Aadhar Housing Finance
Aadhar Housing Finance
Financial ServicesKey Fundamentals
SmallcapHousing FinanceFinancial ServicesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has delivered good profit growth of 26.6% CAGR over last 5 years
Weaknesses
2- Stock is trading at 2.64 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAadhar Housing Finance Ltd has a market cap of ₹19,818 Cr and trades at a P/E of 17.7x with a P/B of 2.67x. The company has delivered strong compounded profit growth of 25% CAGR over 3 years and 27% over 5 years, while maintaining an ROE of 16-17%. However, the stock has declined 8% over the past year and pays no dividend despite consistent profitability.
- Strong profit growth with 27% compounded profit CAGR over 5 years and 25% over 3 years, indicating sustained earnings momentum
- Healthy revenue growth with compounded sales CAGR of 22% over 3 years and 19% over 5 years, showing consistent business expansion
- Consistent return on equity at 16-17% over the last 3 to 5 years, reflecting efficient capital deployment for a housing finance company
- TTM sales growth of 18% and TTM profit growth of 22% suggest the growth trajectory continues into the most recent period
- P/E of 17.7x is reasonable relative to 22-27% profit growth rates, suggesting earnings growth has kept pace with valuation
- Affordable housing finance segment in India benefits from structural tailwinds including government support through PMAY and urbanisation trends driving long-term demand
- 5-year profit CAGR of 26.6% significantly outpaces the company's current P/E multiple of 17.7x, indicating earnings have grown faster than the valuation premium
- Stock has declined 8% over the past 1 year, underperforming broader market indices and indicating negative price momentum
- Zero dividend yield despite reporting repeated profits, meaning shareholders receive no income return on their investment
- Trading at 2.67x book value, which is elevated for a housing finance company and leaves limited margin of safety if growth slows
- ROE has slightly declined from 17% (3-year and 5-year average) to 16% in the last year, suggesting possible early signs of return compression
- TTM profit growth of 22% has decelerated from the 25% 3-year CAGR and 27% 5-year CAGR, indicating a slowing growth trend
- TTM sales growth of 18% is below the 3-year sales CAGR of 22%, pointing to a moderation in top-line expansion
- Key financial data including debt-to-equity ratio, EPS, and 52-week high/low are unavailable, limiting full visibility into leverage and valuation context
- Housing finance sector in India faces regulatory and asset quality risks, and affordable housing NBFCs can be sensitive to credit cycle deterioration
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- Strong ESG rating of 71 Sep 3
NSE Sustainability assigned Aadhar Housing Finance an ESG rating of 71 for FY26, based on an independent assessment covering environmental, social, and governance metrics.
- Blackstone nominee director appointment Aug 20
Aadhar Housing Finance issued a postal ballot to appoint Blackstone's Nikhil Goyal as non-executive director, with voting opening August 21.
- Investor meet scheduled Sep 1 Aug 20
Management will present at the ELARA group meeting at Grand Hyatt, Mumbai on September 1, 2026, using the July 31 investor deck.
TL;DR: Aadhar Housing Finance shows positive momentum on the ESG front with a solid 71 rating from NSE Sustainability for FY26, which could attract sustainability-focused investors. No material headwinds surfaced in the recent news cycle. Board-level changes reflect continued Blackstone involvement, and upcoming investor engagement signals management's focus on transparency. The near-term outlook appears stable with no red flags, though investors should watch for any operational or asset-quality updates at the September 1 meet.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 593 | 629 | 673 | 692 | 713 | 764 | 798 | 833 | 848 | 897 | 943 | 985 | 993 |
| Expenses | 166 | 132 | 156 | 166 | 173 | 180 | 187 | 197 | 207 | 208 | 214 | 240 | 248 |
| Financing Profit | 192 | 258 | 266 | 264 | 263 | 299 | 314 | 321 | 309 | 348 | 382 | 401 | 368 |
| Fin. Margin % | 32% | 41% | 40% | 38% | 37% | 39% | 39% | 39% | 36% | 39% | 40% | 41% | 37% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 2 | -15 | 8 | 4 |
| Interest | 235 | 239 | 251 | 262 | 277 | 285 | 297 | 315 | 332 | 342 | 348 | 343 | 376 |
| Depreciation | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 11 | 9 |
| PBT | 187 | 253 | 261 | 259 | 257 | 292 | 308 | 316 | 305 | 343 | 360 | 398 | 364 |
| Tax % | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% |
| Net Profit | 146 | 197 | 204 | 202 | 200 | 228 | 239 | 245 | 237 | 266 | 281 | 311 | 282 |
| EPS in Rs | 3.71 | 5 | 5.17 | 5.11 | 4.69 | 5.29 | 5.56 | 5.68 | 5.49 | 6.15 | 6.48 | 7.14 | 6.46 |
| Gross NPA % | 1.46% | 1.4% | 1.4% | 1.1% | 1.31% | 1.3% | 1.36% | 1.05% | 1.34% | 1.4% | 1.38% | 1.08% | 1.31% |
| Net NPA % | 1.1% | 0.9% | 0.97% | 0.7% | 0.9% | 0.9% | 0.95% | 0.7% | 1% | — | 1.01% | 0.8% | 0.9% |
Profit & Loss
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,266 | 1,388 | 1,575 | 1,728 | 2,043 | 2,587 | 3,109 | 3,683 | 3,817 |
| Expenses | 276 | 350 | 316 | 387 | 507 | 619 | 736 | 868 | 910 |
| Financing Profit | 258 | 245 | 444 | 580 | 737 | 981 | 1,199 | 1,451 | 1,499 |
| Fin. Margin % | 20% | 18% | 28% | 34% | 36% | 38% | 39% | 39% | 39% |
| Other Income | -14 | -2 | 0 | 0 | -25 | 0 | 0 | -13 | 0 |
| Interest | 732 | 793 | 816 | 761 | 799 | 987 | 1,174 | 1,364 | 1,409 |
| Depreciation | 9 | 12 | 11 | 13 | 16 | 21 | 25 | 32 | 34 |
| PBT | 235 | 231 | 433 | 567 | 696 | 960 | 1,173 | 1,406 | 1,464 |
| Tax % | 31% | 18% | 21% | 22% | 22% | 22% | 22% | 22% | — |
| Net Profit | 162 | 189 | 340 | 445 | 545 | 750 | 912 | 1,096 | 1,141 |
| EPS in Rs | 64.37 | 47.99 | 8.62 | 11.27 | 13.8 | 18.99 | 21.14 | 25.15 | 26.23 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 39 | 395 | 395 | 395 | 395 | 431 | 436 |
| Reserves | 834 | 2,308 | 2,298 | 2,752 | 3,303 | 4,055 | 5,941 | 7,105 |
| Borrowing | 8,195 | 9,643 | 10,374 | 10,675 | 12,153 | 13,960 | 16,322 | 18,744 |
| Other Liabilities | 426 | 376 | 563 | 554 | 766 | 683 | 529 | 1,114 |
| Total Liabilities | 9,480 | 12,366 | 13,630 | 14,376 | 16,618 | 19,093 | 23,224 | 27,399 |
| Fixed Assets | 42 | 44 | 53 | 55 | 63 | 80 | 92 | 138 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 150 | 24 | 497 | 338 | 459 | 462 | 513 | 637 |
| Other Assets | 9,289 | 12,298 | 13,080 | 13,982 | 16,095 | 18,551 | 22,618 | 26,624 |
| Total Assets | 9,480 | 12,366 | 13,630 | 14,376 | 16,618 | 19,093 | 23,224 | 27,399 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | -2,554 | -1,785 | -1,202 | -907 | -1,156 | -2,550 | -3,027 | -2,808 |
| Investing | -49 | -1,495 | -480 | 823 | -477 | 723 | 160 | 309 |
| Financing | 3,356 | 3,701 | 701 | 275 | 1,463 | 1,778 | 3,389 | 2,336 |
| Net Cash Flow | 754 | 422 | -981 | 191 | -169 | -49 | 522 | -164 |
| Free Cash Flow | -2,562 | -1,788 | -1,207 | -918 | -1,166 | -2,565 | -3,041 | -2,827 |
| CFO/OP | -250 | -165 | -88 | -59 | -66 | -118 | -117 | -89 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| ROE % | 20% | 12% | 14% | 15% | 16% | 18% | 17% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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52 extracted metrics + investor summaries across FY19–FY27.
Documents
Frequently Asked Questions about Aadhar Housing Finance
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Company Information
Aadhar Housing Finance Ltd is one of the largest low-income housing finance companies in India servicing the home financing needs of the low income sections of the society. [1]
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