Bajaj Housing Finance Q2 FY27 results: net profit up 17.7% to ₹756.97 crore, revenue up 18.0%

How did Bajaj Housing Finance perform in Q2 FY27?

Bajaj Housing Finance reported standalone revenue of ₹3,251 crore for Q2 FY27, up ₹495.72 crore or 18.0% from Q2 FY26. Total income increased ₹496.09 crore or 18.0% to ₹3,251.09 crore. Profit before tax rose ₹147.07 crore or 17.7% to ₹979.73 crore, while net profit increased ₹114.01 crore or 17.7% to ₹756.97 crore. Basic EPS was ₹0.91, compared with ₹0.77 in Q2 FY26. PAT margin was 23.3%, unchanged from Q2 FY26.

Against Q1 FY27, revenue rose ₹187.55 crore or 6.1% to ₹3,251 crore, while total income increased ₹188.04 crore or 6.1% to ₹3,251.09 crore. Profit before tax rose ₹50.99 crore or 5.5% to ₹979.73 crore, and net profit increased ₹41.69 crore or 5.8% to ₹756.97 crore. Basic EPS increased ₹0.05 to ₹0.91, while PAT margin was 23.3%, down 0.1 percentage point from 23.4%. EBITDA and EBITDA margin were not reported.

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

Finance costs increased ₹338.69 crore or 20.4% year on year to ₹1,996.65 crore and were the largest reported expense. Employee cost rose ₹26.34 crore or 19.4% to ₹162.43 crore, while depreciation increased ₹1.67 crore or 14.3% to ₹13.37 crore. Total expenses were up ₹349.02 crore or 18.2% at ₹2,271.36 crore. Other expenses declined ₹2.45 crore or 3.9% to ₹61 crore.

Other income increased ₹0.37 crore or 246.7% year on year to ₹0.52 crore. Tax expense rose ₹33.06 crore or 17.4% to ₹222.76 crore, against profit before tax of ₹979.73 crore. There was no exceptional item in the quarter, so profit before exceptional items and tax was also ₹979.73 crore. The filing did not state why the year-on-year changes in the individual cost lines occurred.

How did the first half of FY27 go?

In H1 FY27, revenue was ₹6,313.59 crore, up ₹943.03 crore or 17.6% from H1 FY26, while total income increased ₹940.69 crore or 17.5% to ₹6,314.14 crore. Profit before tax rose ₹318.87 crore or 20.1% to ₹1,908.47 crore. Net profit increased ₹245.99 crore or 20.1% to ₹1,472.25 crore, and EPS was ₹1.77, up from ₹1.47.

What do the balance sheet and cash flow show?

As of 30 September 2026, total assets were ₹143,211.53 crore, compared with ₹127,147.05 crore on 31 March 2026. Total equity rose to ₹24,023.30 crore from ₹22,522.79 crore, while cash fell to ₹112.36 crore from ₹161.80 crore. The company reported a liquidity surplus of ₹2,487 crore, but a total borrowings figure was not provided in the available data.

H1 FY27 operating cash flow was negative ₹14,809.75 crore, compared with negative ₹11,858.46 crore in H1 FY26. Financing cash flow was ₹14,646.35 crore against ₹11,760.11 crore, while investing cash flow was ₹113.96 crore against ₹173.28 crore. Capital expenditure was ₹14.28 crore, compared with ₹12.08 crore in the year-ago period.

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

Revenue rose across each of the last eight quarters shown, from ₹2,448.86 crore in Q3 FY25 to a peak of ₹3,250.57 crore in Q2 FY27. Profit after tax also increased from ₹548.02 crore to a peak of ₹756.97 crore over the same period. Both revenue and profit continued higher in Q2 FY27, with the latest quarter setting the highest levels in the series.

Revenue and profit after tax rose year on year in each of the last five quarters. Q2 FY27 revenue was ₹3,250.57 crore and profit after tax was ₹756.97 crore, following ₹3,063.02 crore and ₹715.28 crore in Q1 FY27. EBITDA margin data was not available for the quarterly trend, so no peak or trough can be identified for that measure.

What else did the company announce?

On 16 October 2026, the board approved the unaudited financial results for the quarter and half year ended 30 September 2026. The filing included the limited review report, which carried unmodified opinions, a press release, a security cover certificate and other regulatory statements. The same-day investor presentation reported AUM of ₹1.58 lakh crore and profit after tax of ₹757 crore. The available filings did not announce a dividend, a fresh fund raise or any appointment.

What did Bajaj Housing Finance's management say?

Management maintained FY27 AUM growth guidance at 21–23% and ROA guidance at 2.1–2.3%. It expected around 25 bps of margin compression for FY27, with another 1–3 bps possible if acquisition-price pass-through is weak. Management also said developer finance should recover toward 15–17% of the portfolio and Sambhav should reach a ₹600 crore monthly disbursement run rate by year-end.

Management identified repo pass-through and prime acquisition pricing as key swing factors for margins and attrition. It said roughly 7% September cost of funds was the base, with three hypothetical 25-bp repo hikes adding about 61–62 bps, excluding 2–3 bps from marginal funding. If draft insurance rules are finalised, management expects a 6–7% impact on PBT that cannot be offset. Atul Jain said, “Our strategy remains to grow the book. It is not a strategic call or a conscious call from the company to reduce the growth in this portfolio.”

On the long-term home-loan mix, Atul Jain said Sambhav is expected to reach a 20% share in the medium term and 30% over three to four years. He said, “In a longer term, longer term means I am saying 3 years, or 3.5 years, 4 years, we'll take it to 30% of our home loan mix.” The available transcript records no analyst questions.

How did Bajaj Housing Finance shares react?

The filing was released after market hours. From the price when it appeared, the stock was down 1.5% after 5 minutes, 1.5% after 15 minutes and 1.4% after 30 minutes. On the reaction day, it closed 0.5% below the previous close of ₹83.48; by the next day's close, it was down 3.0% from that pre-results close, and by the fifth session it was down 6.6%.

The Housing Finance Company industry median was down 1.7% on the reaction day, down 2.4% by the next day and down 6.7% by five sessions. Bajaj Housing Finance therefore outperformed the industry median by 1.2 percentage points on the reaction day, but lagged by 0.5 percentage points by the next day and moved in line over five sessions. Earlier results-day moves were −1.3% on 29 July 2026, −1.9% on 27 April 2026 and 1.2% on 2 February 2026.

How did other Housing Finance Company companies do?

Eight other Housing Finance Company companies had filed for the quarter as of 5 November 2026. Their median revenue growth was 12.2%, compared with Bajaj Housing Finance’s 18.0% growth. Six peers grew more slowly than Bajaj Housing Finance, while two grew faster. Seven of the eight peers reported higher profit.