Bajaj Housing Fin IPO listed @ Rs.150

 

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What is the business of Bajaj Housing Finance?

Bajaj Housing Finance: Leading Non-Deposit Housing Finance Company in India

Bajaj Housing Finance, a non-deposit taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since September 24, 2015, has been active in mortgage lending since Fiscal 2018. Recognized as an “Upper Layer” NBFC (NBFC-UL) by the RBI on September 30, 2022, it adheres to the “Scale Based Regulations (SBR)” framework introduced on October 22, 2021. It provides tailored financial solutions for both individuals and corporate clients, focusing on home and commercial space purchases, as well as renovations.

Its diverse mortgage product suite includes:

• Home Loans
• Loans Against Property (LAP)
• Lease Rental Discounting
• Developer Financing

BHFL primarily focuses on individual retail housing loans, complemented by a range of lease rental discounting and developer loans. This comprehensive approach ensures that its financial products meet the needs of various customer segments, from individual homebuyers to large-scale developers.

According to CRISIL MI&A, the housing shortage in India was projected to reach 100 million units by 2022. To address this, there is an estimated demand for housing loans between ₹50 trillion and ₹60 trillion. As of March 2023, outstanding housing loans (excluding Pradhan Mantri Awas Yojana loans) totaled approximately ₹28.73 trillion, underscoring significant market potential.

Its strategic focus targets low-risk, rapidly growing home loan customers. As of March 31, 2024, home loans constituted 57.8% of its assets under management (AUM), with 87.5% of these loans allocated to salaried customers, 4.3% to self-employed professionals, and 8.2% to self-employed non-professionals. Despite economic challenges and inflation due to the COVID-19 pandemic, the income of the salaried class remained stable, easing concerns about asset quality.

Its AUM reached Rs.913,704.0 million as of March 31, 2024, reflecting a compound annual growth rate (CAGR) of 30.9% from Fiscal 2022 to Fiscal 2024. The average ticket size for its home loans was Rs. 4.6 million, with a loan-to-value ratio averaging 70.5% as of March 31, 2024.

Part of the Bajaj Group, founded in 1926, BHFL is a diversified business entity with interests across multiple sectors. As of March 31, 2024, it served 308,693 active customers, with 81.7% holding home loans. Its loan disbursements totaled Rs. 446,562.4 million in Fiscal 2024, Rs. 343,336.3 million in Fiscal 2023, and Rs. 261,752.4 million in Fiscal 2022, indicating robust growth and expanded market reach.

To support its operations, it maintains a network of 215 branches across 174 locations in 20 states and three union territories. This network is managed through six centralized hubs for retail underwriting and seven centralized hubs for loan processing.

For more information, click www.bajajhousingfina nce.in

Bajaj Housing Finance IPO GMP grey market premium, review, Subscription, allotment, listing

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