Bajaj Housing Finance Limited has informed the Exchange about Transcript of earnings conference call held in respect of the financial results for the quarter ended 30 June 2025.
BAJAJHFL · price
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Bajaj Housing Finance's Q1 FY26 earnings call highlighted 24% YoY AUM growth and 21% PAT growth to Rs. 583 crores, with healthy asset quality (GNPA at 30 bps, NNPA at 13 bps). Management cut FY26 AUM growth guidance to 21-23% from the medium-term 24-26% range, citing intense competitive pricing, portfolio attrition, and a softer real estate market. NIM/NTI is now expected to moderate by 15-20 bps in FY26 (revised from 10-15 bps), though core NII is projected to stay flat YoY. ROA guided at 2-2.2% and ROE at 11-12%. Cost of funds dropped 21 bps sequentially to 7.7%, CRAR is comfortable at 26.9%, and disbursements grew 22% YoY to Rs. 14,651 crores. Management expects return to normal growth trajectory by Q3 FY26 once competitive attrition stabilizes.
Near-term headwinds from margin compression and slower-than-expected growth may weigh on sentiment, but stable core NII, strong capital position, and management's confidence in a Q3 recovery provide some comfort. Investors should watch for competitive pricing intensity and quarterly AUM growth for signs of normalization.