| Results date | October 27, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 538.01 Cr (revenue from operations, Q1 FY27) |
| Previous quarter PAT | Rs. 159.85 Cr (Q1 FY27) |
| Previous quarter NIM | 6.0% (Q1 FY27) |
| Market cap | Rs. 10,689.83 Cr |
| CMP | Rs. 1,021.3 |
Per the October 20, 2026 board meeting intimation, the board will meet on Tuesday, October 27, 2026, to approve the reviewed financial results for the quarter and half year ended September 30, 2026. The trading window for designated persons is closed from October 1, 2026 until 48 hours after results declaration.
A conference call on the reviewed Q2/H1 FY27 results is scheduled for Wednesday, October 28, 2026, at 4:00 PM IST. Speakers include MD & CEO Manoj Viswanathan, Dy. CEO & CBO Ajay Khetan, and Head-Treasury & IR Sunil Anjana.
The quarter tests whether HomeFirst can hold its guided ~25% FY27 AUM growth and 5%-5.25% spread (IGAAP, ex-co-lending) against a firming funding-cost backdrop, after Q1 FY27 delivered AUM of Rs. 16,938 Cr (+25.7% YoY) and disbursement of Rs. 1,628 Cr (+31.0% YoY). The demand backdrop firmed through the quarter: NHB RESIDEX 50-city composite HPI rose +7.0% YoY in Apr-Jun 2026 (up from +4.5% YoY in the prior quarter), and RBI sectoral data showed NBFC/HFC credit growth of +15.8% YoY in August 2026 with housing loans accelerating. On funding, repo was held at 5.25% through the quarter, but the 10-year G-sec yield closed at 7.05% on September 21, 2026 vs 6.84% end-July, market yields rose ~20-90 bps since June 2026, and one-year MCLR is up ~30 bps since March 2026 — against a fully floating book that passes borrowing-cost changes to customers, with Q1 COB at 7.8% and finance costs +6.72% QoQ. Credit cost sat at 40 bps in Q1, the top of the guided 30-40 bps band, with collection efficiency down ~50-60 bps YoY, and the tariff-affected pockets of Tirupur and Surat remain localized watch items as the India-US trade deal arc moved toward de-escalation through October. Opex-to-assets ran at 2.8% in Q1, above the guided 2.6%-2.7% range, making cost discipline the guided number most at risk, while the CFO seat is vacant after Nutan Gaba Patwari's exit effective August 31, 2026. The October 28 call is likely to cover the spread/NIM bridge, credit-cost direction, the Rs. 20,000 Cr AUM-by-March-2027 milestone, and CFO succession.
Performance vs guidance tracking: Management's stated FY27 targets and where Q1 FY27 landed:
Asset quality and credit cost direction
CFO succession and cost discipline
Operating metric trajectory
Strategic execution updates
Management said the fully floating book passes borrowing-cost changes to customers, and some improvement was passed through, causing a small yield reduction over two quarters. It reiterated its commitment to a spread of approximately 5% to 5.25%.
Management said Q1 FY27 disbursement growth was roughly 50% from units and 50% from ticket size. The company is also targeting customers in the Rs. 25-50 lakh range who struggle with bank documentation.
Management said 30% CAGR was achieved between March 2023 and March 2026 but that it is difficult to commit to maintaining that 30% rate in the current environment, guiding instead to around 25% year-on-year AUM growth.
Q1 FY27 delivered 25.7% AUM growth against the ~25% FY27 guidance, and management said it remains confident of delivering 25% AUM growth. The Rs. 20,000 Cr AUM milestone by March 2027 may be missed by 1-2 months per management's own framing.
Revenue from operations rose to Rs. 538.01 Cr in Q1 FY27 from Rs. 453.61 Cr in the comparative quarter, with total income of Rs. 539.84 Cr (+18.6% YoY per the press release). Growth was supported by AUM of Rs. 16,938 Cr (+25.7% YoY) and disbursement of Rs. 1,628 Cr (+31.0% YoY).