Aadhar Housing Finance Limited , one of India's largest affordable housing finance companies, has successfully redeemed its Rs. 50 crore secured Non-Convertible Debentures (NCDs), leading to the withdrawal of credit rating by Brickwork Ratings India Private Limited. This development marks a significant milestone for the company in managing its debt obligations.

Key Details of the Redeemed NCDs

Rating Withdrawal Process

Brickwork Ratings has officially withdrawn the credit rating for these NCDs following their complete redemption. The rating agency cited the following reasons for the withdrawal:

1. Full redemption of the outstanding rated NCD on its maturity date
2. Request for rating withdrawal by Aadhar Housing Finance
3. Confirmation from the Debenture trustee regarding the full redemption

It's important to note that the rating withdrawal is in compliance with Brickwork Ratings' Rating Withdrawal Policy.

Company Profile and Market Presence

Aadhar Housing Finance Ltd (AHFL) continues to be a significant player in the affordable housing finance sector in India. The company's focus remains on serving the home financing needs of low-income segments. As of June 30, 2025, AHFL reported:

• Presence in 22 states and Union Territories
• Network of 602 branches/offices
• Approximately 306,000 live accounts

Implications for Investors and Market Observers

The successful redemption of these NCDs and the subsequent rating withdrawal reflect positively on Aadhar Housing Finance's financial management and ability to meet its debt obligations. For investors and market observers, this development underscores the company's commitment to maintaining a healthy financial profile.

As of the latest update, Aadhar Housing Finance does not have any instruments rated by Brickwork Ratings. This situation may provide the company with flexibility in its future financing strategies and potentially open up new avenues for capital raising.

The timely redemption of these NCDs aligns with the company's broader financial strategy and its focus on serving the affordable housing segment in India. As the demand for affordable housing continues to grow, Aadhar Housing Finance's strong market position and financial discipline position it well to capitalize on future opportunities in this sector.

Investors and stakeholders should continue to monitor Aadhar Housing Finance's financial performance and market activities for a comprehensive understanding of the company's trajectory in the dynamic housing finance landscape.

Aadhar Housing Finance Ltd , a leading player in India's low-income housing finance sector, has announced robust financial results for the second quarter and first half of fiscal year 2026, demonstrating strong growth across key metrics. The company has also reported no deviation in the utilization of its Initial Public Offering (IPO) proceeds.

Strong AUM and Profit Growth

The company reported a significant 21% year-on-year increase in Assets Under Management (AUM), reaching ₹27,554.00 crore as of September 30, 2025, up from ₹22,817.00 crore in the corresponding period last year. This growth underscores Aadhar Housing Finance's expanding presence in the affordable housing segment.

Profit After Tax (PAT) for H1 FY26 grew by 18% to ₹504.00 crore, compared to ₹428.00 crore in H1 FY25. The Q2 FY26 PAT stood at ₹266.00 crore, marking a 17% increase from ₹228.00 crore in Q2 FY25.

Key Financial Highlights

The company's total income for H1 FY26 increased by 18% to ₹1,751.00 crore, reflecting strong operational performance. Net worth stood at ₹6,894.00 crore as of September 30, 2025, showing a 17% growth from the previous year.

Stable Asset Quality and Returns

Aadhar Housing Finance maintained a stable asset quality with Gross Non-Performing Assets (GNPA) at 1.42% of AUM as of September 30, 2025, compared to 1.29% a year ago. The Return on Assets (ROA) for H1 FY26 remained steady at 4.2%, while the Return on Equity (ROE) was 15.1%, reflecting efficient capital utilization.

Expanding Customer Base

The company's total number of loan accounts reached over 3,15,000 by the end of September 2025, indicating its growing reach in the affordable housing finance segment.

IPO Proceeds Utilization

Aadhar Housing Finance Limited submitted its monitoring agency report for the quarter ended September 30, 2025, confirming no deviation in the utilization of proceeds from its Initial Public Offering. ICRA Limited, the monitoring agency, reported that the company's use of IPO funds remained aligned with stated objectives.

The company raised ₹1,000.00 crore through its IPO (excluding OFS portion) with net proceeds of ₹952.33 crore. Out of the total amount, ₹994.34 crore has been utilized as planned:

• ₹750.00 crore for meeting future capital requirements towards onward lending
• ₹202.33 crore for general corporate purposes (specifically repayment of indebtedness)
• ₹42.01 crore for issue-related expenses

The remaining unutilized amount of ₹5.66 crore consists of issue-related expenses, with ₹17.07 crore lying in the public offer account. The IPO was conducted from May 8-10, 2024, and all objects are reported to be on schedule for completion by FY25.

Management Commentary

Rishi Anand, MD & CEO of Aadhar Housing Finance Ltd, commented on the results: "We concluded the first half of FY26 on a strong note, driven by healthy operational performance and steady demand across the affordable housing finance segment. Our AUM stood at ₹27,554.00 crore, reflecting a year-on-year growth of 21%. Profit after Tax for H1 FY26 was ₹504.00 crore, marking a growth of 18% YoY."

Anand also highlighted the potential impact of recent policy changes, stating, "The recent GST rationalisation under the 'GST 2.0' framework is a timely and welcome reform for the affordable housing ecosystem. It is expected to have a positive cascading impact, making loan ticket sizes more affordable, improving credit demand quality, and furthering financial inclusion."

Future Outlook

The company remains optimistic about the sector's growth prospects, citing government initiatives such as PMAY-Urban 2.0 and Angikaar 2025, along with a stable macroeconomic environment. Aadhar Housing Finance is well-positioned to capture emerging opportunities while continuing to drive inclusive and sustainable growth in the low-income housing finance sector.

With its pan-India presence and a focus on the Economically Weaker Section (EWS) and Low Income Group (LIG) segments, particularly in semi-urban and rural areas, Aadhar Housing Finance aims to maintain its growth trajectory in the coming quarters.