Bajaj Housing Finance Limited Earnings Summary — Q4 FY2026
Bajaj Housing Finance reports Q4 FY2026 PAT growth with healthy AUM and stable asset quality
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 10 consecutive quarters.
- Revenue of ₹3,063 Cr is 17.1% higher year-on-year.
- Revenue has compounded at 21.0% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹715 Cr is 22.6% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 32.3% annualised across the period.
- Operating margin stands at 92.4% in Q1 FY2027.
- Operating margin expanded by 174 bps year-on-year.
- Over the last two years operating margin has expanded by 10 bps.
- PBT margin is 30.3%.
- Expense growth of -4.7% remained below revenue growth of 17.1%.
- Operating profit of ₹2,830 Cr is 19.3% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 84/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 3,063 | 2,903 | 2,884 | 2,755 | 2,616 | 2,504 | 2,449 | 2,410 | 2,209 | 1,996 |
| Expenses | Stable | 233 | 262 | 261 | 253 | 244 | 222 | 210 | 179 | 170 | 219 |
| Operating Profit | Improving | 2,830 | 2,640 | 2,623 | 2,502 | 2,371 | 2,282 | 2,239 | 2,231 | 2,038 | 1,778 |
| Operating Margin | Stable | 92.4% | 91.0% | 91.0% | 90.8% | 90.7% | 91.1% | 91.4% | 92.6% | 92.3% | 89.0% |
| Other Income | Volatile | 0 | 0 | -13 | 0 | 3 | 0 | 0 | 0 | 0 | 0 |
| Interest | Improving | 1,888 | 1,762 | 1,734 | 1,658 | 1,606 | 1,551 | 1,516 | 1,514 | 1,399 | 1,279 |
| Depreciation | Stable | 13 | 13 | 12 | 12 | 11 | 11 | 10 | 10 | 10 | 10 |
| Profit Before Tax | Improving | 929 | 866 | 865 | 833 | 757 | 720 | 713 | 708 | 630 | 488 |
| Tax | Improving | 213 | 197 | 200 | 190 | 174 | 133 | 165 | 162 | 147 | 107 |
| Net Profit | Improving | 715 | 669 | 665 | 643 | 583 | 587 | 548 | 546 | 483 | 381 |
| Net Margin | Stable | 23.4% | 23.1% | 23.1% | 23.3% | 22.3% | 23.4% | 22.4% | 22.6% | 21.9% | 19.1% |
Key Takeaways
- Attained status as the 2nd largest HFC in India within only 7 years of operations.
- Assets Under Management (AUM) reached a massive ₹1,33,412 Cr, reflecting a 23% YoY growth rate.
- Maintains industry-leading asset quality with ‘significantly lower’ GNPA/NNPA compared to traditional HFC peers.
- Strategically shifted AUM mix toward Lease Rental Discounting and Developer Finance to optimize ROA.
- Leverages the prestigious 'Bajaj' brand to maintain a lower cost of funds and high credit ratings (CRISIL AAA).
- Successfully transitioned into a listed entity, significantly bolstering the capital base for expansion.
- Focused on 'upper-middle-class' salaried individuals and prime commercial assets to minimize credit costs.
Management Guidance
Management is focused on maintaining high operating leverage where AUM growth outstrips operating expense growth. The strategy targets a 'middle-of-the-pyramid' to 'top-of-the-pyramid' customer profile to ensure high credit quality.
Sentiment Shift
Improving
The transition from a subsidiary to a listed market leader with exponential AUM growth and disciplined credit costs signals a strong upward trajectory.
Outlook
The company is positioned as a 'High Quality Compounder' with a focus on diversifying its asset mix. Recent large-scale NCD allotments totaling over ₹6,000 crore in Q1 FY27 suggest aggressive liquidity building for future disbursements.
From the Annual Report (Key Quotes)
“Exponential scale with controlled credit costs.”
“Raw power of the Bajaj ecosystem.”
“Conservative in risk, aggressive in execution.”
Official Quarterly Documents
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This summary is AI-generated from Bajaj Housing Finance Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.