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Informist, Thursday, Jan. 29, 2026

By Reshma Ravi

MUMBAI – Aadhar Housing Finance Ltd. is expected to report a substantial on-year rise in its net profit for the December quarter, driven by growth in disbursements and assets under management along with improving net interest income, according to analysts. Lower credit costs are also likely to support bottom line growth during the reporting quarter.

The company is expected to report a net profit of INR 2.92 billion for the December quarter, up nearly 22% on year and over 9% on quarter, according to the average of the estimates of five brokerages. The highest estimate for net profit is INR 3.22 billion from Elara Securities (India) Pvt. Ltd., while the lowest estimate is INR 2.79 billion from YES Securities (India) Ltd. 

The housing finance company is expected to report a net interest income of INR 5.16 billion for the December quarter, up nearly 13% on quarter and nearly 27% on year, according to the average of estimates. The highest estimate for net interest income is INR 5.80 billion from YES Securities (India) Ltd., while the lowest is INR 4.76 billion from ICICI Securities Ltd.

Aadhar Housing Finance is expected to report 20% on-year growth in assets under management for the December quarter, Kotak Securities Ltd. said. The brokerage attributed this to the 15% growth in disbursements, despite the company operating on a high base, as disbursements had already risen 18% in the first half of the year. The company's disbursements are expected to rise 16% on year in the December quarter, JM Financial Institutional Securities Pvt. Ltd. said.    

The company's spread, which is the difference between the rate of interest charged on loans and the cost of funds, is likely to increase marginally to 6.7% from 6.6% reported in September due to the continued benefit of lower interest rates, Kotak said.

Moderate growth in operating expenses is also expected to be a positive for the company. "Operating expense growth will be moderate at 16%, leading to cost-to-AAUM ratio to 2.9% (2.9-3.2% in the previous four quarters)," Kotak said. 

The company's credit cost is expected to decline 19 basis points on quarter, it said. On the other hand, JM Financial expects credit costs to rise 8 basis points sequentially. 

In the September quarter, the company reported a consolidated net profit of INR 2.66 billion, up 17% on year. At the end of the September quarter, the company's assets under management were up 21% on year at INR 275.54 billion. Disbursements were at INR 40.89 billion in Apr-Sept, up 16% on year.

All three brokerage reports on the company available with Informist have a 'buy' recommendation on the stock. Aadhar Housing Finance will announce its December quarter earnings on Friday. 

At 0935 IST, shares of Aadhar Housing Finance were steady at INR 475.85 on the National Stock Exchange. Since reporting its September quarter earnings on Nov. 7, the company's shares have declined nearly 5%.

Following are the Oct-Dec earnings estimates for Aadhar Housing Finance Ltd. from five brokerages in descending order of the estimate of net profit in INR billion:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Nishant Maher

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