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Bajaj Housing Finance

BAJAJHFL NSE
₹81.42 +3.23 (+4.13%)
P/E
25.21
View as Markdown
MCP
Close 4 Nov 2026 ₹81.42 −27.96 −25.6% 1Y
Start ₹109.38

Key Fundamentals

MidcapFinanceFinancial Services

Price-based figures as of · EPS basis: Standalone · TTM

Debt to Equity
4.60
EPS (TTM)
₹3.23
Book Value
₹28.84
Market Cap
—
P/E (TTM)
25.21
P/B
2.82
ROE
12.10%
Dividend Yield
0.00%
52W High
₹110.50
52W Low
₹72.65
Day Range
₹77.82 – ₹81.89
Volume
43,09,241
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Housing Finance › Housing Finance Company

Bajaj Housing Finance peer comparison
Bajaj Housing Finance (this company)
₹81.4225.21₹65,542 Cr2.820.00%12.10%—₹11,604 Cr₹2,692 Cr
Piramal Finance
₹1,946.20—₹45,625 Cr1.490.58%0.86%6.47%₹13,357 Cr₹1,909 Cr
LIC Housing Finance
₹520.004.98₹28,072 Cr0.651.98%14.40%—₹28,562 Cr₹5,739 Cr
PNB Housing Finance
₹1,082.0011.99₹28,029 Cr1.390.75%12.90%—₹8,700 Cr₹2,350 Cr
Aadhar Housing Finance
₹431.2016.44₹18,689 Cr2.520.00%15.90%—₹3,817 Cr₹1,140 Cr
Sammaan Capital
₹125.98—₹14,065 Cr0.821.67%−3.21%—₹7,418 Cr−₹7,236 Cr
Home First Finance Company
₹1,082.3019.38₹11,147 Cr2.430.49%15.70%—₹1,999 Cr₹581 Cr
Median 7 companies₹520.0016.44₹28,029 Cr1.490.58%12.90%6.47%₹8,700 Cr₹1,909 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

38 Weak

Data confidence 94/100

Category scores

Quality
31
Poor
Returns, margins, earnings quality 22% weight
Valuation
40
Weak
Cheap vs sector & own history 24% weight
Growth
56
Good
Sales & profit trajectory 9% weight
Financial Health
27
Poor
Solvency, leverage, coverage 9% weight
Momentum
30
Poor
Trend strength, vol-adjusted 12% weight
Ownership
46
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 41.5% CAGR over last 5 years

Weaknesses

5
  • Stock is trading at 3.06 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 13.3% over last 3 years.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
52.78
Neutral
MACD (12,26,9)
−1.18
Bullish
SMA (50)
82.32
Bearish
SMA (200)
85.26
Bearish

As of

Analyst Rating

Based on 16 analysts
TIED38%

6 of 16 analysts rate Buy, 6 Hold, 4 Sell.

As of

BUY
6
38%
HOLD
6
38%
SELL
4
25%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+28.72%
3Y+25.32%
1Y+16.71%
TTM+16.29%

Net profit

Net profit growth by window
5Y+41.39%
3Y+26.72%
1Y+18.35%
TTM+18.90%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2020₹265 Cr
Mar 2021₹3,155 Cr
Mar 2022₹3,767 Cr
Mar 2023₹5,665 Cr
Mar 2024₹7,617 Cr
Mar 2025₹9,554 Cr
Mar 2026₹11,150 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2020₹42.00 Cr
Mar 2021₹453 Cr
Mar 2022₹710 Cr
Mar 2023₹1,258 Cr
Mar 2024₹1,731 Cr
Mar 2025₹2,163 Cr
Mar 2026₹2,560 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹3.65 +18.8% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Bajaj Housing Finance Ltd trades at ₹78.19 per share as of 2026-11-03 with a market cap of ₹65,259 Cr, a trailing P/E of 24.21 and a P/B of 2.71. The company has delivered strong 5-year profit CAGR of 41% but its stock has declined 26% over the past year, and it pays no dividend.

Bull Case 6
  • Strong long-term profit growth with a 5-year compounded profit CAGR of 41%, well above typical housing finance peers
  • Healthy 5-year compounded sales CAGR of 29%, indicating sustained loan book expansion
  • 3-year compounded profit growth of 27% demonstrates continued earnings momentum beyond a single cycle
  • TTM revenue growth of 16% shows the company continues to expand its top line even as scale increases
  • TTM EPS of ₹3.23 against a trailing P/E of 24.21 suggests the stock is not at extreme valuation territory relative to its growth history
  • Part of the Bajaj Group, which carries a well-recognised parentage in Indian financial services, supporting funding access and brand trust
Bear Case 8
  • The stock has declined 26% over the past one year, reflecting significant negative price momentum
  • P/B ratio of 2.71 (known cons cite 3.06x book value) is elevated for a housing finance company with a 3-year average ROE of only 13%, limiting the return spread over cost of equity
  • Zero dividend yield despite repeated profitability means shareholders rely entirely on capital appreciation for returns
  • Low interest coverage ratio raises concerns about the company's ability to comfortably service its borrowing costs under stress scenarios
  • ROE has trended flat to lower — 13% on a 3-year and 5-year basis but only 12% last year — suggesting returns on equity are not scaling with growth
  • TTM profit growth of 19% marks a meaningful deceleration from the 27% three-year and 41% five-year compounded profit growth rates
  • Potential capitalisation of interest costs could mean reported profits overstate true economic earnings, distorting the P/E of 24.21
  • ROCE of 8.44% is modest for a financial services company, indicating limited efficiency in deploying total capital

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Bajaj Housing Finance delivered solid Q2 FY27 growth with 18% profit expansion and 25% AUM growth, supported by improving cost efficiency and stable net NPA at 0.12%. The ₹3,003 crore NCD raise signals continued balance-sheet expansion. The operational trajectory is positive, but re-rating depends on sustained asset quality and broader market sentiment toward housing financiers.

Headwinds 2
  • Gross NPA edges higher Oct 16

    Gross NPA rose to 0.29% as of Sep 30, 2026, from 0.26% a year earlier, indicating a marginal deterioration in asset quality.

  • Stock underperforms in 2026 Oct 16

    Shares have declined 13.22% year-to-date in 2026 and closed 0.5% lower at ₹83.36 on results day, underperforming the Nifty 50.

Positives 3
  • Strong Q2 profit and AUM growth Oct 16

    Q2 FY27 net profit rose 18% YoY to ₹757 crore while AUM expanded 25% to ₹1.58 lakh crore, with total income up 18.3% to ₹3,251 crore.

  • Improving cost efficiency Oct 16

    Operating expenses as a proportion of net total income improved to 19.1% from 19.7% YoY, and loan losses declined to ₹35 crore from ₹43 crore.

  • Robust capital adequacy Oct 16

    Capital adequacy ratio stood at 21.24% as of Sep 30, 2026, with net NPA stable at 0.12% and provisioning coverage on Stage 3 assets at 60%.

Neutral 2
  • ₹3,003 crore NCD issuance Nov 4

    Allotted ₹3,002.68 crore in 10-year secured NCDs at 8.68% coupon, maturing Nov 4, 2036, listed on BSE Wholesale Debt Market.

  • Q2 FY27 earnings call held Oct 12

    Bajaj Housing Finance hosted a conference call on Oct 16, 2026, to discuss quarterly results for the period ended Sep 30, 2026.

Quarterly Results

₹ Cr
BAJAJHFL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
1,763
1,911
1,946
1,996
2,209
2,410
2,449
2,504
2,616
2,755
2,886
2,903
3,063
Expenses
165
176
164
219
170
179
210
222
244
253
261
262
233
Financing Profit
536
585
582
498
640
718
723
731
765
844
890
878
942
Fin. Margin %
30%
31%
30%
25%
29%
30%
30%
29%
29%
31%
31%
30%
31%
Other Income
0
0
0
0
0
0
0
0
3
0
−13
0
0
Interest
1,062
1,151
1,200
1,279
1,399
1,514
1,516
1,551
1,606
1,658
1,734
1,762
1,888
Depreciation
10
10
10
10
10
10
10
11
11
12
12
13
13
PBT
526
575
572
488
630
708
713
720
757
833
865
866
929
Tax %
12%
22%
24%
22%
23%
23%
23%
18%
23%
23%
23%
23%
23%
Net Profit
462
451
437
381
483
546
548
587
583
643
665
669
715
EPS (₹)
0.69
0.67
0.65
0.57
0.62
0.66
0.66
0.7
0.7
0.77
0.8
0.8
0.86
Gross NPA %
0.23%
0.24%
0.25%
0.27%
0.28%
0.29%
0.29%
0.29%
0.3%
0.26%
0.27%
0.27%
0.29%
Net NPA %
0.08%
0.09%
0.1%
0.1%
0.11%
0.12%
0.13%
0.11%
0.13%
0.12%
0.11%
0.11%
0.12%

Profit & Loss

₹ Cr
BAJAJHFL profit and loss, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
265
3,155
3,767
5,665
7,617
9,554
11,150
11,604
Expenses
44
552
624
718
721
759
1,007
1,009
Financing Profit
59
635
986
1,733
2,201
2,814
3,381
3,554
Fin. Margin %
22%
20%
26%
31%
29%
29%
30%
31%
Other Income
0
0
0
0
0
−2
−14
−13
Interest
162
1,968
2,157
3,213
4,695
5,981
6,761
7,042
Depreciation
2
22
26
33
40
41
47
49
PBT
57
613
960
1,700
2,161
2,770
3,320
3,492
Tax %
26%
26%
26%
26%
20%
22%
23%
—
Net Profit
42
453
710
1,258
1,731
2,163
2,560
2,692
EPS (₹)
0.09
0.93
1.45
1.87
2.58
2.6
3.07
3.23
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
BAJAJHFL balance sheet, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
488
4,883
4,883
6,712
6,712
8,328
8,329
Reserves
70
1,149
1,858
3,791
5,521
11,619
14,194
Borrowing
2,560
31,601
41,492
53,745
69,129
82,072
1,03,704
Other Liabilities
19
226
293
406
464
790
920
Total Liabilities
3,137
37,858
48,527
64,654
81,827
1,02,809
1,27,147
Fixed Assets
9
79
97
113
123
141
154
CWIP
0
0
1
0
1
1
0
Investments
251
3,266
1,248
2,001
1,939
2,533
2,502
Other Assets
2,878
34,513
47,180
62,540
79,765
1,00,134
1,24,491
Total Assets
3,137
37,858
48,527
64,654
81,827
1,02,809
1,27,147

Cash Flow

₹ Cr
BAJAJHFL cash flow, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−1,024
−5,076
−12,481
−14,332
−14,600
−17,075
−19,895
Investing
−69
−797
2,197
−611
−555
−798
−1,202
Financing
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
CFO/OP
−458
−188
−389
−282
−204
−187
−189

Ratios

BAJAJHFL financial ratios, annual
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
8%
14%
11%
15%
15%
13%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bajaj Housing Finance insights

40 extracted metrics across FY18–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 86.70%
  • Public 10.10%
  • Others 1.21%
  • DIIs 1.09%
  • FIIs 0.90%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Bajaj Housing Finance

What does Bajaj Housing Finance Ltd do?
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. It is a 100% subsidiary of Bajaj Finance Limited — one of the most diversified NBFCs in the Indian market.
Where is Bajaj Housing Finance Ltd (BAJAJHFL) listed?
Bajaj Housing Finance Ltd trades as BAJAJHFL on the NSE and under code 544252 on the BSE.
Which sector does Bajaj Housing Finance Ltd belong to?
Bajaj Housing Finance Ltd is classified under the Financial Services sector, in the Housing Finance industry.
What is the PE ratio of Bajaj Housing Finance Ltd?
Bajaj Housing Finance Ltd trades at a PE ratio of 25.21 as of 4 Nov 2026, on earnings per share of ₹3.23, against a book value of ₹28.84 per share.
What is the 52-week high and low of Bajaj Housing Finance Ltd?
Over the last 52 weeks Bajaj Housing Finance Ltd has traded between ₹72.65 and ₹110.5 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Bajaj Housing Finance Ltd?
Bajaj Housing Finance Ltd reported a return on equity of 12.10%. Its debt-to-equity ratio is 4.60.

Company Information

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. 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.

Website bajajhousingfinance.in
CEO Mr. Atul Jain
Employees 1,977
Listed 16 Sep 2024
Face Value ₹10

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