Overview

Detailed Summary

SRG Housing Finance Limited is an NHB-registered housing finance company focused on small-ticket rural housing loans (average ticket under Rs 12 lakhs) serving new-to-credit and underserved, largely self-employed borrowers across seven states through a 95-branch network, concentrating on low LTV lending and repair/renovation and construction financing for rural homeowners and small entrepreneurs.
The company reported AUM of Rs 944 crore as on 31 December 2025 with Q3FY26 disbursements of Rs 107 crore and 9M disbursements of Rs 303.93 crore; Q3FY26 NII and PBT expansion supported a PAT of Rs 8.21 crore in the quarter and 9MFY26 PAT of Rs 23.24 crore, reflecting steady profitability through scale.
Asset quality remains controlled: Gross NPA at 1.83% and Net NPA at 0.68% in Q3FY26, with 97% of EMIs collected via banking channels and extensive use of women co-borrowers; these underwriting practices, combined with low average LTV of 49% and localized collateral policies, underpin portfolio resilience in underserved rural segments.
Capital and liquidity positioning show tangible buffers: shareholders’ funds of Rs 288 crore, Tier I capital of 38.6%, liquid investments of ~Rs 91.3 crore plus cash and undrawn sanctions totaling ~Rs 148.93 crore, supported by recent preferential equity raises and private placement NCD issuance to finance branch growth and incremental AUM.
SRG is investing in its digital backbone, SRG SRAJAN, combining LOS, LMS and collection modules with real-time credit decisioning, auto-debit collections and early-warning signals to reduce turnaround times and collection costs; management highlights 15-day sanction-to-disbursement TAT as a competitive advantage for rural customer acquisition and retention.

Sector: Finance
Industry: Housing Finance Company
Market Cap: 438 Cr
Volatility: Low Risk
P/E Ratio: 13.5
Industry P/E: 17.8
PEG Ratio: 2.1
P/B Ratio: 1.5
52W High: 344.00
52W Low: 222.35

Sales CAGR

1Y: 22.04%
3Y: 24.14%
5Y: 16.18%
10Y: 34.93%

Profit CAGR

1Y: 15.86%
3Y: 6.28%
5Y: 6.30%
10Y: 33.05%

ROE

TTM: 10.94%
3Y: 11.23%
5Y: 13.30%
10Y: 14.87%

ROCE

TTM: 10.20%
3Y: 11.42%
5Y: 12.20%
10Y: 12.69%

Technicals

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Forecasts

Peers

Financial Services Financial Services Finance Housing Finance Company

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GICHSGFIN		149.40	807 Cr	5.22	0.38	3.00	7.35	7.53	1.37
SRGHFL		275.75	433 Cr	13.33	1.46	0.00	10.94	10.20	2.77
RHFL		2.09	101 Cr	4.19	0.00	0.00	7.65	25.35	1529.75
STARHFL		7.17	57 Cr	8.54	0.39	1.39	5.59	11.56	1.20
INDBNK		47.80	48 Cr	-531.11	0.00	0.00	0.07	-0.46	-0.46
INDIAHOME		30.10	44 Cr	489.22	1.06	0.00	0.23	8.78	0.09
SAHARAHOUS		41.46	29 Cr	85.35	0.55	0.00	0.65	3.04	0.49
Median: 7 Co.	—	41.46	57 Cr	8.54	0.39	0.00	5.59	8.78	1.20

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	32	36	34	36	39	43	42	48	50	57
Expenses	11	14	12	12	15	17	17	19	19	22
Interest	13	14	14	15	17	17	17	18	20	23
Financing Profit	7.81	8.91	8.19	9.16	7.58	8.72	8.31	11	11	13
Financing Margin %	24.61	24.65	24.25	25.40	19.47	20.40	19.92	23.41	22.04	22.59
Other Income	0.47	0.41	0.21	0.78	1.30	0.74	0.98	0.64	0.80	0.10
Depreciation	1.58	1.71	1.52	1.62	1.71	1.79	1.44	1.51	1.53	1.43
Profit Before Tax	6.70	7.61	6.88	8.33	7.17	7.67	7.85	10	10	12
Tax %	20.60	19.97	14.83	20.77	19.94	19.30	13.63	20.06	20.98	20.19
Net Profit	5.32	6.09	5.86	6.60	5.74	6.19	6.78	8.25	8.21	9.25
EPS in Rs	3.26	3.82	3.73	4.20	3.79	4.42	4.31	5.25	5.23	5.89
Gross NPA %	2.37	2.29	2.19	1.96	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.62	0.69	0.67	0.59	0.00	0.00	0.00	0.00	0.00	0.00

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	15	34	58	72	74	79	91	125	152	159
Expenses	4.47	11	15	18	20	22	32	44	56	61
Interest	5.74	11	23	30	31	31	37	51	62	65
Financing Profit	4.31	11	20	24	23	26	22	30	34	34
Financing Margin %	29.69	33.49	34.24	32.96	30.88	33.38	24.15	24.05	22.21	21.18
Other Income	0.03	0.13	0.18	1.02	3.07	1.26	2.43	1.87	3.05	3.80
Depreciation	0.32	0.44	0.55	2.13	2.02	2.17	3.46	5.78	6.65	6.56
Profit Before Tax	4.03	11	19	22	24	26	21	26	30	31
Tax %	305.12	365.59	403.75	497.50	481.22	490.21	527.95	517.87	530.87	18.41
Net Profit	2.71	8.08	15	18	19	20	17	21	24	25
EPS in Rs	1.80	5.37	9.32	11.45	12.00	12.94	10.81	13.00	16.15	20.68
Dividend Payout %	—	—	—	—	—	—	—	—	—	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	13	13	13	13	13	13	13	13	16
Reserves	5.09	21	29	44	62	81	101	120	146	248
Borrowings	32	61	135	255	246	286	287	357	491	584
Other Liabilities	11	18	41	9.77	10	14	18	17	19	21
Total Liabilities	59	112	218	322	331	393	418	508	670	869
Fixed Assets	0.84	0.75	1.14	1.52	3.96	2.62	7.38	24	27	24
CWIP	0.00	0.00	0.00	0.08	0.31	2.09	5.24	0.74	0.48	0.48
Investments	0.00	0.00	0.00	0.63	9.33	26	27	12	8.81	36
Other Assets	59	112	217	319	317	363	379	471	635	809
Total Assets	59	112	218	322	331	393	418	508	670	869

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-13	-24	-90	-66	23	-27	3.45	-83	-140	-131
Cash from Investing Activity	-1.67	0.23	-0.83	-1.06	-9.30	-19	-6.47	8.58	-0.63	-31
Cash from Financing Activity	16	44	74	89	-9.39	40	0.88	73	139	173
Net Cash Flow	1.86	20	-16	21	4.75	-5.88	-2.14	-1.41	-2.21	10

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Aug 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	67.83%	67.83%	67.83%	68.56%	67.54%	64.69%	64.79%	59.13%	59.11%	59.11%	59.06%	59.03%
FIIs	0.15%	0.15%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%
DIIs	0.34%	0.58%	0.72%	0.00%	0.00%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%
Public	31.67%	31.43%	31.44%	31.43%	32.46%	35.29%	35.20%	40.86%	40.88%	40.89%	40.94%	40.97%
Total Shareholders	1,555	1,812	2,366	2,170	2,217	2,815	2,837	2,945	2,682	2,618	2,540	2,624

Market Transactions

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Projection

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan