Bajaj Housing Finance AUM rises 24% to ₹1,49,610 crore in Q1 FY27
Disbursements up 11% to ₹19,500 crore, but the quarterly update lacks earnings and asset quality data.
What's new
- AUM grew 24% YoY to ₹1,49,610 cr, adding ₹8,904 cr in the quarter.
- Gross disbursements rose 11% to ₹19,500 cr from ₹17,506 cr a year ago.
- Loan assets stood at ₹1,31,150 cr; figures are provisional and unaudited.
Why this matters
The 24% AUM growth confirms Bajaj Housing Finance's market position, but it is an operational update rather than full results. Without margin or asset quality figures, the stock's valuation at 28.5x trailing earnings will be tested only when complete Q1 data is released.
What we're watching
- Full Q1 earnings, especially net interest margin and cost of funds.
- Asset quality trends, given the debt/equity of 4.11x.
- Any guidance on AUM growth trajectory for FY27.
The full read
Bajaj Housing Finance's quarterly business update is a picture of steady growth: AUM up 24% to ₹1,49,610 crore, disbursements 11% higher at ₹19,500 crore. The numbers align with the company's recent trajectory — trailing revenue growth stood at 15.9% and PAT at 14.1% as of the last full year. But this is an operational update, not a financial statement. There are no margins, no cost data, no asset quality numbers. The market already prices in consistent AUM expansion for a large-cap housing finance company; what the stock needs to move is proof that growth is profitable and clean. The full Q1 financials will be the real test.
Questions answered
- How much did AUM grow in Q1 FY27?
- AUM rose 24% year-on-year to ₹1,49,610 crore, adding ₹8,904 crore in the quarter alone. Gross disbursements were ₹19,500 crore, up 11%.
- Why is this update considered routine?
- It's an operational summary with no earnings, margins, or asset quality data. The market already expects consistent growth from a large-cap HFC, so the update confirms the trajectory without introducing new information.
- What is the stock's current valuation?
- At a market cap of ₹72,916 crore, the stock trades at a trailing P/E of 28.5x, with a trailing ROE of 10.8% and debt/equity of 4.11x.
- What should investors look for in the full Q1 results?
- Key metrics include net interest margin, cost-to-income ratio, and gross NPA levels, which will show whether growth is translating into profitability and asset quality.
- How do the disbursements compare to the previous quarter?
- The filing provides only year-on-year comparison; Q1 FY26 disbursements were ₹17,506 crore. The Q4 FY27 figure is not given, so sequential comparison is not possible.
- Are these numbers final?
- No — the figures are provisional and subject to audit review.