# Aadhar Housing Finance (AADHARHFC) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/aadharhfc

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹430.7
- Change: -1.72%
- As of: 2026-11-06
- 1D return: -1.72%
- 5D return: +2.52%
- 1M return: -4.41%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

AADHARHFC closed at ₹438.25 on 2026-11-05, maintaining a bearish structure across daily, weekly, and monthly timeframes with price trading below all key moving averages and the Supertrend indicator. Despite this broader downtrend, recent activity shows signs of short-term volatility and potential stabilization: an extreme upward gap occurred on 2026-11-05 (+1.6%), following a high-volume surge on 2026-11-04 (+2.4%). The stock is positioned near the lower end of its 252-day range (+15.1%) but in the middle of its 20-day range (+47.4%). Immediate resistance lies at ₹442.33 (0.93% above), while support is found at ₹436.77 (0.34% below). With an annualized volatility of +29.2% and a current drawdown of -21.2%, the setup remains fragile; confirmation of a trend reversal would require sustained movement above the immediate resistance levels.

- Trend Structure: Bearish across daily, weekly, and monthly horizons; price is below all supplied moving averages and the Supertrend.
- Recent Activity: Extreme upward gap on 2026-11-05 (+1.6%) and high-volume move on 2026-11-04 (+2.4%) suggest short-term volatility within the broader downtrend.
- Key Levels: Resistance at ₹442.33 (0.93% above) and ₹450.41 (2.77% above); Support at ₹436.77 (0.34% below) and ₹432.68 (1.27% below).
- Risk Profile: Current drawdown is -21.2% against a maximum drawdown of -24.5%; annualized volatility stands at +29.2%.

- Inside Bar
- Evening Star
- Bullish Engulfing Reversal
- Outside Bar

### News Context

Aadhar Housing Finance reported Q2 FY27 results showing a 16% year-on-year increase in profit after tax to ₹308 crore, driven by an 18% expansion in assets under management (AUM) to ₹32,643 crore and a 22% rise in disbursements to ₹2,577 crore. The lender also received an AA+ rating upgrade from India Ratings and ICRA, aligning with other major agencies to broaden funding access, while gross NPAs declined marginally to 1.34%. Despite these operational improvements, shares declined by 2-11% following the earnings release, reflecting market reaction to the reported financial performance.

- Q2 FY27 Profit After Tax rose 16% YoY to ₹308 crore, supported by 22% growth in disbursements (₹2,577 crore) and 18% AUM expansion to ₹32,643 crore.
- Credit ratings upgraded to AA+ by India Ratings and ICRA, aiming to broaden funding access; gross NPAs improved to 1.34%.
- Stock prices fell 2-11% post-earnings, indicating negative market sentiment despite the reported financial growth.

- [Price Action: Bikaji Foods, Astral, Aadhar Housing Finance down 2-11% post Q2 earnings](https://www.moneycontrol.com/news/business/stocks/price-action-bikaji-foods-astral-aadhar-housing-finance-down-2-11-post-q2-earnings-14070686.html)
- [Aadhar Housing Finance posts 22% jump in Q2 disbursements, earns AA+ rating upgrade](https://www.thehindubusinessline.com/companies/aadhar-housing-finance-posts-22-jump-in-q2-disbursements-earns-aa-rating-upgrade/article71670363.ece)
- [Aadhar Housing Finance Q2 FY27 Profit Rises 16% To ₹308 Crore As Affordable Housing Loans Gain Momentum, ₹32,643 Crore AUM And 22% Jump In Disbursements Fuel Expansion Story](https://www.freepressjournal.in/business/aadhar-housing-finance-q2-fy27-profit-rises-16-to-308-crore-as-affordable-housing-loans-gain-momentum-32643-crore-aum-and-22-jump-in-disbursements-fuel-expansion-story)
- [Stock Market LIVE: GIFT Nifty jumps 300 pts as Brent crude slips below $100; Kospi tumbles 4%](https://www.business-standard.com/markets/news/stock-market-live-november-5-nse-bse-sensex-today-nifty50-gift-nifty-crude-oil-prices-ipo-today-126110500085_1.html)

### What Changed

On November 5, 2026, Aadhar Housing Finance reported unaudited financial results for Q2 and H1 FY27, marking a material update to its operational profile. The company posted a 16% year-on-year increase in profit after tax to ₹308 crore for the quarter, driven by an 18% expansion in assets under management (AUM) to ₹32,643 crore and a 22% rise in disbursements to ₹2,577 crore. Asset quality improved, with gross NPAs declining to 1.34%. Concurrently, India Ratings and ICRA upgraded the lender’s long-term ratings to AA+ (Stable), signaling enhanced credit standing.

Corporate governance saw minor adjustments, including the redesignation of Mr. Sandeep Jain from Chief Business Leader to Chief Business Officer and the grant of 981,800 ESOPs at ₹425 per option. Despite these positive fundamental developments, the market reacted negatively on the same day, with shares closing at ₹438.25, down approximately 1.6% from the previous close of ₹431.20, reflecting broader post-earnings price volatility observed across peers.

- Q2 FY27 PAT rose 16% YoY to ₹308 crore; H1 FY27 PAT grew 17% to ₹591 crore, supported by 22% YoY growth in disbursements (₹2,577 crore) and 18% YoY AUM expansion (₹32,643 crore).
- Credit rating upgraded to AA+ (Stable) by India Ratings and ICRA; gross NPA ratio improved to 1.34%, indicating strengthening asset quality.
- ESOP Plan 2025 approved: 981,800 options granted at ₹425/share, carrying a pre-tax P&L charge of ₹28.2 crore in H1 FY27.
- Stock declined ~1.6% to ₹438.25 on November 5, 2026, following earnings release, aligning with sector-wide post-results selling pressure.

- [Price Action: Bikaji Foods, Astral, Aadhar Housing Finance down 2-11% post Q2 earnings](https://www.moneycontrol.com/news/business/stocks/price-action-bikaji-foods-astral-aadhar-housing-finance-down-2-11-post-q2-earnings-14070686.html)
- [Aadhar Housing Finance posts 22% jump in Q2 disbursements, earns AA+ rating upgrade](https://www.thehindubusinessline.com/companies/aadhar-housing-finance-posts-22-jump-in-q2-disbursements-earns-aa-rating-upgrade/article71670363.ece)
- [Aadhar Housing Finance Q2 FY27 Profit Rises 16% To ₹308 Crore As Affordable Housing Loans Gain Momentum, ₹32,643 Crore AUM And 22% Jump In Disbursements Fuel Expansion Story](https://www.freepressjournal.in/business/aadhar-housing-finance-q2-fy27-profit-rises-16-to-308-crore-as-affordable-housing-loans-gain-momentum-32643-crore-aum-and-22-jump-in-disbursements-fuel-expansion-story)
- [Aadhar Housing Finance Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release for Q2 & H1 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026163226_Combined_press_release-finalsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Investor Presentation |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026164916_Investor_presentation-combinedsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about grant of options. |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026173021_Intimation_of_ESOP_grant_latestsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261105_175321482.xml)
- [Aadhar Housing Finance Limited has informed the Exchange about change in designation of SMP |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026175126_Change_in_SMPsd.pdf)

### Official Filings

Aadhar Housing Finance Limited (AADHARHFC) reported unaudited financial results for Q2 and H1 FY27 ended September 30, 2026, alongside an ESOP grant and a senior management redesignation. The company demonstrated continued asset growth, with Assets Under Management (AUM) rising 18% year-on-year to ₹32,643 crore and disbursements up 22% to ₹2,577 crore in Q2. Profitability remained robust, with H1 FY27 Profit After Tax (PAT) increasing 17% to ₹591 crore on a standalone basis, while consolidated PAT grew to ₹5,906.7 million from ₹5,037.5 million a year earlier. Credit quality appears stable, with Gross Non-Performing Assets (GNPA) at 1.34% of AUM.

In terms of corporate actions, the Board approved an Employee Stock Option Plan (ESOP) grant of 981,800 options at ₹425 per option, carrying a pre-tax P&L charge of ₹28.2 crore in H1 FY27. Additionally, Mr. Sandeep Jain was redesignated from Chief Business Leader to Chief Business Officer, effective November 5, 2026. Rating agencies India Ratings and ICRA upgraded the company’s long-term ratings to AA+ (Stable). These disclosures provide a snapshot of operational scaling and governance updates but do not indicate immediate changes to capital structure or dividend policy.

- H1 FY27 Consolidated PAT rose to ₹5,906.7 million (up from ₹5,037.5 million YoY), with standalone PAT at ₹591 crore (+17%).
- AUM expanded 18% YoY to ₹32,643 crore; Q2 FY27 disbursements increased 22% YoY to ₹2,577 crore.
- Board granted 981,800 ESOPs at ₹425/share, resulting in a ₹28.2 crore pre-tax charge in H1 FY27.
- India Ratings and ICRA upgraded long-term ratings to AA+ (Stable); GNPA on AUM stood at 1.34%.

- [Aadhar Housing Finance Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release for Q2 & H1 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026163226_Combined_press_release-finalsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Investor Presentation |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026164916_Investor_presentation-combinedsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about grant of options. |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026173021_Intimation_of_ESOP_grant_latestsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261105_175321482.xml)
- [Aadhar Housing Finance Limited has informed the Exchange about change in designation of SMP |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026175126_Change_in_SMPsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026221854_SEIntimation.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1754342_05112026102333_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1754346_05112026102518_WEB.xml)
- [Aadhar Housing Finance Limited has informed the Exchange about Change in Corporate Office address of Registrar and Share Transfer Agent |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_03112026163432_SEIntimation.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_02112026144519_SEIntimationConferenceNDR.pdf)

### Fundamentals

Aadhar Housing Finance demonstrates robust top-line and bottom-line expansion, with revenue rising to ₹3,817 crore (TTM) and net profit reaching ₹1,141 crore. The company’s financing margin has remained stable at 39% across recent periods, indicating consistent pricing power despite a rise in finance costs to ₹1,409 crore (TTM). Balance-sheet growth is evident, with loans expanding to ₹26,543 crore as of September 2026 and borrowings increasing to ₹17,216 crore. However, the balance sheet remains heavily reliant on debt, with financial liabilities totaling ₹21,082 crore against equity of ₹8,201 crore. Cash generation remains negative, with free cash flow at -₹2,827 crore for the year ended March 2026, reflecting the capital-intensive nature of lending operations. Shareholding patterns show a significant dilution of promoter stake from 75.89% in September 2024 to 64.51% in September 2026, while DII holdings have increased to 11.51%. Return on Equity has gradually declined from 18% in FY2024 to 16% in FY2026.

- Revenue grew 18% YoY in Mar 2026, with TTM net profit at ₹1,141 crore and EPS at ₹26.23.
- Financing margin held steady at 39%, but finance costs rose to ₹1,409 crore (TTM) alongside higher borrowings.
- Promoter holding fell to 64.51% by Sep 2026; DIIs increased their stake to 11.51%.

### Bear Case

Aadhar Housing Finance faces significant near-term headwinds as its stock price has declined 2-11% following the release of Q2 FY27 earnings, despite reporting a 16% year-on-year profit increase to ₹308 crore. Technical indicators signal a deteriorating trend, with the Supertrend showing bearish signals across daily, weekly, and monthly timeframes. The stock is currently trading at ₹438.25, reflecting a substantial year-to-date loss of 9.0% and a one-year return of -13.9%. Volatility remains elevated, with an annualized volatility of 29.2% and a current drawdown of -21.2%, indicating persistent selling pressure and limited immediate upside momentum.

- Post-earnings price decline of 2-11% observed despite 16% YoY profit growth to ₹308 crore in Q2 FY27.
- Bearish technical trends confirmed across daily, weekly, and monthly charts via Supertrend signals.
- Significant underperformance with YTD returns of -9.0% and 1-year returns of -13.9%.
- Elevated risk profile characterized by 29.2% annualized volatility and a current drawdown of -21.2%.

- [Price Action: Bikaji Foods, Astral, Aadhar Housing Finance down 2-11% post Q2 earnings](https://www.moneycontrol.com/news/business/stocks/price-action-bikaji-foods-astral-aadhar-housing-finance-down-2-11-post-q2-earnings-14070686.html)
- [Aadhar Housing Finance posts 22% jump in Q2 disbursements, earns AA+ rating upgrade](https://www.thehindubusinessline.com/companies/aadhar-housing-finance-posts-22-jump-in-q2-disbursements-earns-aa-rating-upgrade/article71670363.ece)
- [Aadhar Housing Finance Q2 FY27 Profit Rises 16% To ₹308 Crore As Affordable Housing Loans Gain Momentum, ₹32,643 Crore AUM And 22% Jump In Disbursements Fuel Expansion Story](https://www.freepressjournal.in/business/aadhar-housing-finance-q2-fy27-profit-rises-16-to-308-crore-as-affordable-housing-loans-gain-momentum-32643-crore-aum-and-22-jump-in-disbursements-fuel-expansion-story)
- [Stock Market LIVE: GIFT Nifty jumps 300 pts as Brent crude slips below $100; Kospi tumbles 4%](https://www.business-standard.com/markets/news/stock-market-live-november-5-nse-bse-sensex-today-nifty50-gift-nifty-crude-oil-prices-ipo-today-126110500085_1.html)
- [Aadhar Housing Finance Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release for Q2 & H1 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026163226_Combined_press_release-finalsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Investor Presentation |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026164916_Investor_presentation-combinedsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about grant of options. |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026173021_Intimation_of_ESOP_grant_latestsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261105_175321482.xml)
- [Aadhar Housing Finance Limited has informed the Exchange about change in designation of SMP |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026175126_Change_in_SMPsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026221854_SEIntimation.pdf)

### FAQs

**How did Aadhar Housing Finance perform in Q2 FY27, and what rating changes occurred?**

For the quarter ended September 30, 2026, Aadhar Housing Finance reported a 16% year-on-year increase in profit after tax to ₹308 crore. Disbursements rose 22% to ₹2,577 crore, while assets under management grew 18% to ₹32,643 crore. Gross NPAs declined marginally to 1.34%. Additionally, India Ratings and ICRA upgraded the company’s long-term ratings to AA+ (Stable).

**What corporate governance or structural changes were announced alongside the results?**

On November 5, 2026, the Board approved an ESOP grant of 981,800 options at ₹425 per option under Plan 2025, with a pre-tax P&L charge of ₹14.2 crore for Q2. Mr. Sandeep Jain was redesignated from Chief Business Leader to Chief Business Officer. The company also expanded its branch network to 632 branches across 23 states.

**How has the stock price reacted recently, and what are the key technical levels?**

Shares declined 2-11% post-earnings, closing at ₹438.25 on November 5, 2026. Technical indicators show a bearish trend on daily, weekly, and monthly timeframes. Immediate support lies near ₹436.77, with resistance at ₹442.33. Over the past year, the stock has returned -13.9%, with a current drawdown of -21.2%.

- [Price Action: Bikaji Foods, Astral, Aadhar Housing Finance down 2-11% post Q2 earnings](https://www.moneycontrol.com/news/business/stocks/price-action-bikaji-foods-astral-aadhar-housing-finance-down-2-11-post-q2-earnings-14070686.html)
- [Aadhar Housing Finance posts 22% jump in Q2 disbursements, earns AA+ rating upgrade](https://www.thehindubusinessline.com/companies/aadhar-housing-finance-posts-22-jump-in-q2-disbursements-earns-aa-rating-upgrade/article71670363.ece)
- [Aadhar Housing Finance Q2 FY27 Profit Rises 16% To ₹308 Crore As Affordable Housing Loans Gain Momentum, ₹32,643 Crore AUM And 22% Jump In Disbursements Fuel Expansion Story](https://www.freepressjournal.in/business/aadhar-housing-finance-q2-fy27-profit-rises-16-to-308-crore-as-affordable-housing-loans-gain-momentum-32643-crore-aum-and-22-jump-in-disbursements-fuel-expansion-story)
- [Stock Market LIVE: GIFT Nifty jumps 300 pts as Brent crude slips below $100; Kospi tumbles 4%](https://www.business-standard.com/markets/news/stock-market-live-november-5-nse-bse-sensex-today-nifty50-gift-nifty-crude-oil-prices-ipo-today-126110500085_1.html)
- [Aadhar Housing Finance Limited has informed the Exchange regarding a press release dated November 05, 2026, titled "Press Release for Q2 & H1 FY27 Financial Results". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026163226_Combined_press_release-finalsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Investor Presentation |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026164916_Investor_presentation-combinedsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about grant of options. |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026173021_Intimation_of_ESOP_grant_latestsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261105_175321482.xml)
- [Aadhar Housing Finance Limited has informed the Exchange about change in designation of SMP |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026175126_Change_in_SMPsd.pdf)
- [Aadhar Housing Finance Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026221854_SEIntimation.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹440.43
- Risk regime: Price Risk Requires Attention

### Support levels
- 426.45
- 405
- 367.425

### Resistance levels
- 450.405419921875
- 465.4408203125
- 476

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -1.72% |
| return_10 | -2.14% |
| return_1m | -5.09% |
| return_1y | -13.77% |
| return_20 | -4.41% |
| return_3m | -16.35% |
| return_5 | +2.52% |
| return_6m | -13.88% |
| return_since_start | +2.60% |
| return_ytd | -10.53% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -24.51% |
| annualized_volatility | +29.23% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Aadhar Housing Finance Limited Q2 FY2026-27: PAT rises 16% year on year

Aadhar Housing Finance reported Q2 FY2026-27 revenue from operations of ₹1,047.8 crore, up 5.5% quarter on quarter and 16.8% year on year. Profit after tax rose 9.2% sequentially to ₹308.3 crore and 15.7% from Q2 FY2025-26; loans outstanding reached ₹26,543 crore at 30 September 2026. Negative operating cash flow of ₹1,557 crore was a counterpoint to earnings and balance-sheet growth.

## Revenue growth included a derecognition gain

Interest earned, the largest revenue component, increased 4.4% from Q1 FY2026-27 to ₹925.2 crore. Q2 revenue from operations also included ₹65.4 crore of net gains on derecognition of financial instruments under the amortised cost category, ₹52.0 crore of fees and commission income, and ₹5.2 crore of net gains on fair value changes. Other income was ₹6 lakh, compared with ₹4.3 crore in Q1.

## Profit rose as impairment fell sequentially

Total expenses increased 2.7% quarter on quarter to ₹650.8 crore. Finance costs rose 3.4% to ₹389.1 crore and other expenses increased 12.3% to ₹59.7 crore, while impairment on financial instruments fell 23.5% to ₹24.2 crore from ₹31.7 crore in Q1. Employee benefit expense was ₹168.1 crore.

Profit before tax increased 9.2% sequentially to ₹397.1 crore, and profit after tax rose from ₹282.4 crore to ₹308.3 crore. Compared with Q2 FY2025-26, revenue from operations grew 16.8%, while expenses increased 16.9%; profit before tax rose 15.8% and profit after tax 15.7%.

## EPS increased from Q1

Basic earnings per share were ₹7.04 in Q2, up from ₹6.47 in Q1 FY2026-27. Diluted EPS was ₹6.93, compared with ₹6.36. Trailing 12-month basic EPS stood at ₹27.16. Equity share capital was ₹438.4 crore at 30 September 2026, and the face value was ₹10 per share.

## Loan book and borrowings expanded

Loans outstanding were ₹26,543 crore at 30 September 2026, up from ₹24,840 crore at 31 March 2026 and ₹22,261 crore at 30 September 2025. Total assets stood at ₹29,375 crore.

Borrowings rose to ₹17,216 crore from ₹15,064 crore at 31 March 2026, while debt securities declined to ₹3,174 crore from ₹3,619 crore. Equity increased to ₹8,201 crore from ₹7,541 crore over the same period.

## Negative operating cash flow, positive financing cash flow

Cash flow from operating activities was negative ₹1,557 crore for the quarter, and free cash flow was negative ₹1,540 crore. Financing cash flow was positive ₹1,696 crore. Cash and cash equivalents stood at ₹870 crore at 30 September 2026, compared with ₹715 crore at 31 March 2026. Other bank balances were ₹539 crore, up from ₹500 crore at 31 March 2026 but below ₹998 crore at 30 September 2025.

## Management commentary

Management reported Q2 disbursements of ₹2,577 crore, up 22% year on year, and assets under management of ₹32,643 crore, up 18%. Disbursements are reported on a cheque-realisation basis from Q1 FY2026-27. Management said India Ratings and ICRA upgraded the company’s long-term ratings to AA+ (Stable), with all three agencies now rating it AA+ (Stable) on a standalone basis. The quarter included a pre-tax employee stock option charge of ₹14.2 crore under the 2025 plan. Management also flagged the evolving interest-rate environment and heightened competition as areas requiring continued vigilance.

## Key Takeaway

Q2 delivered sequential and year-on-year growth in revenue and profit, alongside expansion in loans outstanding. Negative operating cash flow, despite positive financing cash flow and higher cash equivalents at quarter-end, remains an important counterpoint to the earnings and balance-sheet growth.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +64.51%
- FII holding: +4.11%
- DII holding: +11.51%
- Mutual fund holding: +8.21%
- Retail holding: +3.27%
- Promoter pledged: +0.00%

### Major reported shareholders

- BCP ASIA II HOLDCO VII PTE. LTD. — +64.51% (Bodies Corporate)
- AXDI LDII SPV 1 LTD — +10.07%
- HDFC SMALL CAP FUND — +2.74%
- WHITEOAK CAPITAL FLEXI CAP FUND — +1.47%
- ICICI BANK LTD — +1.06%
- DSP SMALL CAP FUND — +1.02%

## Official filings

- 2026-11-07 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_07112026172357_SEIntimation_Newspaper_adv.pdf)
- 2026-11-05 — Press Release: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026163226_Combined_press_release-finalsd.pdf)
- 2026-11-05 — Earnings Presentation: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026164916_Investor_presentation-combinedsd.pdf)
- 2026-11-05 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026173021_Intimation_of_ESOP_grant_latestsd.pdf)
- 2026-11-05 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261105_175321482.xml)
- 2026-11-05 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026175126_Change_in_SMPsd.pdf)
- 2026-11-05 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_05112026221854_SEIntimation.pdf)
- 2026-11-05 — Financial Results Filing: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1754342_05112026102333_WEB.xml)
- 2026-11-05 — Financial Results Filing: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_NBFC_INDAS_1754346_05112026102518_WEB.xml)
- 2026-11-03 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_03112026163432_SEIntimation.pdf)
- 2026-11-02 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_02112026144519_SEIntimationConferenceNDR.pdf)
- 2026-11-02 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19106_WebXMLFile_20261102_144941519.xml)
- 2026-10-28 — Board Meeting Notice: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_28102026174941_cover_lettersd.pdf)
- 2026-10-28 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19106_WebXMLFile_20261028_175506524.xml)
- 2026-10-28 — Board Meeting Notice: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19106_WebXMLFile_20261028_175506524.xml)
- 2026-10-28 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19106_WebXMLFile_20261028_180054943.xml)
- 2026-10-21 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261021_230623549.xml)
- 2026-10-21 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_21102026230429_Intimation_DST.pdf)
- 2026-10-16 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_19106_WebXMLFile_20261016_174908740.xml)
- 2026-10-16 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_16102026174951_Intimationsd.pdf)
- 2026-10-14 — Shareholding Disclosure: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1737917_14102026052530_WEB.xml)
- 2026-10-07 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_07102026152351_finalsd.pdf)
- 2026-09-24 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_19106_WebXMLFile_20260924_165452567.xml)
- 2026-09-24 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_19106_WebXMLFile_20260924_170126778.xml)
- 2026-09-24 — Generic Announcement: Aadhar Housing Finance Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHFL2021_24092026172150_Sept_2026_Closure_of_trading_windowsd.pdf)

## News and market events

- 2026-11-07 — MONEYCONTROL: **Buy Aadhar Housing Finance; target of Rs 625: ICICI Securities** — ICICI Securities has issued a 'Buy' recommendation for Aadhar Housing Finance with a price target of Rs 625. This analyst note suggests potential upside for the housing finance company's stock based on the broker's assessment. — [Source](https://www.moneycontrol.com/news/business/earnings/buy-aadhar-housing-finance-target-of-rs-625-icici-securities-14074291.html)
- 2026-11-06 — MONEYCONTROL: **Price Action: Bikaji Foods, Astral, Aadhar Housing Finance down 2-11% post Q2 earnings** — Shares of Bikaji Foods, Astral, and Aadhar Housing Finance declined by 2-11% following the release of their second-quarter earnings results. The price action reflects market reaction to the reported financial performance for the quarter ended in the relevant period. — [Source](https://www.moneycontrol.com/news/business/stocks/price-action-bikaji-foods-astral-aadhar-housing-finance-down-2-11-post-q2-earnings-14070686.html)
- 2026-11-05 — The Hindu: **Aadhar Housing Finance posts 22% jump in Q2 disbursements, earns AA+ rating upgrade** — Aadhar Housing Finance reported a 22% year-on-year increase in Q2 disbursements to ₹2,577 crore and an 18% rise in assets under management, alongside a profit after tax growth of 16%. The lender received an AA+ rating upgrade from India Ratings and ICRA, aligning with other major agencies to broaden funding access, while gross NPAs declined marginally to 1.34%. Management cited structural demand for affordable housing as intact despite vigilance required on interest rates and competition. — [Source](https://www.thehindubusinessline.com/companies/aadhar-housing-finance-posts-22-jump-in-q2-disbursements-earns-aa-rating-upgrade/article71670363.ece)
- 2026-11-05 — FREEPRESSJOURNAL.IN: **Aadhar Housing Finance Q2 FY27 Profit Rises 16% To ₹308 Crore As Affordable Housing Loans Gain Momentum, ₹32,643 Crore AUM And 22% Jump In Disbursements Fuel Expansion Story** — Aadhar Housing Finance reported a 16% year-on-year increase in Q2 FY27 profit after tax to ₹308 crore, driven by an 18% expansion in assets under management to ₹32,643 crore and a 22% rise in loan disbursements. The company also noted an improvement in asset quality, with gross non-performing assets falling to 1.34%, while extending its branch network to Jammu to reach 632 branches across 23 states. — [Source](https://www.freepressjournal.in/business/aadhar-housing-finance-q2-fy27-profit-rises-16-to-308-crore-as-affordable-housing-loans-gain-momentum-32643-crore-aum-and-22-jump-in-disbursements-fuel-expansion-story)
- 2026-11-05 — BUSINESS: **Stock Market LIVE: GIFT Nifty jumps 300 pts as Brent crude slips below $100; Kospi tumbles 4%** — GIFT Nifty indicated a gap-up open for the Nifty50 index, surging 342 points to 24,311, as Brent crude prices slipped below $100 amid expectations of a faster resolution to the West-Asia conflict following the US midterm election results. Asian markets were mixed with traders rotating out of semiconductor shares into consumer and financial sectors, while Japan’s Nikkei 225 and KOSPI fell 0.39 per cent and 3.6 per cent respectively. Additionally, Bombay Coated & Special Steels is set to debut on exchanges on Thursday, and several companies including Aadhar Housing Finance and Bharti Airtel are — [Source](https://www.business-standard.com/markets/news/stock-market-live-november-5-nse-bse-sensex-today-nifty50-gift-nifty-crude-oil-prices-ipo-today-126110500085_1.html)
- 2026-10-22 — BUSINESSTODAY: **Despite broader uncertainty, why Aadhar Housing Finance looks to maintain growth pace** — Aadhar Housing Finance is confident of another strong year for the company as well as the broader mortgage market even as there remains geopolitical uncertainty, interest rates are rising and a weak monsoon has cast a shadow on the rural economy.“Low income, affordable and premium housing - all three segments are doing sensibly well, the overall CAGR growth recorded over the last three years has been in the range of 15-16%, out of which low-income housing is growing at about 18-19%. — [Source](https://www.businesstoday.in/latest/corporate/story/despite-broader-uncertainty-why-aadhar-housing-finance-looks-to-maintain-growth-pace-563091-2026-10-22)
- 2026-09-21 — Economic Times: **Which NBFCs will gain the most from rate hike cycle? JM Financial lists top picks** — JM Financial highlights how soaring bond yields and policy rate hikes impact Indian NBFCs. While housing finance companies like LIC Housing Finance and PNB Housing Finance stand to benefit on NIMs, vehicle and MFI lenders face headwinds. Top stock picks include Aditya Birla Capital, Piramal Finance, and CreditAccess Grameen. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/which-nbfcs-will-gain-the-most-from-rate-hike-cycle-jm-financial-lists-top-picks/articleshow/134386955.cms)
- 2026-09-14 — Economic Times: **Samir Arora-backed Helios Mid Cap Fund exits Dixon Technologies, 2 others; adds 7 stocks** — Helios Mid Cap Fund, backed by Samir Arora, exited Dixon Technologies, Aadhar Housing Finance and Black Box in August. The fund added eight stocks, including Coforge and Lalithaa Jewellery, while increasing exposure to 15 stocks and holding 72 stocks across 23 sectors. — [Source](https://economictimes.indiatimes.com/mf/analysis/samir-arora-backed-helios-mid-cap-fund-exits-dixon-technologies-2-others-adds-7-stocks/articleshow/134231976.cms)
- 2026-08-27 — Economic Times: **PNB Housing outshines peers on strong loan growth** — PNB Housing Finance shares have seen significant gains this year.  The company is focusing on affordable and emerging housing segments.  This strategic shift aims to improve its valuation and return ratios.  Disbursements and net profit are expected to grow robustly in coming years.  Stable asset quality and new financing initiatives support future growth. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/pnb-housing-outshines-peers-on-strong-loan-growth/articleshow/133553609.cms)
- 2026-08-03 — MONEYCONTROL: **Aadhar Housing Finance retains 'Buy'; Nomura sees 20% growth guidance intact, maintains Rs 615 target price** — Aadhar Housing Finance, Aadhar Housing Finance stocks, Aadhar Housing Finance shares, Nomura, Aadhar Housing Finance Q1 results — [Source](https://www.moneycontrol.com/news/business/stocks/aadhar-housing-finance-retains-buy-nomura-sees-20-growth-guidance-intact-maintains-rs-615-target-price-13991955.html)
- 2026-07-31 — CNBC-TV18: **Q1 Results LIVE Updates: Dixon tech revenue up 21%, tops Street; Maruti Suzuki profit beats estimates** — Q1 Results LIVE Updates: Four Nifty companies, ITC, Maruti Suzuki, Sun Pharma and Bajaj Finserv report results today to round off this week dominated by earnings. Broader market names like Dixon Tech, Indian Oil, Glenmark Pharma, GMDC, ABB India, SJVN, GAIL and NALCO among many others will also be reporting their results. The big result reactions of the day include the likes of Swiggy, Mazagon Dock, Thermax, Bajaj Finance's earnings call and upgrades among others. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-sun-pharma-itc-maruti-suzuki-bajaj-finserv-tata-steel-swiggy-share-price-liveblog-19958383.htm)
- 2026-07-31 — CNBC-TV18: **Aadhar Housing Finance Q1 profit up 19% with AUM growth and stable asset quality** — Shares of Aadhar Housing Finance Ltd ended at ₹497.25, up by ₹3.25, or 0.66%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/aadhar-housing-finance-share-price-q1-profit-up-19-with-aum-growth-and-stable-asset-quality-19959034.htm)
- 2026-07-27 — FREEPRESSJOURNAL.IN: **Mumbai Police Book Builder, Directors, Banks And Buyers In Alleged ₹42.96-Crore Chinchpokli Redevelopment Fraud** — Mumbai Police have registered an FIR alleging a Rs 42.96-crore redevelopment fraud involving Siddhivinayak Construction, its directors, banks and flat buyers in Chinchpokli. The case, now being investigated by the EOW, concerns the alleged illegal sale and mortgaging of rehabilitation flats meant for tenants. — [Source](https://www.freepressjournal.in/mumbai/mumbai-police-book-builder-directors-banks-and-buyers-in-alleged-4296-crore-chinchpokli-redevelopment-fraud)
- 2026-07-24 — Mint: **The Street resets its Nifty 500 bets. Here are the winners** — The optimism reflects the underperformance of Indian equities relative to other emerging markets and the US, along with a moderation in valuations. — [Source](https://www.livemint.com/market/stock-market-news/the-street-resets-its-nifty-500-bets-here-are-the-winners-indian-stock-market-11784798077110.html)
- 2026-07-20 — The Hindu: **Sensex today | Stock Market Live: Sensex down 700 pts, Nifty near 24,150 in choppy trade; Axis, HDFC Bank lead losers** — Sensex, Nifty, Share Prices Live Updates: At around 12.05 pm, Sensex traded 621.88 pts or 0.80% lower at 77,529.57; and Nifty 50 declined 151.05 pts  or 0.62% to 24,183.25. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-20th-july-2026/article71241122.ece)

## Business profile

**Strategic vision:** Affordable housing finance for economically weaker sections and low-income groups.

### Business segments
- **Affordable Housing Finance:** Focuses on addressing the home financing needs of economically weaker sections and low-income groups across India, providing a range of home loan solutions.

### Competitive strengths
- Focus on underserved communities in the affordable housing finance sector.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/aadharhfc
Markdown representation: https://faxioms.com/stocks/aadharhfc?render=md