Frequently Asked Questions

What were SRG Housing Finance Ltd Q2 FY26 results?

What is SRG Housing Finance Ltd share price analysis?

SRG Housing Finance Ltd currently shows a neutral. The stock trades at a P/E of 13.3 with a market cap of ₹456 Cr. Investors should review the full earnings analysis for detailed insights.

Is SRG Housing Finance Ltd planning capital expenditure?

No specific mentions of current or future capex or strategic investments were detailed during the Q2 & H1 FY26 post earnings call.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.