Aadhar Housing Finance Ltd · NSE:AADHARHFC
Aadhar Housing Finance — H1 FY27 Earnings Presentation
43 slides from Aadhar Housing Finance's earnings presentation, Nov 5, 2026
Slide 1: Intimation to stock exchanges: Investor Presentation
Date: 5th November, 2026 To, To, BSE Limited National Stock Exchange of India Limited Listing Dept. / Dept. of Corporate Services, Listing Dept., Exchange Plaza, 5th Floor, Plot No. Phiroze Jeejeebhoy Towers, Dalal Street, C/1, G. Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001. Mumbai - 4
Slide 2: Aadhar Housing Finance Limited Investor Presentation H1 FY27
Aadhar Housing Finance Limited Investor Presentation H1 FY27
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), have been prepared by Aadhar Housing Finance Limited (“Aadhar” or the “Company”), without any specific objectives and solely for information and reference purposes, and do not constitute directly or indirectly any adverti
Slide 4: Performance Snapshot
fa Aadhar' ‘Guan oANecA, TOM DESH BaNECA. PERFORMANCE SNAPSHOT
Slide 5: H1 FY27 Key Highlights
H1 FY27 Key Highlights AUM Disbursements ₹ 326,433 Mn1 ₹ 46,131 Mn1 +20% +21% PAT ROA ₹ 5,907 Mn 4.2% -1 bps +22%2 GNPA Spread 1.3% -8 bps 5.7% Note 1: The Company has transitioned disbursement reporting to cheque realisation w.e.f Q1 FY27. Adjusting for the same, H1 FY27 disbursement growth is 21%
Slide 6: H1 FY27 Key Performance Highlights
H1 FY27 Key Performance Highlights SCALE ASSET QUALITY INR 326 bn INR 5.9 bn PAT AUM (100% Secured 348k 1.3% c.61% c.55% Retail Book) INR 82 bn Net worth Live accounts GNPA LTV1 AUM to Salaried customers DISTRIBUTION LIABILITY PROFILE INR 46 bn 632 23 AA+ / Stable 43 Borrowings Positive ALM H1 FY27
Slide 7: Financial Performance
FINANCIAL PERFORMANCE
Slide 8: Strong Growth in AUM and Disbursements
Strong Growth in AUM and Disbursements AUM – By Product (INR Mn) – 18%1 Growth in Q2 FY27 Disbursement – By Product (INR Mn) – 22% Growth in Q2 FY27 One Time Impact: Refer Note 1 305,713 326,433 46,131 40,890 255,307 35,323 11,672 211,209 83,664 88,649 31,632 12,832 67,126 9,671 53,258 8,528 222,049
Slide 9: Stable Spreads Maintained Across Cycles
Stable Spreads Maintained Across Cycles Yields, Cost of Borrowings and Spreads (%) 1 : “Spreads maintained Stable” 13.9% 13.9% 13.5% 2 13.8% 13.7% 2 13.4% 13.4% 13.5% 13.5% 13.4% 8.0% 8.2% 7.6% 7.7% 7.7% 7.9% 7.7% 7.7% 7.7% 7.7% 5.8% 5.9% 5.7% 5.8% 5.7% 5.9% 6.0% 5.8% 5.8% 5.7% FY23 FY24 FY25 FY26 H
Slide 10: Stable Asset Quality and Consistent Improvement in Efficiency
Stable Asset Quality and Consistent Improvement in Efficiency GNPA to AUM - Improved by 8bps in Q2 FY27 Cost to Income – Improved by 230 bps in Q2 FY27 (Refer Note 1) 0.8% 0.7% 0.8% 0.7% 1.16% 37.5% 36.4% 36.1% 36.2%1 35.9% 1.08% 1.08% 1.05% FY23 FY24 FY25 FY26 FY24 FY25 FY26 H1 FY26 H1 FY27 1.0% 0.
Slide 11: Strong Profitability and Returns
Strong Profitability and Returns PAT Increased by 22% (Refer Note 1 on ESOP) in H1 FY27 Stable Return Ratios 40 59 69 82 4.2% 4.3% 4.4% 4.2% 4.2% 5,907 18.4% 16.9% 4,277 5,038 15.9% 15.1% 15.0% 3,436 H1 FY24 H1 FY25 H1 FY26 H1 FY27 FY24 FY25 FY26 H1 FY26 H1 FY27 40 59 69 82 4.3% 4.6% 4.8% 4.0% 4.2%
Slide 12: Company Overview
COMPANY OVERVIEW
Slide 13: Introduction to Aadhar Housing Finance
Introduction to Aadhar Housing Finance HFC focused on low-income 100% Granular portfolio Pan-India presence with 632 housing segment with ticket secured skewed towards Salaried branches covering 555 districts across size less than INR1.5mn, retail loan customers; Average 23 states and union territor
Slide 14: Aadhar Housing Finance – Value Proposition
Aadhar Housing Finance – Value Proposition Focused on low-income Diversified and housing segment granular portfolio Extensive branch and sales office Access to diversified funding network with geographical sources, positive ALM position penetration across India Robust, analytics driven Scalable tech
Slide 15: Key Milestones
Key Milestones Seasoned business model showcasing strong resilience across business cycles FY11 FY17 FY20 FY24 FY26 Customer base Year of Pre-merger crossed 1,50,000; Incorporation of AHFPL AUM of Acquired by the Pre-merger opened 100th INR 306 Bn Blackstone AHFPL branch Branches Branches 626 Group1
Slide 16: Highly Experienced Board of Directors
Highly Experienced Board of Directors Deo Shankar Tripathi Sharmila A. Karve Interim Non-Executive Chairperson* Independent Director ▪ Previously served as MD & CEO of the Company ▪ Previously associated with Price Water House Coopers as a Partner ▪ Named in “101 Top Most Influential BFSI Leaders” b
Slide 17: Seasoned Management Team
Seasoned Management Team Rishi Anand, Rajesh Viswanathan, Managing Director and CEO Chief Financial Officer ▪ Several years of experience in accounting, finance, strategy, ▪ 30 + years of work experience across a diverse spectrum of functions and planning, taxation, treasury, and investor relations
Slide 18: Business Overview
BUSINESS OVERVIEW
Slide 19: Pan-India Presence: Distribution Network
Pan-India Presence Distribution Network Branch Distribution Top 3 States Top 5 States Others GJ Other States with Presence 18% 12% By State (September 30, 2026) States not present in MH KTK 12% 632 Branches1 6% Sept-26 Uttar Pradesh 72 Branches AP 632 7% Branches UP 11% TL Rajasthan 8% 56 Branches R
Slide 20: Distribution Strategy
Distribution Strategy Agile branch network with each location catered to by an appropriate branch size, helping keep Opex in control Deep Ultra Deep Impact Micro Impact Branch Main Branches Micro Micro Small Branches Branch Branch AMs Micro Branches Ultra Small Main Small Ultra Micro Micro Ultra-Mic
Slide 21: Distribution Strategy: Branch Breakup Examples
Distribution Strategy Branch Breakup: Examples Uttar Pradesh Bareilly (B) Lucknow Firozabad (C) Urban Emerging Varanasi (A) No of Branches: 154 No of Branches: 478 Rajasthan Rest of Maharashtra Sawai Modhapur (A) Malegaon (C) Amravati (B) Pali (B) Churu (C) Pune No of Branches No of Branches No of B
Slide 22: Comprehensive Credit Assessment Process
Comprehensive Credit Assessment Process Credit Underwriting Risk Containment Unit Centralized processing at regions –Salaried Customers File screening, field investigation, • Regional processing units to process applications for salaried customers document verification • Ensures standardisation, cos
Slide 23: Diversified Funding Sources
Diversified Funding Sources NHB Increasing focus on diversifying borrowings 8.4% 7.8% 8.0% 8.0% NHB NCD 7.5% NCD 15% 7.1% 22% 5.9% NHB 17% ECB 64 22% 56 Others 7% 50 1% 38 39 Others 18 16 3% Mar-22 Sept-26 FY22 FY23 FY24 FY25 FY26 Q2 FY26 Q2 FY27 Incremental Borrowings (INR bn) Interest Rate Banks B
Slide 24: ALM Position
ALM Position Positive ALM Position Across Buckets Asset Liability Management – INR bn (as of Sept-26) 73% of Gross AUM and 81% of borrowings have floating interest rates 410 372 301 218 249 191 108 80 29 26 52 38 Upto 1 year Upto 3 years Upto 5 years Total 1 2 Assets Liabilities Gap High-level of Ra
Slide 25: Social Objectives at the Core of the Business
Social Objectives at the Core of the Business Home Aspirations Socially Inclusive Governance Portfolio focused on EWS / LIG segments Overview of various CSR activities Blackstone, a leading investment firm, with total AUM 61% Aadhar Mitras / Mahila Aadhar Mitras of US$1.4 trillion1, is the Gross AUM
Slide 26: AI and Tech Capabilities
AI and TECH CAPBILITIES ‘Guan oANecA, TOM DESH BaNECA.
Slide 27: AI is the operating backbone of AHFL, not a set of projects
AI is the operating backbone of AHFL, not a set of projects AI is being institutionalized as the enterprise intelligence layer — embedded across origination, underwriting, surveillance, collections, and retention — directly tied to growth quality, NPA control, and operating leverage. Embedded, not b
Slide 28: Strategic AI Platforms being built in-house
Strategic AI Platforms being built in-house Across the five AI engines, a small set of reusable, cross-engine AI capabilities emerges repeatedly. These are the strategic platforms we are building and owning in-house for reuse, control, and long-term competitive differentiation. LEKHA DHVANI SAMVIT S
Slide 29: AI initiatives driving impact – Productivity & Efficiency
AI initiatives are driving measurable impact – Productivity & Efficiency PRODUCTIVITY & EFFICIENCY More output from the same workforce through smarter task allocation and automation Sales Productivity & Incentives Collections Prioritisation AI platform tracking sales funnel performance, productivity
Slide 30: AI initiatives driving impact – Credit Quality & Cost Reduction
AI initiatives are driving measurable impact – Credit Quality & Cost Reduction Each initiative is active in daily operations — governed, tracked, and tied to a clear business outcome. CREDIT QUALITY AND COST REDUCTION Reducing credit cost, vendor spend, and processing inefficiency Reject Scorecard E
Slide 31: Digital-First Operating Model across the lending value chain
Our Digital-First Operating Model is yielding benefits across the entire lending value chain End-to-End TCS-Enabled Core System Digital Acquisition Digital Processing 25-35 mins 100% Door-to-Login Time Paper-less Onboarding Digital Collections Digital Servicing 97% 108,000+ NACH Conversion Customer
Slide 32: Digital Capabilities on Scalable Technology Platform by TCS
Our Digital Capabilities are built on Scalable and Agile Technology platform developed by TCS Analytics Digital Onboarding • Monitoring of loan portfolios • Digitizing loan life cycle management • Servicing & performance management of pool investments on a continuous basis 8 1 • • Capturing leads fr
Slide 33: IT Platform augmented through Strategic Partnerships
We have augmented our IT Platform with Digital Capabilities through Strategic Partnerships DIGITAL ACQUISITION DIGITAL PROCESSING DIGITAL SERVICING Karza → PAN, Aadhaar, EPFO Verifications Digital Welcome Kit Lead Generation Identify Tech iXsight → Dedupe Engine Anur Cloud CSC Reg Tech CRIF → Multi
Slide 34: Suite of Applications for Customers and Employees
We have developed and launched an extensive Suite of Applications for Customers and Employees Robust customer engagement and partner empowerment through mobility apps; Focus on consistently improving employee experience through virtual office Sales Mobility App Employee Super App Customer Service Co
Slide 35: Industry Overview
INDUSTRY OVERVIEW
Slide 36: Affordable Housing Finance Market in India: Opportunity Size
Affordable Housing Finance Market in India: Opportunity Size • Urban areas are projected to host 40% of India's population by 2030 from current 36% leading to a rise in Affordable housing in urban areas • An expected shortage of affordable housing units is expected to be 32.3 Mn by 2030 which includ
Slide 37: Key Growth Enablers
Key Growth Enablers Government Initiatives’ Impact Changing Dynamics Market Penetration Opportunities Focus on Financial Inclusion on Housing Finance • Increased allotment for Housing Schemes: The • Urbanization: Migration to cities drives • Low Mortgage-to-GDP Ratio: At • There's a growing emphasis
Slide 38: Financial Information
FINANCIAL INFORMATION
Slide 39: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement Particulars (INR Mn) Q2 FY27 Q2 FY26 YoY Q1 FY27 QoQ H1 FY27 H1 FY26 YoY Interest on loans 8,978.8 7,714.3 8,579.7 17,558.5 15,028.5 Other Interest and Investment Income 325.3 320.4 345.8 671.1 655.2 Non-Interest Income 520.8 517.1 547.0 1,067.8 1,056.5 Upfront
Slide 40: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INRmn) As on September 30, 2026 As on March 31, 2026 Sources of Funds Share capital 4,384 4,357 Reserves and surplus 77,631 71,052 Borrowings 204,404 187,438 Trade payables & Other Liabilities 7,334 11,141 Derivative Financial Instruments - - Total 293,752 273
Slide 41: ECL Provisions
ECL Provisions Particulars (INR Mn) Sept 30th, 2026 Sept 30th, 2025 March 31st, 2026 Gross Stage 1 255,595 214,226 240,994 % portfolio in Stage 1 95.1% 95.0% 95.9% ECL Provision Stage 1 807 646 859 ECL Provision % Stage 1 0.3% 0.3% 0.4% Gross Stage 2 9,555 7,883 7,556 % portfolio in Stage 2 3.55% 3.
Slide 42: Glossary
Glossary Terminology Definition Terminology Definition ALM Asset Liability Management LIH Low Income Housing AM Aadhar Mitra LTV Loan to Value ATS Average Ticket Size NBFC Non-Banking Financial Company AUM Assets Under Company’s Management NCD Non-Convertible Debenture CAGR Compounded Annual Growth
Slide 43: Thank You
THANK YOU For further information, please contact Sanjay Moolchandani – Head of Investor Relations and FP&A sanjay.Moolchandani@aadharhousing.com Investor Relations – Aadhar Housing Finance Limited investorrelations@aadharhousing.com Adfactors PR – Investor Relations Aashvi Shah/ Mayuri Karkera aash
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