Bajaj Housing Finance Q2 Updates: AUM Jumps 26% To Cross Rs 1-Lakh-Crore Mark

The assets under management of Bajaj Housing Finance Ltd. jumped 26% year-on-year to cross the Rs 1-lakh-crore mark in the quarter ended September 2024, as per the provisional data shared by the company on Thursday.

The AUM at the end of the second quarter of this fiscal stood at Rs 1.02 lakh crore, as compared to Rs 81,215 crore as of Sept. 30, 2023.

In the June-September period of this year, the AUM grew by approximately Rs 5,480 crore, Bajaj Housing Finance said in an exchange filing. This is in line with the previous two quarters' growth, it added.

The company's loan assets stood at around Rs 89,860 crore at the end of the September quarter, marking a jump of 26.6% from Rs 70,954 crore in the year-ago period.

Bajaj Housing Finance, the property loan arm of Bajaj Finance, recently listed on the bourses. The company made its market debut on Sept. 16 at a premium of 114% against the initial public offering price.

The IPO was launched to raise Rs 3,560 crore through a fresh issue of equity shares. It also involved an offer-for-sale component, which was used by Bajaj Finance to offload stake worth Rs 3,000 crore.

As of June 30, the housing finance entity had an extensive distribution network of 215 branches. The company primarily focusses on providing mortgage loans to upper-end individual homebuyers as well as large-scale developers in India.

Shares of Bajaj Housing Finance on Thursday closed 1.52% lower at Rs 150.6 apiece on the NSE, compared to a 2.12% decline in the benchmark Nifty 50.

Since its listing, the stock has more than doubled as compared to the IPO price of Rs 70 per share. The only analyst tracking the company has a "buy" rating on the stock, as per Bloomberg data.