Bajaj Housing share price targets amid 6% rally post Q3 results
MOFSL said Bajaj Housing is a strong franchise, well-positioned to handle rising competition and a declining interest rate environment while maintaining healthy growth and profitability.
- Feb 3, 2026,
- Updated Feb 3, 2026 1:17 PM IST
Bajaj Housing Finance Ltd saw its shares rising 6 per cent in Tuesday's trade after the housing finance company (HFC) delivered a healthy performance in the December quarter, led by AUM and disbursement growth across products. Analysts said the HFC was successful in maintaining its margins, despite a declining interest rate environment, while maintaining pristine asset quality. That said, they are mixed over the stock's valuations.
By 1.13 pm, the stock climbed 5.76 per cent to hit a high of Rs 94.80 on BSE.
ICICI Securities said while Bajaj Housing's focus remains on outpacing industry growth, 14–16 per cent CAGR till FY28, it emphasised on operating efficiency and credit quality.
"The company expects opex to NTI to moderate to 14–15 per cent over the medium term from its current level of 20 per cent. We are building in RoA of 2.3 per cent and RoE of 13–14 per cent for FY27E/FY28E, respectively. Maintain BUY with an unchanged target price of Rs 125, valuing the stock at 4x FY27E P/B," ICICI Securities said.
Bajaj Housing Finance reported a 21 per cent rise in Q3 net profit at Rs 664 crore in Q3 compared with Rs 548.02 crore in the year ago quarter. Net interest income rose 19 per cent to Rs 963 crore in Q3 from Rs 806 crore in Q3FY25. Assets under management (AUM) came at Rs 1,33.412 crore, rising 23 per cent, as of December 31, 2025, from Rs 108,314 crore as of December 31, 2024.
MOFSL said Bajaj Housing is a strong franchise, well-positioned to handle rising competition and a declining interest rate environment while maintaining healthy growth and profitability. However, the current valuation of 2.9x FY27E already reflects its medium-term growth potential and profitability. This brokerage maintained 'Neutral' rating on the stock with a target of Rs 100," it said.
MOFSL said key risks include slowdown in the overall growth and demand environment, inability to drive NIM expansion amid competitive pricing and deterioration in the asset quality while scaling up the non-prime segments.
Bajaj Housing Finance Ltd saw its shares rising 6 per cent in Tuesday's trade after the housing finance company (HFC) delivered a healthy performance in the December quarter, led by AUM and disbursement growth across products. Analysts said the HFC was successful in maintaining its margins, despite a declining interest rate environment, while maintaining pristine asset quality. That said, they are mixed over the stock's valuations.
By 1.13 pm, the stock climbed 5.76 per cent to hit a high of Rs 94.80 on BSE.
ICICI Securities said while Bajaj Housing's focus remains on outpacing industry growth, 14–16 per cent CAGR till FY28, it emphasised on operating efficiency and credit quality.
"The company expects opex to NTI to moderate to 14–15 per cent over the medium term from its current level of 20 per cent. We are building in RoA of 2.3 per cent and RoE of 13–14 per cent for FY27E/FY28E, respectively. Maintain BUY with an unchanged target price of Rs 125, valuing the stock at 4x FY27E P/B," ICICI Securities said.
Bajaj Housing Finance reported a 21 per cent rise in Q3 net profit at Rs 664 crore in Q3 compared with Rs 548.02 crore in the year ago quarter. Net interest income rose 19 per cent to Rs 963 crore in Q3 from Rs 806 crore in Q3FY25. Assets under management (AUM) came at Rs 1,33.412 crore, rising 23 per cent, as of December 31, 2025, from Rs 108,314 crore as of December 31, 2024.
MOFSL said Bajaj Housing is a strong franchise, well-positioned to handle rising competition and a declining interest rate environment while maintaining healthy growth and profitability. However, the current valuation of 2.9x FY27E already reflects its medium-term growth potential and profitability. This brokerage maintained 'Neutral' rating on the stock with a target of Rs 100," it said.
MOFSL said key risks include slowdown in the overall growth and demand environment, inability to drive NIM expansion amid competitive pricing and deterioration in the asset quality while scaling up the non-prime segments.