Aadhar Housing Finance Ltd · NSE:AADHARHFC
Aadhar Housing Finance — FY2026 Earnings Presentation
42 slides from Aadhar Housing Finance's earnings presentation, May 5, 2026
Slide 1: Exchange filing cover letter
Date: May 5, 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 - 400 051
Slide 2: Aadhar Housing Finance Limited Investor Presentation FY26
Aadhar Housing Finance Limited Investor Presentation FY26
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
PERFORMANCE SNAPSHOT
Slide 5: FY26 Key Highlights
Aadhar Housing Finance FY26 Key Highlights AUM Disbursements ₹ 305,713 Mn +20% ₹ 95,557 Mn +17% PAT ROA ₹ 11,083* Mn +22% 4.4%*+7 bps GNPA Spread 1.08% +3 bps 5.8% +13 bps *Excluding impact of new labour code arising out of past service cost of ₹159 Mn (Net of tax ₹124 Mn). 3
Slide 6: FY26 Key Highlights
Aadhar Housing Finance FY26 Key Highlights HFC focused on low-income housing segment in India, with a seasoned business model and digital focus SCALE ASSET QUALITY DISTRIBUTION LIABILITY PROFILE INR 306 bn Rating Upgrade 1.08% INR 96 bn Mar-26 AUM GNPA (Mar-26) AA+ / Stable (100% Secured Retail Book
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) : Growth of 20% in FY26 YoY Disbursement – By Product (INR Mn) : Growth of 20% in Q4 FY26 YoY 20% Growth YoY 17% growth YoY 305,713 95,557 255,307 81,921 83,664 70,724 27,898 211,209 59,026 23,448 172,228 67,126 20,203 53,258 16,974 37
Slide 9: Stable Spreads Maintained Across Cycles
Stable Spreads Maintained Across Cycles Yields, Cost of Borrowings and Spreads (%) 1 : Spread increased by 13 bps in FY26 YoY 13.9% 13.9% 13.5%2 13.9% 13.8% 13.8% 13.7% 13.0% 13.4% 13.5%2 8.0% 8.2% 8.2% 8.0% 7.6% 7.7% 7.9% 7.7% 7.7% 7.0% 6.0% 2 5.8% 5.9% 5.7% 5.8% 5.7% 5.8% 5.9% 6.0% 5.8% 2 FY22 FY2
Slide 10: Stable Asset Quality and Consistent Improvement in Efficiency
Stable Asset Quality and Consistent Improvement in Efficiency Asset Quality Metrics – GNPA to AUM maintained in FY26 Cost to Income – Improved by 55bps in FY26 on YoY basis 0.8% 0.7% 0.8% 0.7% 1.16%1 38.1% 37.5% 36.4% 35.9%2 1.08% 1.08% 1.05% FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 0.8% 0.7% 0.8% 0.
Slide 11: Strong Profitability and Returns
Strong Profitability and Returns Profit after Tax Increased by 22% in FY26 on YoY basis Consistent Increase in Return Ratios 37 44 64 75 3.6% 4.2% 4.3% 4.4% 22% Growth 11,083 16.5% 18.4% 16.9%* 15.9% 9,118 7,496 5,643 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 37 44 64 75 4.4% 4.0% 4.3% 4.6% 4.8% 27% G
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 626 housing segment with ticket secured skewed towards Salaried branches covering 552 districts across size less than INR1.5mn, retail loan customers; Average 22 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 FY25 Year of Pre-merger Customer base Incorporation of AHFPL crossed 1,50,000; Pre-merger opened 100th Acquired by the AHFPL branch Blackstone Group1 Branches Branches Customer in June 2019
Slide 16: Highly Experienced Board of Directors
Highly Experienced Board of Directors Raj Vikash Verma, Sharmila A. Karve, Independent Director & Non- Executive Chairman Independent Director 40 years of work experience across Banking, Finance, Mortgage and Real Previously associated with Price Water House Coopers as a Partner Estate Sector, inclu
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
Pan-India Presence Distribution Network Branch Distribution Top 3 States Others MH Top 5 States 12% By State (March 31, 2026) 17% Other States with Presence States not present in GJ KTK 12% 6% 626 Branches1 Mar-26 Uttar Pradesh AP 626 71 Branches 7% Branches UP TL 11% 8% Rajasthan MP RJ TN 56 Branch
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 APTL (Andhra Pradesh / Telangana) Hyderabad Wanaparth (B) Urban Emerging Kurnool (A) Rajasthan Guduru (C) No of Branches: 153 No of Branches: 473 Rest of Maharashtra Bundi (A) Shrirampur (C) Deoli (C) Aurangabad (A) Pune Bhilwara Kota (B) No of Branches
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% 8.4% 8.0% NCD 7.6% NCD 19% 7.1% NHB 5.9% NHB 17% 22% 22% ECB 64 Others 56 50 5% 1% 38 39 Others 22 24 4% Mar-22 Mar-26 FY22 FY23 FY24 FY25 FY26 Q4 FY25 Q4 FY26 Incremental Borrowings (INR bn) Interest Rate Banks Ba
Slide 24: ALM Position
ALM Position Positive ALM Position Across Buckets Asset Liability Management – INR bn (as on Mar-26) 73% of Gross AUM and 76% of borrowings have floating interest rates 427 310 347 223 234 181 108 80 76 79 27 42 Upto 1 year Upto 3 years Upto 5 years Total 1 2 Assets Liabilities Gap High-level of Rat
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 63% Aadhar Mitras / Mahila Aadhar Mitras of US$1.3 trillion1, is the Gross AUM
Slide 26: Tech Capabilities
TECH CAPBILITIES
Slide 27: Digital-First Operating Model
Digital-First Operating Model 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 App Logins 40+ Fintech Integrations 25
Slide 28: Business Transformation through Data Science (AI / ML)
Business Transformation through Data Science (AI / ML ) Credit Risk Underwriting • Application scorecards for credit underwriting • Automatic rejection of non-creditworthy loan applicants Collections Analysis Asset Quality & Risk Management Strengthening risk analytics with cutting-edge AI/ML • Pred
Slide 29: Data & Analytics Maturity: The Growth Multiplier
Data & Analytics Maturity: The Growth Multiplier FY25 Aadhar Artificial • Business Coverage Widening Intelligence as a • Product Machine catalyst for • Operations Learning for Business • FP&A Transformatio Transformation Predictive • Treasury nal Insights Analytics for • RCU Integrated Strategic • H
Slide 30: Transforming Data & AI: Built to Scale, Engineered for Trust
Transforming Data & AI: Built to Scale, Engineered for Trust Advanced AI & Related Source AI/ML Stack Initiatives Structured Data Data Warehouse Auto AI/ML ML/Ops Deployment Credit Risk Underwriting LOS (AADM) Platform Platform Scorecards Prebuild Collections Scorecards – Bounces Data-Marts API Deli
Slide 31: Agile Digital Infrastructure
Agile Digital Infrastructure Scalable Technology Platform Developed by TCS enabling smooth and agile Digital Processes Analytics Digital Onboarding • Monitoring of loan portfolios • Digitizing loan life cycle management • Servicing & performance management of pool investments on a continuous basis 8
Slide 32: IT Platform augmented with Digital Capabilities
IT Platform augmented with Digital Capabilities 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 Bureau Verifications Open Banking Novel Pat
Slide 33: Extensive Suite of Applications
Extensive Suite of Applications 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 Collections App Faster onboarding of Integrated HR app for all c
Slide 34: Industry Overview
INDUSTRY OVERVIEW
Slide 35: 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 36: 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 37: Financial Information
FINANCIAL INFORMATION
Slide 38: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement Particulars (INR Mn) Q4 FY26 Q4 FY25 YoY Q3 FY26 QoQ FY26 FY25 YoY Interest on loans 8,300.4 6,943.0 8,076.6 31,405.5 26,018.3 Other Interest and Investment Income 249.2 350.1 291.7 1,196.1 1,394.0 Non-Interest Income 670.6 556.2 523.4 2,257.7 2,006.3 Upfront I
Slide 39: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (INRmn) As on March 31, 2026 As on March 31, 2025 Sources of Funds Share capital 4,357 4,314 Reserves and surplus 71,052 59,409 Borrowings 187,438 163,224 Trade payables & Other Liabilities 11,141 5,146 Derivative Financial Instruments - 147 Total 273,988 232,2
Slide 40: ECL Provisions
ECL Provisions Particulars (INR Mn) March 31st, 2026 December 31st, 2025 March 31st, 2025 Gross Stage 1 240,994 224,781 196,774 % portfolio in Stage 1 95.9% 95.3% 94.9% ECL Provision Stage 1 859 681 594 ECL Provision % Stage 1 0.4% 0.3% 0.3% Gross Stage 2 7,556 7,796 8,269 % portfolio in Stage 2 3.0
Slide 41: 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 42: Thank You
THANK YOU For further information, please contact Sanjay Moolchandani – Head of FP&A sanjay.Moolchandani@aadharhousing.com Investor Relations – Aadhar Housing Finance Limited investorrelations@aadharhousing.com Adfactors PR – Investor Relations Snighter Albuquerque / Vanessa Fernandes snighter.a@adf
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