Guidance ledger · Q3 FY26

Bajaj Housing Finance Ltd BAJAJHFL

3 revisions on record · 1 lowered · 1 raised — the strikethrough is what management used to say

gives specific guidance · shifted across quarters

Holding view → · latest concall · The pulse

→ narrowed FY26 NIM / NTI compression Q1 FY26 → Q3 FY26

~~15-20 bps drop (Q1FY26 initial guidance)~~ → 8-10 bps drop (Q3FY26 revised on better Q1-Q2 execution + Q3 assignment)

“I believe 8-10 basis points of compression would still happen on the NTI level for the full year”

↑ raised Sambhav SBU monthly run rate Q2 FY26 → Q3 FY26

~~INR250 cr/month (Q2FY26 disclosed for first time)~~ → INR325-350 cr/month current, INR600 cr/month target in 12-15 months

“As a company we are targeting Rs. 600 crore plus monthly disbursement run rate in next 12 to 15 months”

↓ lowered FY26 AUM growth guidance Q4 FY25 → Q1 FY26

~~24%-26% (medium-term unchanged at Q4FY25)~~ → 21%-23% (Q1FY26 cut)

“AUM growth assessment for FY '26 is expected to be in the range of 21%-23%”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.