Home First CFO exits even as Q1 profit jumps 34.5%
Strong quarterly numbers (PAT up 34.5% to ₹160 cr, AUM up 25.7%) are overshadowed by the sudden resignation of CFO Nutan Gaba Patwari with no reason given, raising questions about management stability.
— 4 earlier stories on Home First Finance Company India Ltd. →What's new
- Home First Q1 PAT rose 34.5% YoY to ₹160 cr; AUM grew 25.7% to ₹16,938 cr.
- CFO Nutan Gaba Patwari resigned without any reason disclosed.
- Spreads held at 5.3%, gross NPAs at 1.8%; branch network expanded to 175.
Why this matters
A CFO departure in a regulated financial firm demands scrutiny, especially when unexplained. The strong quarter provides a buffer, but the leadership gap injects uncertainty into a stock trading at 23x earnings, a multiple that rewards consistency.
What we're watching
- Whether the company quickly appoints a replacement or goes interim for an extended period.
- If auditors or credit rating agencies flag any governance concerns in upcoming filings.
- How AUM growth trajectory holds if management focus shifts to succession.
The full read
Home First Finance delivered a clean Q1 beat: PAT up 34.5% to ₹160 crore and AUM growing 25.7% to ₹16,938 crore. Spreads held at 5.3%, NPAs at 1.8%, and branches rose to 175. That is a quarter most lenders would envy. But the filing buried a landmine: CFO Nutan Gaba Patwari resigned, no reason given. In a regulated lender, an unexplained CFO exit is rarely a procedural footnote. It forces the market to weigh operating strength against leadership risk. The stock's 23x P/E leaves little room for doubt on management continuity. The open question now is how fast Home First fills the gap and whether the next set of numbers comes with a new face in the finance seat.
Questions answered
- How significant is the CFO resignation compared to the earnings beat?
- The earnings beat is strong with 34.5% PAT growth, but CFO departures in financial services often signal deeper issues. The lack of a reason makes the resignation the dominant event for near-term sentiment.
- What were the key Q1 numbers for Home First?
- PAT came in at ₹160 cr (up 34.5% YoY), AUM at ₹16,938 cr (up 25.7%), spreads stable at 5.3%, and gross NPAs flat at 1.8%. The company added four branches to reach 175.
- Who is Nutan Gaba Patwari and why does her exit matter?
- She was the CFO of Home First. CFO exits in housing finance can affect investor confidence in financial controls and strategic direction. The company did not cite any reason, which amplifies uncertainty.
- What is the company's valuation and leverage?
- Home First trades at a P/E of 23.1x trailing earnings, with ROE of 12.4% and debt/equity of 2.43. The valuation is premium to many peers, partly relying on consistent execution.
- Did the filing mention any reason or plan for the CFO's departure?
- No reason was provided. The disclosure simply stated the resignation, which is common but leaves room for speculation.
Home First Finance Company India Ltd.
Latest quarter · Mar 2026
Leverage & growth
Story so far
All notes on HOMEFIRST →- 27 Jul 2026 · 6:03 PM IST Home First CFO exits even as Q1 profit jumps 34.5%
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