IIFL Finance Ltd(IIFL)

NSE: IIFLBSE: 532636

₹ 528.95-0.52%refreshed 26 Oct, 01:14 pm ISTMarket cap: ₹ 22,576 crWebsite: www.iifl.comUpdated: 24 Oct 2026

About

IIFL Finance Ltd is an Indian NBFC offering gold loans, home loans, MSME loans and microfinance, including through its subsidiaries IIFL Home Finance and IIFL Samasta Finance. As of Q2 FY27, consolidated AUM stood at ₹1,24,268 Cr, up 38% YoY, with gold loans making up 52.9% of it. It lends on its own books and also through co-lending and direct assignment, and reported FY26 revenue of 13350.8 crore.^[1][2][3]

Loan book mix

Gold loans: AUM of ₹65,729 Cr in Q2 FY27, up 90% YoY and 13% QoQ; 52.9% of consolidated AUM and the main growth driver.^[1]
Home loans (IIFL Home Finance): AUM of ₹43,070 Cr in Q2 FY27, up 4% QoQ; disbursements of ₹3,498 Cr in the quarter.^[1]
MSME: AUM up 11% QoQ to ₹11,948 Cr in Q2 FY27, with unsecured exposure cut back.^[1]
Microfinance: AUM of ₹9,489 Cr in Q2 FY27, broadly flat QoQ; Samasta disbursements fell 11% QoQ.^[1]
Core products (home, gold, MSME, MFI) made up 96.7% of consolidated AUM in Q1 FY27; unsecured personal and business loans have been discontinued.^[2]
IIFL Home Finance described itself as India's leading housing finance company in the sub-₹20 Lakhs ticket size segment in FY25.^[4]

Asset quality and credit metrics

Consolidated GNPA of 1.48% in Q2 FY27, down 66 bps YoY; NNPA of 0.9%, down 13 bps YoY; provision coverage of 91%.^[1]
Loan losses and provisions fell 44% YoY in Q2 FY27; microfinance GNPA improved by 46 bps.^[1]
Credit cost was about 1.6% in Q1 FY27; FY27 guidance is 1.5% - 1.7%. The FY28-FY30 plan targets credit cost of 1.0-1.2%.^[2][1]
Home loan GNPA fell to 1.46% in Q1 FY27 after an ARC sale of ~₹875 Cr of legacy micro-LAP and BLC portfolio in Q3 FY26.^[2]

Off-book and co-lending model

Off-book AUM (direct assignment plus co-lending) was ₹42,796 Cr in Q2 FY27, or 34% of AUM, with 18 active bank co-lending partners.^[1]
Off-book income fell 7% QoQ in Q2 FY27; Home Finance off-book income fell 33% YoY.^[1]
Cumulative co-lending originations exceeded ₹50,000 Cr with zero losses as of Q4 FY26; gold co-lending has restarted under RBI's CLM-1 framework.^[2]
The company targets off-book loan assets of ~40% of AUM by FY30.^[1]

Funding, capital and returns

Yield was 16.50% in Q2 FY27, up 0.26% YoY; cost of borrowing was 9.08%, up 0.01% YoY.^[1]
CRAR was 23.5% and net gearing 4.1x in Q2 FY27, against a gearing target of ≤4.5x.^[1][2]
ROA of 3.2% in Q2 FY27, up 99 bps; ROE of 20.8%, up 890 bps. Opex/AUM fell to 3.3%.^[1]
FY28-FY30 three-year plan targets: ~20% AUM CAGR, ROA of 3.6-3.8% and ROE of 18-20%.^[1]
S&P affirmed its B+ rating and moved the outlook to Positive in Q3 FY26; Fitch moved its outlook to Positive in Q2 FY26.^[5]

Distribution and customers

The standalone entity opened 105 branches and added 3.5L customers in Q2 FY27; the network now has 5,091 branches.^[1]
About 84% of branches were in non-metro areas in FY25; gold loans were offered through 2,833 branches across 26 states and UTs.^[4]
About 86% of customers were from the economically weaker section (₹0-3 Lakhs annual income) in FY25.^[4]
500 new branches are planned across the group for FY27, including ~100 for IIFL Home Finance.^[2][6]

AI and technology initiatives

AI initiatives (face recognition, video analytics, finance automation) are slated to scale up by Q4 FY27.^[1]
Voice AI gold-loan acquisition cost is targeted at below 0.3% of loan value at scale.^[1]
As of Q4 FY26, AI generated a monthly loan pipeline of ~₹1,000 Cr and assisted ~₹450 Cr of monthly collections.^[6]

Recent developments

The board is evaluating a partial stake sale or listing of IIFL Samasta Finance, and is also considering a demerger into three listed entities (Q1 FY27).^[2]
The board approved an enabling resolution for an equity raise, subject to AGM approval on 24 July 2026.^[2]
The wind-up of the security receipts book has been pushed back to September 2027 from CY2026.^[2]
ADIA invested ₹22 Billion for a 20% stake in IIFL Home Finance (FY25).^[4]

Market Cap

₹22,576 Cr

High / Low

₹705 / 409

Stock P/E

9.1

Price / Book

1.5

Book Value

₹327

EPS

₹39.0

No. of Shares

42.53 Cr

ROE

12.6%

Debt / Equity

4.97

Sales

₹13,351 Cr

Net Profit

₹1,817 Cr

Promoter holding

24.8%

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IIFL Finance Ltd(IIFL)

About

Loan book mix

Asset quality and credit metrics

Off-book and co-lending model

Funding, capital and returns

Distribution and customers

AI and technology initiatives

Recent developments

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