Aadhar Housing Finance Ltd

- No specific mention of immediate or planned equity fundraising in the transcript. - Incremental borrowings in Q2 FY '26 were around Rs. 1,800 crores at slightly lower than 8% cost. - Borrowings as of September 30, 2025, stood at Rs. 17,600 crores with a well-diversified borrowing mix. - Undrawn sanctions as of September 30, 2025, were Rs. 2,381 crores, including Rs. 1,250 crores from NHB. - Management expects benefits from credit rating upgrades (AA+), which will facilitate access to longer-tenor debt, including insurance and pension funds, leading to potentially 20-25 bps lower incremental borrowing costs. - The rating outlook was changed from stable to positive, but timing for further rating upgrades by agencies like ICRA is uncertain. - Leverage is planned to increase moderately to around 3x in a slow and steady manner, to support growth while maintaining liquidity and credit quality.

The transcript does not explicitly mention any current or planned capex, capital investment, or strategic investment by Aadhar Housing Finance Limited. However, some related points can be inferred: - Branch Expansion: The company continues to add branches, with plans to add 50-55 branches in FY '26, including 15 in urban metros and 35 in emerging locations. This indicates ongoing investment in physical infrastructure. - Technology Investment: The company emphasizes digital transformation, including a TCS-Enabled Core System to streamline loan lifecycle processes and enhancements in data analytics using AI and machine learning. - Focus on Emerging Markets: Strategic focus on underserved and emerging markets, supported by analytics and zonal targeting. - No specific mention of large-scale capex or strategic investments like acquisitions or joint ventures in the provided text. In summary, the company's capital allocation appears focused on branch network expansion and technology upgrades rather than major new strategic investments.

- Aadhar Housing Finance targets a 20%-22% growth in AUM for FY '26. - Disbursements are expected to grow at approximately 18% annually. - The company plans to add 50-55 new branches in FY '26, with 15 in urban metros and 35 in emerging markets. - The urban-emerging branch mix aims to reach a 50-50 balance, with emerging branches currently numbering around 475. - Momentum in disbursements is expected to be stronger in the second half of FY '26, following typical industry patterns (H1 typically 40-43%, H2 57-60%). - Positive market tailwinds include GST 2.0 reforms reducing construction costs, PMAY 2.0, and Agnicart 2025 government schemes facilitating affordable housing demand. - Technology-led efficiency improvements and data analytics are expected to support scalable growth. - Management remains confident of achieving guidance figures and sustaining a steady growth trajectory.

- Aadhar Housing Finance Limited expects a profit growth of about 18%-20% for FY '26. - The company has guided for an overall AUM growth of 20%-22% for FY '26. - Disbursements are expected to grow around 18% for FY '26, aligning with AUM growth targets. - Cost-to-income ratio is targeted to reduce by approximately 40 bps in the financial year. - Spread is currently at 5.9%, with a slight expected dip to around 5.8% by year-end due to MCLR pass-on. - Incremental benefits from credit rating upgrades (AA+ outlook) are anticipated to improve funding costs by 10-25 bps, mainly in the next financial year, supporting earnings growth. - Overall, consistent and steady organic growth is expected with a focus on improving profitability and financial inclusion.

The provided transcript from Aadhar Housing Finance Limited's earnings call does not mention any information regarding the company's current or expected order book or pending orders. The discussion primarily focuses on: - Asset quality and stress in specific regions - Branch expansion strategy - Leverage plans for improving ROE - Competition and pricing strategy - Disbursement growth and market conditions - Collection efficiency and asset quality metrics No details related to an order book or pending orders are disclosed in the transcript.