Bajaj Housing Finance Ltd. · NSE:BAJAJHFL
Bajaj Housing Finance — Investor Presentation (May 2026)
43 slides from Bajaj Housing Finance's investor presentation, May 11, 2026
Slide 1: Intimation under Regulation 30 - Investor Presentation
11 May 2026 To, To, The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1 Block G Dalal Street Bandra - Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400 051 BSE Code: 544252 NSE Code:
Slide 2: Corporate Presentation
4 HOUSING FINANCE BAJAJ CORPORATE PRESENTATION
Slide 3: Table of Contents
Table of Contents Industry Landscape 1 Industry Landscape Company Overview 2 Company Overview Year Gone By 3 Year Gone By Strategic Priorities 4 Strategic Priorities 2 2
Slide 4: Home Loans industry witnessed 13.4% CAGR from FY20 to FY26E
Home Loans industry witnessed 13.4% CAGR from FY20 to FY26E which is expected to grow in the range of 14-16% till FY28 (₹ in Tn) 13.4% CAGR 14-16% CAGR 60.0-63.0 45.5 40.6 35.9 31.9 27.0 23.6 21.4 FY20 FY21 FY22 FY23 FY24 FY25 FY26E FY28P 3 3 Note: P- projected, E-Estimate Source: CRIF Highmark, Cri
Slide 5: Home Loans industry witnessed 13.4% CAGR from FY20 to FY26E
Home Loans industry witnessed 13.4% CAGR from FY20 to FY26E which is expected to grow in the range of 14-16% till FY28 (₹ in Tn) 13.4% CAGR 14-16% CAGR 60.0-63.0 • Housing finance sector remained resilient owing to the Government impetus of “Housing for All”, rising per capita income, demand for lar
Slide 6: Lender wise home loan market share skewed towards banks
Lender wise home loan market share remained skewed towards banks with moderation in HFC share from FY21-FY25 CAGR CAGR (FY23- (FY20- 3.5% 3.7% 3.8% FY25) FY25) 4.0% 4.5% 4.8% 1.5% 1.8% 1.9% 2.1% 2.4% 3.2% 22.8% 21.1% 38.3% 32.7% 21.3% 20.3% 19.4% 19.7% 18.4% 18.3% 8.8% 10.3% 34.3% 35.0% 36.4% 35.9%
Slide 7: Lender wise home loan market share skewed towards banks
Lender wise home loan market share remained skewed towards banks with moderation in HFC share from FY21-FY25 CAGR CAGR (FY23- (FY20- 3.5% 3.7% 3.8% FY25) FY25) 4.0% 4.5% 4.8% 1.5% 1.8% 1.9% 2.1% 2.4% 3.2% 22.8% 21.1% 38.3% 32.7% 21.3% 20.3% 19.4% 19.7% 18.4% • Home loans market share continues to re
Slide 8: Table of Contents
Table of Contents Industry Landscape 1 Industry Landscape Company Overview 2 Company Overview Year Gone By 3 Year Gone By Strategic Priorities 4 Strategic Priorities 7 7
Slide 9: Consistent AUM growth trajectory over 9 years of operational journey
Consistent AUM growth trajectory over 9 years of operational journey 74.6% 63.1% Improved Opex to NTI 32.9% 27.7% 29.2% 25.7% from 74.6% to 19.7% 24.0% 20.8% 19.7% Healthy ROA 0.6% 1.1% 1.9% 1.5% 1.8% 2.3% 2.4% 2.4% 2.3% Lowest GNPA amongst 0.00% 0.05% 0.08% 0.35% 0.31% 0.22% 0.27% 0.29% 0.27% large
Slide 10: Strategic construct: Scalable balance sheet
Strategic construct for building sustainable business model CONSTRUCT Scalable Low Risk Deliver Full Mortgage Diversified Balance Sheet Business Model Reasonable Product Suite Borrowing Mix Return Our ambition is to become a large mortgage player AUM Last 5- hence scale is first strategic pillar for
Slide 11: Strategic construct: Low risk business model
Strategic construct for building sustainable business model CONSTRUCT Scalable Low Risk Deliver Full Mortgage Diversified Balance Sheet Business Model Reasonable Product Suite Borrowing Mix Return Second important strategic construct is low risk orientation for the Company as we believe scale and ri
Slide 12: Strategic construct: Reasonable return
Strategic construct for building sustainable business model CONSTRUCT Scalable Low Risk Deliver Full Mortgage Diversified Balance Sheet Business Model Reasonable Product Suite Borrowing Mix Return BHFL aims to deliver reasonable return, through an optimized mix of products which are scale builders a
Slide 13: Strategic construct: Full mortgage product suite
Strategic construct for building sustainable business model CONSTRUCT Scalable Low Risk Deliver Full Mortgage Diversified Balance Sheet Business Model Reasonable Product Suite Borrowing Mix Return BHFL operates in all segments and sub segments of mortgages to deliver scale, low risk and reasonable r
Slide 14: Strategic construct: Diversified borrowing mix
Strategic construct for building sustainable business model CONSTRUCT Scalable Low Risk Deliver Full Mortgage Diversified Balance Sheet Business Model Reasonable Product Suite Borrowing Mix Return NCD 43.9% Mortgage is a long-term asset business which requires Bank 40.8% long-term liabilities to avo
Slide 15: 2nd largest HFC offering full suite of mortgage products
Company Overview - 2nd largest HFC offering full suite of mortgage products RETAIL COMMERCIAL HOME LOANS LEASE RENTAL DISCOUNTING ▪ Salaried Prime Home Loan ▪ Commercial Lease Rental Discounting ▪ Self-employed & Professional Prime Home Loan ▪ Retail Lease Rental Discounting ▪ Near Prime & Affordabl
Slide 16: Focused metrics across products
Focused metrics across products RETAIL COMMERCIAL HOME LOANS LEASE RENTAL DISCOUNTING AUM 76,055 Cr AUM 31,531 Cr ▪ All home loan transactions ▪ Offering across specialized across all customer segments commercial assets ▪ Micro Market strategy for Locations 182 ▪ Diverse lessee base with focus Locat
Slide 17: Organization structure: Business verticals and horizontal functions
Organization structure: Business verticals having dedicated enabling functions and common horizonal functions 3 Business Verticals Retail Retail Commercial (Prime) (Near Prime and Affordable) (LRD and DF) Dedicated Sales teams for both Dedicated Sales teams for near prime Dedicated Sales teams for L
Slide 18: Organization structure: Business verticals and horizontal functions
Organization structure: Business verticals having dedicated enabling functions and common horizonal functions 3 Business Verticals Retail Retail Commercial (Prime) (Near Prime and Affordable) (LRD and DF) The internal organization structure is aligned basis customer segmentation i.e. Prime Dedicated
Slide 19: Housing finance is a matured industry dominated by banks
Housing finance is a matured industry which is dominated by banks with long presence in industry while BHFL is a late entrant in the highly competitive prime segment. This leads to the primary questions: How does BHFL get access and acquire customer?? and How will BHFL continue to grow?? 18 18
Slide 20: How BHFL connects with prospective customer
How BHFL connects with prospective customer Customer Acceptance Brand Strong brand recall and trust of “Bajaj” group Optimized Cost of Highest possible credit rating, consistent financial performance and active Fund treasury management delivering optimized COF to sustain competitive intensity Compet
Slide 21: How BHFL connects with prospective customer
How BHFL connects with prospective customer Customer Acceptance Brand Strong brand recall and trust of “Bajaj” group Doorstep service and faster processing Digital process from Optimized Cost of Highest possible credit rating, consistent financial performance and activeto loan processing onboarding
Slide 22: How will BHFL continue to grow
How will BHFL continue to grow Mortgages is very large industry with home loan portfolio itself is estimated in excess of 45 Lakh Cr. while BHFL’s total portfolio stood at 1.41 Lakh Cr. which provides significant headroom of growth over medium term for the Company which will be tapped through: 1) Gr
Slide 23: Growth Across All Products - Guiding Principle
Growth Across All Products - Guiding Principle for Product Growth Though we focus on growing all products, our portfolio mix may have 2-3% movement within products as each product line has its specific role in the overall strategic construct to maintain scale, low risk and reasonable return. Accordi
Slide 24: Product wise Operating Strategy
Product wise Operating Strategy Home Loans (54.1%) LRD (22.4%) DF LAP (11.5%) (10.8%) 23 23
Slide 25: Omnichannel sourcing strategy for Prime and Sambhav segments
Omnichannel sourcing strategy to cater both Prime and Sambhav segments Omnichannel Sourcing Strategy Developer Aggregators sites Direct Selling Self- INDIRECT DIRECT Agents sourcing 43% FY26 57% Channel Digital Partners Partners Digital Connectors Ecosystem Acquisition Mix between Prime and Sambhav
Slide 26: Distinct expansion strategies for both segments
Distinct expansion strategies for both segments PRIME SEGMENT SAMBHAV SEGMENT ✓ Scale driver ✓ Expansion of Customer segment ✓ Lower risk ✓ Yield Enhancer DEEPEN presence and increase wallet share WIDEN reach and operating segments DISTRIBUTION EXPANSION NON-TOP-6 ✓ Expanding presence beyond top-6 m
Slide 27: LRD Operating Strategy
LRD Operating Strategy Home Loans (54.1%) LRD (22.4%) DF LAP (11.5%) (10.8%) 26 26
Slide 28: Pristine Asset quality portfolio since inception
Pristine Asset quality portfolio since inception Role in Strategic Construct: ✓ Scale builder ✓ Lower risk portfolio ✓ Reasonable Return Thorough credit assessment of Three critical elements LESSOR LESSEE COLLATERAL ✓ Financial robustness of lessor SPV and ✓ Local real estate market assessment its p
Slide 29: DF Operating Strategy
DF Operating Strategy Home Loans (54.1%) LRD (22.4%) DF LAP (11.5%) (10.8%) 28 28
Slide 30: Differentiated sourcing strategy
Differentiated sourcing strategy Role in Strategic Construct: ✓ Key enabler for funnel expansion of retail home loans ✓ Return enhancer for the Company ✓ Full mortgage product suite coverage Key Differentiators in Sourcing Strategy ✓ Each location is bifurcated into micro markets basis current launc
Slide 31: Overarching Guard rails for minimizing risk
Overarching Guard rails for minimizing risk ✓ Interest repayment from day 1 during initial principal mortarium period as well ✓ ESCROW mechanism for project cash flows tracking with pre-defined sweep structure ✓ Sweep structure ensures principal run-down during moratorium period as well ensuring pea
Slide 32: LAP Operating Strategy
LAP Operating Strategy Home Loans (54.1%) LRD (22.4%) DF LAP (11.5%) (10.8%) 31 31
Slide 33: Enhancing wallet share for return enhancement
Enhancing wallet share for return enhancement Role in Strategic Construct: ✓ Return enhancer for the Company ✓ Full mortgage product suite coverage Key Differentiators ✓ Assessed income backed lending along with assessment of collateral value ✓ Diverse customer base with comfortable LTV levels Expan
Slide 34: Digital Capabilities
Digital Capabilities Mortgage is a process heavy business requiring multiple wet signatures, paperwork and multiple visits, however, with our aim to deliver seamless and consistent customer experience, we continue to introduce various digital initiatives to ease these processes and build operating e
Slide 35: Seamless Digital Journey from Origination to Service
Seamless Digital Journey from Origination --> Service Customer’s Entry into BHFL Ecosystem: Digital Customer Auto CAM having Sales Mobility App Partner Portal Onboarding Journey AA integration Simplified Onboarding Experience Faster Approval (Auto data fetching) and Analysis Developer sites Intermed
Slide 36: Encouraging penetration reflecting adoption of digital initiatives
Encouraging penetration reflecting adoption of BHFL’s digital initiatives Customer Onboarding E-Agreement SOA/ RPS / Interest Journey Penetration Penetration Certificate Downloaded through App ~94% of retail logins^ ~96% of retail agreements^ 34,500+ customers/ month* Loan agreements Sanction letter
Slide 37: Table of Contents
Table of Contents Industry Landscape 1 Industry Landscape Company Overview 2 Company Overview Year Gone By 3 Year Gone By Strategic Priorities 4 Strategic Priorities 36 36
Slide 38: Financial Snapshot and Current Update on Initial Assessment for FY26
Financial Snapshot and Current Update on Initial Assessment for FY26 ₹ in Crore Particulars Q4 FY26 Q4 FY25 YoY FY26 FY25 YoY Key FY26 Financial Assessm Status Assets under management 140,706 114,684 23% 140,706 114,684 23% Indicators ent Loan Assets 123,745 99,513 24% 123,745 99,513 24% AUM Interes
Slide 39: Table of Contents
Table of Contents Industry Landscape 1 Industry Landscape Company Overview 2 Company Overview Year Gone By 3 Year Gone By Strategic Priorities 4 Strategic Priorities 38 38
Slide 40: Strategic Priorities
Strategic Priorities Optimize product mix with 2-3% movement in current portfolio mix Balanced while playing out between products and sub-segments basis risk- Product Mix adjusted return Increase Continue to invest in the deepening and widening strategy for 5% Home Loans market share in incremental
Slide 41: Large Mortgage Player
LARGE MORTGAGE PLAYER BHFL shall strive to continue building heft in the mortgage market through its execution and tech capabilities to garner incremental market share and deliver its medium-term AUM growth guidance with improved operating efficiencies while maintaining its asset quality. 40 40
Slide 42: Thank You
> 4 HOUSING FINANCE BAJAJ THANK YOU
Slide 43: Disclaimer
Disclaimer This presentation has been prepared by and is the sole responsibility of Bajaj Housing Finance Limited (referred to as the “Company” or “Bajaj Housing Finance” ) solely for information purposes, without regard to any specific objectives, financial situations or informational needs of any
Bajaj Housing Finance — Investor Presentation (May 2026) on 6ix