Q3 2026 Bajaj Housing Finance Ltd Earnings Call Transcript
Key Points
- Bajaj Housing Finance Ltd (NSE:BAJAJHFL) reported a strong AUM growth of 23% year-over-year, reaching INR133,000 crore.
- The company maintained healthy asset quality with Gross NPA at 27 bps and Net NPA at 11 bps.
- Operating efficiency improved, with OPEX to NTI ratio decreasing to 19% from 19.8% in the same quarter last year.
- The company achieved a comfortable capital adequacy ratio (CAR) of 23.15%, well above regulatory requirements.
- Disbursements showed strong momentum, growing 32% year-over-year to INR16,545 crore.
- Tier 1 capital saw a sharp decline due to regulatory changes, impacting capital provisioning for undisbursed loans.
- The cost of funds, although improved year-over-year, showed only a marginal sequential improvement, indicating potential pressure on margins.
- Gross spreads moderated by 12 bps sequentially, reflecting a reduction in portfolio yield.
- The competitive intensity in the housing finance market remains high, particularly in the prime and super-prime segments.
- The company's net interest margin (NIM) remained flat at 4%, with expectations of further compression due to market conditions.
Ladies and gentlemen, good day and welcome to Bajaj Housing Finance Limited Q3 FY26 earnings conference call hosted by IIFL Capital Services Limited. (Operator Instructions) Please note that this conference is being recorded.
Now I hand the conference over to Mr. Viral Shah from IIFL Capital Services. Thank you, and over to you, Mr. Shah.
Thank you, Neerav. Good evening, everyone. This is Viral Shah from IIFL Capital. Welcome to the 3Q FY26 earnings conference call of Bajaj Housing Finance Limited. On behalf of IIFL Capital, I would like to thank the management of Bajaj Housing Finance for giving us this opportunity to host the call.
From the management team today, we have Mr. Atul Jain, Managing Director, Mr. Gaurav Kalani, Chief Financial Officer, and other senior members of the management team. We will have opening comments from the management team, post which we will open the floor for Q&A.
With that, I would like to transfer the call to Atul for his opening remarks.
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