Bajaj Housing Finance

“I think by year-end we should be close to 20%, and then over a medium term we'll take it to 30% kind of a mix of Sambhav.”

“we may have a flattish opex to NTI metric next year if assuming these guidelines come.”

“Nischint, we will not revise the guidance as of now because there is a bit of a moving piece.”

“Home loans AUM improved to 22% growth in Q2 against 20% in last quarter, while LRD growth was also strong at 39% against 41% growth in Q1.”

“Business crossed a critical milestone of INR500 crores monthly disbursement run rate in the last quarter”

“now Sambhav constitutes 16% of overall home loan originations in Q2.”

“It was much higher repayments during the quarter coupled with slower disbursements, both.”

“We hope that we should be back to the growth trajectory very well in the quarter three and quarter four in this business”

“we consider competitive pressure in pricing in prime as a feature, not as a novelty.”

“It is largely driven from the expectation of a real estate price hike where the home loan demand or a housing demand moves up or down.”

“home loan industry disbursements growth is 18%, where basis RBI data, home loan AUM growth is 10% in industry.”

“Banks increasing the MCLR very fast after the repo hike gives us a indicator saying that probably there will be a movement in the acquisition price as well in the housing loan as well”

“The housing sale in the country was highest in calendar year '24, where the interest rate was highest in the recent 6-7 years”

“and NIM moderated slightly by 2 bps sequentially to 3.7% in Q2 FY27”

“Credit cost overall moderated by 6 bps on Y-o-Y basis to 10 bps in Q2 FY27 against 16 bps in Q2 FY26.”

“Operating efficiency continues to improve with opex to NTI ratio at 19.1% as against 19.7%, which was in Q2 last year.”

“So, there will not be any margin compression because of that. That margin compression can be only on the acquisition side.”

“Portfolio pricing moves, so at best, there can be 2 -3 bps kind of a movement here and there if the acquisition pricing doesn't move in line.”

“The cost of funds reduced by 17 bps on sequential basis from 7.2% in Q1 to close to 7% in Q2 FY27. It was mainly due to conversion of fixed-rate NCDs to floating-rate instrument.”

“The borrowing mix continues to be diversified, but with higher composition of NCDs at 50.8%, which has improved 430 bps sequentially”

“2.5% of our liabilities. The rest of our liabilities are always on EBLR.”

“I don't think there is any scope of negotiation on the first hike.”

“The non-home loan asset assignment out for last 18 months-20 months has been a monthly phenomenon.”

“So, this is a one-time impact which is there, which was because of a one of maturity of certain high-priced earlier borrowings which happened and the substitution happened at a lower rate.”

“LRD GNPA of 2 bps due to movement of one retail LRD account to NPA during the quarter”

“If the pass-on through the through the acquisition pricing is lower, we may see higher BT pressure, which will impact AUM growth”

“there's a 10%-11% of the PBT which is generated from the cross-sell income, which is the income in conversation.”

“it is for Ind AS accounting for short run, for one year, I don't think it's feasible to offset that impact.”

“In fact, I'm calling out 1 bps or 2 bps further hit can be there in case the acquisition pricing pressure is significant.”

“Disbursements increased by 25% on a Y-o-Y basis, and AUM growth also was 25% on a Y-o-Y basis.”

“Thereby, PAT increased by 18% Y-o-Y to INR757 crores from INR643 crores in the same quarter last year.”

“while ROE improved from 12.2% in last year to 12.7% in the current year Q2.”

“Asset quality remains stable with GNPA of 29 bps and NNPA of 12 bps, same in line with last quarter”

“principal business criteria stood at 60.49% as of 30th September '26 against the 60% regulatory criteria.”