NSE BAJAJHFLCRISIL AAA, stableIndia Ratings AAA, stableCredit ratingA grade for how safely a company can repay what it borrows. AAA is the highest grade. A stable outlook means the agency does not expect to change it soon.It sets how cheaply the company can borrow, and so how cheaply it can lend.Housing finance companyMid-capMid-capAMFI ranks listed companies by market value twice a year: the 100 largest are large-cap, the next 150 mid-cap. Bajaj Housing Finance was large-cap from February 2025 and moved to mid-cap in the December 2025 review.Mutual funds sort the shares they may buy by this list, so the class shapes which funds can hold it.
A large housing lender from Pune that is growing faster than most rivals. It charges borrowers some of the lowest rates, which leaves it a thinner margin, and it has the fewest bad loans of the 17 HFCs that report them.
AUMAUMAll the loans it manages, as each lender reports it. That can include loans it has sold to other lenders but still collects.The usual way to measure how big a lender is. The typical HFC is the middle of the 19 that report this: half are above it, half below.Loan book₹1,14,684 CrLent ₹50,843 Cr of new loans in the year
AUM growth YoYAUM growth YoYHow much the loan book grew over the year.Fast growth wins customers, but the loans still have to be repaid. The typical HFC is the middle of the 18 that report this: half are above it, half below.Higher is betterLoan book growth26.0%The typical HFC grew 20.0%
7th fastest of 18Where it stands
Where it standsEach mark is one of the 19 HFCs that report AUM for the year, smallest on the left. Filled marks are the lenders it is bigger than; its own mark is dark. Point at a mark to see which HFC it is.Yield on loansYield on loansThe average interest rate it earned on its loans over the year.A low rate is good for borrowers but leaves the lender a thinner margin. The typical HFC is the middle of the 18 that report this: half are above it, half below.Rate it charges3rd lowest of 18
9.84%Borrows at 7.91%, keeps a gap of 1.93%GNPAGNPALoans more than 90 days overdue, or unlikely to be repaid in full, as a share of all loans.The clearest sign of how good its lending is. The typical HFC is the middle of the 17 that report this: half are above it, half below.Lower is betterBad loans, Gross Stage 3Lowest of 17
0.29%The typical HFC: 1.81%#2of 19 HFCs by loan book
Only one HFC is larger
Amounts in
Asset quality at a glance
FY 2024-25, ranked against the HFCs that report each metricNNPANNPABad loans minus the money already set aside to cover them, as a share of loans.What could still hit profits if those loans are never repaid. The typical HFC is the middle of the 17 that report this: half are above it, half below.Lower is better0.11%of loansLowest of 17WeakerTypical HFC 1.08%Stronger
Loans to watchLoans to watchLoans 31 to 90 days overdue, or whose risk has risen sharply, as a share of loans.The watch list can turn into bad loans later. The typical HFC is the middle of the 17 that report this: half are above it, half below.Lower is better0.32%of loansLowest of 17WeakerTypical HFC 3.42%Stronger
Loan lossesLoan lossesMoney set aside for bad loans during the year, as a share of the loan book.It comes straight out of profit. The typical HFC is the middle of the 18 that report this: half are above it, half below.Lower is better0.07%of the loan book4th lowest of 18WeakerTypical HFC 0.22%Stronger
Cover for bad loansCover for bad loansMoney already set aside against bad loans, as a share of those loans.More cover means fewer surprises if they are never repaid. The typical HFC is the middle of the 17 that report this: half are above it, half below.Higher is better60.28%of bad loans2nd highest of 17WeakerTypical HFC 40.10%Stronger
Loans by stage
31 Mar 2025, ₹ croreEvery loan sits in one of three stages, from repaid on time (Stage 1) to in default (Stage 3). Provisions are money set aside to cover likely losses.
StageLoansShareProvisionsCoverageNet
Stage 1Performing99,48399.39%3340.34%99,149
Stage 2Under watch, usually 31 to 90 days overdue3210.32%7122.12%249
Stage 3Credit-impaired, usually over 90 days overdue2870.29%17360.28%114
TotalAll loans1,00,091100%5780.58%99,513
Stage 2 and 3 together are 0.61% of loans, and 30% of all provisions are held against Stage 3.
Quarter by quarter
GNPA (Gross Stage 3), share of all loans, per cent. Up 0.01 percentage points from Q1 to Q4.
0%
0.1%
0.2%
0.3%
0.4%
Bajaj 0.29%
Jun 2024Q1 FY25Sep 2024Q2 FY25Dec 2024Q3 FY25Mar 2025Q4 FY25
Bajaj
Every quarter in FinancialsGNPA (Gross Stage 3), every HFC
Best first, 17 HFCs reporting1Bajaj Housing Finance0.29%
2Locked lender, pending review0.66%
3Locked lender, pending review0.87%
4Locked lender, pending review0.99%
5Locked lender1.08%
5Locked lender1.08%
7Locked lender, pending review1.46%
8Locked lender, pending review1.68%
9Locked lender, pending review1.81%
10Locked lender1.84%
10Locked lender1.84%
12Locked lender, pending review2.18%
13Locked lender, pending review2.47%
14Locked lender, pending review2.96%
15Locked lender, pending review3.17%
16Locked lender, pending review3.99%
17Locked lender, pending review9.67%
Typical HFC 1.81%Pending review
Losses and watch list
FY 2024-25, against the HFCs that report each one
Loans written off, share of the loan book₹22.21 Cr written off in the year, ₹21.63 Cr recovered. Typical HFC 0.20%0.02%3rd lowest of 17
Restructured loans, share of the loan book₹223.5 Cr of loans restructured. Typical HFC 0.60%0.19%5th lowest of 16
Early warning loans (SMA), share of the loan bookLoans up to 90 days overdue that lenders must flag early. Typical HFC 3.50%0.28%Lowest of 12
Collateral and borrower quality
31 Mar 2025Loan-to-value, home loans69%average loan as a share of the home value when lent; lower leaves more cushion if prices fall
Loan-to-value, loans against property51%average, when lent
Home-loan borrowers with a credit score over 75076.7%CIBIL score when lent; 750 and above is usually seen as good
Secured on property98.5%of the loan book; only the other 1.5% is unsecured
Q4 FY25 investor presentation.