Bajaj Housing Finance Q1 FY26: Rocket AUMs, Submarine P/E – Should You Mortgage Your Brain for This NBFC?

1. At a Glance

Bajaj Housing Finance Ltd (BHFL) is the nerdy offspring of Bajaj Finance, and it’s doing everything — except paying dividends. Q1 FY26: Profit ₹583 Cr (+21%), AUM up 24%, NPAs as clean as freshly laundered jeans. P/E? A lofty 45. Book value? Cries in ₹24.

2. Introduction with Hook

Picture this: your rich uncle (Bajaj Finance) opens a housing finance startup in 2008. By 2024, that kid’s buying bungalows, flexing ₹1 lakh crore market cap, and sipping ROEs like they’re coconut water.

But here’s the kicker: the stock’s trading 5x book, doesn’t pay dividends, and your bank savings account is jealous of its growth.

3. Business Model (WTF Do They Even Do?)

They do mortgages. But with Bajaj-level steroid injections.

• Home Loans (retail, salaried, self-employed)
• Loans Against Property
• Lease Rental Discounting
• Developer Financing
• Working Capital Loans

Basically, they’ll finance anything with a roof — home, shop, or even your startup office with a beanbag.

Also: 100% owned by Bajaj Finance, which means muscle + brand + deep NBFC DNA.

4. Financials Overview

Q1 FY26:

Last 12M PAT: ₹2,264 Cr
Last 12M Revenue: ₹9,983 Cr