Earnings Review
Growth in AUM, NII lift Bajaj Housing Finance Q3 PAT
This story was originally published at 17:36 IST on 2 February 2026
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--Bajaj Housing Fin Oct-Dec PAT INR 6.65 bln
--Bajaj Housing Fin Oct-Dec revenue INR 28.86 bln
--Bajaj Housing Fin Oct-Dec PAT INR 6.65 bln vs INR 5.48 bln year ago
--Bajaj Housing Fin Oct-Dec revenue INR 28.86 bln vs INR 24.49 bln yr ago
--Bajaj Housing Fin Apr-Dec net profit INR 18.91 bln vs INR 15.76 bln year ago
--Bajaj Housing Fin Apr-Dec revenue INR 82.56 bln vs INR 70.68 bln year ago
--Bajaj Housing gross NPA ratio 0.27% on Dec 31 vs 0.29% year ago
--Bajaj Housing net NPA ratio 0.11% on Dec 31 vs 0.13% year ago
--Bajaj Housing: Provision coverage ratio 58.76% on Dec 31 vs 55.44% yr ago
--Bajaj Housing: Liquidity coverage ratio 146.31% on Dec 31 vs 179.06% yr ago
--Bajaj Housing Oct-Dec net interest income INR 9.63 bln, up 19% YoY
--Bajaj Housing assets under mgmt INR 1.33 tln as on Dec 31, up 23% YoY
--Bajaj Housing Oct-Dec net interest margin 4%, unch on year
--Bajaj Housing Oct-Dec cost of fund 7.3% vs 7.4% qtr ago
By Kabir Sharma
MUMBAI – A significant rise in assets under management helped Bajaj Housing Finance Ltd. report a sharp increase in net profit for the December quarter. The bottom line was also supported by a surge in net interest income.
Bajaj Housing Finance reported a net profit of INR 6.65 billion for the December quarter, up over 21% on year. Sequentially, the bottom line was up 3.4%. The earnings were announced after market hours on Monday. The company's shares ended flat at INR 89.70 on the National Stock Exchange.
The company's assets under management grew 23% on year in the December quarter driven by rise in disbursements, according to its investor presentation. The assets under management were at INR 1.33 trillion as on Dec. 31. Portfolio composition remained diversified, with home loans at 54.5%. Disbursements grew 32% on year to INR 165.45 billion in Oct-Dec from INR 125.71 billion year ago.
The rise in net profit was supported by a similar increase in net interest income. Net interest income of the lender rose 19% to INR 9.63 billion in the December quarter. The net interest margin of the housing financier was 4%, unchanged from a year ago.
In terms of asset quality, the company's gross and net non-performing asset ratios were 0.27% and 0.11%, respectively, at the end of December, against 0.29% and 0.13% a year ago. Provisioning coverage ratio on stage three assets was around 59%.
Cost of funds of the company eased by 5 basis points on a sequential basis resulting from policy rate transmission on existing borrowings and incremental borrowings at lower rate, the company said. Cost of funds for the reporting quarter was 7.3% as against 7.4% a quarter ago. Liquidity buffer of the company was at INR 27.30 billion as of Dec. 31 and liquidity coverage ratio for the quarter was at 146% as against regulatory requirement of 100%.
The company expects its net interest income in FY26 to be stable and in line with FY25, but net interest margin is expected to moderate by 15-20 bps due to reduction in investment income which in FY25 was higher due to two rounds of capital raises and lower income on derecognised loans because of lower assignment planned in FY26. The return on assets in FY26 is expected to remain range-bound in line with the previous two quarters, the company said in an investor presentation.
For Apr-Dec, the lender's net profit rose 20% on year to INR 18.91 billion. Revenue for the nine months ended December rose 16.8% on year to INR 82.56 billion. Capital adequacy ratio, including Tier-II capital, was 23.15% as of Dec. 31. End
Edited by Ashish Shirke
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