Aadhar Housing Finance Ltd
Aadhar Housing Finance Ltd is one of the largest low-income housing finance companies in India servicing the home financing needs of the low income sections of the society. [1]
- Market Cap ₹ 21,107 Cr.
- Current Price ₹ 487
- High / Low ₹ 548 / 340
- Stock P/E 21.4
- Book Value ₹ 159
- Dividend Yield 0.00 %
- ROCE 11.4 %
- ROE 16.9 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 36.6% CAGR over last 5 years
Cons
- Stock is trading at 3.06 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company might be capitalizing the interest cost
- Promoters have pledged or encumbered 67.7% of their holding.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Finance Housing Finance Company
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Smallcap 100 BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1,266 | 1,388 | 1,575 | 1,728 | 2,043 | 2,587 | 3,108 | 3,376 | |
| Interest | 732 | 793 | 816 | 761 | 799 | 987 | 1,174 | 1,285 |
| 276 | 350 | 316 | 387 | 507 | 619 | 736 | 798 | |
| Financing Profit | 258 | 245 | 444 | 580 | 737 | 981 | 1,197 | 1,292 |
| Financing Margin % | 20% | 18% | 28% | 34% | 36% | 38% | 39% | 38% |
| -14 | -2 | -0 | 0 | -25 | -0 | 1 | 7 | |
| Depreciation | 9 | 12 | 11 | 13 | 16 | 21 | 25 | 27 |
| Profit before tax | 235 | 231 | 433 | 567 | 696 | 960 | 1,173 | 1,271 |
| Tax % | 31% | 18% | 21% | 22% | 22% | 22% | 22% | |
| 162 | 189 | 340 | 445 | 545 | 750 | 912 | 988 | |
| EPS in Rs | 64.37 | 47.99 | 8.62 | 11.27 | 13.80 | 18.99 | 21.14 | 22.88 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 22% |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 27% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 20% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 17% |
| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 39 | 395 | 395 | 395 | 395 | 431 | 433 |
| Reserves | 834 | 2,308 | 2,298 | 2,752 | 3,303 | 4,055 | 5,941 | 6,461 |
| Borrowing | 8,195 | 9,643 | 10,374 | 10,675 | 12,153 | 13,960 | 16,322 | 17,606 |
| 426 | 376 | 563 | 554 | 766 | 683 | 529 | 584 | |
| Total Liabilities | 9,480 | 12,366 | 13,630 | 14,376 | 16,618 | 19,093 | 23,224 | 25,083 |
| 42 | 44 | 53 | 55 | 63 | 80 | 92 | 105 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 150 | 24 | 497 | 338 | 459 | 462 | 513 | 489 |
| 9,289 | 12,298 | 13,080 | 13,982 | 16,095 | 18,551 | 22,618 | 24,489 | |
| Total Assets | 9,480 | 12,366 | 13,630 | 14,376 | 16,618 | 19,093 | 23,224 | 25,083 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -2,554 | -1,785 | -1,202 | -907 | -1,156 | -2,550 | -3,027 | |
| -49 | -1,495 | -480 | 823 | -477 | 723 | 160 | |
| 3,356 | 3,701 | 701 | 275 | 1,463 | 1,778 | 3,389 | |
| Net Cash Flow | 754 | 422 | -981 | 191 | -169 | -49 | 522 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| ROE % | 12% | 14% | 15% | 16% | 18% | 17% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Analyst/investor meeting on 4 Dec 2025 at DAM Capital, Trident BKC Mumbai; company presentation referenced.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
21 Nov - For allotment of equity shares pursuant to exercise of ESOPs
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Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
17 Nov - Nov 17, 2025: Members approved Aadhar Housing Finance ESOP 2025 and extension to group employees via postal ballot.
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
17 Nov - Shareholders approved Aadhar HFL ESOP 2025 and extension; voting Oct18–Nov16, 2025; approvals ~97.39% and 94.07%
Concalls
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Nov 2025Transcript PPT REC
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Jul 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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Jun 2024Transcript PPT
Focus on Low-Income Financing[1]
Aadhar Housing Finance is a housing finance company (HFC) focused on the low-income housing segment with a ticket size of < Rs 15 lakh. The average ticket size of loans was Rs 10 lakh, with an average loan-to-value of 58.3% end of December 2023.