Bajaj Housing Finance Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹64,894 Cr
- P/E
- 23.03
- ROE
- 12.11%
- PEG
- 0.85
- Price to sales
- 5.36
- Debt to equity
- 4.92
- 52W high / low
- ₹111 / ₹73.1
- Sales growth (5Y)
- 28.72%
- EBITDA margin
- 91.59%
- Net profit margin
- 23.06%
- Promoter holding
- 86.70%
- Sales (last year)
- ₹12,100 Cr
Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans.[1]It is a 100% subsidiary of Bajaj Finance Limited — one of the most diversified NBFCs in the Indian market. BHFL offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes. BHFL also offers finance to developers engaged in the construction of residential and commercial properties as well as lease rental discounting to developers and HNIs.[2]
Guidance scorecard · Q2 FY27 call
What Bajaj Housing Finance Ltd's management guided
and where it ranks in Finance
RevenueQ1 FY27 call
10–20%- Industry growth for home loans was 9.4% in FY26; expected to stay in the 9%-10.5% range for FY27, slightly muted compared to historical 11%-12% growth.
- Demand dynamics are stabilized or slightly muted due to real estate price stabilization, reducing pre-ponement of demand seen in previous years.
- Portfolio disbursements have sharply increased, with Sambhav Housing's monthly disbursement rising from INR410-425 crores in Q4 to INR450-465 crores in Q1, targeting over INR600 crores in next 9 months.
- Growth driven partly by widening and deepening in prime home loans with commercial businesses performing well.
- Company growth is modest relative to overall market size; gains come from capturing a slightly larger share of expanding market rather than taking share from competitors.
2 more points from Bajaj Housing Finance Ltd's call on revenue
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MarginsQ1 FY27 call
Down 0–2%See what Bajaj Housing Finance Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
- Deployment of AI initiatives to improve internal controllership and efficiencies.
- Enhancements in customer experience and seamless mortgage journey through technology.
- Implementation of voice agents for lead generation, credit personal discussion call intelligence, collateral assessment intelligence, geo-analytics, AI customer assist platform, training platform, and AI interview agent for frontline hiring.
- These technology investments aim to improve conversion rates, underwriting evidence, reduce collateral risk, and enhance capability building, indicating strategic investment in tech infrastructure rather than physical or large-scale capital expenditure…
FundraisingQ1 FY27 call
See what Bajaj Housing Finance Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The discussion primarily focuses on topics such as loan portfolio mix, disbursement figures, credit costs, market dynamics, margins, yield, and attrition rates.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,742 Cr | 71.8 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 23.9 | |
| 3 | 40%+ | Up 0–2% | ₹961 Cr | 32.7 | |
| 4 | 40%+ | Flat | ₹23,820 Cr | 21.1 | |
| 5 | 40%+ | Flat | ₹16,498 Cr | 72.4 | |
| 6 | 40%+ | Flat | ₹15,549 Cr | — |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingBajaj Housing Finance Ltd announcements
All announcements →- Fundraise / allotmentNotableBajaj Housing Finance allots ₹807.82 crore NCDs on private placement basis
Financials of Bajaj Housing Finance Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Bajaj Housing Finance Ltd
Shareholding breakup across reporting periods.
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 88.75% | 88.75% | 88.75% | 88.70% | 88.70% | 86.70% | 86.70% | 86.70% | 86.70% |
| FIIs + | 1.68% | 1.11% | 1.12% | 1.04% | 0.91% | 0.94% | 0.99% | 0.90% | 0.90% |
| DIIs + | 1.83% | 0.82% | 0.72% | 0.59% | 0.54% | 1.39% | 1.18% | 1.00% | 1.09% |
| Government + | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public + | 7.63% | 9.32% | 9.40% | 9.61% | 9.81% | 10.92% | 11.10% | 11.34% | 11.26% |
| Others + | 0.00% | 0.00% | 0.00% | 0.05% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
| No. of Shareholders | 23,09,518 | 26,45,574 | 26,05,368 | 25,10,340 | 24,45,280 | 24,28,409 | 23,64,074 | 23,15,861 | 22,42,947 |
Financials of Bajaj Housing Finance Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 1,911 | 1,946 | 1,996 | 2,209 | 2,410 | 2,449 | 2,504 | 2,616 | 2,748 | 2,884 | 2,903 | 3,063 | 3,251 |
| Interest | 1,151 | 1,200 | 1,279 | 1,399 | 1,514 | 1,516 | 1,551 | 1,606 | 1,658 | 1,734 | 1,762 | 1,888 | 1,997 |
| Expenses + | 176 | 164 | 219 | 170 | 179 | 210 | 222 | 244 | 246 | 261 | 262 | 233 | 261 |
| Financing Profit | 585 | 582 | 498 | 640 | 718 | 723 | 731 | 765 | 844 | 890 | 878 | 942 | 993 |
| Financing Margin % | 31% | 30% | 25% | 29% | 30% | 30% | 29% | 29% | 31% | 31% | 30% | 31% | 31% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | -13 | 0 | 0 | 1 |
| Depreciation | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 13 | 13 |
| Profit before tax | 575 | 572 | 488 | 630 | 708 | 713 | 720 | 757 | 833 | 865 | 866 | 929 | 980 |
| Tax % | 22% | 24% | 22% | 23% | 23% | 23% | 18% | 23% | 23% | 23% | 23% | 23% | 23% |
| Net Profit + | 451 | 437 | 381 | 483 | 546 | 548 | 587 | 583 | 643 | 665 | 669 | 715 | 757 |
| EPS in Rs | 0.67 | 0.65 | 0.57 | 0.62 | 0.66 | 0.66 | 0.70 | 0.70 | 0.77 | 0.80 | 0.80 | 0.86 | 0.91 |
| Gross NPA % | 0.24% | 0.25% | 0.27% | 0.28% | 0.29% | 0.29% | 0.29% | 0.30% | 0.26% | 0.27% | 0.27% | 0.29% | 0.29% |
| Net NPA % | 0.09% | 0.10% | 0.10% | 0.11% | 0.12% | 0.13% | 0.11% | 0.13% | 0.12% | 0.11% | 0.11% | 0.12% | 0.12% |
Financials of Bajaj Housing Finance Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Revenue + | 265 | 3,155 | 3,767 | 5,665 | 7,617 | 9,554 | 11,150 | 12,100 |
| Interest | 162 | 1,968 | 2,157 | 3,213 | 4,695 | 5,981 | 6,761 | 7,381 |
| Expenses + | 44 | 552 | 624 | 718 | 721 | 759 | 1,007 | 1,017 |
| Financing Profit | 59 | 635 | 986 | 1,733 | 2,201 | 2,814 | 3,381 | 3,702 |
| Financing Margin % | 22% | 20% | 26% | 31% | 29% | 29% | 30% | 31% |
| Other Income + | -0 | 0 | -0 | 0 | -0 | -2 | -14 | -12 |
| Depreciation | 2 | 22 | 26 | 33 | 40 | 41 | 47 | 51 |
| Profit before tax | 57 | 613 | 960 | 1,700 | 2,161 | 2,770 | 3,320 | 3,639 |
| Tax % | 26% | 26% | 26% | 26% | 20% | 22% | 23% | |
| Net Profit + | 42 | 453 | 710 | 1,258 | 1,731 | 2,163 | 2,560 | 2,806 |
| EPS in Rs | 0.09 | 0.93 | 1.45 | 1.87 | 2.58 | 2.60 | 3.07 | 3.37 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Bajaj Housing Finance Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 488 | 4,883 | 4,883 | 6,712 | 6,712 | 8,328 | 8,329 | 8,329 |
| Reserves | 70 | 1,149 | 1,858 | 3,791 | 5,521 | 11,619 | 14,194 | 15,694 |
| Borrowing | 2,560 | 31,601 | 41,492 | 53,745 | 69,129 | 82,072 | 103,704 | 118,259 |
| Other Liabilities + | 19 | 226 | 293 | 406 | 464 | 790 | 920 | 930 |
| Total Liabilities | 3,137 | 37,858 | 48,527 | 64,654 | 81,827 | 102,809 | 127,147 | 143,212 |
| Fixed Assets + | 9 | 79 | 97 | 113 | 123 | 141 | 154 | 159 |
| CWIP | 0 | 0 | 1 | 0 | 1 | 1 | 0 | 0 |
| Investments | 251 | 3,266 | 1,248 | 2,001 | 1,939 | 2,533 | 2,502 | 2,377 |
| Other Assets + | 2,878 | 34,513 | 47,180 | 62,540 | 79,765 | 100,134 | 124,491 | 140,675 |
| Total Assets | 3,137 | 37,858 | 48,527 | 64,654 | 81,827 | 102,809 | 127,147 | 143,212 |
Financials of Bajaj Housing Finance Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -1,024 | -5,076 | -12,481 | -14,332 | -14,600 | -17,075 | -19,895 |
| Cash from Investing Activity + | -69 | -797 | 2,197 | -611 | -555 | -798 | -1,202 |
| Cash from Financing Activity + | 1,149 | 5,676 | 10,228 | 14,630 | 15,125 | 17,870 | 21,197 |
| Net Cash Flow | 55 | -197 | -55 | -313 | -30 | -2 | 100 |
| Free Cash Flow | -1,027 | -5,089 | -12,508 | -14,362 | -14,640 | -17,111 | -19,938 |
Financials of Bajaj Housing Finance Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| ROE % | 8% | 14% | 11% | 15% | 15% | 13% | 12% |
Guidance history
How Bajaj Housing Finance Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Down 0–2% | — | — | — |
| Q4 FY26 call → | 20–40% | Down 0–2% | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Down 0–2% | Planned | — | — |
| Q2 FY26 call → | 20–40% | Down 0–2% | — | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
16 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −29.6% | 23% |
| Last 6 months | −10.6% | 35% |
| Last 3 months | −9.9% | 40% |
The price is 52.4% below its all-time high of ₹163.73 (20 Sept 2024). Stocks more than 20% below their peak have their score halved, so 31 became 16.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bajaj Housing Finance Ltd: 0.4 × 23 + 0.4 × 35 + 0.2 × 40 = 31, halved to 16 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Bajaj Housing Finance Ltd's management said in earlier quarters
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