Aptus Value Housing Q4 FY26 PAT up 26% YoY

Stock reaction: shares jump over 8%

Aptus Value Housing Finance rallied 8.26% to Rs 289 after reporting a sharp year-on-year improvement in its March-quarter results. The move came as investors reacted to higher profitability, faster growth in the loan book, and continued expansion in disbursements. The rally also followed commentary from the company’s leadership on operational execution and credit discipline. The quarter ended 31 March 2026 is typically closely watched because it closes the financial year and offers clues on growth momentum. In this case, the company reported double-digit growth across profit, revenue, AUM, and disbursements. At the same time, asset quality indicators moved up on a year-on-year comparison.

Q4 FY26 earnings: profit and revenue rise

For Q4 FY26, consolidated net profit rose 26.05% year-on-year to Rs 260.95 crore. Revenue from operations increased 18.66% to Rs 574.33 crore over the same period. The company also reported profit before tax (PBT) of Rs 327.56 crore, up 20.89% year-on-year. The year-on-year comparison is against Q4 FY25. The reported numbers indicate that profitability outpaced revenue growth during the quarter. These figures were central to the positive market reaction in the stock.

Disbursements hit a quarterly high

Aptus reported disbursements of Rs 1,242 crore in Q4 FY26, up 17% year-on-year. The company also described this as its highest quarterly disbursement, linking it to stronger growth momentum. Alongside the year-on-year rise, the company stated that the same Rs 1,242 crore disbursement reflected 21% quarter-on-quarter growth. Disbursement trends are a key operating metric for housing finance companies as they feed into future AUM growth. The Q4 figure, as presented by the company, suggests strong execution through the quarter. Investors often track whether disbursement growth is supported by stable credit quality, given the long-tenor nature of housing loans.

AUM expands 21% to Rs 13,107 crore

Asset under management (AUM) increased 21% year-on-year to Rs 13,107 crore in Q4 FY26. The company reiterated that this AUM growth was driven by the strong disbursement performance in the quarter. Aptus also reported AUM at Rs 13,107 crore for FY26. AUM is one of the most closely watched indicators for lenders as it captures the scale of the loan portfolio. The year-on-year expansion signals that the company continued to grow its book into the end of FY26. The market typically weighs AUM growth alongside margins, cost-to-income, and asset quality trends.

Asset quality: Gross NPA and Net NPA rise

The company reported a rise in its gross non-performing assets (NPA) ratio to 1.5% as on 31 March 2026. This was up by 33 basis points from 1.2% as on 31 March 2025. Net NPA stood at 1.2% as on 31 March 2026, up 26 basis points from 0.9% a year earlier. These ratios show that, while the company grew its book, headline delinquency metrics moved higher compared with the previous year. Investors in housing finance and NBFC stocks tend to track even small changes in NPA ratios, because they can influence future credit costs and growth appetite. The reported ratios provide a snapshot of the portfolio’s performance at the financial year-end.

FY26 performance: profit crosses Rs 940 crore

On an annual basis, Aptus reported consolidated net profit of Rs 942.94 crore in FY26, a 25.52% increase over FY25. Total revenue from operations rose 25.24% to Rs 2,192.23 crore in FY26 over FY25. The company’s FY25 net profit was stated at Rs 751.25 crore, while FY25 sales were stated at Rs 1,750.41 crore. The FY26 revenue figure was also presented as Rs 2,192.24 crore in a separate line item, reflecting rounding in reporting. Taken together, the annual numbers indicate a year of strong growth in both the top line and bottom line. The annual AUM figure was reiterated at Rs 13,107 crore.

What management said about growth and execution

P. Balaji, managing director, said Q4 FY26 saw further strengthening of growth momentum. He attributed this to technology enhancements and ongoing process improvements, along with continued focus on credit quality. The company’s commentary linked business momentum to operating execution rather than one-off factors. For lenders, such references often relate to faster credit assessment, improved collections workflows, and better customer onboarding. The management also connected AUM growth to the quarter’s record disbursements. These statements were presented alongside the financial and operating metrics reported for the quarter.

Key numbers at a glance

Market impact and what investors may track next

The immediate market impact was reflected in the stock’s 8.26% jump to Rs 289 following the earnings update. From a fundamentals perspective, investors received a set of numbers showing strong growth in profit, revenue, disbursements, and AUM for Q4 FY26 and FY26. At the same time, the year-on-year rise in gross and net NPA ratios is a datapoint likely to stay in focus in subsequent quarters. Another key element for the market is whether the company sustains the disbursement pace indicated by the Rs 1,242 crore quarterly figure. Investors also tend to watch whether operating improvements referenced by management translate into stable portfolio performance. The company has positioned technology enhancements and process improvements as contributors to momentum. Future updates around credit quality, disbursement trends, and portfolio metrics will shape how the market evaluates this growth phase.

Conclusion

Aptus Value Housing Finance’s Q4 FY26 results showed 26.05% growth in consolidated net profit to Rs 260.95 crore on 18.66% higher revenue, alongside higher disbursements and 21% AUM growth to Rs 13,107 crore. The stock rose 8.26% to Rs 289 after the announcement. While growth indicators were strong, gross and net NPA ratios increased year-on-year as of 31 March 2026. Management highlighted technology and process improvements, alongside an ongoing focus on credit quality. The next set of quarterly disclosures will be watched for how these trends in growth and asset quality evolve.