Geographical Expansion
Expected: FY26MEDIUM confidence
What: Branch count: 15 branches in MH/OR
“As of 31st October '25, the total branch count in these two states stood at 15... early experience has been encouraging.”
Aptus Value Housing Finance India Ltd: Stock Analysis & Fundamentals
Data from 3w agoAptus Value Housing Finance India Ltd (Finance - Housing) — fundamental analysis, earnings data, and key metrics. PE: 15.0. ROE: 18.6%. This stock is not currently in the Nifty 500 momentum outperformers list.
Aptus Value Housing Finance India Ltd Key Facts
What's Happening
👔Promoter stake down 30.0% this quarter
🌐FII stake increased 12.9% this quarter
🏛️DII accumulation — stake up 16.4%
Earnings Acceleration Triggers
1. Geographical Expansion
FY26MEDIUM
2. Interest Cost Reduction Deleveraging
Q3 FY26HIGH
3. Spreads improved to 8.9%
HIGH
Key Risks
1. Attrition and competition for human resources at the branch level from new NBFCs
MEDIUM2. Potential impact of the New Labour Code on employee costs
LOWSector-Specific Signals
Gross NPA Ratio1.56%
Net Interest Margin₹406 Cr+26%
Cost of Funds8.3%
Total AUM₹12,330 Cr+21%
Key Numbers
Current Price
₹264
Dividend Yield
1.74%
Market Cap
13.2K Cr
Valuation
N/AWhy Are Aptus Value Housing Finance India Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 18, 2026
Interest Cost Reduction Deleveraging
Expected: Q3 FY26HIGH confidence
What: Cost of Borrowing: 8.3%
Impact: ₹406 Cr NIM
“Our spreads improved to 8.9%, driven by decline in cost of funds to 8.3%... there is also a new facility that has been given by them at 7.95%.”
Spreads improved to 8.9%
HIGH confidence
What: Spreads improved to 8.9%
“Our spreads improved to 8.9%, driven by decline in cost of funds to 8.3%.”
What Are the Key Risks for Aptus Value Housing Finance India Ltd?
Earnings deceleration risks from management commentary
Attrition and competition for human resources at the branch level from new NBFCs
MEDIUMTrigger: Newer players are aggressively hiring field-level staff, leading to higher attrition.
Impact: PAT impact: ₹3.85 Cr
Management view: Implementation of New Labour Code considered in financials; focus on productivity.
Monitor: labor
Potential impact of the New Labour Code on employee costs
LOWTrigger: Mandatory compliance with new labor regulations.
Impact: PAT impact: ₹3.85 Cr
Management view: Already considered in the current quarter's financials.
Monitor: regulatory
What Is Aptus Value Housing Finance India Ltd's Management Saying?
Key quotes from recent conference calls
“With a vision to reach INR25,000 crores AUM in the medium term, we aim to build on the current momentum and sustain a 25% plus growth. [Previous AUM Growth guidance]”
“The credit cost has increased to 50 basis points in H1, mainly due to certain accounting policy change... we have now decided to go for 100% technical write-off. [Previous Credit Cost guidance]”
“Progressively, our plan is really increase it by INR1 lakh average ticket size per year. So if it is INR10 lakh login today, we may look at INR11 lakhs next year. [Initiative: Ticket Size Increase]”
“This will be an additional channel to the existing channel... This, we are trying in 1 or 2 states. If this becomes successful, then it will be launched on a full-fledged basis. [Initiative: Connector Channel Pilot]”
What Did Aptus Value Housing Finance India Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹406 Cr
YoY +26%QoQ +4.4%
Why: Growth was driven by a 21% year-on-year increase in AUM and improved spreads resulting from a decline in the cost of funds.
Net income margin growth outpaced AUM growth due to spread expansion.
EBITDA
₹312 Cr
YoY +27%
Why: Operating profit growth was supported by stable opex-to-AUM ratios despite investments in branch expansion and IT.
Operating leverage remained stable at 2.7% opex-to-AUM.
PAT
₹239 Cr
YoY +26%QoQ +5.3%
Why: PAT growth was driven by robust net income margins and stable asset quality, translating to a 20.2% ROE.
The company maintained one of the highest ROEs in the industry at 20.2%.
Other Highlights
• AUM grew 21% YoY to ₹12,330 crores as of December 31, 2025.
• Branch network expanded to 335 branches, adding 35 branches in the first nine months of FY26.
• Cost of funds declined to 8.3%, improving spreads to 8.9%.
What Sector Metrics Matter for Aptus Value Housing Finance India Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Gross NPA Ratio
1.56%
QoQ +1 bp
Why: Slight uptick in SME loans and seasonal volatility in collections during festive periods.
Net Interest Margin
₹406 Cr
YoY +26%QoQ +4.4%
Why: Driven by AUM growth and a decline in the cost of funds to 8.3%.
Cost of Funds
8.3%
QoQ -12 bps
Why: Refinancing and rating upgrades allowed for lower borrowing rates.
Total AUM
₹12,330 Cr
YoY +21%QoQ +4.8%
Why: Growth driven by branch expansion and higher average ticket sizes.
Credit Cost
50 bps
YoY +30 bpsQoQ Stable
Why: Policy change to 100% technical write-off beyond 500 days (previously 2 years).
Return on Equity
20.2%
QoQ +20 bps
Why: Efficient operations and stable opex-to-AUM ratio of 2.7%.
Balance Transfer Out
2.5%
QoQ Stable
Why: Actual loan transfers to other banks remain low; most prepayments are from customer's own sources.
Average Ticket Size (Login)
₹10 Lakh
YoY +₹1 Lakh
Why: Strategic shift to move away from microfinance-like profiles (below ₹7 lakh).
What Is Aptus Value Housing Finance India Ltd's Management Guidance?
Forward-looking targets from management for FY26
OPM Guidance
20%
Margin Outlook
REAFFIRMED
Volume
LOWERED
Management Tone: BULLISH
Guidance Changes
LOWERED
AUM Growth: 25%+ → 22% to 24%
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
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Frequently Asked Questions: Aptus Value Housing Finance India Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Aptus Value Housing Finance India Ltd's latest quarterly results?
Aptus Value Housing Finance India Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: +24.2%
- Revenue Growth YoY: +23.1%
- Operating Margin: 82.0%
- Net Interest Margin: 53.00%
- Gross NPA: 1.56%
What is Aptus Value Housing Finance India Ltd's current PE ratio?
Aptus Value Housing Finance India Ltd's current PE ratio is 15.0x.
- Current PE: 15.0x
- Market Cap: 13.2K Cr
- Dividend Yield: 1.74%
What is Aptus Value Housing Finance India Ltd's price-to-book ratio?
Aptus Value Housing Finance India Ltd's price-to-book ratio is 2.8x.
- Price-to-Book (P/B): 2.8x
- Book Value per Share: ₹93
- Current Price: ₹264
Is Aptus Value Housing Finance India Ltd a fundamentally strong company?
Aptus Value Housing Finance India Ltd's fundamental strength based on key financial ratios
- Return on Equity (ROE): 19.0%
- Return on Capital (ROCE): 15.0%
Is Aptus Value Housing Finance India Ltd debt free?
Aptus Value Housing Finance India Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹7,000 Cr
What is Aptus Value Housing Finance India Ltd's return on equity (ROE) and ROCE?
Aptus Value Housing Finance India Ltd's return ratios over recent years
- FY2023: ROE 16.0%, ROCE 15.0%
- FY2024: ROE 17.0%, ROCE 15.0%
- FY2025: ROE 19.0%, ROCE 15.0%
Is Aptus Value Housing Finance India Ltd's cash flow positive?
Aptus Value Housing Finance India Ltd's operating cash flow is negative (FY2025).
- Cash from Operations (CFO): ₹-1,000 Cr
- Free Cash Flow (FCF): ₹-1,000 Cr
- CFO/PAT Ratio: -187% (weak cash conversion)
What is Aptus Value Housing Finance India Ltd's dividend yield?
Aptus Value Housing Finance India Ltd's current dividend yield is 1.74%.
- Dividend Yield: 1.74%
- Current Price: ₹264
Who holds Aptus Value Housing Finance India Ltd shares — promoters, FII, DII?
Aptus Value Housing Finance India Ltd's shareholding pattern (Mar 2026)
- Promoters: 23.9%
- FII (Foreign): 30.3%
- DII (Domestic): 29.4%
- Public: 16.4%
Is promoter holding increasing or decreasing in Aptus Value Housing Finance India Ltd?
Aptus Value Housing Finance India Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 23.9% (Mar 2026)
- Previous Quarter: 23.9% (Dec 2025)
- Change: 0.00% (stable)
Is Aptus Value Housing Finance India Ltd a new momentum entry or an established outperformer?
Aptus Value Housing Finance India Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Aptus Value Housing Finance India Ltd?
Aptus Value Housing Finance India Ltd has 3 key growth catalysts identified from recent earnings analysis
- Geographical Expansion — Early experience in Maharashtra and Odisha has been encouraging with healthy traction in disbursements.
- Interest Cost Reduction Deleveraging — Refinancing high-cost loans and leveraging rating upgrades to lower borrowing costs.
- Spreads improved to 8.9% — Driven by a decline in the cost of funds to 8.3% and optimized borrowing mix.
What are the key risks in Aptus Value Housing Finance India Ltd?
Aptus Value Housing Finance India Ltd has 2 key risks worth monitoring
- [MEDIUM] Attrition and competition for human resources at the branch level from new NBFCs — Newer players are aggressively hiring field-level staff, leading to higher attrition.
- [LOW] Potential impact of the New Labour Code on employee costs — Mandatory compliance with new labor regulations.
What did Aptus Value Housing Finance India Ltd's management say in the latest earnings call?
In Q3 FY26, Aptus Value Housing Finance India Ltd's management highlighted
- "With a vision to reach INR25,000 crores AUM in the medium term, we aim to build on the current momentum and sustain a 25% plus growth. [Previous AUM ..."
- "The credit cost has increased to 50 basis points in H1, mainly due to certain accounting policy change... we have now decided to go for 100% technical..."
- "Progressively, our plan is really increase it by INR1 lakh average ticket size per year. So if it is INR10 lakh login today, we may look at INR11 lakh..."
What is Aptus Value Housing Finance India Ltd's management guidance for growth?
Aptus Value Housing Finance India Ltd's management has provided the following forward guidance for FY26
- Revenue outlook: Not Given
- OPM guidance: 20%
- Management tone: bullish
- Milestone: [LOWERED] AUM Growth: 25%+ → 22% to 24%
What sector-specific metrics matter most for Aptus Value Housing Finance India Ltd?
Aptus Value Housing Finance India Ltd's most important sub-sector-specific KPIs from the latest concall
- Gross NPA Ratio: 1.56% (QoQ +1 bp) — Slight uptick in SME loans and seasonal volatility in collections during festive periods.
- Net Interest Margin: ₹406 Cr (YoY +26%) (QoQ +4.4%) — Driven by AUM growth and a decline in the cost of funds to 8.3%.
- Cost of Funds: 8.3% (QoQ -12 bps) — Refinancing and rating upgrades allowed for lower borrowing rates.
- Total AUM: ₹12,330 Cr (YoY +21%) (QoQ +4.8%) — Growth driven by branch expansion and higher average ticket sizes.
- Credit Cost: 50 bps (YoY +30 bps) (QoQ Stable) — Policy change to 100% technical write-off beyond 500 days (previously 2 years).
- Return on Equity: 20.2% (QoQ +20 bps) — Efficient operations and stable opex-to-AUM ratio of 2.7%.
Is Aptus Value Housing Finance India Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Aptus Value Housing Finance India Ltd may be worth studying
- Strong returns — ROE 19.0%
What is the investment thesis for Aptus Value Housing Finance India Ltd?
Aptus Value Housing Finance India Ltd investment thesis summary:
Research Signals (Bull Case)
- Growth catalyst: Geographical Expansion
Risk Factors (Bear Case)
- Key risk: Attrition and competition for human resources at the branch level from new NBFCs
What is the future outlook for Aptus Value Housing Finance India Ltd?
Aptus Value Housing Finance India Ltd's forward outlook based on current data signals
- Key Catalyst: Geographical Expansion
- Key Risk: Attrition and competition for human resources at the branch level from new NBFCs
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.