BSE: 511533
SAHARA HOUSINGFINA CORPORATION
A small Kolkata-based housing finance company that earns revenue primarily from interest on its loan book. Total income for FY26 was ₹716.83 lakhs, of which interest income made up ₹712.14 lakhs, down from ₹858.09 lakhs in FY25 — a year-on-year drop of roughly 17%. The company is shrinking rather than growing, with revenue and profit both declining. Net profit after tax fell to ₹34.39 lakhs in FY26 from ₹64.84 lakhs in FY25, taking EPS to ₹0.49 from ₹0.93. Employee costs are its single largest expense at 42.1% of revenue, followed by other operating expenses at 25%. The loan book is funded in part through secured non-convertible debentures, and the company has been progressively redeeming these NCDs rather than issuing fresh debt. Some asset quality pressure emerged during 9M FY26, with an impairment loss provision of ₹7.62 lakhs versus a small reversal the year before. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Interest income from housing finance operations. Small, shrinking housing finance company with a declining loan book and progressive NCD redemption
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 12 | 11 | 11 | 9 | 7 |
| EBITDA (ex other income) | 7 | 7 | 6 | 4 | 2 |
| margin % | 58.7 | 63.4 | 56.1 | 44.6 | 32.8 |
| Owners' profit | 2 | 1 | 1 | 1 | 0 |
| EPS, as reported (₹) | 2.55 | 2.03 | 2.01 | 0.93 | 0.49 |
| ROE % · ROCE % | 3.7 · — | 2.8 · — | 2.7 · — | 1.2 · — | 0.7 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 3 | 10 | 4 | 24 | 12 |
| Capex | (0) | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | (0) | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | (0) | 0 | 0 |
| EPS (₹) | 0.33 | 0.15 | 0.16 | 0.29 | 0.30 | (0.04) | 0.12 | 0.11 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ HOUSING FINANCE LTD | 64,581 | 31.9 | 2.87 | — | 11.4 | — | — | 92.4 |
| PNB HOUSING FIN LTD. | 29,147 | 12.6 | 1.52 | — | 11.9 | — | 2.3 | 91.6 |
| LIC HOUSING FINANCE LTD | 28,079 | 4.9 | 0.68 | — | 13.5 | — | 7.7 | 97.1 |
| AADHAR HOUSING FINANCE L | 18,768 | 16.3 | 2.49 | — | 14.5 | — | — | 75.4 |
| SAMMAAN CAPITAL LIMITED | 13,451 | — | 0.71 | — | (37.6) | — | (3.8) | 101.8 |
| HOME FIRST FIN CO IND LTD | 10,649 | 18.2 | 2.44 | — | 12.4 | — | — | 78.3 |
| APTUS VALUE HSG FIN I LTD | 9,955 | 10.1 | 1.97 | — | 18.6 | — | — | 83.7 |
| CAN FIN HOMES LTD | 9,655 | 8.6 | 1.61 | — | 18.2 | — | — | 91.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 72.1 | 10.1 | 16 of 17 | 6% |
| P/B | 0.5 | 1.0 | 4 of 17 | 81% |
| ROE | 0.7 | 11.8 | 15 of 17 | 13% |
| EBITDA margin | 30.4 | 74.7 | 17 of 19 | 11% |
| Revenue growth | (12.7) | 9.0 | 16 of 19 | 17% |
| Profit growth | (62.9) | 19.3 | 19 of 20 | 5% |
| Market cap | 24 | 4420 | 18 of 20 | 11% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Appoints Interim Compliance Officer and Manager After CEO's Demise | management changes | high | — | — |
| 14 Oct 2026 · Compliance certificate for share dematerialization filed with BSE | compliance | minimal | — | — |
| 5 Oct 2026 · Trading window closed ahead of Q2 FY27 results | compliance | minimal | — | — |
| 5 Oct 2026 · NCD quarterly compliance filing: outstanding now Rs 12 Crores | compliance | minimal | — | — |
| 28 Sept 2026 · 35th AGM held; all resolutions passed with 99.99% approval | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · 35th AGM held; financials adopted, director re-appointed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · 35th AGM held via VC; 2 ordinary resolutions passed | board shareholder meetings | low | — | — |
| 14 Sept 2026 · NCD interest and principal payment schedule for Q2 FY27 | credit debt | low | — | — |
| 7 Sept 2026 · Notice of 35th AGM published in newspapers for Sept 28, 2026 meeting | compliance | minimal | — | — |
| 4 Sept 2026 · Sahara Housingfina sends AGM notice links to shareholders without registered emails | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| 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 |
Sources, method and disclosures
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.