Asset Quality and Provisions
The company’s asset quality showed marginal improvement during the quarter, as its gross non-performing assets (GNPA) declined to 0.26% from 0.29% a year earlier. Net NPA remained stable at 0.12%.
Loan losses and provisions, however, rose to ₹50 crore in Q2FY26 from ₹5 crore in the same period last year, indicating a more cautious provisioning stance amid changing macroeconomic conditions.
AUM and Operational Efficiency
Bajaj Housing Finance’s assets under management (AUM) climbed 24% year-on-year to ₹1.27 lakh crore in Q2FY26, compared with ₹1.03 lakh crore in the corresponding quarter last year. The growth was attributed to robust demand for home and property loans despite a competitive market and a softening interest rate environment.
The company’s operating efficiency improved, with the operating expense to net total income (Opex-to-NTI) ratio falling to 19.6% from 20.5% a year earlier. Its Priority Sector Lending (PBC) ratio stood at 61.21%, comfortably above the regulatory requirement of 60%.
Return Ratios and Market Performance
Bajaj Housing Finance’s annualised return on assets (ROA) came in at 2.3%, marginally lower than 2.5% recorded in the previous year.
On the stock market, shares of Bajaj Housing Finance closed 0.26% lower at ₹109.25 on the NSE on Thursday. The results were released post-market hours. Over the past six months, the stock has fallen around 8%, while its year-to-date decline stands at 14%.
The stock reached its 52-week high of ₹147.70 on December 6, 2024, and a low of ₹103.10 on January 28, 2025. As of November 6, 2025, the company’s market capitalisation stood at ₹91,030.76 crore, according to NSE data.
Industry Outlook
Industry experts believe that NBFCs like Bajaj Housing Finance are likely to benefit from a stable interest rate outlook and steady demand in the housing segment. The company’s conservative risk management and expanding AUM base position it well for future growth.
