Bajaj Housing Finance has appointed Vivek Adhav as Chief, Credit – Wholesale Lending, effective August 1, 2026. The Board of Directors approved the addition to the Senior Management Personnel (SMP) during a meeting held on July 29, 2026, which commenced at 2:30 p.m. and concluded at 3:35 p.m. The move strengthens the company’s leadership team in its wholesale lending segment.

The appointment is disclosed pursuant to Regulation 30 read with Part A, Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, for requisite disclosures. Atul Patni, Company Secretary, signed the disclosure filed with the Bombay Stock Exchange and the National Stock Exchange of India Limited.

Profile and Experience

Vivek Adhav brings extensive experience in corporate and wholesale credit, construction finance, venture debt, and cross-border lending. Prior to joining Bajaj Housing Finance, he was associated with Axis Bank for 21 years. During his tenure at Axis Bank, he held several leadership positions across large corporate credit, commercial real estate financing, new economy ventures, and international banking.

Adhav also played a pivotal role in building and scaling lending businesses, including venture debt financing for high-growth startups. He holds a PGDM in Finance from the Indian Institute of Management, Lucknow, and a Bachelor of Engineering in Electronics & Telecommunication from the Government College of Engineering, Aurangabad.

Key Appointment Details

What This Means

The appointment signals Bajaj Housing Finance’s focus on strengthening its wholesale lending capabilities. By bringing in a leader with deep expertise in corporate credit and venture debt, the company aims to enhance its risk assessment and lending strategies in the wholesale segment. Adhav’s background in scaling lending businesses aligns with the company’s growth objectives in competitive financing sectors.

Bajaj Housing Finance Limited reported a 23% year-on-year increase in profit after tax to ₹715.28 crore for the quarter ended June 30, 2026, driven by its highest-ever quarterly disbursements of ₹19,509 crore and robust assets under management (AUM) growth of 24% to ₹1,49,624 crore. The lender maintained strong asset quality with gross non-performing assets (GNPA) at 0.29%, while return on average equity (ROE) improved to 12.5% from 11.6% in the prior year period. This performance underscores the company’s operational leverage as it expands its diversified mortgage portfolio across home loans, lease rental discounting, and developer finance.

The Board of Directors approved the unaudited financial results on July 29, 2026, in compliance with Regulation 30 and Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Joint statutory auditors Singhi & Co. and Mukund M. Chitale & Co. issued an unmodified limited review report on the financial statements prepared under Ind AS. The filing also included disclosures on security cover for non-convertible debentures and utilization of proceeds from commercial papers.

Financial Performance Highlights

Net interest income rose by 9% to ₹968 crore, while total income increased by 16% to ₹1,175 crore. Operating expenses as a percentage of net total income improved to 19.6% from 21.2% in the previous year, reflecting better cost efficiency. Loan losses and provisions dropped significantly by 58% to ₹16 crore, contributing to the bottom-line growth. The cost of funds moderated by 7 basis points sequentially to 7.2%, while the net interest margin stood at 3.7%.

Asset Quality and Capital Adequacy

The company maintained strong capital adequacy with a capital-to-risk-weighted assets ratio of 21.59%, well above the regulatory requirement of 15%. Provision coverage for stage-3 assets stood at 58.53%. Disbursements surged by 33% to ₹19,509 crore, led by growth in home loans, lease rental discounting, and developer finance segments. Stage-2 assets stood at ₹416 crore (0.32%), indicating controlled migration risks.

What the Numbers Show

The divergence between revenue growth and expense control highlights operational leverage. While interest expenses rose by 18%, operating expenses grew only marginally at 7%, allowing pre-provisioning operating profit to expand by 19%. The significant drop in loan provisions, coupled with stable GNPA levels, suggests that earlier provisioning buffers are now supporting earnings without compromising asset quality metrics. ROE improvement to 12.5% despite stable ROA at 2.3% indicates efficient equity utilization.

Portfolio Growth Drivers

Home loans constituted the largest share of AUM at ₹80,865 crore, growing by 20% year-on-year. Lease rental discounting emerged as a key growth engine, expanding by 41% to ₹34,604 crore. Developer finance also saw healthy growth of 19%, reaching ₹17,002 crore. Loans against property grew by 22%. These segmental gains contributed to the overall 24% expansion in loan assets to ₹1,31,162 crore. The company confirmed that all secured non-convertible debentures maintain adequate security cover through hypothecation of book debts and loan receivables.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE377Y01014/5f9ba5a0-2684-4a49-bc03-262e6c0373bb.pdf