Bajaj Housing Finance is scheduled to announce its results for the quarter and financial year ended on March 31, 2025 on Wednesday, April 23, 2025. Brokerage firms, tracking the stock, are expecting the Bajaj Group’s housing finance arm to report a strong growth on a year-on-year (YoY) basis, while quarter-on-quarter (QoQ) performance may remain muted.
Brokerages believe that Bajaj Housing may report a muted rise in net interest income (NIIs) and pre-provisioning operating profit (PPOP) on a sequential basis, but yearly growth may remain stellar. Net interest margin (NIMs) may contract marginally on a quarterly comparison. Fundamental analysts have a mixed view on the stock, with technical ones seeing a decent upside in it.
Kotak Institutional Equities is expecting Bajaj Housing Finance to report a 34.4 per cent YoY rise in NIIs at Rs 844.4 crore, while PPOP may rise 45.5 per cent YoY to Rs 761.1 crore. However sequential growth may remain in single digits. Net profit may rally 60.7 per cent YoY and 11.8 per cent QoQ to Rs 612.8 crore. MINs may contract marginally on a sequential basis.
“Bajaj Housing will likely report 5.6 per cent QoQ AUM growth in 4QFY25 in line 5.6-6.3 per cent reported in the previous four quarters. NIM will likely remain stable QoQ to 3.4 per cent as cost of borrowing peaks out. We expect cost-to-average AUM ratio to remain moderate at 3.9 per cent. We pen down credit costs to 1.9 per cent for 4QFY25,” said Kotak with a target price of Rs 100 and ‘reduce’ rating.
Philip Capital is expecting NBFCs AUM growth at 19 per cent/20 per cent for FY26/27 versus 21 per cent in FY25 with growth largely led by Bajaj Housing Finance with 31 per cent growth in FY26-27. It has a ‘buy’ rating on the stock with a target price of Rs 140.
Goldman Sachs is penciling Bajaj Housing’s loan growth at 26 per cent in Q4FY25, with NIMs and PPOP-to-RoA ratio contracting marginally to 3.32 per cent and 3.09 per cent, respectively. However, its PPOP may increase 50 per cent YoY with 2.22 per cent RoA, it said. However, Goldman Sachs has a ‘sell’ rating on Bajaj Housing Finance with a target price of Rs 83.
Ahead of its results, shares of Bajaj Housing Finance dropped about 3.2 per cent on Wednesday from day’s high at Rs 132.50 to Rs 128.30, with its total market capitalization slipping below Rs 1.10 lakh crore mark. The stock had settled at Rs 131.20 on Tuesday, while it has tanked more than 31 per cent from its 52-week high at Rs 188.45 hit in September 2024.
Bajaj Housing Finance has formed a higher top and a higher bottom, which confirms a short-term trend reversal. It has also confirmed a rounding bottom formation at Rs 128 levels on a closing basis. This breakout is accompanied by huge volume, indicating increased participation, said Rajesh Palviya, SVP – Technical and Derivatives Research at Axis Securities.
“The stock is well paced above its 20,50, and 100 SMA, which reconfirms a bullish trend. The daily and weekly strength indicator, RSI, is in positive territory, quoting above its reference line, indicating sustained strength. Traders and investors are advised to buy and accumulate it, which has an expected upside of Rs 145-150. The short-term support zone is around Rs 124-120,” he said.
Bajaj Housing Finance raised a total of Rs 6,560 crore via IPO by selling its shares for Rs 70 apiece in September 2024, which saw a blockbuster response from the investors, fetching bids for Rs 3.23 lakh crore. The stock is currently trading nearly 90 per cent higher from its IPO price.
As seen in the above charts recently the stock crossed the intermediate high of Rs 128 and reached a high of Rs 131. The stock has given a Channel breakout post consolidation zone forming higher bottoms at Rs 105 & Rs 109 the stock is trading above all averages after a long time, said Ventura Securities.
“Indicators like MACD & ADX suggest a firm positive Uptrend. Target of Rs 170 is expected & further addition is suggested at lower support levels at Rs 124-120-117-113-111 in case of intermediate fall. Stop loss in the trade should be kept at Rs 108,” it said.
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