Aadhar Housing Finance Q2 FY27 results: net profit up 15.7% to ₹308.29 crore, revenue up 16.8%

How did Aadhar Housing Finance perform in Q2 FY27?

Aadhar Housing Finance reported standalone revenue of ₹1,048 crore for Q2 FY27, up ₹150.64 crore or 16.8% from Q2 FY26 and ₹54.93 crore or 5.5% from Q1 FY27. Profit before tax was ₹397.02 crore, up ₹54.37 crore or 15.9% from Q2 FY26 and ₹33.45 crore or 9.2% from Q1 FY27.

Net profit for Q2 FY27 was ₹308.29 crore, compared with ₹266.35 crore in Q2 FY26 and ₹282.31 crore in Q1 FY27. Basic EPS was ₹7.04, against ₹6.16 and ₹6.47, respectively. The profit margin was 29.4%, compared with 29.7% a year earlier and 28.4% in the previous quarter. EBITDA and EBITDA margin were not reported in the standalone results.

What changed in Aadhar Housing Finance's costs and profit?

Total expenses rose to ₹650.74 crore in Q2 FY27 from ₹556.54 crore in Q2 FY26. Finance costs increased by ₹47.45 crore or 13.9% to ₹389.07 crore, employee benefits expense rose by ₹34.53 crore or 28.2% to ₹156.81 crore, and depreciation and amortisation increased by ₹2.49 crore or 34.3% to ₹9.74 crore. Other expenses fell by ₹1.35 crore or 1.9% to ₹70.88 crore.

Other income declined by ₹2.07 crore or 97.2% to ₹0.06 crore from Q2 FY26, while there was no exceptional item in either quarter. Tax expense increased by ₹12.43 crore or 16.3% to ₹88.73 crore. The filing does not state reasons for the changes in the cost lines or other income.

How did the first half of FY27 go?

In H1 FY27, Aadhar Housing reported standalone revenue of ₹2,040.47 crore, up ₹295.3 crore or 16.9% from H1 FY26. Total income was ₹2,044.84 crore, up ₹294.37 crore or 16.8%, while profit before tax increased by ₹112.65 crore or 17.4% to ₹760.59 crore.

H1 FY27 net profit was ₹590.6 crore, up ₹86.95 crore or 17.3% from H1 FY26. Basic EPS rose by ₹1.86 or 16.0% to ₹13.52. The company also reported consolidated results alongside the standalone figures in its filing, but the figures in this article use the standalone basis.

What do the balance sheet and cash flow show?

Total assets increased to ₹29,366.09 crore as on 30 September 2026 from ₹27,389.9 crore as on 31 March 2026. Total equity rose to ₹8,195.08 crore from ₹7,534.6 crore, and cash and cash equivalents increased to ₹868.9 crore from ₹712.99 crore. A borrowings figure was not provided in the available balance-sheet data.

Operating cash flow for H1 FY27 was negative ₹1,556.78 crore, compared with negative ₹695.06 crore in H1 FY26. Investing cash flow was positive ₹16.78 crore against negative ₹84.52 crore, while financing cash flow rose to ₹1,695.91 crore from ₹690.04 crore. Capital expenditure was ₹9.76 crore, compared with ₹8.22 crore.

How has Aadhar Housing Finance done over the last 8 quarters?

Revenue increased across the last seven quarters on a year-on-year basis and reached ₹1,047.7 crore in Q2 FY27. It began the sequence at ₹785.1 crore in Q3 FY25, making that the lowest point in the period shown, while the latest quarter was the highest. Revenue also rose from ₹992.77 crore in Q1 FY27 to ₹1,047.7 crore in Q2 FY27.

Profit after tax followed the same broad direction, rising year on year in each of the last seven quarters. It was lowest at ₹237.3 crore in Q1 FY26 and reached ₹308.29 crore in Q2 FY27, after ₹282.31 crore in the previous quarter. EBITDA margin was not reported for the quarterly trend, so no margin peak or trough can be identified.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, together with the joint statutory auditors’ limited review report. The filing also covered the utilisation of issue proceeds, any variation in their use, and the security cover disclosure under the applicable SEBI LODR regulations.

On 5 November 2026, the board approved the grant of 9,81,800 employee stock options to eligible employees under the Employee Stock Option Plan 2025. The options were granted at ₹425 per option, with a minimum vesting period of one year and an exercise period of two years from each vesting. Sandeep Jain was redesignated from Chief Business Leader to Chief Business Officer with effect from 5 November 2026.

What did Aadhar Housing Finance's management say?

Management said H1 FY27 AUM was ₹326,433 Mn and disbursements were ₹46,131 Mn, with adjusted year-on-year growth of 20% and 21%, respectively. It highlighted a 632-branch low-income housing franchise, a 100% secured retail book, and the use of AI tools across underwriting, surveillance, collections and servicing. Management also said the company operated 632 branches across 23 states and union territories and 555 districts as of September 2026, following its entry into Jammu & Kashmir in Q2 FY27.

Management identified funding diversification, positive asset-liability management and operating efficiency as priorities. It said Deep Impact branches were being opened in remote locations to serve housing needs in tier 4 and tier 5 towns, and that five reusable AI platforms—LEKHA, DHVANI, SAMVIT, SAARTHI and GATI—were being built in-house. No explicit capital-expenditure budget or quantified expansion target was disclosed.

Management said the Q2 FY27 spread eased to 5.7% from 5.8% in Q1 FY27 as portfolio yield slipped to 13.4% from 13.5%, while the cost of borrowings was 7.7%. It also said the ESOP charge was ₹282 Mn pre-tax in H1 FY27, including ₹142 Mn in Q2 FY27, reducing reported PAT growth to 17% for H1 and 16% for Q2, compared with adjusted growth of 22% and 20%. Credit costs rose to ₹242.4 Mn in Q2 FY27 from ₹131.6 Mn in Q2 FY26.

How did other Housing Finance Company companies do?

Ten other Housing Finance Company companies had filed results for the quarter, with a median revenue growth of 12.2%. Seven peers grew more slowly than Aadhar Housing and three grew faster. Nine of the peers reported higher profit, while profit was compared for 10 peers.