Housing Finance Company industry
20 companies · ₹2.2 L cr · 11 with AI deep dives · Q1FY27 report
Volume growth intact but NIM compression - not demand - is dragging HFC sector revenue
- Revenue YoY
- +1.5%
- Panel
- 12 cos
- Price, 1 year
- -3.8%
- 33% of names up
- P/E vs own 5y
- +5.2%
- 12.9x now
Exhibit 1The quarter in numbers
constant panel of 12 companies above ₹500 cr- Jun 26
- 19,164 cr
- Mar 26
- 18,656 cr
- QoQ
- +2.7%
- Jun 25
- 18,874 cr
- YoY
- +1.5%
- Peak
- 19,231 cr
- vs peak
- -0.3%
Breadth: 83% of 12 companies grew revenue year on year (was 83% a quarter earlier).
Exhibit 2What it costs
6.22x - 18.41x across the panel todayThe median name trades at 12.9x, +5.2% against this industry's own 5-year median of 12.2x, and -19.4% against its own peak of 16.0x.
Exhibit 3Structure
₹2.2 L crBajaj Housing Finance Ltd is 30.9% of this industry by market cap. The top 5 are 74.7% and the top 10 are 98.4%.
Exhibit 5Coverage (20 of 20)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹12,485 cr
- P/E
- 12.7x
- P/B
- 2.5x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +15.4%
- Mcap
- ₹12,407 cr
- P/E
- 21.3x
- P/B
- 2.8x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +18.6%
- Mcap
- ₹7,114 cr
- P/E
- 18.5x
- P/B
- 2.2x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +19.8%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Disbursements grew materially YoY across the bucket - BAJAJHFL +33%, CANFINHOME +29%, AAVAS +41%, HOMEFIRST +31%, APTUS +36%, LICHSGFIN +14.5%, AADHARHFC +19% like-for-like…
- BAJAJHFL (Q1FY27): “Disbursements grew 33% and AUM was up 24% during the quarter, with PAT growth of 23% on…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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