GIC Housing Finance completed the full redemption of ₹300 crore in Non-Convertible Debentures (NCDs) on August 21, 2026. The NBFC also paid accrued interest of ₹24.84 crore for the series, bringing the outstanding amount to nil.

The transaction relates to NCDs with ISIN INE289B07099, listed on the BSE under scrip code 976182. The company confirmed that both the principal repayment and interest payment were made on the due date, adhering to the maturity schedule.

Transaction Details

The redemption was executed as a full maturity event rather than a partial buyback or premature call. The interest payment followed an annual frequency structure, with the record date set for August 6, 2026.

The last interest payment for this series was recorded on August 21, 2025. There were no delays or non-payment issues associated with this tranche.

Regulatory Compliance

The disclosure was made under Regulations 30 and 57 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references Chapter XI, Clause 2.2 of the SEBI Master Circular dated July 11, 2025, which mandates certificates regarding payment status within one working day of interest or principal becoming due.

Raj Gor, Group Head and Company Secretary, signed the intimation submitted to the BSE.

GIC Housing Finance reported a consolidated net profit of ₹100.8 crore for the first quarter ended June 30, 2026, reflecting an 81% decline from the ₹536.8 crore recorded in the preceding quarter. While revenue from operations held steady at ₹2,667.6 crore, representing a marginal 0.5% increase YoY, profitability was pressured by higher impairment charges on financial instruments.

The housing finance company's standalone net profit stood at ₹100.4 crore for the period, compared to ₹535.8 crore in the fourth quarter of FY26. Interest income remained robust at ₹2,643.0 crore, largely unchanged from the prior quarter's ₹2,690.6 crore. However, total expenses rose to ₹2,496.3 crore from ₹2,100.7 crore in the previous quarter, driven by impairment costs.

Financial performance overview

The table below captures key financial metrics across comparable periods:

Interest income contributed significantly to the top line, accounting for over 99% of total revenue from operations. Fees and commission income declined slightly to ₹98 crore from ₹162 crore in the previous quarter, though it remained comparable to the ₹99 crore recorded in Q1FY26.

What the numbers show

Impairment of financial instruments emerged as the primary drag on earnings, rising sharply to ₹324.9 crore in Q1FY27 from a negative provision release of ₹48.2 crore in Q4FY26. This reversal in provisioning behaviour accounts for the majority of the variance in operating expenses between the two quarters. Despite the spike in impairments, the company maintained a stable interest coverage profile, with finance costs holding at ₹1,729.8 crore, virtually unchanged from the ₹1,731.2 crore incurred in the same quarter last year.

Asset quality metrics indicated slight deterioration in non-performing assets. The gross Stage 3 ratio increased to 4.49% as of June 30, 2026, up from 3.96% at the end of FY26 and 4.74% in Q1FY26. The provision coverage ratio for these assets fell to 55.73% from 60.36% in the previous quarter. Meanwhile, the debt-equity ratio improved marginally to 4.29 times from 4.30 times.

Board approvals and corporate actions

During its meeting on August 12, 2026, the board approved several key administrative and strategic decisions:

• Appointment of Hitesh Joshi as Chairman of the Board. Joshi, a Fellow of the Insurance Institute of India, brings extensive experience from General Insurance Corporation of India and GIC-Re.
• Approval for the appointment of Arumugam Manimekhalai as an Additional Director (Non-Executive Independent Director) for a five-year term, subject to shareholder approval. She previously served as MD and CEO of Union Bank of India.
• Designation of Mahesh Matta, Senior Vice President, as Senior Management Personnel (Head-Treasury).
• Sanction for material related-party transactions with promoter group companies up to an aggregate limit of ₹1,000 crore, pending shareholder approval via postal ballot.

The trading window for designated persons will reopen on August 15, 2026, following the conclusion of the board meeting. The unaudited financial results were reviewed by statutory auditors Gokhale and Sathe.