BAJAJHFL

Fundamental Analysis

, a subsidiary of Bajaj Finance Ltd, is a non-deposit-taking housing finance company founded in 2008 and registered with NHB in 2015. Within just seven years of starting mortgage operations, BHFL has become the second-largest HFC and one of the most profitable in India. As of June 2024, it had an AUM of ₹97,071 crore, with 57.5% in home loans, 19.5% in lease rental discounting, 12% in developer financing, and 10% in LAP. BHFL has 323,881 active customers—mostly salaried individuals—and operates through 215 branches across 20 states and 3 UTs. Its GNPA and NNPA of 0.28% and 0.11%, respectively, are the lowest among large HFCs. The company’s average home loan ticket size is ₹46 lakh and it maintains a 3.9% NIM with 7.9% average finance cost. It raised ₹6,560 crore through an IPO in September 2024 to strengthen its capital base for further lending and also offers bundled insurance products through IRDAI registration.