Bajaj Housing Finance’s Q2 gross disbursements surged 25.2% to ₹19,930 crore, while AUM rose 25% to ₹1.58 lakh crore. The stock fell 0.2% to ₹83.6 ahead of earnings, 13% lower year‑to‑date.
The company’s loan assets hit ₹1.4 lakh crore, up from ₹1.13 lakh crore a year earlier. Gross NPA held steady at 0.29%, a modest rise from 0.27% in March, while net NPA edged up to 0.12% from 0.11% sequentially.
Margin pressure is evident; operating margin fell 20 basis points YoY in the June quarter. Analysts remain split: 7 of 17 rate the stock buy, 6 hold, 4 sell, with consensus price targets implying only a 12% upside.
BHF shares hover near their IPO price of ₹70 after a post‑listing peak of ₹188.5. The last ten sessions show seven down days, reflecting the broader market volatility that has kept the stock flat.
Full September quarter results will be released later today. Investors will focus on guidance for future disbursement growth, asset‑quality outlook, and any signs of margin recovery.