Bajaj Housing Finance Q4FY26: 23% AUM, ₹17,530cr

Key update filed under SEBI disclosure rules

Bajaj Housing Finance Limited reported a strong operational update for the quarter ended 31 March 2026 (Q4FY26), highlighting growth in disbursements and its asset base. The company filed the business update under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also referenced Schedule A of Regulation 8 of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The company said the figures as of 31 March 2026 are provisional and subject to review by statutory auditors. The update focused on core business indicators such as gross disbursements, assets under management (AUM), and loan assets.

Q4FY26 disbursements rise nearly 23% year-on-year

Bajaj Housing Finance reported gross disbursements of approximately ₹17,530 crore in Q4FY26. This represented a 22.95% year-on-year increase from ₹14,254 crore in Q4FY25.

Higher disbursements typically reflect both demand and distribution execution, and the company linked the growth to business momentum and market demand in housing finance. The update did not provide a product mix breakup for Q4FY26, but it positioned the disbursement performance as a key driver of scale.

AUM expands 23% to ₹1,40,700 crore

The company’s AUM rose 23% year-on-year to approximately ₹1,40,700 crore as of 31 March 2026. This compares with ₹1,14,684 crore as of 31 March 2025.

On a quarter-on-quarter basis, Bajaj Housing Finance stated that AUM grew by approximately ₹7,290 crore during Q4FY26. The update signals continued balance-sheet expansion, with AUM growth tracking the broader increase in lending activity.

Loan assets grow to ₹1,23,740 crore

Bajaj Housing Finance said loan assets (AR) stood at approximately ₹1,23,740 crore as of 31 March 2026. This compares with ₹99,513 crore as of 31 March 2025.

The increase indicates a substantial year-on-year expansion in the loan book. The company described the growth as a sign of continued market presence and customer base expansion.

Snapshot of Q4FY26 operating metrics

How asset quality and profitability looked in Q3FY26

In the preceding quarter, Bajaj Housing Finance reported a 21% year-on-year rise in net profit to ₹665 crore in Q3FY26. Net interest income (NII) increased 19% year-on-year to ₹963 crore, compared with ₹806 crore in the year-ago quarter. Net total income rose 24% to ₹1,153 crore from ₹933 crore.

Asset quality metrics were stable as of 31 December 2025, with gross NPAs at 0.27% and net NPAs at 0.11%. The company also reported provisioning coverage on stage 3 assets of around 59%. Loan losses and provisions rose to ₹56 crore in Q3FY26 from ₹35 crore a year earlier, including a ₹10 crore management overlay release during the quarter.

FY25 financial context from earlier disclosures

For Q4FY25, the company reported revenue of ₹2,508 crore, up 25.6% year-on-year from ₹1,997 crore in Q4FY24. Profit after tax rose 53.8% year-on-year to ₹587 crore in Q4FY25. For FY25, revenue was reported at ₹9,576 crore, up 25.7% from ₹7,618 crore in FY24, while profits increased 24.9% to ₹2,163 crore from ₹1,731 crore.

The same FY25 disclosure also highlighted cost pressures, with finance cost rising 21.2% year-on-year to ₹1,551 crore in Q4FY24 versus ₹1,279 crore in Q4FY24, and employee benefits reported at ₹133 crore in Q4FY25. It added that interest income contributed 94.65% of total revenue in Q4FY25, with interest income at ₹2,373.7 crore.

Competitive intensity and key concerns flagged

The broader narrative around the sector includes heightened competition in prime home loans, which the company has previously said can lead to higher portfolio attrition. A separate set of concerns listed in the provided material included potential weaker demand outlook linked to geopolitical issues, possible cuts to growth expectations, and pressure points around margins, earnings, liability risks, and asset quality.

Separately, a prior media report stated the company had forecast moderation in growth and expected AUM growth of 21%-23% for the financial year at that time, compared with 26% last fiscal, citing rising competition and subdued demand.

Market impact: what the Q4FY26 update changes for investors

The Q4FY26 business update adds fresh datapoints on scale growth ahead of audited numbers, particularly around disbursements and the closing AUM and loan book. The 23% year-on-year AUM growth to ₹1,40,700 crore and the loan assets figure of ₹1,23,740 crore show continued expansion.

But investors also tend to weigh growth against margin and cost trends. Earlier disclosures referenced concerns about narrowing net interest margins (NIMs) and rising costs, even when profitability and AUM were growing. The Q4FY26 update does not provide NII, NIM, or profit figures, so market interpretation will depend on the full financial results and management commentary.

Analysis: why the numbers matter

Gross disbursements of ₹17,530 crore in Q4FY26, up 22.95% year-on-year, point to sustained origination capacity and demand capture. AUM growth to ₹1,40,700 crore provides a clearer view of balance-sheet scale as of 31 March 2026, and the reported ₹7,290 crore quarterly AUM increase signals ongoing momentum.

At the same time, the competitive context matters because pricing pressure in prime home loans can affect yields and profitability even when volumes rise. The company’s recent asset quality indicators, such as gross NPA of 0.27% and net NPA of 0.11% as of December 2025, suggest resilience, but investors will still look for consistency as the loan book expands.

Conclusion

Bajaj Housing Finance’s Q4FY26 operational update reported gross disbursements of ₹17,530 crore and a 23% year-on-year rise in AUM to ₹1,40,700 crore, alongside loan assets of ₹1,23,740 crore. The company has stated the March 2026 figures are provisional and subject to statutory audit review.

The next key trigger is the detailed financial results and management commentary, which should provide clarity on margins, funding costs, and asset quality trends alongside the headline growth numbers.