Aadhar Housing Finance Ltd
AADHARHFC NSE
Aadhar Housing Finance Ltd
Financial ServicesNSE: AADHARHFC BSE: 544176 Finance
Aadhar Housing Finance Ltd is one of the largest low-income housing finance companies in India servicing the home financing needs of the low income sections of the society. [1]
AI Verdict: BUY Confidence: 7%
Aadhar Housing Finance offers strong profit growth of 25% CAGR over 3 years with a reasonable PE of 19.4x for a housing finance company. Unanimous analyst consensus (12/12 Buy) and consistent ROE of 16-17% support the investment case, though premium valuation at 2.82x book and zero dividend payout warrant monitoring.
Key Fundamentals
SmallcapHousing FinanceFinancial ServicesMarket Cap
₹22,566 Cr
Volatility
Moderate
P/E Ratio
20.53
EBITDA
₹2,788 Cr
Return on Equity
14.73%
Debt to Equity
2.8
Book Value
₹172.46
EPS
₹18.84
52W High
₹547.8
52W Low
₹411.3
Technical Indicators
Key Insights
Strengths
1- Company has delivered good profit growth of 26.6% CAGR over last 5 years
Weaknesses
3- Stock is trading at 2.93 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -10.3%
Growth Rate
Revenue Growth
18.13% ↗
Net Income Growth
20.39% ↗
Cash Flow Change
-18.69% ↘
ROE
-15.07% ↘
ROCE
-2.18% ↘
EBITDA Margin (Avg.)
-0.90% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoBUY
Risk medium
Aadhar Housing Finance offers strong profit growth of 25% CAGR over 3 years with a reasonable PE of 19.4x for a housing finance company. Unanimous analyst consensus (12/12 Buy) and consistent ROE of 16-17% support the investment case, though premium valuation at 2.82x book and zero dividend payout warrant monitoring.
Bull Case 8
- Compounded profit growth of 25% CAGR over 3 years significantly outpaces sector average for housing finance companies
- Unanimous analyst consensus with 100% Buy ratings from all 12 analysts covering the stock
- Consistent ROE of 16-17% over the last 3-5 years indicates stable return generation on equity capital
- PE ratio of 19.4x is reasonable for a housing finance company delivering 22% TTM profit growth
- Compounded sales growth of 22% over 3 years demonstrates strong loan book expansion in affordable housing segment
- 5-year compounded profit CAGR of 27% reflects sustained earnings momentum and operating leverage
- Market cap of Rs 21,224 Cr provides adequate liquidity and institutional interest while retaining mid-cap growth potential
- Stock price appreciation of 18% over 1 year shows positive market sentiment and price discovery post-listing
Bear Case 8
- Stock trades at 2.82x price-to-book value which is premium for an affordable housing finance company
- Zero dividend yield despite reporting repeated profits indicates no capital return to shareholders
- Promoter holding decreased by 10.3% in the last quarter raising concerns about insider confidence
- ROE declined from 17% (3-year and 5-year average) to 16% in the last year suggesting marginal return compression
- No 52-week high/low data available limits technical analysis and understanding of price range volatility
- Debt-to-equity ratio unavailable makes it difficult to assess leverage risk in a rising interest rate environment
- Affordable housing finance sector faces NPA risk from economically weaker borrower segments which could pressure asset quality
- PEG ratio of approximately 0.88 (PE 19.4 / profit growth 22%) is near fair value leaving limited margin of safety
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 14h ago Positives 3
- FY26 PAT up 22% YoY Jun 9
Aadhar Housing Finance reported FY26 PAT of $117 Mn, up 22% YoY. AUM grew 20% YoY to $3,218 Mn, in line with guidance.
- 20-22% growth guidance maintained Jun 23
Company reaffirmed FY27 guidance of 20-22% AUM and profit growth, with disbursement growth of 17-18%. LAP portfolio to be capped at 27-28% of mix.
- ₹250 crore NCD allotment Jun 18
Allotted 25,000 NCDs worth ₹250 crore on private placement with ICRA AA Positive rating, signaling strong access to debt capital at favorable terms.
Neutral 3
- Investor roadshows and analyst meet Jun 15
Company scheduled non-deal roadshows across Mumbai, Hong Kong, Singapore, and Tokyo (Jun 5-19) and an analyst meet on Jun 24 at JM Financial India Finance Forum.
- BCP Asia confirms no encumbrance Jun 18
Promoter entity BCP Asia disclosed no encumbrance on Aadhar shares in FY26. Non-disposal undertaking furnished to NHB on Apr 7, 2026.
- Timely NCD interest payment Jun 5
Paid ₹15.52 crore interest on NCDs due Jun 5, 2026, on schedule per SEBI regulations.
TL;DR: Aadhar Housing Finance is executing well with 22% PAT growth in FY26 and consistent 20%+ AUM expansion, backed by reaffirmed FY27 guidance. No visible headwinds in recent news flow — debt funding access remains strong with AA+ rated instruments. Active investor engagement across global markets suggests potential for broader institutional interest. The trend is steady and constructive as long as asset quality holds and growth targets are met.
Quarterly Results
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 555 | 593 | 629 | 673 | 692 | 713 | 764 | 798 | 833 | 848 | 897 | 943 | 985 |
| Expenses | 133 | 166 | 132 | 156 | 166 | 173 | 180 | 187 | 197 | 207 | 208 | 214 | 240 |
| Financing Profit | 209 | 192 | 258 | 266 | 264 | 263 | 299 | 314 | 321 | 309 | 348 | 382 | 401 |
| Fin. Margin % | 38% | 32% | 41% | 40% | 38% | 37% | 39% | 39% | 39% | 36% | 39% | 40% | 41% |
| Other Income | -25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 2 | -15 | 8 |
| Interest | 213 | 235 | 239 | 251 | 262 | 277 | 285 | 297 | 315 | 332 | 342 | 348 | 343 |
| Depreciation | 4 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 11 |
| PBT | 180 | 187 | 253 | 261 | 259 | 257 | 292 | 308 | 316 | 305 | 343 | 360 | 398 |
| Tax % | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 22% |
| Net Profit | 141 | 146 | 197 | 204 | 202 | 200 | 228 | 239 | 245 | 237 | 266 | 281 | 311 |
| EPS in Rs | 3.56 | 3.71 | 5 | 5.17 | 5.11 | 4.69 | 5.29 | 5.56 | 5.68 | 5.49 | 6.15 | 6.48 | 7.14 |
| Gross NPA % | — | 1.46% | 1.4% | 1.4% | 1.1% | 1.31% | 1.3% | 1.36% | 1.05% | 1.34% | 1.4% | 1.38% | 1.08% |
| Net NPA % | — | 1.1% | 0.9% | 0.97% | 0.7% | 0.9% | 0.9% | 0.95% | 0.7% | — | — | 1.01% | 0.8% |
Profit & Loss
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,266 | 1,388 | 1,575 | 1,728 | 2,043 | 2,587 | 3,108 | 3,673 |
| Expenses | 276 | 350 | 316 | 387 | 507 | 619 | 736 | 869 |
| Financing Profit | 258 | 245 | 444 | 580 | 737 | 981 | 1,197 | 1,440 |
| Fin. Margin % | 20% | 18% | 28% | 34% | 36% | 38% | 39% | 39% |
| Other Income | -14 | -2 | 0 | 0 | -25 | 0 | 1 | -2 |
| Interest | 732 | 793 | 816 | 761 | 799 | 987 | 1,174 | 1,364 |
| Depreciation | 9 | 12 | 11 | 13 | 16 | 21 | 25 | 32 |
| PBT | 235 | 231 | 433 | 567 | 696 | 960 | 1,173 | 1,406 |
| Tax % | 31% | 18% | 21% | 22% | 22% | 22% | 22% | 22% |
| Net Profit | 162 | 189 | 340 | 445 | 545 | 750 | 912 | 1,096 |
| EPS in Rs | 64.37 | 47.99 | 8.62 | 11.27 | 13.8 | 18.99 | 21.14 | 25.15 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 39 | 395 | 395 | 395 | 395 | 431 | 436 |
| Reserves | 834 | 2,308 | 2,298 | 2,752 | 3,303 | 4,055 | 5,941 | 7,105 |
| Borrowing | 8,195 | 9,643 | 10,374 | 10,675 | 12,153 | 13,960 | 16,322 | 18,744 |
| Other Liabilities | 426 | 376 | 563 | 554 | 766 | 683 | 529 | 1,114 |
| Total Liabilities | 9,480 | 12,366 | 13,630 | 14,376 | 16,618 | 19,093 | 23,224 | 27,399 |
| Fixed Assets | 42 | 44 | 53 | 55 | 63 | 80 | 92 | 138 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 150 | 24 | 497 | 338 | 459 | 462 | 513 | 637 |
| Other Assets | 9,289 | 12,298 | 13,080 | 13,982 | 16,095 | 18,551 | 22,618 | 26,624 |
| Total Assets | 9,480 | 12,366 | 13,630 | 14,376 | 16,618 | 19,093 | 23,224 | 27,399 |
Cash Flow
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating | -2,554 | -1,785 | -1,202 | -907 | -1,156 | -2,550 | -3,027 | -2,808 |
| Investing | -49 | -1,495 | -480 | 823 | -477 | 723 | 160 | 309 |
| Financing | 3,356 | 3,701 | 701 | 275 | 1,463 | 1,778 | 3,389 | 2,336 |
| Net Cash Flow | 754 | 422 | -981 | 191 | -169 | -49 | 522 | -164 |
| Free Cash Flow | -2,562 | -1,788 | -1,207 | -918 | -1,166 | -2,565 | -3,041 | -2,827 |
| CFO/OP | -250 | -165 | -88 | -59 | -66 | -118 | -117 | -89 |
Ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| ROE % | 20% | 12% | 14% | 15% | 16% | 18% | 17% | 16% |
Documents
1
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
10h - Transcript of the Earnings Conference Call for the Financial Year ended March 31, 2026 10h - Transcript of the Earnings Conference Call for the Financial Year ended March 31, 2026
2
Announcement under Regulation 30 (LODR)-Newspaper Publication
7 May - Newspaper Publication of Financial Results for the Quarter and financial year ended 31st March, 2026 7 May - Newspaper Publication of Financial Results for the Quarter and financial year ended 31st March, 2026
3
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Disclosure Of ESG Rating
7 May - NSE Sustainability assigned Aadhar Housing Finance ESG rating of 33 for FY 2024-25. 7 May - NSE Sustainability assigned Aadhar Housing Finance ESG rating of 33 for FY 2024-25.
4
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
1d - ICRA report for quarter ended 31 March 2026 confirms no deviation in IPO proceeds utilization. 1d - ICRA report for quarter ended 31 March 2026 confirms no deviation in IPO proceeds utilization.
5
Statement Of Deviation For The Quarter Ended March 31, 2026
1d - Reported full utilization of listed NCD and IPO proceeds for quarter ended March 31, 2026; no deviation. 1d - Reported full utilization of listed NCD and IPO proceeds for quarter ended March 31, 2026; no deviation.
Frequently Asked Questions about Aadhar Housing Finance Ltd
What does Aadhar Housing Finance Ltd do?
Aadhar Housing Finance Ltd is one of the largest low-income housing finance companies in India servicing the home financing needs of the low income sections of the society. [1]
Where is Aadhar Housing Finance Ltd (AADHARHFC) listed?
Aadhar Housing Finance Ltd is listed on the Indian stock exchanges. It is listed on NSE: AADHARHFC and BSE: 544176. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Aadhar Housing Finance Ltd belong to?
Aadhar Housing Finance Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Aadhar Housing Finance Ltd?
Aadhar Housing Finance Ltd has a market capitalisation of approximately ₹22565.84 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Aadhar Housing Finance Ltd?
The Price-to-Earnings (PE) ratio of Aadhar Housing Finance Ltd is 20.53. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Aadhar Housing Finance Ltd?
Over the past 52 weeks, Aadhar Housing Finance Ltd has traded between a low of ₹411.3 and a high of ₹547.8. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Aadhar Housing Finance Ltd?
Aadhar Housing Finance Ltd has a Return on Equity (ROE) of 14.73%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Aadhar Housing Finance Ltd on Tapetide?
On Tapetide, you can view Aadhar Housing Finance Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Aadhar Housing Finance Ltd is one of the largest low-income housing finance companies in India servicing the home financing needs of the low income sections of the society. [1]
Website aadharhousing.com
CEO Mr. Rishi Anand
Employees 4,583
Listed 2024-05-15
Face Value ₹ 10
Issued Size 43,37,96,312