# Finance - Housing — company-by-company sector analysis

> Finance - Housing: LIC Housing Finance Ltd owns the largest revenue base; India Shelter Finance Corporation Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-29. Not investment advice.

## Bottom line

Finance - Housing has underperformed NIFTY 500 by 9.3% over 52 weeks and 2.1% over 13 weeks. 4 of 13 covered companies beat NIFTY on Mansfield relative strength, while 7 of 13 beat the sector itself. LIC Housing Finance Ltd leads with income of ₹28,847 crore, based on 13 of 13 comparable companies through Mar 2026.

### Is the Finance - Housing sector outperforming NIFTY 500?

Finance - Housing has underperformed NIFTY 500 by 9.3% over 52 weeks and 2.1% over 13 weeks. 4 of 13 covered companies beat NIFTY on Mansfield relative strength, while 7 of 13 beat the sector itself.

### Which Finance - Housing company is largest by income?

LIC Housing Finance Ltd leads with income of ₹28,847 crore, based on 13 of 13 comparable companies through Mar 2026.

### Which Finance - Housing company is growing fastest?

India Shelter Finance Corporation Ltd has the fastest current income growth at 31.1%, across 13 of 13 comparable companies.

### Which Finance - Housing company has the strongest 4-Factor Sector Score?

Can Fin Homes Ltd ranks first at 71.2/100 with 87% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Finance - Housing company has the largest deposit base?

PNB Housing Finance Ltd has the largest reported deposit base at ₹18,055 crore. Bank borrowings are operating funding, not industrial leverage.

### Which Finance - Housing company has the lowest comparable P/BV-to-ROE?

GIC Housing Finance Ltd has the lowest comparable P/BV ÷ ROE at 0.05, among 12 of 13 companies that pass the metric’s comparability rules.

### How much history does this Finance - Housing comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Finance - Housing has underperformed NIFTY 500 by 9.3% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 2.1%. 4 of 13 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Can Fin Homes Ltd is the strongest against the sector itself at +18.7%.

13-week sector return versus NIFTY 500: -2.1%
52-week sector return versus NIFTY 500: -9.3%
Stocks leading NIFTY: 4/13
Stocks leading sector: 7/13

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 13
Combined market value: ₹2.7 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Can Fin Homes Ltd (CANFINHOME): 71/100 — Favorable setup; evidence 87%
   - Growth & earnings 25.8/35 | Capital efficiency 16.5/25 | Valuation 15.3/20 | Relative strength 13.6/20
   - Exact sum: 25.8 + 16.5 + 15.3 + 13.6 = 71.2
   - Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2. PNB Housing Finance Ltd (PNBHOUSING): 66/100 — Favorable setup; evidence 96%
   - Growth & earnings 20.4/35 | Capital efficiency 16.3/25 | Valuation 11.2/20 | Relative strength 17.9/20
   - Exact sum: 20.4 + 16.3 + 11.2 + 17.9 = 65.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Aptus Value Housing Finance India Ltd (APTUS): 66/100 — Favorable setup; evidence 87%
   - Growth & earnings 21.5/35 | Capital efficiency 19.4/25 | Valuation 10.6/20 | Relative strength 14.2/20
   - Exact sum: 21.5 + 19.4 + 10.6 + 14.2 = 65.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Housing & Urban Development Corporation Ltd (HUDCO): 61/100 — Mixed-positive evidence; evidence 84%
   - Growth & earnings 27.1/35 | Capital efficiency 17.3/25 | Valuation 12.3/20 | Relative strength 3.8/20
   - Exact sum: 27.1 + 17.3 + 12.3 + 3.8 = 60.5
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -4.9% and the one-year return is -13.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
5. Aadhar Housing Finance Ltd (AADHARHFC): 59/100 — Mixed-positive evidence; evidence 90%
   - Growth & earnings 20.9/35 | Capital efficiency 19.0/25 | Valuation 7.8/20 | Relative strength 11.7/20
   - Exact sum: 20.9 + 19 + 7.8 + 11.7 = 59.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Home First Finance Company India Ltd (HOMEFIRST): 57/100 — Mixed-positive evidence; evidence 90%
   - Growth & earnings 23.0/35 | Capital efficiency 15.4/25 | Valuation 9.0/20 | Relative strength 9.1/20
   - Exact sum: 23 + 15.4 + 9 + 9.1 = 56.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7. India Shelter Finance Corporation Ltd (INDIASHLTR): 56/100 — Mixed-positive evidence; evidence 87%
   - Growth & earnings 24.4/35 | Capital efficiency 18.9/25 | Valuation 11.0/20 | Relative strength 1.2/20
   - Exact sum: 24.4 + 18.9 + 11 + 1.2 = 55.5
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -10.2% and the one-year return is -25.7%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
8. Repco Home Finance Ltd (REPCOHOME): 54/100 — Mixed-positive evidence; evidence 72%
   - Growth & earnings 9.5/35 | Capital efficiency 14.2/25 | Valuation 16.8/20 | Relative strength 13.8/20
   - Exact sum: 9.5 + 14.2 + 16.8 + 13.8 = 54.3
   - Decision use: Price leads the evidence: RS versus the benchmark is -0.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
9. LIC Housing Finance Ltd (LICHSGFIN): 52/100 — Mixed-positive evidence; evidence 84%
   - Growth & earnings 10.3/35 | Capital efficiency 12.8/25 | Valuation 18.5/20 | Relative strength 10.0/20
   - Exact sum: 10.3 + 12.8 + 18.5 + 10 = 51.6
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
10. AAVAS Financiers Ltd (AAVAS): 48/100 — Mixed-negative evidence; evidence 89%
   - Growth & earnings 19.7/35 | Capital efficiency 17.3/25 | Valuation 6.8/20 | Relative strength 4.1/20
   - Exact sum: 19.7 + 17.3 + 6.8 + 4.1 = 47.9
   - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
11. Bajaj Housing Finance Ltd (BAJAJHFL): 42/100 — Mixed-negative evidence; evidence 90%
   - Growth & earnings 18.3/35 | Capital efficiency 15.0/25 | Valuation 4.3/20 | Relative strength 4.2/20
   - Exact sum: 18.3 + 15 + 4.3 + 4.2 = 41.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12. Sammaan Capital Ltd (SAMMAANCAP): 40/100 — Mixed-negative evidence; evidence 71%
   - Growth & earnings 8.1/35 | Capital efficiency 4.0/25 | Valuation 9.8/20 | Relative strength 17.6/20
   - Exact sum: 8.1 + 4 + 9.8 + 17.6 = 39.5
   - Decision use: Price leads the evidence: RS versus the benchmark is 6.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
13. GIC Housing Finance Ltd (GICHSGFIN): 30/100 — Adverse evidence; evidence 76%
   - Growth & earnings 8.0/35 | Capital efficiency 8.5/25 | Valuation 8.0/20 | Relative strength 5.0/20
   - Exact sum: 8 + 8.5 + 8 + 5 = 29.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Income Scale & Growth Durability

What the numbers say: LIC Housing Finance Ltd is the scale leader at ₹28,847 crore, 119.4% ahead of Housing & Urban Development Corporation Ltd. India Shelter Finance Corporation Ltd's growth is 31.1% from a ₹1,528 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: LIC Housing Finance Ltd is the scale benchmark; India Shelter Finance Corporation Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: LIC Housing Finance Ltd's growth falls below India Shelter Finance Corporation Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: LIC Housing Finance Ltd · ₹28,847 crore | 119.4% versus #2 · Housing & Urban Development Corporation Ltd | 7/8 recent comparable periods | 13/13 companies · 232 observations

Definition: For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

### Income — largest
1. LIC Housing Finance Ltd (LICHSGFIN): ₹28.8K Cr
2. Housing & Urban Development Corporation Ltd (HUDCO): ₹13.2K Cr
3. Bajaj Housing Finance Ltd (BAJAJHFL): ₹11.2K Cr
4. PNB Housing Finance Ltd (PNBHOUSING): ₹8.5K Cr
5. Sammaan Capital Ltd (SAMMAANCAP): ₹8.2K Cr

### Income growth — fastest growers
1. India Shelter Finance Corporation Ltd (INDIASHLTR): 31%
2. Housing & Urban Development Corporation Ltd (HUDCO): 28%
3. AAVAS Financiers Ltd (AAVAS): 25%
4. Aptus Value Housing Finance India Ltd (APTUS): 25%
5. Home First Finance Company India Ltd (HOMEFIRST): 25%

### 20-quarter Income history
- BAJAJHFL: Sep 2021 ₹902 Cr | Dec 2021 ₹986 Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹1.8K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹2.0K Cr | Jun 2024 ₹2.2K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹2.4K Cr | Mar 2025 ₹2.5K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹2.9K Cr | Mar 2026 ₹2.9K Cr | Jun 2026 —
- HUDCO: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹1.7K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹1.8K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹2.2K Cr | Sep 2024 ₹2.5K Cr | Dec 2024 ₹2.8K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹2.9K Cr | Sep 2025 ₹3.2K Cr | Dec 2025 ₹3.4K Cr | Mar 2026 ₹3.6K Cr | Jun 2026 —
- LICHSGFIN: Sep 2021 ₹4.7K Cr | Dec 2021 ₹5.1K Cr | Mar 2022 ₹5.3K Cr | Jun 2022 ₹5.3K Cr | Sep 2022 ₹5.1K Cr | Dec 2022 ₹5.9K Cr | Mar 2023 ₹6.4K Cr | Jun 2023 ₹6.8K Cr | Sep 2023 ₹6.8K Cr | Dec 2023 ₹6.8K Cr | Mar 2024 ₹6.9K Cr | Jun 2024 ₹6.8K Cr | Sep 2024 ₹6.9K Cr | Dec 2024 ₹7.1K Cr | Mar 2025 ₹7.3K Cr | Jun 2025 ₹7.3K Cr | Sep 2025 ₹7.2K Cr | Dec 2025 ₹7.2K Cr | Mar 2026 ₹7.2K Cr | Jun 2026 —
- PNBHOUSING: Sep 2021 ₹1.6K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.8K Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹1.8K Cr | Mar 2024 ₹1.8K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹1.9K Cr | Mar 2025 ₹2.0K Cr | Jun 2025 ₹2.1K Cr | Sep 2025 ₹2.1K Cr | Dec 2025 ₹2.1K Cr | Mar 2026 ₹2.2K Cr | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 ₹452 Cr | Jun 2022 ₹475 Cr | Sep 2022 ₹475 Cr | Dec 2022 ₹547 Cr | Mar 2023 ₹555 Cr | Jun 2023 ₹593 Cr | Sep 2023 ₹629 Cr | Dec 2023 ₹673 Cr | Mar 2024 ₹692 Cr | Jun 2024 ₹713 Cr | Sep 2024 ₹764 Cr | Dec 2024 ₹798 Cr | Mar 2025 ₹833 Cr | Jun 2025 ₹848 Cr | Sep 2025 ₹897 Cr | Dec 2025 ₹943 Cr | Mar 2026 ₹985 Cr | Jun 2026 —
- SAMMAANCAP: Sep 2021 ₹2.2K Cr | Dec 2021 ₹2.3K Cr | Mar 2022 ₹2.2K Cr | Jun 2022 ₹2.1K Cr | Sep 2022 ₹2.2K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹2.1K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹2.2K Cr | Dec 2023 ₹2.1K Cr | Mar 2024 ₹2.2K Cr | Jun 2024 ₹2.2K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹2.1K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹2.2K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹286 Cr | Mar 2023 ₹299 Cr | Jun 2023 ₹306 Cr | Sep 2023 ₹334 Cr | Dec 2023 ₹351 Cr | Mar 2024 ₹375 Cr | Jun 2024 ₹395 Cr | Sep 2024 ₹421 Cr | Dec 2024 ₹450 Cr | Mar 2025 ₹484 Cr | Jun 2025 ₹520 Cr | Sep 2025 ₹544 Cr | Dec 2025 ₹554 Cr | Mar 2026 ₹574 Cr | Jun 2026 —
- HOMEFIRST: Sep 2021 ₹146 Cr | Dec 2021 ₹152 Cr | Mar 2022 ₹156 Cr | Jun 2022 ₹169 Cr | Sep 2022 ₹189 Cr | Dec 2022 ₹205 Cr | Mar 2023 ₹227 Cr | Jun 2023 ₹255 Cr | Sep 2023 ₹273 Cr | Dec 2023 ₹296 Cr | Mar 2024 ₹313 Cr | Jun 2024 ₹336 Cr | Sep 2024 ₹373 Cr | Dec 2024 ₹406 Cr | Mar 2025 ₹415 Cr | Jun 2025 ₹454 Cr | Sep 2025 ₹477 Cr | Dec 2025 ₹482 Cr | Mar 2026 ₹501 Cr | Jun 2026 —
- AAVAS: Sep 2021 ₹325 Cr | Dec 2021 ₹343 Cr | Mar 2022 ₹365 Cr | Jun 2022 ₹353 Cr | Sep 2022 ₹395 Cr | Dec 2022 ₹411 Cr | Mar 2023 ₹450 Cr | Jun 2023 ₹467 Cr | Sep 2023 ₹497 Cr | Dec 2023 ₹508 Cr | Mar 2024 ₹546 Cr | Jun 2024 ₹543 Cr | Sep 2024 ₹580 Cr | Dec 2024 ₹598 Cr | Mar 2025 ₹637 Cr | Jun 2025 ₹628 Cr | Sep 2025 ₹667 Cr | Dec 2025 ₹675 Cr | Mar 2026 ₹715 Cr | Jun 2026 ₹709 Cr
- CANFINHOME: Sep 2021 ₹468 Cr | Dec 2021 ₹508 Cr | Mar 2022 ₹561 Cr | Jun 2022 ₹612 Cr | Sep 2022 ₹658 Cr | Dec 2022 ₹710 Cr | Mar 2023 ₹764 Cr | Jun 2023 ₹824 Cr | Sep 2023 ₹871 Cr | Dec 2023 ₹901 Cr | Mar 2024 ₹927 Cr | Jun 2024 ₹931 Cr | Sep 2024 ₹962 Cr | Dec 2024 ₹986 Cr | Mar 2025 ₹999 Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 ₹1.1K Cr
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹150 Cr | Mar 2023 ₹170 Cr | Jun 2023 ₹182 Cr | Sep 2023 ₹204 Cr | Dec 2023 ₹209 Cr | Mar 2024 ₹235 Cr | Jun 2024 ₹252 Cr | Sep 2024 ₹283 Cr | Dec 2024 ₹304 Cr | Mar 2025 ₹327 Cr | Jun 2025 ₹361 Cr | Sep 2025 ₹369 Cr | Dec 2025 ₹390 Cr | Mar 2026 ₹408 Cr | Jun 2026 —
- REPCOHOME: Sep 2021 ₹335 Cr | Dec 2021 ₹325 Cr | Mar 2022 ₹324 Cr | Jun 2022 ₹307 Cr | Sep 2022 ₹318 Cr | Dec 2022 ₹327 Cr | Mar 2023 ₹340 Cr | Jun 2023 ₹364 Cr | Sep 2023 ₹380 Cr | Dec 2023 ₹387 Cr | Mar 2024 ₹393 Cr | Jun 2024 ₹408 Cr | Sep 2024 ₹423 Cr | Dec 2024 ₹445 Cr | Mar 2025 ₹426 Cr | Jun 2025 ₹440 Cr | Sep 2025 ₹441 Cr | Dec 2025 ₹457 Cr | Mar 2026 ₹454 Cr | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹281 Cr | Mar 2023 ₹281 Cr | Jun 2023 ₹268 Cr | Sep 2023 ₹268 Cr | Dec 2023 ₹261 Cr | Mar 2024 ₹260 Cr | Jun 2024 ₹274 Cr | Sep 2024 ₹264 Cr | Dec 2024 ₹269 Cr | Mar 2025 ₹272 Cr | Jun 2025 ₹265 Cr | Sep 2025 ₹272 Cr | Dec 2025 ₹273 Cr | Mar 2026 ₹273 Cr | Jun 2026 —

### 20-quarter Income growth history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 49% | Sep 2022 49% | Dec 2022 54% | Mar 2023 50% | Jun 2023 44% | Sep 2023 43% | Dec 2023 28% | Mar 2024 26% | Jun 2024 25% | Sep 2024 26% | Dec 2024 26% | Mar 2025 25% | Jun 2025 18% | Sep 2025 14% | Dec 2025 18% | Mar 2026 16% | Jun 2026 —
- HUDCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -2.3% | Sep 2022 0.1% | Dec 2022 0.1% | Mar 2023 6.2% | Jun 2023 4.9% | Sep 2023 6.8% | Dec 2023 18% | Mar 2024 12% | Jun 2024 19% | Sep 2024 35% | Dec 2024 37% | Mar 2025 38% | Jun 2025 34% | Sep 2025 28% | Dec 2025 24% | Mar 2026 25% | Jun 2026 —
- LICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 9.0% | Sep 2022 8.0% | Dec 2022 16% | Mar 2023 21% | Jun 2023 27% | Sep 2023 33% | Dec 2023 16% | Mar 2024 8.0% | Jun 2024 0.6% | Sep 2024 2.6% | Dec 2024 3.9% | Mar 2025 5.1% | Jun 2025 6.7% | Sep 2025 3.5% | Dec 2025 1.9% | Mar 2026 -1.3% | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -17% | Sep 2022 6.1% | Dec 2022 20% | Mar 2023 15% | Jun 2023 21% | Sep 2023 5.6% | Dec 2023 -2.3% | Mar 2024 11% | Jun 2024 6.7% | Sep 2024 5.7% | Dec 2024 11% | Mar 2025 12% | Jun 2025 14% | Sep 2025 13% | Dec 2025 9.1% | Mar 2026 7.9% | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 9.4% | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 23% | Jun 2023 25% | Sep 2023 32% | Dec 2023 23% | Mar 2024 25% | Jun 2024 20% | Sep 2024 21% | Dec 2024 19% | Mar 2025 20% | Jun 2025 19% | Sep 2025 17% | Dec 2025 18% | Mar 2026 18% | Jun 2026 —
- SAMMAANCAP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -11% | Sep 2022 -0.1% | Dec 2022 2.7% | Mar 2023 -3.8% | Jun 2023 -8.6% | Sep 2023 -0.2% | Dec 2023 -8.4% | Mar 2024 6.3% | Jun 2024 16% | Sep 2024 8.8% | Dec 2024 -5.9% | Mar 2025 -4.4% | Jun 2025 8.7% | Sep 2025 -7.1% | Dec 2025 7.0% | Mar 2026 -36% | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 23% | Mar 2024 25% | Jun 2024 29% | Sep 2024 26% | Dec 2024 28% | Mar 2025 29% | Jun 2025 32% | Sep 2025 29% | Dec 2025 23% | Mar 2026 19% | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 29% | Dec 2022 35% | Mar 2023 46% | Jun 2023 51% | Sep 2023 44% | Dec 2023 44% | Mar 2024 38% | Jun 2024 32% | Sep 2024 37% | Dec 2024 37% | Mar 2025 33% | Jun 2025 35% | Sep 2025 28% | Dec 2025 19% | Mar 2026 21% | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 — | Mar 2022 26% | Jun 2022 30% | Sep 2022 22% | Dec 2022 20% | Mar 2023 23% | Jun 2023 32% | Sep 2023 26% | Dec 2023 24% | Mar 2024 21% | Jun 2024 16% | Sep 2024 17% | Dec 2024 18% | Mar 2025 17% | Jun 2025 16% | Sep 2025 15% | Dec 2025 13% | Mar 2026 12% | Jun 2026 13%
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 41% | Dec 2022 40% | Mar 2023 36% | Jun 2023 35% | Sep 2023 32% | Dec 2023 27% | Mar 2024 21% | Jun 2024 13% | Sep 2024 10% | Dec 2024 9.4% | Mar 2025 7.8% | Jun 2025 9.6% | Sep 2025 9.0% | Dec 2025 8.8% | Mar 2026 7.5% | Jun 2026 7.5%
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 39% | Mar 2024 38% | Jun 2024 38% | Sep 2024 39% | Dec 2024 45% | Mar 2025 39% | Jun 2025 43% | Sep 2025 30% | Dec 2025 28% | Mar 2026 25% | Jun 2026 —
- REPCOHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -4.7% | Sep 2022 -5.1% | Dec 2022 0.6% | Mar 2023 4.9% | Jun 2023 19% | Sep 2023 20% | Dec 2023 18% | Mar 2024 16% | Jun 2024 12% | Sep 2024 11% | Dec 2024 15% | Mar 2025 8.4% | Jun 2025 7.8% | Sep 2025 4.3% | Dec 2025 2.7% | Mar 2026 6.6% | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -7.1% | Mar 2024 -7.5% | Jun 2024 2.2% | Sep 2024 -1.5% | Dec 2024 3.1% | Mar 2025 4.6% | Jun 2025 -3.3% | Sep 2025 3.0% | Dec 2025 1.5% | Mar 2026 0.4% | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: LIC Housing Finance Ltd leads with ₹5,604 crore of TTM profit, 38.9% above Housing & Urban Development Corporation Ltd. Housing & Urban Development Corporation Ltd shows 48.9% growth from a ₹4,034 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: LIC Housing Finance Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: LIC Housing Finance Ltd · ₹5,604 crore | 38.9% versus #2 · Housing & Urban Development Corporation Ltd | 6/8 recent comparable periods | 13/13 companies · 232 observations

Definition: Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

### Net profit — largest
1. LIC Housing Finance Ltd (LICHSGFIN): ₹5.6K Cr
2. Housing & Urban Development Corporation Ltd (HUDCO): ₹4.0K Cr
3. Bajaj Housing Finance Ltd (BAJAJHFL): ₹2.6K Cr
4. PNB Housing Finance Ltd (PNBHOUSING): ₹2.3K Cr
5. Can Fin Homes Ltd (CANFINHOME): ₹1.1K Cr

### Profit growth — fastest growers
1. Housing & Urban Development Corporation Ltd (HUDCO): 49%
2. Home First Finance Company India Ltd (HOMEFIRST): 41%
3. India Shelter Finance Corporation Ltd (INDIASHLTR): 33%
4. Can Fin Homes Ltd (CANFINHOME): 28%
5. Aptus Value Housing Finance India Ltd (APTUS): 26%

### 20-quarter Net profit history
- BAJAJHFL: Sep 2021 ₹166 Cr | Dec 2021 ₹185 Cr | Mar 2022 ₹198 Cr | Jun 2022 ₹316 Cr | Sep 2022 ₹306 Cr | Dec 2022 ₹334 Cr | Mar 2023 ₹301 Cr | Jun 2023 ₹462 Cr | Sep 2023 ₹451 Cr | Dec 2023 ₹437 Cr | Mar 2024 ₹381 Cr | Jun 2024 ₹483 Cr | Sep 2024 ₹546 Cr | Dec 2024 ₹548 Cr | Mar 2025 ₹587 Cr | Jun 2025 ₹583 Cr | Sep 2025 ₹643 Cr | Dec 2025 ₹665 Cr | Mar 2026 ₹669 Cr | Jun 2026 —
- HUDCO: Sep 2021 ₹370 Cr | Dec 2021 ₹195 Cr | Mar 2022 ₹747 Cr | Jun 2022 ₹412 Cr | Sep 2022 ₹396 Cr | Dec 2022 ₹254 Cr | Mar 2023 ₹639 Cr | Jun 2023 ₹446 Cr | Sep 2023 ₹452 Cr | Dec 2023 ₹519 Cr | Mar 2024 ₹700 Cr | Jun 2024 ₹558 Cr | Sep 2024 ₹689 Cr | Dec 2024 ₹735 Cr | Mar 2025 ₹728 Cr | Jun 2025 ₹630 Cr | Sep 2025 ₹710 Cr | Dec 2025 ₹713 Cr | Mar 2026 ₹2.0K Cr | Jun 2026 —
- LICHSGFIN: Sep 2021 ₹250 Cr | Dec 2021 ₹771 Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹927 Cr | Sep 2022 ₹311 Cr | Dec 2022 ₹462 Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 —
- PNBHOUSING: Sep 2021 ₹235 Cr | Dec 2021 ₹188 Cr | Mar 2022 ₹170 Cr | Jun 2022 ₹235 Cr | Sep 2022 ₹263 Cr | Dec 2022 ₹269 Cr | Mar 2023 ₹279 Cr | Jun 2023 ₹347 Cr | Sep 2023 ₹383 Cr | Dec 2023 ₹338 Cr | Mar 2024 ₹439 Cr | Jun 2024 ₹433 Cr | Sep 2024 ₹470 Cr | Dec 2024 ₹483 Cr | Mar 2025 ₹550 Cr | Jun 2025 ₹534 Cr | Sep 2025 ₹582 Cr | Dec 2025 ₹520 Cr | Mar 2026 ₹656 Cr | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 ₹115 Cr | Jun 2022 ₹123 Cr | Sep 2022 ₹123 Cr | Dec 2022 ₹150 Cr | Mar 2023 ₹141 Cr | Jun 2023 ₹146 Cr | Sep 2023 ₹197 Cr | Dec 2023 ₹204 Cr | Mar 2024 ₹202 Cr | Jun 2024 ₹200 Cr | Sep 2024 ₹228 Cr | Dec 2024 ₹239 Cr | Mar 2025 ₹245 Cr | Jun 2025 ₹237 Cr | Sep 2025 ₹266 Cr | Dec 2025 ₹281 Cr | Mar 2026 ₹311 Cr | Jun 2026 —
- SAMMAANCAP: Sep 2021 ₹286 Cr | Dec 2021 ₹303 Cr | Mar 2022 ₹307 Cr | Jun 2022 ₹287 Cr | Sep 2022 ₹289 Cr | Dec 2022 ₹291 Cr | Mar 2023 ₹263 Cr | Jun 2023 ₹294 Cr | Sep 2023 ₹298 Cr | Dec 2023 ₹303 Cr | Mar 2024 ₹319 Cr | Jun 2024 ₹327 Cr | Sep 2024 ₹-2.8K Cr | Dec 2024 ₹302 Cr | Mar 2025 ₹324 Cr | Jun 2025 ₹334 Cr | Sep 2025 ₹308 Cr | Dec 2025 ₹314 Cr | Mar 2026 ₹-8.1K Cr | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹126 Cr | Mar 2023 ₹135 Cr | Jun 2023 ₹142 Cr | Sep 2023 ₹148 Cr | Dec 2023 ₹158 Cr | Mar 2024 ₹164 Cr | Jun 2024 ₹172 Cr | Sep 2024 ₹182 Cr | Dec 2024 ₹190 Cr | Mar 2025 ₹207 Cr | Jun 2025 ₹219 Cr | Sep 2025 ₹227 Cr | Dec 2025 ₹236 Cr | Mar 2026 ₹261 Cr | Jun 2026 —
- HOMEFIRST: Sep 2021 ₹45 Cr | Dec 2021 ₹46 Cr | Mar 2022 ₹60 Cr | Jun 2022 ₹51 Cr | Sep 2022 ₹54 Cr | Dec 2022 ₹59 Cr | Mar 2023 ₹64 Cr | Jun 2023 ₹69 Cr | Sep 2023 ₹74 Cr | Dec 2023 ₹79 Cr | Mar 2024 ₹83 Cr | Jun 2024 ₹88 Cr | Sep 2024 ₹92 Cr | Dec 2024 ₹97 Cr | Mar 2025 ₹105 Cr | Jun 2025 ₹119 Cr | Sep 2025 ₹132 Cr | Dec 2025 ₹140 Cr | Mar 2026 ₹149 Cr | Jun 2026 —
- AAVAS: Sep 2021 ₹92 Cr | Dec 2021 ₹89 Cr | Mar 2022 ₹115 Cr | Jun 2022 ₹89 Cr | Sep 2022 ₹107 Cr | Dec 2022 ₹107 Cr | Mar 2023 ₹127 Cr | Jun 2023 ₹110 Cr | Sep 2023 ₹122 Cr | Dec 2023 ₹117 Cr | Mar 2024 ₹142 Cr | Jun 2024 ₹126 Cr | Sep 2024 ₹148 Cr | Dec 2024 ₹146 Cr | Mar 2025 ₹154 Cr | Jun 2025 ₹139 Cr | Sep 2025 ₹164 Cr | Dec 2025 ₹170 Cr | Mar 2026 ₹182 Cr | Jun 2026 ₹171 Cr
- CANFINHOME: Sep 2021 ₹124 Cr | Dec 2021 ₹116 Cr | Mar 2022 ₹123 Cr | Jun 2022 ₹162 Cr | Sep 2022 ₹142 Cr | Dec 2022 ₹151 Cr | Mar 2023 ₹166 Cr | Jun 2023 ₹183 Cr | Sep 2023 ₹158 Cr | Dec 2023 ₹200 Cr | Mar 2024 ₹209 Cr | Jun 2024 ₹200 Cr | Sep 2024 ₹211 Cr | Dec 2024 ₹212 Cr | Mar 2025 ₹234 Cr | Jun 2025 ₹224 Cr | Sep 2025 ₹251 Cr | Dec 2025 ₹265 Cr | Mar 2026 ₹346 Cr | Jun 2026 ₹268 Cr
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹40 Cr | Mar 2023 ₹53 Cr | Jun 2023 ₹47 Cr | Sep 2023 ₹60 Cr | Dec 2023 ₹62 Cr | Mar 2024 ₹78 Cr | Jun 2024 ₹84 Cr | Sep 2024 ₹90 Cr | Dec 2024 ₹96 Cr | Mar 2025 ₹108 Cr | Jun 2025 ₹119 Cr | Sep 2025 ₹122 Cr | Dec 2025 ₹124 Cr | Mar 2026 ₹138 Cr | Jun 2026 —
- REPCOHOME: Sep 2021 ₹86 Cr | Dec 2021 ₹35 Cr | Mar 2022 ₹41 Cr | Jun 2022 ₹74 Cr | Sep 2022 ₹70 Cr | Dec 2022 ₹83 Cr | Mar 2023 ₹84 Cr | Jun 2023 ₹95 Cr | Sep 2023 ₹100 Cr | Dec 2023 ₹104 Cr | Mar 2024 ₹114 Cr | Jun 2024 ₹113 Cr | Sep 2024 ₹115 Cr | Dec 2024 ₹113 Cr | Mar 2025 ₹121 Cr | Jun 2025 ₹115 Cr | Sep 2025 ₹110 Cr | Dec 2025 ₹115 Cr | Mar 2026 ₹135 Cr | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹65 Cr | Mar 2023 ₹52 Cr | Jun 2023 ₹32 Cr | Sep 2023 ₹30 Cr | Dec 2023 ₹36 Cr | Mar 2024 ₹54 Cr | Jun 2024 ₹39 Cr | Sep 2024 ₹37 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹35 Cr | Jun 2025 ₹7 Cr | Sep 2025 ₹50 Cr | Dec 2025 ₹44 Cr | Mar 2026 ₹54 Cr | Jun 2026 —

### 20-quarter Profit growth history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 96% | Sep 2022 84% | Dec 2022 81% | Mar 2023 52% | Jun 2023 46% | Sep 2023 47% | Dec 2023 31% | Mar 2024 27% | Jun 2024 4.6% | Sep 2024 21% | Dec 2024 25% | Mar 2025 54% | Jun 2025 21% | Sep 2025 18% | Dec 2025 21% | Mar 2026 14% | Jun 2026 —
- HUDCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.7% | Sep 2022 7.0% | Dec 2022 30% | Mar 2023 -14% | Jun 2023 8.3% | Sep 2023 14% | Dec 2023 104% | Mar 2024 9.6% | Jun 2024 25% | Sep 2024 52% | Dec 2024 42% | Mar 2025 4.0% | Jun 2025 13% | Sep 2025 3.1% | Dec 2025 -3.0% | Mar 2026 172% | Jun 2026 —
- LICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 514% | Sep 2022 24% | Dec 2022 -40% | Mar 2023 6.9% | Jun 2023 42% | Sep 2023 283% | Dec 2023 153% | Mar 2024 -9.2% | Jun 2024 -1.0% | Sep 2024 11% | Dec 2024 23% | Mar 2025 27% | Jun 2025 4.4% | Sep 2025 1.6% | Dec 2025 -2.6% | Mar 2026 8.7% | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -3.3% | Sep 2022 12% | Dec 2022 43% | Mar 2023 64% | Jun 2023 48% | Sep 2023 46% | Dec 2023 26% | Mar 2024 57% | Jun 2024 25% | Sep 2024 23% | Dec 2024 43% | Mar 2025 25% | Jun 2025 23% | Sep 2025 24% | Dec 2025 7.7% | Mar 2026 19% | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 24% | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 23% | Jun 2023 19% | Sep 2023 60% | Dec 2023 36% | Mar 2024 43% | Jun 2024 37% | Sep 2024 16% | Dec 2024 17% | Mar 2025 21% | Jun 2025 19% | Sep 2025 17% | Dec 2025 18% | Mar 2026 27% | Jun 2026 —
- SAMMAANCAP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.8% | Sep 2022 1.1% | Dec 2022 -4.0% | Mar 2023 -14% | Jun 2023 2.4% | Sep 2023 3.1% | Dec 2023 4.1% | Mar 2024 21% | Jun 2024 11% | Sep 2024 -1,027% | Dec 2024 -0.3% | Mar 2025 1.6% | Jun 2025 2.1% | Sep 2025 — | Dec 2025 4.0% | Mar 2026 -2,600% | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 25% | Mar 2024 21% | Jun 2024 21% | Sep 2024 23% | Dec 2024 20% | Mar 2025 26% | Jun 2025 27% | Sep 2025 25% | Dec 2025 24% | Mar 2026 26% | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 46% | Sep 2022 20% | Dec 2022 28% | Mar 2023 6.7% | Jun 2023 35% | Sep 2023 37% | Dec 2023 34% | Mar 2024 30% | Jun 2024 28% | Sep 2024 24% | Dec 2024 23% | Mar 2025 27% | Jun 2025 35% | Sep 2025 43% | Dec 2025 44% | Mar 2026 42% | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 — | Mar 2022 32% | Jun 2022 51% | Sep 2022 16% | Dec 2022 20% | Mar 2023 10% | Jun 2023 24% | Sep 2023 14% | Dec 2023 9.4% | Mar 2024 12% | Jun 2024 15% | Sep 2024 21% | Dec 2024 25% | Mar 2025 8.5% | Jun 2025 10% | Sep 2025 11% | Dec 2025 16% | Mar 2026 18% | Jun 2026 23%
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 15% | Dec 2022 30% | Mar 2023 35% | Jun 2023 13% | Sep 2023 11% | Dec 2023 32% | Mar 2024 26% | Jun 2024 9.3% | Sep 2024 34% | Dec 2024 6.0% | Mar 2025 12% | Jun 2025 12% | Sep 2025 19% | Dec 2025 25% | Mar 2026 48% | Jun 2026 20%
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 55% | Mar 2024 47% | Jun 2024 79% | Sep 2024 50% | Dec 2024 55% | Mar 2025 38% | Jun 2025 42% | Sep 2025 36% | Dec 2025 29% | Mar 2026 28% | Jun 2026 —
- REPCOHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 131% | Sep 2022 -19% | Dec 2022 137% | Mar 2023 105% | Jun 2023 28% | Sep 2023 43% | Dec 2023 25% | Mar 2024 36% | Jun 2024 19% | Sep 2024 15% | Dec 2024 8.7% | Mar 2025 6.1% | Jun 2025 1.8% | Sep 2025 -4.4% | Dec 2025 1.8% | Mar 2026 12% | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -45% | Mar 2024 3.9% | Jun 2024 22% | Sep 2024 23% | Dec 2024 39% | Mar 2025 -35% | Jun 2025 -82% | Sep 2025 35% | Dec 2025 -12% | Mar 2026 54% | Jun 2026 —

## Funding Base & Its Composition

What the numbers say: PNB Housing Finance Ltd leads deposits at ₹18,055 crore; LIC Housing Finance Ltd leads borrowings at ₹2,77,539 crore.

Investor read: PNB Housing Finance Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

Evidence: PNB Housing Finance Ltd · ₹18,055 crore | 59.5% versus #2 · LIC Housing Finance Ltd | 8/8 recent comparable periods | 6/13 companies · 47 observations

Definition: For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

### Deposits — largest deposit bases
1. PNB Housing Finance Ltd (PNBHOUSING): ₹18.1K Cr
2. LIC Housing Finance Ltd (LICHSGFIN): ₹11.3K Cr
3. Can Fin Homes Ltd (CANFINHOME): ₹220 Cr
4. Bajaj Housing Finance Ltd (BAJAJHFL): ₹170 Cr
5. Aadhar Housing Finance Ltd (AADHARHFC): ₹0 Cr

### Borrowings — largest borrowings
1. LIC Housing Finance Ltd (LICHSGFIN): ₹2.8 L Cr
2. Housing & Urban Development Corporation Ltd (HUDCO): ₹1.4 L Cr
3. Bajaj Housing Finance Ltd (BAJAJHFL): ₹1.0 L Cr
4. PNB Housing Finance Ltd (PNBHOUSING): ₹71.2K Cr
5. Sammaan Capital Ltd (SAMMAANCAP): ₹51.9K Cr

### 20-quarter Deposits history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹170 Cr | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- HUDCO: Sep 2021 ₹11 Cr | Dec 2021 — | Mar 2022 ₹4 Cr | Jun 2022 — | Sep 2022 ₹3 Cr | Dec 2022 — | Mar 2023 ₹2 Cr | Jun 2023 — | Sep 2023 ₹1 Cr | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 — | Sep 2024 ₹0 Cr | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LICHSGFIN: Sep 2021 ₹16.5K Cr | Dec 2021 — | Mar 2022 ₹18.4K Cr | Jun 2022 — | Sep 2022 ₹16.0K Cr | Dec 2022 — | Mar 2023 ₹11.6K Cr | Jun 2023 — | Sep 2023 ₹10.7K Cr | Dec 2023 — | Mar 2024 ₹9.9K Cr | Jun 2024 — | Sep 2024 ₹7.6K Cr | Dec 2024 — | Mar 2025 ₹8.2K Cr | Jun 2025 — | Sep 2025 ₹11.2K Cr | Dec 2025 — | Mar 2026 ₹11.3K Cr | Jun 2026 —
- PNBHOUSING: Sep 2021 ₹16.8K Cr | Dec 2021 — | Mar 2022 ₹17.6K Cr | Jun 2022 — | Sep 2022 ₹17.4K Cr | Dec 2022 — | Mar 2023 ₹17.2K Cr | Jun 2023 — | Sep 2023 ₹16.8K Cr | Dec 2023 — | Mar 2024 ₹17.8K Cr | Jun 2024 — | Sep 2024 ₹17.6K Cr | Dec 2024 — | Mar 2025 ₹17.6K Cr | Jun 2025 — | Sep 2025 ₹18.3K Cr | Dec 2025 — | Mar 2026 ₹18.1K Cr | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 ₹8 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 ₹3 Cr | Mar 2023 ₹3 Cr | Jun 2023 — | Sep 2023 ₹3 Cr | Dec 2023 — | Mar 2024 ₹1 Cr | Jun 2024 — | Sep 2024 ₹1 Cr | Dec 2024 — | Mar 2025 ₹1 Cr | Jun 2025 — | Sep 2025 ₹1 Cr | Dec 2025 — | Mar 2026 ₹0 Cr | Jun 2026 —
- CANFINHOME: Sep 2021 ₹482 Cr | Dec 2021 — | Mar 2022 ₹505 Cr | Jun 2022 — | Sep 2022 ₹502 Cr | Dec 2022 — | Mar 2023 ₹447 Cr | Jun 2023 — | Sep 2023 ₹346 Cr | Dec 2023 — | Mar 2024 ₹232 Cr | Jun 2024 — | Sep 2024 ₹187 Cr | Dec 2024 — | Mar 2025 ₹194 Cr | Jun 2025 — | Sep 2025 ₹194 Cr | Dec 2025 — | Mar 2026 ₹220 Cr | Jun 2026 —

### 20-quarter Borrowings history
- BAJAJHFL: Sep 2021 ₹36.3K Cr | Dec 2021 ₹36.3K Cr | Mar 2022 ₹41.5K Cr | Jun 2022 ₹41.0K Cr | Sep 2022 ₹46.4K Cr | Dec 2022 ₹46.4K Cr | Mar 2023 ₹53.7K Cr | Jun 2023 ₹58.4K Cr | Sep 2023 ₹62.2K Cr | Dec 2023 ₹62.2K Cr | Mar 2024 ₹69.1K Cr | Jun 2024 ₹73.2K Cr | Sep 2024 ₹74.5K Cr | Dec 2024 ₹74.5K Cr | Mar 2025 ₹82.1K Cr | Jun 2025 ₹82.1K Cr | Sep 2025 ₹94.1K Cr | Dec 2025 ₹94.0K Cr | Mar 2026 ₹1.0 L Cr | Jun 2026 —
- HUDCO: Sep 2021 ₹58.3K Cr | Dec 2021 ₹58.3K Cr | Mar 2022 ₹61.5K Cr | Jun 2022 ₹61.5K Cr | Sep 2022 ₹58.4K Cr | Dec 2022 ₹58.4K Cr | Mar 2023 ₹62.9K Cr | Jun 2023 ₹62.9K Cr | Sep 2023 ₹63.3K Cr | Dec 2023 ₹63.3K Cr | Mar 2024 ₹74.0K Cr | Jun 2024 ₹74.0K Cr | Sep 2024 ₹93.6K Cr | Dec 2024 ₹93.6K Cr | Mar 2025 ₹1.1 L Cr | Jun 2025 ₹1.1 L Cr | Sep 2025 ₹1.3 L Cr | Dec 2025 ₹1.3 L Cr | Mar 2026 ₹1.4 L Cr | Jun 2026 —
- LICHSGFIN: Sep 2021 ₹1.9 L Cr | Dec 2021 ₹1.9 L Cr | Mar 2022 ₹2.2 L Cr | Jun 2022 ₹2.1 L Cr | Sep 2022 ₹2.2 L Cr | Dec 2022 ₹2.2 L Cr | Mar 2023 ₹2.4 L Cr | Jun 2023 — | Sep 2023 ₹2.3 L Cr | Dec 2023 ₹2.3 L Cr | Mar 2024 ₹2.5 L Cr | Jun 2024 ₹2.4 L Cr | Sep 2024 ₹2.5 L Cr | Dec 2024 ₹2.5 L Cr | Mar 2025 ₹2.7 L Cr | Jun 2025 ₹2.6 L Cr | Sep 2025 ₹2.7 L Cr | Dec 2025 ₹2.6 L Cr | Mar 2026 ₹2.8 L Cr | Jun 2026 —
- PNBHOUSING: Sep 2021 ₹39.0K Cr | Dec 2021 ₹39.0K Cr | Mar 2022 ₹53.0K Cr | Jun 2022 ₹37.0K Cr | Sep 2022 ₹34.4K Cr | Dec 2022 ₹34.4K Cr | Mar 2023 ₹53.6K Cr | Jun 2023 ₹37.6K Cr | Sep 2023 ₹36.7K Cr | Dec 2023 ₹36.7K Cr | Mar 2024 ₹55.0K Cr | Jun 2024 ₹38.6K Cr | Sep 2024 ₹39.5K Cr | Dec 2024 ₹39.5K Cr | Mar 2025 ₹62.3K Cr | Jun 2025 ₹44.9K Cr | Sep 2025 ₹65.2K Cr | Dec 2025 ₹47.1K Cr | Mar 2026 ₹71.2K Cr | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 ₹10.7K Cr | Jun 2022 ₹10.9K Cr | Sep 2022 — | Dec 2022 ₹12.5K Cr | Mar 2023 ₹12.2K Cr | Jun 2023 — | Sep 2023 ₹12.7K Cr | Dec 2023 — | Mar 2024 ₹14.0K Cr | Jun 2024 ₹14.2K Cr | Sep 2024 ₹14.6K Cr | Dec 2024 ₹14.6K Cr | Mar 2025 ₹16.3K Cr | Jun 2025 ₹16.4K Cr | Sep 2025 ₹17.6K Cr | Dec 2025 ₹17.6K Cr | Mar 2026 ₹18.7K Cr | Jun 2026 —
- SAMMAANCAP: Sep 2021 ₹63.7K Cr | Dec 2021 ₹61.6K Cr | Mar 2022 ₹61.4K Cr | Jun 2022 ₹62.9K Cr | Sep 2022 ₹55.0K Cr | Dec 2022 — | Mar 2023 ₹52.4K Cr | Jun 2023 ₹55.1K Cr | Sep 2023 ₹48.4K Cr | Dec 2023 ₹48.3K Cr | Mar 2024 ₹48.5K Cr | Jun 2024 ₹51.4K Cr | Sep 2024 ₹45.9K Cr | Dec 2024 ₹45.9K Cr | Mar 2025 ₹42.7K Cr | Jun 2025 ₹42.8K Cr | Sep 2025 ₹45.5K Cr | Dec 2025 ₹45.5K Cr | Mar 2026 ₹51.9K Cr | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 ₹2.7K Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹3.8K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹5.2K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹6.9K Cr | Jun 2025 — | Sep 2025 ₹7.3K Cr | Dec 2025 — | Mar 2026 ₹7.9K Cr | Jun 2026 —
- HOMEFIRST: Sep 2021 ₹3.1K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹3.5K Cr | Jun 2022 ₹3.5K Cr | Sep 2022 ₹4.2K Cr | Dec 2022 ₹4.2K Cr | Mar 2023 ₹4.8K Cr | Jun 2023 ₹4.8K Cr | Sep 2023 ₹6.0K Cr | Dec 2023 — | Mar 2024 ₹7.3K Cr | Jun 2024 ₹7.3K Cr | Sep 2024 ₹8.9K Cr | Dec 2024 ₹9.2K Cr | Mar 2025 ₹9.6K Cr | Jun 2025 ₹9.6K Cr | Sep 2025 ₹9.7K Cr | Dec 2025 ₹9.7K Cr | Mar 2026 ₹10.6K Cr | Jun 2026 —
- AAVAS: Sep 2021 ₹6.9K Cr | Dec 2021 ₹6.9K Cr | Mar 2022 ₹8.0K Cr | Jun 2022 ₹8.0K Cr | Sep 2022 ₹8.6K Cr | Dec 2022 ₹8.6K Cr | Mar 2023 ₹9.9K Cr | Jun 2023 ₹9.9K Cr | Sep 2023 ₹11.2K Cr | Dec 2023 ₹11.2K Cr | Mar 2024 ₹12.4K Cr | Jun 2024 ₹12.4K Cr | Sep 2024 ₹12.5K Cr | Dec 2024 ₹12.5K Cr | Mar 2025 ₹13.9K Cr | Jun 2025 ₹13.9K Cr | Sep 2025 ₹14.4K Cr | Dec 2025 ₹14.4K Cr | Mar 2026 ₹15.7K Cr | Jun 2026 ₹15.7K Cr
- CANFINHOME: Sep 2021 ₹20.2K Cr | Dec 2021 ₹20.2K Cr | Mar 2022 ₹24.6K Cr | Jun 2022 ₹24.2K Cr | Sep 2022 ₹26.4K Cr | Dec 2022 ₹26.4K Cr | Mar 2023 ₹29.1K Cr | Jun 2023 ₹28.9K Cr | Sep 2023 ₹30.4K Cr | Dec 2023 ₹30.4K Cr | Mar 2024 ₹31.9K Cr | Jun 2024 ₹31.9K Cr | Sep 2024 ₹33.7K Cr | Dec 2024 ₹33.7K Cr | Mar 2025 ₹35.3K Cr | Jun 2025 ₹35.2K Cr | Sep 2025 ₹36.1K Cr | Dec 2025 ₹36.0K Cr | Mar 2026 ₹38.3K Cr | Jun 2026 ₹38.1K Cr
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 ₹2.1K Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹3.0K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹3.4K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹5.0K Cr | Jun 2025 — | Sep 2025 ₹5.5K Cr | Dec 2025 — | Mar 2026 ₹6.2K Cr | Jun 2026 —
- REPCOHOME: Sep 2021 ₹10.0K Cr | Dec 2021 ₹10.0K Cr | Mar 2022 ₹9.7K Cr | Jun 2022 ₹9.7K Cr | Sep 2022 ₹9.6K Cr | Dec 2022 ₹9.6K Cr | Mar 2023 ₹9.9K Cr | Jun 2023 ₹9.9K Cr | Sep 2023 ₹10.0K Cr | Dec 2023 — | Mar 2024 ₹10.7K Cr | Jun 2024 ₹10.7K Cr | Sep 2024 ₹11.5K Cr | Dec 2024 — | Mar 2025 ₹11.1K Cr | Jun 2025 ₹11.2K Cr | Sep 2025 ₹11.5K Cr | Dec 2025 ₹11.5K Cr | Mar 2026 ₹12.2K Cr | Jun 2026 —
- GICHSGFIN: Sep 2021 ₹10.6K Cr | Dec 2021 ₹10.6K Cr | Mar 2022 ₹10.4K Cr | Jun 2022 ₹10.4K Cr | Sep 2022 ₹9.8K Cr | Dec 2022 ₹9.8K Cr | Mar 2023 ₹9.2K Cr | Jun 2023 ₹9.2K Cr | Sep 2023 ₹8.7K Cr | Dec 2023 ₹8.7K Cr | Mar 2024 ₹8.6K Cr | Jun 2024 ₹8.6K Cr | Sep 2024 ₹8.7K Cr | Dec 2024 ₹8.7K Cr | Mar 2025 ₹8.8K Cr | Jun 2025 ₹8.8K Cr | Sep 2025 ₹9.0K Cr | Dec 2025 ₹9.0K Cr | Mar 2026 ₹9.1K Cr | Jun 2026 —

## Return On Assets

What the numbers say: Aptus Value Housing Finance India Ltd leads roa at 7.8%; Can Fin Homes Ltd leads roa change at +0.3 percentage points.

Investor read: Aptus Value Housing Finance India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

Evidence: Aptus Value Housing Finance India Ltd · 7.8% | 33.8% versus #2 · India Shelter Finance Corporation Ltd | Not enough history | 13/13 companies · 104 observations

Definition: ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

### ROA — highest
1. Aptus Value Housing Finance India Ltd (APTUS): 7.8%
2. India Shelter Finance Corporation Ltd (INDIASHLTR): 5.8%
3. Aadhar Housing Finance Ltd (AADHARHFC): 4.0%
4. Home First Finance Company India Ltd (HOMEFIRST): 3.6%
5. AAVAS Financiers Ltd (AAVAS): 3.1%

### ROA change — fastest improvers
1. Can Fin Homes Ltd (CANFINHOME): +0.3 pp
2. Housing & Urban Development Corporation Ltd (HUDCO): +0.3 pp
3. Home First Finance Company India Ltd (HOMEFIRST): +0.2 pp
4. PNB Housing Finance Ltd (PNBHOUSING): +0.2 pp
5. Aadhar Housing Finance Ltd (AADHARHFC): +0.1 pp

### 20-quarter ROA history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 1.5% | Jun 2022 — | Sep 2022 1.8% | Dec 2022 — | Mar 2023 1.9% | Jun 2023 2.0% | Sep 2023 2.7% | Dec 2023 — | Mar 2024 2.1% | Jun 2024 2.0% | Sep 2024 2.3% | Dec 2024 2.4% | Mar 2025 2.1% | Jun 2025 — | Sep 2025 2.0% | Dec 2025 — | Mar 2026 2.0% | Jun 2026 —
- HUDCO: Sep 2021 — | Dec 2021 — | Mar 2022 2.2% | Jun 2022 — | Sep 2022 2.3% | Dec 2022 — | Mar 2023 2.1% | Jun 2023 — | Sep 2023 2.2% | Dec 2023 — | Mar 2024 2.3% | Jun 2024 — | Sep 2024 2.2% | Dec 2024 — | Mar 2025 2.1% | Jun 2025 — | Sep 2025 1.9% | Dec 2025 — | Mar 2026 2.4% | Jun 2026 —
- LICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 0.9% | Jun 2022 — | Sep 2022 1.2% | Dec 2022 — | Mar 2023 1.0% | Jun 2023 — | Sep 2023 1.5% | Dec 2023 — | Mar 2024 1.6% | Jun 2024 — | Sep 2024 1.6% | Dec 2024 — | Mar 2025 1.7% | Jun 2025 — | Sep 2025 1.7% | Dec 2025 — | Mar 2026 1.7% | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 1.3% | Jun 2022 — | Sep 2022 1.3% | Dec 2022 — | Mar 2023 1.6% | Jun 2023 — | Sep 2023 1.8% | Dec 2023 — | Mar 2024 2.1% | Jun 2024 — | Sep 2024 2.2% | Dec 2024 — | Mar 2025 2.3% | Jun 2025 — | Sep 2025 2.5% | Dec 2025 — | Mar 2026 2.5% | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 3.1% | Mar 2023 3.2% | Jun 2023 3.6% | Sep 2023 3.6% | Dec 2023 — | Mar 2024 3.9% | Jun 2024 — | Sep 2024 4.0% | Dec 2024 — | Mar 2025 3.9% | Jun 2025 — | Sep 2025 3.9% | Dec 2025 — | Mar 2026 4.0% | Jun 2026 —
- SAMMAANCAP: Sep 2021 1.2% | Dec 2021 1.3% | Mar 2022 1.4% | Jun 2022 1.5% | Sep 2022 1.6% | Dec 2022 — | Mar 2023 1.5% | Jun 2023 — | Sep 2023 1.6% | Dec 2023 1.6% | Mar 2024 1.7% | Jun 2024 — | Sep 2024 -2.6% | Dec 2024 — | Mar 2025 -2.6% | Jun 2025 — | Sep 2025 1.8% | Dec 2025 — | Mar 2026 -9.6% | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 3.6% | Jun 2022 — | Sep 2022 3.5% | Dec 2022 — | Mar 2023 3.4% | Jun 2023 — | Sep 2023 3.3% | Dec 2023 — | Mar 2024 3.2% | Jun 2024 — | Sep 2024 3.0% | Dec 2024 3.1% | Mar 2025 3.4% | Jun 2025 3.5% | Sep 2025 3.3% | Dec 2025 — | Mar 2026 3.6% | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 — | Mar 2022 3.2% | Jun 2022 — | Sep 2022 3.4% | Dec 2022 — | Mar 2023 3.2% | Jun 2023 — | Sep 2023 3.1% | Dec 2023 — | Mar 2024 3.0% | Jun 2024 — | Sep 2024 3.2% | Dec 2024 — | Mar 2025 3.1% | Jun 2025 — | Sep 2025 3.1% | Dec 2025 — | Mar 2026 3.1% | Jun 2026 —
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 1.8% | Dec 2022 — | Mar 2023 1.9% | Jun 2023 — | Sep 2023 1.9% | Dec 2023 — | Mar 2024 2.0% | Jun 2024 — | Sep 2024 2.1% | Dec 2024 — | Mar 2025 2.1% | Jun 2025 — | Sep 2025 2.2% | Dec 2025 — | Mar 2026 2.4% | Jun 2026 —
- REPCOHOME: Sep 2021 — | Dec 2021 — | Mar 2022 1.6% | Jun 2022 — | Sep 2022 1.8% | Dec 2022 — | Mar 2023 2.5% | Jun 2023 — | Sep 2023 2.8% | Dec 2023 — | Mar 2024 3.0% | Jun 2024 — | Sep 2024 3.0% | Dec 2024 — | Mar 2025 3.1% | Jun 2025 — | Sep 2025 3.0% | Dec 2025 — | Mar 2026 2.9% | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 1.7% | Dec 2023 — | Mar 2024 1.5% | Jun 2024 — | Sep 2024 1.6% | Dec 2024 — | Mar 2025 1.5% | Jun 2025 — | Sep 2025 1.3% | Dec 2025 — | Mar 2026 1.4% | Jun 2026 —

### 20-quarter ROA change history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.4 pp | Jun 2023 — | Sep 2023 +0.9 pp | Dec 2023 — | Mar 2024 +0.2 pp | Jun 2024 0.0 pp | Sep 2024 −0.4 pp | Dec 2024 — | Mar 2025 0.0 pp | Jun 2025 — | Sep 2025 −0.3 pp | Dec 2025 — | Mar 2026 −0.1 pp | Jun 2026 —
- HUDCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 −0.1 pp | Jun 2023 — | Sep 2023 −0.1 pp | Dec 2023 — | Mar 2024 +0.2 pp | Jun 2024 — | Sep 2024 0.0 pp | Dec 2024 — | Mar 2025 −0.2 pp | Jun 2025 — | Sep 2025 −0.3 pp | Dec 2025 — | Mar 2026 +0.3 pp | Jun 2026 —
- LICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.1 pp | Jun 2023 — | Sep 2023 +0.3 pp | Dec 2023 — | Mar 2024 +0.6 pp | Jun 2024 — | Sep 2024 +0.1 pp | Dec 2024 — | Mar 2025 +0.1 pp | Jun 2025 — | Sep 2025 +0.1 pp | Dec 2025 — | Mar 2026 0.0 pp | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.3 pp | Jun 2023 — | Sep 2023 +0.5 pp | Dec 2023 — | Mar 2024 +0.5 pp | Jun 2024 — | Sep 2024 +0.4 pp | Dec 2024 — | Mar 2025 +0.2 pp | Jun 2025 — | Sep 2025 +0.3 pp | Dec 2025 — | Mar 2026 +0.2 pp | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +0.7 pp | Jun 2024 — | Sep 2024 +0.4 pp | Dec 2024 — | Mar 2025 0.0 pp | Jun 2025 — | Sep 2025 −0.1 pp | Dec 2025 — | Mar 2026 +0.1 pp | Jun 2026 —
- SAMMAANCAP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.4 pp | Dec 2022 — | Mar 2023 +0.1 pp | Jun 2023 — | Sep 2023 0.0 pp | Dec 2023 — | Mar 2024 +0.2 pp | Jun 2024 — | Sep 2024 −4.2 pp | Dec 2024 — | Mar 2025 −4.3 pp | Jun 2025 — | Sep 2025 +4.4 pp | Dec 2025 — | Mar 2026 −7.0 pp | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 −0.2 pp | Jun 2023 — | Sep 2023 −0.2 pp | Dec 2023 — | Mar 2024 −0.2 pp | Jun 2024 — | Sep 2024 −0.3 pp | Dec 2024 — | Mar 2025 +0.2 pp | Jun 2025 — | Sep 2025 +0.3 pp | Dec 2025 — | Mar 2026 +0.2 pp | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.0 pp | Jun 2023 — | Sep 2023 −0.3 pp | Dec 2023 — | Mar 2024 −0.2 pp | Jun 2024 — | Sep 2024 +0.1 pp | Dec 2024 — | Mar 2025 +0.1 pp | Jun 2025 — | Sep 2025 −0.1 pp | Dec 2025 — | Mar 2026 0.0 pp | Jun 2026 —
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 +0.1 pp | Dec 2023 — | Mar 2024 +0.1 pp | Jun 2024 — | Sep 2024 +0.2 pp | Dec 2024 — | Mar 2025 +0.1 pp | Jun 2025 — | Sep 2025 +0.1 pp | Dec 2025 — | Mar 2026 +0.3 pp | Jun 2026 —
- REPCOHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.9 pp | Jun 2023 — | Sep 2023 +1.0 pp | Dec 2023 — | Mar 2024 +0.5 pp | Jun 2024 — | Sep 2024 +0.2 pp | Dec 2024 — | Mar 2025 +0.1 pp | Jun 2025 — | Sep 2025 0.0 pp | Dec 2025 — | Mar 2026 −0.2 pp | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 −0.1 pp | Dec 2024 — | Mar 2025 0.0 pp | Jun 2025 — | Sep 2025 −0.3 pp | Dec 2025 — | Mar 2026 −0.1 pp | Jun 2026 —

## ROE — Leaders & Improvers

What the numbers say: Housing & Urban Development Corporation Ltd leads roe at 20.2%; Can Fin Homes Ltd leads roe change at +5 percentage points.

Investor read: Housing & Urban Development Corporation Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

Evidence: Housing & Urban Development Corporation Ltd · 20.2% | 0.5% versus #2 · Aptus Value Housing Finance India Ltd | 5/8 recent comparable periods | 13/13 companies · 204 observations

Definition: ROE shows the return to shareholders, but should be read with asset quality and leverage.

### ROE — highest
1. Housing & Urban Development Corporation Ltd (HUDCO): 20%
2. Aptus Value Housing Finance India Ltd (APTUS): 20%
3. Can Fin Homes Ltd (CANFINHOME): 20%
4. India Shelter Finance Corporation Ltd (INDIASHLTR): 17%
5. Aadhar Housing Finance Ltd (AADHARHFC): 16%

### ROE change — fastest improvers
1. Can Fin Homes Ltd (CANFINHOME): +5.0 pp
2. India Shelter Finance Corporation Ltd (INDIASHLTR): +2.0 pp
3. Aptus Value Housing Finance India Ltd (APTUS): +1.0 pp
4. Bajaj Housing Finance Ltd (BAJAJHFL): +0.9 pp
5. AAVAS Financiers Ltd (AAVAS): +0.3 pp

### 20-quarter ROE history
- BAJAJHFL: Sep 2021 — | Dec 2021 11% | Mar 2022 12% | Jun 2022 12% | Sep 2022 19% | Dec 2022 15% | Mar 2023 14% | Jun 2023 12% | Sep 2023 17% | Dec 2023 17% | Mar 2024 15% | Jun 2024 13% | Sep 2024 14% | Dec 2024 13% | Mar 2025 12% | Jun 2025 12% | Sep 2025 12% | Dec 2025 13% | Mar 2026 13% | Jun 2026 —
- HUDCO: Sep 2021 12% | Dec 2021 11% | Mar 2022 5.7% | Jun 2022 21% | Sep 2022 11% | Dec 2022 11% | Mar 2023 6.9% | Jun 2023 17% | Sep 2023 12% | Dec 2023 12% | Mar 2024 13% | Jun 2024 17% | Sep 2024 13% | Dec 2024 16% | Mar 2025 17% | Jun 2025 17% | Sep 2025 14% | Dec 2025 16% | Mar 2026 16% | Jun 2026 —
- LICHSGFIN: Sep 2021 2.9% | Dec 2021 4.5% | Mar 2022 13% | Jun 2022 19% | Sep 2022 15% | Dec 2022 5.0% | Mar 2023 7.2% | Jun 2023 18% | Sep 2023 14% | Dec 2023 17% | Mar 2024 16% | Jun 2024 14% | Sep 2024 17% | Dec 2024 16% | Mar 2025 17% | Jun 2025 16% | Sep 2025 15% | Dec 2025 14% | Mar 2026 15% | Jun 2026 —
- PNBHOUSING: Sep 2021 11% | Dec 2021 10% | Mar 2022 8.0% | Jun 2022 7.0% | Sep 2022 9.5% | Dec 2022 10% | Mar 2023 10% | Jun 2023 10% | Sep 2023 13% | Dec 2023 12% | Mar 2024 9.5% | Jun 2024 12% | Sep 2024 12% | Dec 2024 12% | Mar 2025 12% | Jun 2025 14% | Sep 2025 13% | Dec 2025 13% | Mar 2026 12% | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 14% | Jun 2022 — | Sep 2022 16% | Dec 2022 14% | Mar 2023 15% | Jun 2023 16% | Sep 2023 16% | Dec 2023 — | Mar 2024 17% | Jun 2024 18% | Sep 2024 18% | Dec 2024 18% | Mar 2025 16% | Jun 2025 16% | Sep 2025 15% | Dec 2025 16% | Mar 2026 16% | Jun 2026 —
- SAMMAANCAP: Sep 2021 7.1% | Dec 2021 7.3% | Mar 2022 7.5% | Jun 2022 7.4% | Sep 2022 6.9% | Dec 2022 6.9% | Mar 2023 6.5% | Jun 2023 6.5% | Sep 2023 6.8% | Dec 2023 6.7% | Mar 2024 6.6% | Jun 2024 6.3% | Sep 2024 6.6% | Dec 2024 -56% | Mar 2025 6.1% | Jun 2025 6.2% | Sep 2025 6.1% | Dec 2025 5.6% | Mar 2026 5.6% | Jun 2026 —
- HOMEFIRST: Sep 2021 10% | Dec 2021 13% | Mar 2022 13% | Jun 2022 16% | Sep 2022 13% | Dec 2022 13% | Mar 2023 14% | Jun 2023 15% | Sep 2023 15% | Dec 2023 16% | Mar 2024 14% | Jun 2024 15% | Sep 2024 17% | Dec 2024 17% | Mar 2025 17% | Jun 2025 17% | Sep 2025 19% | Dec 2025 16% | Mar 2026 14% | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 15% | Mar 2022 14% | Jun 2022 17% | Sep 2022 13% | Dec 2022 15% | Mar 2023 14% | Jun 2023 16% | Sep 2023 13% | Dec 2023 14% | Mar 2024 13% | Jun 2024 16% | Sep 2024 13% | Dec 2024 15% | Mar 2025 15% | Jun 2025 15% | Sep 2025 13% | Dec 2025 15% | Mar 2026 15% | Jun 2026 15%
- CANFINHOME: Sep 2021 — | Dec 2021 18% | Mar 2022 16% | Jun 2022 17% | Sep 2022 21% | Dec 2022 18% | Mar 2023 18% | Jun 2023 19% | Sep 2023 20% | Dec 2023 17% | Mar 2024 20% | Jun 2024 20% | Sep 2024 18% | Dec 2024 19% | Mar 2025 18% | Jun 2025 19% | Sep 2025 18% | Dec 2025 19% | Mar 2026 19% | Jun 2026 24%
- REPCOHOME: Sep 2021 6.1% | Dec 2021 16% | Mar 2022 6.3% | Jun 2022 7.2% | Sep 2022 13% | Dec 2022 12% | Mar 2023 14% | Jun 2023 13% | Sep 2023 15% | Dec 2023 15% | Mar 2024 14% | Jun 2024 14% | Sep 2024 15% | Dec 2024 15% | Mar 2025 14% | Jun 2025 14% | Sep 2025 13% | Dec 2025 13% | Mar 2026 13% | Jun 2026 —
- GICHSGFIN: Sep 2021 0.8% | Dec 2021 13% | Mar 2022 22% | Jun 2022 14% | Sep 2022 10% | Dec 2022 15% | Mar 2023 17% | Jun 2023 13% | Sep 2023 7.5% | Dec 2023 7.0% | Mar 2024 8.2% | Jun 2024 12% | Sep 2024 8.5% | Dec 2024 7.9% | Mar 2025 11% | Jun 2025 7.3% | Sep 2025 1.5% | Dec 2025 10% | Mar 2026 8.7% | Jun 2026 —

### 20-quarter ROE change history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +4.0 pp | Mar 2023 +2.0 pp | Jun 2023 −0.3 pp | Sep 2023 −1.6 pp | Dec 2023 +1.8 pp | Mar 2024 +1.7 pp | Jun 2024 +1.1 pp | Sep 2024 −2.9 pp | Dec 2024 −3.5 pp | Mar 2025 −3.6 pp | Jun 2025 −0.8 pp | Sep 2025 −2.6 pp | Dec 2025 −0.5 pp | Mar 2026 +0.9 pp | Jun 2026 —
- HUDCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.9 pp | Dec 2022 −0.1 pp | Mar 2023 +1.2 pp | Jun 2023 −4.3 pp | Sep 2023 +0.1 pp | Dec 2023 +0.7 pp | Mar 2024 +6.3 pp | Jun 2024 +0.4 pp | Sep 2024 +1.9 pp | Dec 2024 +4.7 pp | Mar 2025 +4.0 pp | Jun 2025 −0.7 pp | Sep 2025 +0.6 pp | Dec 2025 −0.5 pp | Mar 2026 −1.4 pp | Jun 2026 —
- LICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +12.1 pp | Dec 2022 +0.5 pp | Mar 2023 −6.0 pp | Jun 2023 −0.4 pp | Sep 2023 −0.8 pp | Dec 2023 +11.7 pp | Mar 2024 +8.8 pp | Jun 2024 −3.8 pp | Sep 2024 +2.4 pp | Dec 2024 −0.4 pp | Mar 2025 +1.1 pp | Jun 2025 +1.4 pp | Sep 2025 −1.6 pp | Dec 2025 −1.9 pp | Mar 2026 −2.6 pp | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.4 pp | Dec 2022 0.0 pp | Mar 2023 +2.3 pp | Jun 2023 +3.4 pp | Sep 2023 +3.1 pp | Dec 2023 +1.8 pp | Mar 2024 −0.8 pp | Jun 2024 +1.6 pp | Sep 2024 −1.0 pp | Dec 2024 +0.1 pp | Mar 2025 +2.7 pp | Jun 2025 +1.5 pp | Sep 2025 +1.1 pp | Dec 2025 +1.2 pp | Mar 2026 −0.6 pp | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.2 pp | Jun 2023 — | Sep 2023 +0.1 pp | Dec 2023 — | Mar 2024 +2.3 pp | Jun 2024 +1.8 pp | Sep 2024 +2.3 pp | Dec 2024 — | Mar 2025 −0.5 pp | Jun 2025 −2.0 pp | Sep 2025 −3.1 pp | Dec 2025 −1.5 pp | Mar 2026 0.0 pp | Jun 2026 —
- SAMMAANCAP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.2 pp | Dec 2022 −0.4 pp | Mar 2023 −1.0 pp | Jun 2023 −0.9 pp | Sep 2023 −0.1 pp | Dec 2023 −0.2 pp | Mar 2024 +0.1 pp | Jun 2024 −0.2 pp | Sep 2024 −0.2 pp | Dec 2024 −62.2 pp | Mar 2025 −0.5 pp | Jun 2025 −0.1 pp | Sep 2025 −0.5 pp | Dec 2025 +61.1 pp | Mar 2026 −0.5 pp | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.8 pp | Dec 2022 +0.7 pp | Mar 2023 +1.3 pp | Jun 2023 −1.3 pp | Sep 2023 +2.2 pp | Dec 2023 +2.5 pp | Mar 2024 +0.5 pp | Jun 2024 +0.7 pp | Sep 2024 +1.3 pp | Dec 2024 +0.9 pp | Mar 2025 +2.2 pp | Jun 2025 +1.7 pp | Sep 2025 +2.4 pp | Dec 2025 −0.6 pp | Mar 2026 −2.6 pp | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.2 pp | Mar 2023 +0.3 pp | Jun 2023 −1.1 pp | Sep 2023 +0.7 pp | Dec 2023 −0.3 pp | Mar 2024 −0.8 pp | Jun 2024 −0.5 pp | Sep 2024 0.0 pp | Dec 2024 +0.8 pp | Mar 2025 +1.2 pp | Jun 2025 −1.0 pp | Sep 2025 −0.6 pp | Dec 2025 −0.6 pp | Mar 2026 0.0 pp | Jun 2026 +0.3 pp
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.6 pp | Mar 2023 +1.6 pp | Jun 2023 +2.2 pp | Sep 2023 −1.1 pp | Dec 2023 −1.0 pp | Mar 2024 +2.2 pp | Jun 2024 +1.2 pp | Sep 2024 −1.7 pp | Dec 2024 +2.1 pp | Mar 2025 −2.2 pp | Jun 2025 −0.9 pp | Sep 2025 −0.7 pp | Dec 2025 +0.4 pp | Mar 2026 +1.4 pp | Jun 2026 +5.0 pp
- REPCOHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +6.7 pp | Dec 2022 −4.1 pp | Mar 2023 +7.5 pp | Jun 2023 +6.2 pp | Sep 2023 +1.9 pp | Dec 2023 +3.0 pp | Mar 2024 0.0 pp | Jun 2024 +1.0 pp | Sep 2024 +0.4 pp | Dec 2024 0.0 pp | Mar 2025 −0.3 pp | Jun 2025 −0.9 pp | Sep 2025 −1.7 pp | Dec 2025 −2.4 pp | Mar 2026 −0.7 pp | Jun 2026 —
- GICHSGFIN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +9.6 pp | Dec 2022 +1.4 pp | Mar 2023 −5.6 pp | Jun 2023 −0.7 pp | Sep 2023 −2.9 pp | Dec 2023 −7.6 pp | Mar 2024 −8.3 pp | Jun 2024 −0.8 pp | Sep 2024 +1.0 pp | Dec 2024 +0.9 pp | Mar 2025 +2.4 pp | Jun 2025 −4.7 pp | Sep 2025 −7.0 pp | Dec 2025 +2.2 pp | Mar 2026 −1.9 pp | Jun 2026 —

## Gross NPA — Leaders & Improvers

What the numbers say: Bajaj Housing Finance Ltd leads gross npa at 0.3%; Sammaan Capital Ltd leads gnpa change at -1 percentage points.

Investor read: Bajaj Housing Finance Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Evidence: Bajaj Housing Finance Ltd · 0.3% | 71% versus #2 · PNB Housing Finance Ltd | 3/8 recent comparable periods | 7/13 companies · 96 observations

Definition: Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

### Gross NPA — lowest
1. Bajaj Housing Finance Ltd (BAJAJHFL): 0.3%
2. PNB Housing Finance Ltd (PNBHOUSING): 0.9%
3. AAVAS Financiers Ltd (AAVAS): 0.9%
4. Aadhar Housing Finance Ltd (AADHARHFC): 1.1%
5. India Shelter Finance Corporation Ltd (INDIASHLTR): 1.3%

### GNPA change — fastest improvers
1. Sammaan Capital Ltd (SAMMAANCAP): −1.0 pp
2. PNB Housing Finance Ltd (PNBHOUSING): −0.2 pp
3. Bajaj Housing Finance Ltd (BAJAJHFL): −0.0 pp
4. Can Fin Homes Ltd (CANFINHOME): −0.0 pp
5. Aadhar Housing Finance Ltd (AADHARHFC): +0.0 pp

### 20-quarter Gross NPA history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.2% | Sep 2023 0.2% | Dec 2023 0.3% | Mar 2024 0.3% | Jun 2024 0.3% | Sep 2024 0.3% | Dec 2024 0.3% | Mar 2025 0.3% | Jun 2025 0.3% | Sep 2025 0.3% | Dec 2025 0.3% | Mar 2026 0.3% | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 1.2% | Dec 2024 1.2% | Mar 2025 — | Jun 2025 1.1% | Sep 2025 1.0% | Dec 2025 1.0% | Mar 2026 0.9% | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.5% | Sep 2023 1.4% | Dec 2023 1.4% | Mar 2024 1.1% | Jun 2024 1.3% | Sep 2024 1.3% | Dec 2024 1.4% | Mar 2025 1.1% | Jun 2025 1.3% | Sep 2025 1.4% | Dec 2025 1.4% | Mar 2026 1.1% | Jun 2026 —
- SAMMAANCAP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 3.3% | Mar 2023 2.9% | Jun 2023 2.9% | Sep 2023 2.9% | Dec 2023 2.9% | Mar 2024 2.7% | Jun 2024 2.7% | Sep 2024 2.4% | Dec 2024 — | Mar 2025 1.3% | Jun 2025 1.5% | Sep 2025 1.4% | Dec 2025 — | Mar 2026 — | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 1.4% | Mar 2023 1.2% | Jun 2023 1.3% | Sep 2023 1.2% | Dec 2023 1.2% | Mar 2024 1.1% | Jun 2024 1.3% | Sep 2024 1.3% | Dec 2024 1.3% | Mar 2025 1.2% | Jun 2025 1.5% | Sep 2025 1.6% | Dec 2025 1.6% | Mar 2026 1.5% | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.6% | Jun 2023 1.6% | Sep 2023 1.7% | Dec 2023 1.7% | Mar 2024 1.7% | Jun 2024 2.9% | Sep 2024 1.7% | Dec 2024 1.7% | Mar 2025 1.7% | Jun 2025 1.8% | Sep 2025 1.9% | Dec 2025 2.0% | Mar 2026 1.8% | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.0% | Sep 2023 — | Dec 2023 — | Mar 2024 0.9% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.6% | Mar 2023 0.6% | Jun 2023 0.6% | Sep 2023 0.8% | Dec 2023 0.9% | Mar 2024 0.8% | Jun 2024 0.9% | Sep 2024 0.9% | Dec 2024 0.9% | Mar 2025 0.9% | Jun 2025 1.0% | Sep 2025 0.9% | Dec 2025 0.9% | Mar 2026 0.9% | Jun 2026 —
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.1% | Jun 2023 1.1% | Sep 2023 — | Dec 2023 1.2% | Mar 2024 1.0% | Jun 2024 1.1% | Sep 2024 1.2% | Dec 2024 1.3% | Mar 2025 1.0% | Jun 2025 1.2% | Sep 2025 1.3% | Dec 2025 1.5% | Mar 2026 1.3% | Jun 2026 —

### 20-quarter GNPA change history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +0.1 pp | Sep 2024 +0.1 pp | Dec 2024 +0.0 pp | Mar 2025 +0.0 pp | Jun 2025 +0.0 pp | Sep 2025 −0.0 pp | Dec 2025 −0.0 pp | Mar 2026 −0.0 pp | Jun 2026 —
- PNBHOUSING: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 −0.2 pp | Dec 2025 −0.2 pp | Mar 2026 — | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 −0.2 pp | Sep 2024 −0.1 pp | Dec 2024 −0.0 pp | Mar 2025 −0.1 pp | Jun 2025 +0.0 pp | Sep 2025 +0.1 pp | Dec 2025 +0.0 pp | Mar 2026 +0.0 pp | Jun 2026 —
- SAMMAANCAP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 −0.5 pp | Mar 2024 −0.2 pp | Jun 2024 −0.2 pp | Sep 2024 −0.5 pp | Dec 2024 — | Mar 2025 −1.4 pp | Jun 2025 −1.2 pp | Sep 2025 −1.0 pp | Dec 2025 — | Mar 2026 — | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 −0.3 pp | Mar 2024 −0.1 pp | Jun 2024 +0.0 pp | Sep 2024 +0.1 pp | Dec 2024 +0.1 pp | Mar 2025 +0.1 pp | Jun 2025 +0.2 pp | Sep 2025 +0.3 pp | Dec 2025 +0.3 pp | Mar 2026 +0.3 pp | Jun 2026 —
- HOMEFIRST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +0.1 pp | Jun 2024 +1.3 pp | Sep 2024 0.0 pp | Dec 2024 0.0 pp | Mar 2025 0.0 pp | Jun 2025 −1.1 pp | Sep 2025 +0.2 pp | Dec 2025 +0.3 pp | Mar 2026 +0.1 pp | Jun 2026 —
- CANFINHOME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 +0.3 pp | Mar 2024 +0.3 pp | Jun 2024 +0.3 pp | Sep 2024 +0.1 pp | Dec 2024 +0.0 pp | Mar 2025 +0.1 pp | Jun 2025 +0.1 pp | Sep 2025 +0.1 pp | Dec 2025 0.0 pp | Mar 2026 −0.0 pp | Jun 2026 —
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 −0.2 pp | Jun 2024 +0.1 pp | Sep 2024 — | Dec 2024 +0.1 pp | Mar 2025 +0.0 pp | Jun 2025 +0.1 pp | Sep 2025 +0.0 pp | Dec 2025 +0.3 pp | Mar 2026 +0.3 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: GIC Housing Finance Ltd has the lowest comparable P/BV ÷ ROE at 0.05×, 0% below LIC Housing Finance Ltd. Only 12 of 13 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: GIC Housing Finance Ltd · 0.05× | 0% versus #2 · LIC Housing Finance Ltd | 0/8 recent comparable periods | 12/13 companies · 185 observations

Definition: Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

### P/BV ÷ ROE — lowest return-adjusted price
1. GIC Housing Finance Ltd (GICHSGFIN): 0.1
2. LIC Housing Finance Ltd (LICHSGFIN): 0.1
3. Repco Home Finance Ltd (REPCOHOME): 0.1
4. Can Fin Homes Ltd (CANFINHOME): 0.1
5. Housing & Urban Development Corporation Ltd (HUDCO): 0.1

### P/BV — lowest P/BV
1. GIC Housing Finance Ltd (GICHSGFIN): 0.4
2. Repco Home Finance Ltd (REPCOHOME): 0.6
3. LIC Housing Finance Ltd (LICHSGFIN): 0.7
4. Sammaan Capital Ltd (SAMMAANCAP): 1.0
5. PNB Housing Finance Ltd (PNBHOUSING): 1.4

### 20-quarter P/BV ÷ ROE history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 0.5 | Dec 2024 0.4 | Mar 2025 0.5 | Jun 2025 0.4 | Sep 2025 0.4 | Dec 2025 0.3 | Mar 2026 0.2 | Jun 2026 —
- HUDCO: Sep 2021 0.1 | Dec 2021 0.1 | Mar 2022 0.1 | Jun 2022 0.0 | Sep 2022 0.0 | Dec 2022 0.1 | Mar 2023 0.1 | Jun 2023 0.1 | Sep 2023 0.1 | Dec 2023 0.1 | Mar 2024 0.2 | Jun 2024 0.2 | Sep 2024 0.2 | Dec 2024 0.2 | Mar 2025 0.1 | Jun 2025 0.2 | Sep 2025 0.2 | Dec 2025 0.2 | Mar 2026 0.1 | Jun 2026 —
- LICHSGFIN: Sep 2021 0.4 | Dec 2021 0.2 | Mar 2022 0.1 | Jun 2022 0.0 | Sep 2022 0.1 | Dec 2022 0.2 | Mar 2023 0.1 | Jun 2023 0.1 | Sep 2023 0.1 | Dec 2023 0.1 | Mar 2024 0.1 | Jun 2024 0.1 | Sep 2024 0.1 | Dec 2024 0.1 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.1 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 —
- PNBHOUSING: Sep 2021 0.2 | Dec 2021 0.1 | Mar 2022 0.1 | Jun 2022 0.1 | Sep 2022 0.1 | Dec 2022 0.1 | Mar 2023 0.1 | Jun 2023 0.1 | Sep 2023 0.1 | Dec 2023 0.1 | Mar 2024 0.1 | Jun 2024 0.2 | Sep 2024 0.2 | Dec 2024 0.1 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.1 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.2 | Sep 2024 0.2 | Dec 2024 0.2 | Mar 2025 0.2 | Jun 2025 0.2 | Sep 2025 0.2 | Dec 2025 0.2 | Mar 2026 0.2 | Jun 2026 —
- SAMMAANCAP: Sep 2021 0.1 | Dec 2021 0.1 | Mar 2022 0.1 | Jun 2022 0.1 | Sep 2022 0.1 | Dec 2022 0.1 | Mar 2023 0.1 | Jun 2023 0.1 | Sep 2023 0.1 | Dec 2023 0.1 | Mar 2024 0.1 | Jun 2024 0.1 | Sep 2024 0.1 | Dec 2024 — | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.1 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 —
- HOMEFIRST: Sep 2021 0.4 | Dec 2021 0.4 | Mar 2022 0.3 | Jun 2022 0.3 | Sep 2022 0.4 | Dec 2022 0.3 | Mar 2023 0.3 | Jun 2023 0.3 | Sep 2023 0.3 | Dec 2023 0.3 | Mar 2024 0.3 | Jun 2024 0.3 | Sep 2024 0.3 | Dec 2024 0.2 | Mar 2025 0.2 | Jun 2025 0.3 | Sep 2025 0.2 | Dec 2025 0.2 | Mar 2026 0.2 | Jun 2026 —
- AAVAS: Sep 2021 — | Dec 2021 0.5 | Mar 2022 0.5 | Jun 2022 0.4 | Sep 2022 0.5 | Dec 2022 0.3 | Mar 2023 0.3 | Jun 2023 0.2 | Sep 2023 0.3 | Dec 2023 0.2 | Mar 2024 0.2 | Jun 2024 0.3 | Sep 2024 0.3 | Dec 2024 0.2 | Mar 2025 0.3 | Jun 2025 0.3 | Sep 2025 0.3 | Dec 2025 0.2 | Mar 2026 0.2 | Jun 2026 0.2
- CANFINHOME: Sep 2021 — | Dec 2021 0.1 | Mar 2022 0.2 | Jun 2022 0.1 | Sep 2022 0.1 | Dec 2022 0.1 | Mar 2023 0.1 | Jun 2023 0.2 | Sep 2023 0.1 | Dec 2023 0.2 | Mar 2024 0.1 | Jun 2024 0.2 | Sep 2024 0.2 | Dec 2024 0.1 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.1 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 0.1
- REPCOHOME: Sep 2021 0.2 | Dec 2021 0.1 | Mar 2022 0.1 | Jun 2022 0.1 | Sep 2022 0.1 | Dec 2022 0.1 | Mar 2023 0.0 | Jun 2023 0.1 | Sep 2023 0.1 | Dec 2023 0.1 | Mar 2024 0.1 | Jun 2024 0.1 | Sep 2024 0.1 | Dec 2024 0.1 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.0 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 —
- GICHSGFIN: Sep 2021 0.7 | Dec 2021 0.0 | Mar 2022 0.0 | Jun 2022 0.0 | Sep 2022 0.1 | Dec 2022 0.1 | Mar 2023 0.0 | Jun 2023 0.1 | Sep 2023 0.1 | Dec 2023 0.1 | Mar 2024 0.1 | Jun 2024 0.1 | Sep 2024 0.1 | Dec 2024 0.1 | Mar 2025 0.1 | Jun 2025 0.1 | Sep 2025 0.3 | Dec 2025 0.1 | Mar 2026 0.1 | Jun 2026 —

### 20-quarter P/BV history
- BAJAJHFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 6.8 | Dec 2024 5.6 | Mar 2025 5.5 | Jun 2025 5.1 | Sep 2025 4.6 | Dec 2025 3.7 | Mar 2026 3.0 | Jun 2026 —
- HUDCO: Sep 2021 0.7 | Dec 2021 0.6 | Mar 2022 0.5 | Jun 2022 0.5 | Sep 2022 0.5 | Dec 2022 0.7 | Mar 2023 0.6 | Jun 2023 0.8 | Sep 2023 1.2 | Dec 2023 1.6 | Mar 2024 2.4 | Jun 2024 3.6 | Sep 2024 2.9 | Dec 2024 2.6 | Mar 2025 2.3 | Jun 2025 2.8 | Sep 2025 2.5 | Dec 2025 2.5 | Mar 2026 1.9 | Jun 2026 —
- LICHSGFIN: Sep 2021 1.1 | Dec 2021 0.9 | Mar 2022 0.9 | Jun 2022 0.8 | Sep 2022 0.9 | Dec 2022 0.9 | Mar 2023 0.7 | Jun 2023 0.9 | Sep 2023 0.9 | Dec 2023 1.0 | Mar 2024 1.1 | Jun 2024 1.6 | Sep 2024 1.2 | Dec 2024 1.0 | Mar 2025 0.9 | Jun 2025 1.1 | Sep 2025 0.8 | Dec 2025 0.8 | Mar 2026 0.7 | Jun 2026 —
- PNBHOUSING: Sep 2021 1.6 | Dec 2021 1.1 | Mar 2022 0.9 | Jun 2022 0.8 | Sep 2022 0.8 | Dec 2022 1.1 | Mar 2023 1.1 | Jun 2023 1.5 | Sep 2023 1.6 | Dec 2023 1.4 | Mar 2024 1.1 | Jun 2024 1.8 | Sep 2024 1.7 | Dec 2024 1.4 | Mar 2025 1.4 | Jun 2025 1.9 | Sep 2025 1.3 | Dec 2025 1.4 | Mar 2026 1.1 | Jun 2026 —
- AADHARHFC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 3.9 | Sep 2024 3.4 | Dec 2024 3.1 | Mar 2025 3.1 | Jun 2025 3.0 | Sep 2025 3.5 | Dec 2025 3.0 | Mar 2026 2.9 | Jun 2026 —
- SAMMAANCAP: Sep 2021 0.9 | Dec 2021 0.8 | Mar 2022 0.6 | Jun 2022 0.4 | Sep 2022 0.4 | Dec 2022 0.6 | Mar 2023 0.4 | Jun 2023 0.5 | Sep 2023 0.7 | Dec 2023 0.8 | Mar 2024 0.7 | Jun 2024 0.7 | Sep 2024 0.6 | Dec 2024 0.6 | Mar 2025 0.4 | Jun 2025 0.5 | Sep 2025 0.5 | Dec 2025 0.5 | Mar 2026 0.6 | Jun 2026 —
- APTUS: Sep 2021 — | Dec 2021 — | Mar 2022 6.0 | Jun 2022 — | Sep 2022 — | Dec 2022 4.8 | Mar 2023 4.1 | Jun 2023 4.2 | Sep 2023 4.4 | Dec 2023 4.5 | Mar 2024 4.4 | Jun 2024 4.9 | Sep 2024 4.8 | Dec 2024 3.8 | Mar 2025 3.7 | Jun 2025 4.2 | Sep 2025 3.6 | Dec 2025 3.0 | Mar 2026 2.1 | Jun 2026 —
- HOMEFIRST: Sep 2021 3.8 | Dec 2021 4.6 | Mar 2022 4.3 | Jun 2022 4.1 | Sep 2022 4.5 | Dec 2022 3.8 | Mar 2023 4.1 | Jun 2023 3.8 | Sep 2023 3.9 | Dec 2023 4.2 | Mar 2024 4.1 | Jun 2024 4.3 | Sep 2024 5.0 | Dec 2024 4.0 | Mar 2025 4.0 | Jun 2025 5.3 | Sep 2025 4.2 | Dec 2025 2.9 | Mar 2026 2.4 | Jun 2026 —
- AAVAS: Sep 2021 8.4 | Dec 2021 8.0 | Mar 2022 6.8 | Jun 2022 6.5 | Sep 2022 5.8 | Dec 2022 4.8 | Mar 2023 4.5 | Jun 2023 3.7 | Sep 2023 4.2 | Dec 2023 3.5 | Mar 2024 3.0 | Jun 2024 4.5 | Sep 2024 3.8 | Dec 2024 3.5 | Mar 2025 4.4 | Jun 2025 4.2 | Sep 2025 3.3 | Dec 2025 3.1 | Mar 2026 2.3 | Jun 2026 3.1
- CANFINHOME: Sep 2021 3.4 | Dec 2021 2.6 | Mar 2022 2.8 | Jun 2022 2.2 | Sep 2022 1.9 | Dec 2022 2.1 | Mar 2023 2.3 | Jun 2023 2.8 | Sep 2023 2.8 | Dec 2023 2.6 | Mar 2024 2.5 | Jun 2024 3.3 | Sep 2024 2.7 | Dec 2024 2.1 | Mar 2025 1.9 | Jun 2025 2.4 | Sep 2025 1.9 | Dec 2025 2.3 | Mar 2026 2.0 | Jun 2026 2.3
- INDIASHLTR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 4.9 | Jun 2024 3.3 | Sep 2024 3.5 | Dec 2024 3.0 | Mar 2025 3.6 | Jun 2025 4.1 | Sep 2025 3.5 | Dec 2025 3.0 | Mar 2026 2.8 | Jun 2026 —
- REPCOHOME: Sep 2021 0.9 | Dec 2021 0.8 | Mar 2022 0.5 | Jun 2022 0.4 | Sep 2022 0.6 | Dec 2022 0.6 | Mar 2023 0.5 | Jun 2023 0.8 | Sep 2023 0.9 | Dec 2023 0.9 | Mar 2024 0.9 | Jun 2024 1.3 | Sep 2024 1.1 | Dec 2024 0.8 | Mar 2025 0.7 | Jun 2025 0.9 | Sep 2025 0.6 | Dec 2025 0.7 | Mar 2026 0.6 | Jun 2026 —
- GICHSGFIN: Sep 2021 0.6 | Dec 2021 0.6 | Mar 2022 0.5 | Jun 2022 0.4 | Sep 2022 0.5 | Dec 2022 0.7 | Mar 2023 0.6 | Jun 2023 0.7 | Sep 2023 0.7 | Dec 2023 0.7 | Mar 2024 0.6 | Jun 2024 0.8 | Sep 2024 0.7 | Dec 2024 0.6 | Mar 2025 0.5 | Jun 2025 0.6 | Sep 2025 0.5 | Dec 2025 0.5 | Mar 2026 0.4 | Jun 2026 —

## Market action

Sammaan Capital Ltd has the strongest one-year price move in Finance - Housing at +18%. PNB Housing Finance Ltd leads on Mansfield relative strength against NIFTY at +17.2%. 4 of 13 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-24.

### Strongest one-year price performers
1. Sammaan Capital Ltd (SAMMAANCAP): 18%
2. Can Fin Homes Ltd (CANFINHOME): -0.4%
3. Aadhar Housing Finance Ltd (AADHARHFC): -1.9%
4. PNB Housing Finance Ltd (PNBHOUSING): -2.2%
5. Repco Home Finance Ltd (REPCOHOME): -13%

### Strongest relative strength versus NIFTY 500
1. PNB Housing Finance Ltd (PNBHOUSING): 17%
2. Sammaan Capital Ltd (SAMMAANCAP): 6.3%
3. Home First Finance Company India Ltd (HOMEFIRST): 3.2%
4. Aadhar Housing Finance Ltd (AADHARHFC): 1.5%
5. Aptus Value Housing Finance India Ltd (APTUS): -0.2%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- 2 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.

## Every company
- Bajaj Housing Finance Ltd (BAJAJHFL) — market value ₹70.2K Cr; latest fundamentals Mar 2026
- Housing & Urban Development Corporation Ltd (HUDCO) — market value ₹39.1K Cr; latest fundamentals Mar 2026
- LIC Housing Finance Ltd (LICHSGFIN) — market value ₹29.6K Cr; latest fundamentals Mar 2026
- PNB Housing Finance Ltd (PNBHOUSING) — market value ₹27.6K Cr; latest fundamentals Mar 2026
- Aadhar Housing Finance Ltd (AADHARHFC) — market value ₹21.6K Cr; latest fundamentals Mar 2026
- Sammaan Capital Ltd (SAMMAANCAP) — market value ₹18.7K Cr; latest fundamentals Mar 2026
- Aptus Value Housing Finance India Ltd (APTUS) — market value ₹13.9K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Home First Finance Company India Ltd (HOMEFIRST) — market value ₹12.3K Cr; latest fundamentals Mar 2026
- AAVAS Financiers Ltd (AAVAS) — market value ₹10.9K Cr; latest fundamentals Jun 2026
- Can Fin Homes Ltd (CANFINHOME) — market value ₹10.8K Cr; latest fundamentals Jun 2026
- India Shelter Finance Corporation Ltd (INDIASHLTR) — market value ₹7.9K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Repco Home Finance Ltd (REPCOHOME) — market value ₹2.4K Cr; latest fundamentals Mar 2026
- GIC Housing Finance Ltd (GICHSGFIN) — market value ₹791 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures

## Source standing of each company

Cross-checked: 10. Unverified: 1. Withheld: 2. Graded companies: 13.

1 of 13 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

2 of 13 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Aptus Value Housing Finance India Ltd (APTUS) — its two data sources disagree by up to 3.3% on reported income across 14 comparable periods, so its derived ratios are withheld; India Shelter Finance Corporation Ltd (INDIASHLTR) — its two data sources disagree by up to 17% on reported income across 14 comparable periods, so its derived ratios are withheld.

- WITHHELD | APTUS | Aptus Value Housing Finance India Ltd | diff_gt_2pct | disagreement up to 3.34% over 14 comparable periods
- WITHHELD | INDIASHLTR | India Shelter Finance Corporation Ltd | diff_gt_2pct | disagreement up to 16.58% over 14 comparable periods

- UNVERIFIED | GICHSGFIN | GIC Housing Finance Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Finance - Housing index?

The Nifty Finance - Housing index tracks India's listed Finance - Housing companies as a single basket. This page follows the same 13 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Finance - Housing sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Finance - Housing stocks in India?

Ranked by this page's four-factor score, Can Fin Homes Ltd places first among 13 listed Finance - Housing companies, followed by PNB Housing Finance Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Finance - Housing stocks are listed in India?

This comparison covers 13 listed Finance - Housing companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Finance - Housing company is the biggest?

LIC Housing Finance Ltd is the largest, with trailing-twelve-month income of ₹28,847 crore, ahead of Housing & Urban Development Corporation Ltd at ₹13,150 crore. That covers 13 of 13 companies with comparable reporting through Mar 2026.

### Which Finance - Housing company is growing fastest?

India Shelter Finance Corporation Ltd has the fastest income growth at 31.1% year on year, across 13 of 13 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Finance - Housing company makes the most profit?

LIC Housing Finance Ltd earns the most, at ₹5,604 crore of trailing-twelve-month net profit, from 13 of 13 comparable companies. Housing & Urban Development Corporation Ltd has the fastest profit growth at 48.9%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Finance - Housing lender has the best asset quality?

Bajaj Housing Finance Ltd reports the lowest gross NPA ratio at 0.3% — lower is better — across 7 of 13 lenders. Read the direction as well as the level: a rising NPA ratio off a low base can matter more than a high but falling one.

### Which Finance - Housing company earns the highest return on capital?

Aptus Value Housing Finance India Ltd leads on return on assets at 7.8%, across 13 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Finance - Housing stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — GIC Housing Finance Ltd screens cheapest at 0.05×. Only 12 of 13 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Finance - Housing lender has the largest funding base?

PNB Housing Finance Ltd has the largest reported deposit base at ₹18,055 crore. For lenders, deposits and borrowings are operating inputs rather than leverage, so they are read against asset quality and returns instead of as debt.

### Is the Finance - Housing sector beating the market?

Finance - Housing has underperformed NIFTY 500 by 9.3% over the last 52 weeks and 2.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 13 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Finance - Housing stock has the strongest price momentum?

PNB Housing Finance Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Finance - Housing company scores highest for research priority?

Can Fin Homes Ltd scores 71.2 out of 100 with 87% evidence confidence, from 25.8 points on growth and earnings, 16.5 on capital efficiency, 15.3 on valuation and 13.6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Finance - Housing companies does this comparison cover, and over what period?

It compares 13 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Finance - Housing sector?

The 13 Finance - Housing companies on this page carry ₹2,65,840 crore of combined market value. Bajaj Housing Finance Ltd is the largest at ₹70,150 crore, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

### What is the Finance - Housing sector's P/B ratio?

The median price-to-book ratio across the 13 Finance - Housing companies on this page is 1.8×, measured on the 13 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

### How is the Finance - Housing sector performing?

4 of the 13 covered Finance - Housing companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 9.3% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-29.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/finance-housing