Aadhar Housing Finance loan book reaches Rs 26,543.23 crore

Aadhar Housing Finance Limited reported housing and other loans of Rs 26,543.23 crore at September 30, 2026, up Rs 1,703.64 crore from March 31, 2026, while borrowings other than debt securities rose Rs 2,151.94 crore to Rs 17,216.17 crore. The standalone unaudited balance sheet shows loan growth alongside changes in the lender’s funding mix.

How much did Aadhar Housing Finance’s loan book grow?

Aadhar Housing Finance’s housing and other loans rose 6.86% over the six months ended September 30, 2026, to Rs 26,543.23 crore from Rs 24,839.59 crore at March 31, 2026. The Rs 1,703.64 crore increase was the largest movement among financial assets and accompanied a Rs 1,966.74 crore increase in total financial assets.

Aadhar Housing Finance reports one operating segment, housing finance business within financial services, and describes other activities as incidental to that business. Its balance-sheet line combines housing and other loans, so the filing does not provide separate outstanding balances for those two categories. Total assets rose Rs 1,976.19 crore to Rs 29,366.09 crore at September 30 from Rs 27,389.90 crore at March 31.

Cash and cash equivalents increased Rs 155.91 crore to Rs 868.90 crore during the six-month period, while bank balances other than cash rose Rs 38.98 crore to Rs 539.03 crore. Derivative financial instruments increased Rs 28.97 crore to Rs 98.91 crore, whereas investments increased Rs 1.46 crore to Rs 632.55 crore. These movements occurred alongside the loan-book increase, although the balance sheet does not allocate individual funding sources to specific asset uses.

How did Aadhar Housing Finance fund its lending expansion?

Aadhar Housing Finance increased borrowings other than debt securities by Rs 2,151.94 crore to Rs 17,216.17 crore at September 30, 2026, from Rs 15,064.23 crore at March 31. Debt securities moved in the opposite direction, declining Rs 445.27 crore to Rs 3,173.90 crore. The two liability lines indicate that non-debt-security borrowings increased while outstanding debt securities decreased over the six months.

The half-year cash-flow statement records Rs 2,442.45 crore of proceeds from loans from banks and institutions, Rs 746 crore from National Housing Bank loans, Rs 201.09 crore from commercial papers and Rs 600 crore from non-convertible debentures. Aadhar Housing Finance also repaid Rs 753.01 crore of bank and institution loans, Rs 296 crore of National Housing Bank loans, Rs 300 crore of commercial papers and Rs 957.75 crore of non-convertible debentures.

Net cash generated from financing activities was Rs 1,695.91 crore for the half year ended September 30, 2026, compared with Rs 1,256.10 crore in the corresponding 2025 period. Cash used in operating activities was Rs 1,556.78 crore, compared with Rs 1,261.12 crore a year earlier. The filing records loan disbursements of Rs 4,613.05 crore, proceeds from assignment and co-lending of Rs 961.50 crore, and loan repayments received of Rs 1,937.62 crore in the 2026 half year.

What changed in Aadhar Housing Finance’s capital and leverage measures?

Aadhar Housing Finance’s equity increased Rs 660.48 crore to Rs 8,195.08 crore at September 30, 2026, comprising Rs 438.39 crore of equity share capital and Rs 7,756.69 crore of other equity. At March 31, 2026, equity was Rs 7,534.60 crore, comprising Rs 435.70 crore of share capital and Rs 7,098.90 crore of other equity. The Rs 1,976.19 crore expansion in total assets was therefore accompanied by higher equity as well as changes in financial liabilities.

Aadhar Housing Finance reported a debt-equity ratio of 2.35 at September 30, 2026, calculated after specified deductions for cash, cash equivalents and liquid mutual-fund investments. Total debts to total assets were 70.26%, while the capital adequacy ratio, or CRAR, was 42.11%. The liquidity coverage ratio, or LCR, measured as the average of the preceding 90 days, was 239.76%.

Other financial liabilities declined Rs 345.28 crore to Rs 550.31 crore at September 30 from Rs 895.59 crore at March 31. Trade payables due to creditors other than micro enterprises and small enterprises declined Rs 31.79 crore to Rs 90.93 crore. Deposits were Rs 0.37 crore at September 30, compared with Rs 0.46 crore six months earlier, while provisions increased Rs 3.42 crore to Rs 48.25 crore.

What do Aadhar Housing Finance’s asset-quality disclosures show?

Aadhar Housing Finance reported gross non-performing assets, or GNPA, of 1.35% of total gross loans at September 30, 2026, and net non-performing assets, or NNPA, of 0.89%. Its provision coverage ratio, defined as impairment allowance on Stage 3 loans divided by Stage 3 gross loans, was 34.53%. The filing presents these ratios for the September 2026 quarter and half year without a March 2026 comparison.

Impairment on financial instruments was Rs 55.91 crore for the half year ended September 30, 2026, compared with Rs 39.88 crore in the half year ended September 30, 2025. Aadhar Housing Finance said it did not transfer or acquire stressed or default loans during the 2026 half year. It assigned 10,216 loan accounts that were not in default, with balances of Rs 961.50 crore, a weighted average maturity of 150 months and a 10% minimum retention requirement.

The Covid-19 resolution disclosure showed standard personal-loan exposure of Rs 169.57 crore at March 31, 2026. Of that amount, Rs 6.45 crore slipped into non-performing assets in the following half year, Rs 0.13 crore was written off and borrowers paid Rs 10.99 crore. Closing exposure was Rs 153.35 crore at September 30, including Rs 1.35 crore of restructured loans upgraded from non-performing to standard assets.

How did Aadhar Housing Finance’s earnings compare with the prior period?

Aadhar Housing Finance reported standalone profit after tax of Rs 590.60 crore for the half year ended September 30, 2026, compared with Rs 503.65 crore in the half year ended September 30, 2025. Total income rose Rs 294.37 crore to Rs 2,044.84 crore, while finance costs increased Rs 92.90 crore to Rs 765.46 crore. The year-on-year increase in profit after tax was Rs 86.95 crore.

Interest income increased Rs 252.39 crore year on year to Rs 1,811.86 crore, while revenue from operations rose Rs 295.30 crore to Rs 2,040.47 crore. Total expenses increased Rs 181.72 crore to Rs 1,284.25 crore, including a Rs 67.34 crore increase in employee benefits expense. The net profit margin was 28.88% for the half year ended September 30, 2026, compared with 29.42% for the September 2026 quarter.

Basic earnings per share were Rs 13.52 for the six months ended September 30, 2026, compared with Rs 11.66 in the prior-year half year. Aadhar Housing Finance allotted 10,56,040 equity shares of Rs 10 each during the September 2026 quarter after employee stock-option exercises. The audit committee reviewed, and the board approved, the standalone results on November 5, 2026.

Conclusion

Aadhar Housing Finance added Rs 1,703.64 crore of housing and other loans in the six months to September 30, 2026, while borrowings other than debt securities increased Rs 2,151.94 crore and debt securities declined Rs 445.27 crore. Higher financing cash inflows, an Rs 660.48 crore increase in equity and a Rs 1,695.91 crore net financing cash inflow occurred alongside the larger loan book.

The next disclosures to watch include changes in funding mix, loan disbursements and repayments, and asset-quality measures after GNPA was reported at 1.35% and NNPA at 0.89% at September 30, 2026. Management also said it would monitor central and state rules and government clarifications on labour codes after recording a Rs 15.92 crore exceptional item for the year ended March 31, 2026.