The company posted a net profit of Rs 643 crore for Q2, up from Rs 546 crore in the same quarter last year. Revenue rose 14% to Rs 2,755 crore from Rs 2,410 crore a year earlier.
Sequentially, profit after tax (PAT) increased 10% from Rs 583 crore in Q1FY26, while revenue grew 5.3% from Rs 2,616 crore.
Net interest income (NII) surged 34% YoY to Rs 956 crore in Q2FY26, compared with Rs 713 crore a year ago. Net interest margins (NIMs) remained steady sequentially at 4%, slightly lower than the 4.1% recorded in the year-ago period.
Assets Under Management (AUM) grew a robust 24% YoY to Rs 2.27 lakh crore in Q2FY26, compared with Rs 1.02 lakh crore in Q2FY25. AUM for the quarter also exceeded the Rs 5,736 crore reported in Q1FY26.
Home loan disbursements rose 19%, while loans against property grew 29%.The company also reported a 34-basis-point sequential decline in its cost of funds (COF), supported by policy rate transmission on existing borrowings and lower incremental borrowing costs. Its liquidity buffer stood at Rs 2,265 crore as of September 30, 2025, with a liquidity coverage ratio (LCR) of 176%, well above the regulatory minimum of 100%.Following the Q2 results, Morgan Stanley maintained an ‘Overweight’ rating on Bajaj Housing Finance and reiterated its target price of Rs 1,150.
The brokerage noted that NIM guidance remains moderate for FY26 amid portfolio attrition pressures. Attrition stood at 21–22% in H1FY26, up from 15–16% a year earlier, with 14–15% driven by balance transfers.
Credit cost remained stable at 16 basis points—up 2 bps quarter-on-quarter but down 114 bps YoY. Non-interest income rose 12% sequentially to Rs 15 crore from Rs 11 crore in Q1, though it declined 23% YoY.
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