Bajaj Housing Finance Limited — Investor Meet, 28-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Bajaj Housing Finance (BHFL) Q1 FY26 saw AUM up 24% and PAT up 21% to Rs 583 Cr. Asset quality remains healthy with GNPA at 30 bps.

FY26 AUM growth is now assessed at 21-23% (vs. medium-term 24-26%) due to intense competition, higher attrition from recent rate cuts, and real estate market moderation. Net Interest Income (NII) is expected to remain stable. However, Net Interest Margin (NIM) may moderate by 15-20 bps, mainly due to lower non-interest income from reduced investment gains and planned loan assignments.

BHFL is investing in newly launched segments and non-metro markets, anticipating growth normalization by Q3 FY26 as attrition pressures stabilize. Management notes robust demand in near-prime and affordable housing segments.