Provides home loans to the affordable housing segment in India and earns the spread between its lending rate and cost of borrowing. Operates a branch-led network of 171 branches and 373 touch points with 1,855 employees, sourcing customers through branches and a developer-led model piloted in Mumbai and Pune. Loan book (AUM) stood at INR15,878 crore at end-FY26 and rose to INR16,938 crore by Q1 FY27, with quarterly disbursements of INR1,572 crore in Q4 FY26 and INR1,628 crore in Q1 FY27. Portfolio yield was 13.2% against a 7.9% cost of borrowing, producing a spread of 5.3% and a net interest margin of 5.9% in Q4 FY26. Asset quality has tightened, with Stage 3 (gross NPA) at 1.8% of book and 1+ days-past-due at 4.7%. Also runs a co-lending arrangement with bank partners, with its own co-lending disbursements doubling YoY to INR307 crore in FY26. The main cost lines are interest expense on borrowings and employee costs, with employee cost at 13% of revenue and operating cost-to-assets guided at 2.6-2.7%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Interest income on home loans, Co-lending income. Asset-heavy, interest-rate-sensitive housing finance lender focused on affordable housing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 596 | 791 | 1,137 | 1,530 | 1,915 |
| EBITDA (ex other income) | 449 | 604 | 892 | 1,223 | 1,511 |
| margin % | 75.5 | 76.4 | 78.5 | 79.9 | 78.9 |
| Owners' profit | 186 | 228 | 306 | 382 | 540 |
| EPS, as reported (₹) | 21.26 | 26.01 | 34.65 | 42.83 | 52.35 |
| ROE % · ROCE % | 11.8 · — | 12.6 · — | 14.4 · — | 15.2 · — | 12.4 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (807) | (1,451) | (1,908) | (2,198) | (1,940) |
| Capex | (4) | (7) | (8) | (12) | (10) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 373 | 406 | 415 | 454 | 477 | 482 | 501 | 538 |
| Profit before tax | 120 | 130 | 138 | 156 | 173 | 183 | 195 | 208 |
| Net profit | 92 | 97 | 105 | 119 | 132 | 140 | 149 | 160 |
| EPS (₹) | 10.36 | 10.90 | 11.65 | 11.69 | 12.76 | 13.52 | 14.35 | 15.31 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ HOUSING FINANCE LTD | 70,078 | 34.6 | 3.11 | — | 11.4 | — | — | 92.4 |
| LIC HOUSING FINANCE LTD | 30,982 | 5.4 | 0.75 | 1.1 | 13.5 | — | 7.7 | 97.1 |
| PNB HOUSING FIN LTD. | 30,721 | 13.3 | 1.60 | 3.5 | 11.9 | — | 2.3 | 91.6 |
| AADHAR HOUSING FINANCE L | 19,978 | 17.4 | 2.65 | 6.9 | 14.5 | — | — | 75.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Home First Finance schedules analyst meetings in September 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · Home First Finance reports outcome of Singapore investor roadshow | investor communications | low | — | — |
| 10 Sept 2026 · Home First Finance holds analyst and investor roadshow in Singapore | investor communications | low | — | — |
| 7 Sept 2026 · Schedule of analyst and institutional investor meetings for September 2026 | general | low | — | — |
| 2 Sept 2026 · ESG score of 73 assigned by NSE Sustainability | business updates | medium | — | — |
| 2 Sept 2026 · Home First attended Elara India Dialogue 2026 with multiple funds | investor communications | low | — | — |
| 31 Aug 2026 · CFO Nutan Gaba Patwari ceases to hold office effective August 31, 2026 | management changes | high | — | — |
| 28 Aug 2026 · Home First allots INR 150 Cr NCDs to Kotak Mahindra Bank at 7.55 percent coupon | fund raising | medium | — | — |
| 26 Aug 2026 · Home First Finance to meet analysts and institutional investors in Mumbai | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Attended Yes Securities Housing Conference; met multiple institutional investors | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| SAMMAAN CAPITAL LIMITED | 17,203 | — | 0.91 | — | (37.6) | — | (3.8) | 101.8 |
| HOME FIRST FIN CO IND LTD ◆ | 12,386 | 21.2 | 2.84 | — | 12.4 | — | — | 78.3 |
| APTUS VALUE HSG FIN I LTD | 12,360 | 12.5 | 2.44 | 6.3 | 18.6 | — | — | 83.7 |
| CAN FIN HOMES LTD | 10,400 | 9.2 | 1.74 | — | 18.2 | — | — | 91.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.2 | 13.3 | 13 of 17 | 25% |
| P/B | 2.8 | 1.4 | 15 of 16 | 7% |
| ROE | 12.4 | 11.6 | 8 of 20 | 63% |
| Debt / Equity | 0.0 | 0.0 | 3 of 20 | 0% |
| EBITDA margin | 78.3 | 74.7 | 8 of 19 | 61% |
| Revenue growth | 18.6 | 9.0 | 6 of 19 | 72% |
| Profit growth | 34.5 | 19.3 | 6 of 20 | 74% |
| Market cap | 12386 | 7130 | 6 of 19 | 72% |
| A rating (BUY / ADD / REDUCE / SELL) |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
