Bajaj Housing Finance Ltd

₹ 97.4 0.86%
05 Jan
🔗 Website | BSE: 544252 | NSE: BAJAJHFL
81,199
97.4
137
34.4
25.4
0.00
9.55
13.5

ABOUT

Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans.[1]It is a 100% subsidiary of Bajaj Finance Limited — one of the most diversified NBFCs in the Indian market. BHFL offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes. BHFL also offers finance to developers engaged in the construction of residential and commercial properties as well as lease rental discounting to developers and HNIs.[2]

Stock Analysis

Description

Bajaj Housing Finance Limited (BHFL) is a non-deposit-taking Housing Finance Company and a wholly-owned subsidiary of Bajaj Finance Limited. It offers a range of mortgage-related products, including home loans, loans against property, and finance for developers, serving both individual and corporate clients.

Key Growth Triggers

  • Sustained expansion of Assets Under Management (AUM) driven by strong disbursement growth.
  • Strategic focus on expanding reach within near-prime customer segments.
  • Leveraging digital initiatives to enhance customer onboarding and operational efficiency.
  • Continued debt funding initiatives to support loan portfolio growth.

Order Book

Currently no data available for Order Book.

Key Red Flags

  • The company has historically not paid dividends, which may not align with all investor preferences.
  • The stock trades at a price-to-book value significantly higher than its book value.
  • A low interest coverage ratio may indicate a potential risk in servicing debt obligations.

Key Dates To Watch

  • February 2, 2026: Conference call to discuss Q3 FY26 financial results.

Peer Comparison

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Bajaj Housing97.4534.3981198.600.00642.9617.842754.8514.309.5510327.3890.962360.96642.963.832.354.44
2.Piramal Finance.1770.6064.6740135.550.00326.99150.222871.5521.427.7310150.2058.14620.66407.791.460.602.61
3.LIC Housing Fin.539.905.3829697.901.851349.371.627179.253.488.9328804.9293.855521.361349.250.771.807.08
4.PNB Housing1003.9011.9126152.450.50626.4932.822167.9116.089.468184.4993.962196.76626.491.452.523.62
5.Aadhar Hsg. Fin.503.2522.1021830.800.00266.4717.12897.1317.3811.423375.5376.35987.93266.473.164.312.55
6.Aptus Value Hou.287.6517.0814403.291.56226.5524.50544.0429.1115.051998.3984.25843.33226.553.097.421.57
7.Sammaan Capital151.499.8912553.420.00308.47111.172250.60-7.103.658774.8874.431269.25308.470.56-2.522.04

Quarterly Results

Figures in Cr.

Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2023Sep 2024Sep 2025
Sales
YOY Sales Growth %
25.83%25.26%18.43%25.94%25.62%26.09%14.3%
Expenses
164210165170244216219226176179253
Material Cost %
Employee Cost %
5.8%4.84%6.48%5.14%5.18%6.99%6.18%5.3%6.03%4.92%4.94%
Operating Profit
OPM %
Other Income
00003000000
Exceptional items
Other income normal
0.110.120.130.082.740.350.10.060.060.090.15
Interest
1,2001,5161,0621,3991,6069541,2791,5511,1511,5141,658
Depreciation
101010101191011101012
Profit before tax
572713526630757407488720575708833
Tax %
24%23%12%23%23%26%22%18%22%23%23%
Net Profit
437548462483583301381587451546643
EPS in Rs
0.650.660.690.620.70.450.570.70.670.660.77

Profit & Loss

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
Sales Growth %
19.22%19.4%50.39%34.47%25.71%
Expenses
438552624718721781933
Material Cost %
Raw material cost
Change in inventory
Manufacturing Cost %
0.22%0.28%0.43%0.52%0.2%0.18%
Employee Cost %
9.4%7.8%9.28%7.7%6.15%5.1%
Other Cost %
6.92%9.43%6.85%4.46%3.12%2.87%
Operating Profit
OPM %
Other Income
-00-00-0-23
Exceptional items
-0.49-0.44-0.48-0.7-0.77-2.72
Other income normal
0.210.580.420.710.40.35
Interest
1,6181,9682,1573,2134,6955,9816,331
Depreciation
23222633404144
Profit before tax
5676139601,7002,1612,7703,022
Tax %
26%26%26%26%20%22%
Net Profit
4214537101,2581,7312,1632,361
Exceptional items AT
-0-0-0-1-1-2
Profit excl Excep
4224547101,2581,7322,165
Profit for PE
4224547101,2581,7322,165
Profit for EPS
4214537101,2581,7312,163
EPS in Rs
0.860.931.451.872.582.62.83
Dividend Payout %
0%0%0%0%0%0%

Balance Sheet

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
4,8834,8834,8836,7126,7128,3288,329
Reserves
7021,1491,8583,7915,52111,61912,852
Borrowings
Long term Borrowings
Short term Borrowings
Lease Liabilities
Other Borrowings
Other Liabilities
187226293406464790735
Trade Payables
312136465876122
Advance from Customers
Other liability items
156205257360407714613
Total Liabilities
31,37237,85848,52764,65481,8271,02,8091,15,976
Fixed Assets
867997113123141144
Land
Building
14.6260.9980.2798.64108.01133.15
Plant Machinery
Equipments
11.7913.5414.5314.8214.3615.01
Furniture & fittings
Vehicles
6.928.4411.3719.0428.6334.55
Intangible Assets
00000040.63
Other fixed assets
54.6819.0227.9143.4760.2976.57
Gross Block
114.61127.5168.72214.12255.86303.59
Accumulated Depreciation
28.8348.6171.52101.13133163.02
CWIP
0010110
Investments
2,5083,2661,2482,0011,9392,5332,129
Other Assets
28,77934,51347,18062,54079,7651,00,1341,13,703
Inventories
Trade receivables
11831122132227
Receivables under 6m
Receivables over 6m
Prow for Doubtful
Cash Equivalents
6597174071096462140
Loans & Advances
Other Assets items
Total Assets
31,37237,85848,52764,65481,8271,02,8091,15,976

Cash Flows

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-1,024-5,076-12,481-14,332-14,600-17,075
Profit from operations
891,0307001,5722,1572,986
Receivables
-0-24-0-11-9
Inventory
Payables
1-632442140
Loans Advances
-1,076-5,698-13,257-15,585-17,047-20,088
Other WC items
-25-21928336807620
Working capital changes
-1,100-5,926-12,938-15,505-16,230-19,436
Direct taxes
-13-180-242-399-526-624
Cash from Investing Activity
-69-7972,197-611-555-798
Fixed assets purchased
-3-15-29-34-43-41
Fixed assets sold
022435
Investments purchased
-5,555-3,475-38,034-43,036-6,655-17,032
Investments sold
5,4872,97540,23242,4086,14016,270
Interest received
131274600
Redeemp Cnce of Shares
Acquisition of companies
Other investing items
0-3140000
Cash from Financing Activity
1,1495,67610,22814,63015,12517,870
Redemption of debentures
Proceeds from borrowings
1,0178,73116,65226,65726,94826,389
Repayment of borrowings
-18-3,027-6,923-14,173-11,818-13,874
Interest paid fin
Dividends paid
Financial liabilities
-1-8-11-14-14-14
Other financing items
0-200-3410-192
Net Cash Flow
55-197-55-313-30-2

Ratios

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
Inventory Days
Days Payable
Cash Conversion Cycle
Working Capital Days
ROCE %

Shareholding Pattern

Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
88.75%88.75%88.75%88.7%88.7%
Bajaj AIF Trustee Limited
0
Bajaj Allianz Financial Distributors Limited
00000
Bajaj Allianz General Insurance Company Limited
00000
Bajaj Allianz Life Insurance Company Limited
00000
Bajaj Alternate Investment Management Limited
0
Bajaj Finance Limited
88.7588.7588.7588.788.7
Bajaj Financial Securities Limited
00000
Bajaj Finserv Asset Management Limited
00000
Bajaj Finserv Direct Limited
00000
Bajaj Finserv Health Limited
00000
Bajaj Finserv Limited
00000
Bajaj Finserv Mutual Fund Trustee Limited
00000
Bajaj Finserv Ventures Limited
00000
Bajaj Holdings & Investment Limited
00000
Bajaj Technology Services Inc
0
Pennant Technologies Private Limited
00000
Sanjivnayan Bajaj
00000
Snapwork Technologies Private Limited
00000
VH International LLC
0
VH Medcare Private Limited
00000
Vidal Health Insurance TPA Private Limited
00000
Vidal Healthcare Services Private Limited
00000
FIIs
1.68%1.11%1.12%1.04%0.91%
DIIs
1.83%0.82%0.72%0.59%0.54%
Government
0.11%0%0%0%0%
Public
7.63%9.32%9.4%9.61%9.81%
Others
0%0%0%0.05%0.04%
No. of Shareholders
23,09,51826,45,57426,05,36825,10,34024,45,280

News & Updates

Documents

Announcements

Information Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Read With Schedule A Of Regulation 8 Of SEBI (Prohibition Of Insider Trading) Regulations, 2015
2d - Q3 FY26 gross disbursements ₹16,535cr; AUM ₹1,33,400cr (+23%); loan assets ₹1,17,290cr (31 Dec 2025).
Closure of Trading Window
29 Dec - Trading window closed from 1 Jan 2026 until two days after unaudited Q3/9M results ending 31 Dec 2025.
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 Dec 2025 - Bajaj Housing: 5 Dec 2025 investor/analyst group meet; presentation shared; audio hosted on company website.

Annual Reports

Credit Ratings

Rating update
5 Dec 2025 from crisil
Rating update
5 Aug 2025 from crisil
Rating update
9 Jun 2025 from crisil
Rating update
6 Jun 2025 from crisil
Rating update
29 May 2025 from crisil
Rating update
2 Apr 2025 from crisil

Concalls

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