Aadhar Housing Finance Ltd is targeting more than 20% growth in assets under management (AUM) in FY27 as it advances towards ₹50,000 crore over the next three years. According to reports from Mint, the company closed fiscal 2026 (FY26) with an AUM of about ₹30,571 crore and has set a longer-term AUM target of ₹1 trillion. Disbursements in the March quarter (Q4FY26) touched a record ₹3,084 crore and are expected to grow 18-19% in FY27.
The company, backed by Blackstone which holds about 65% stake following a recent fund rollover, primarily lends to low-income borrowers with minimal exposure to overseas employment income streams. As reported by Mint, non-resident Indian borrowers account for less than 1% of the portfolio, limiting direct vulnerability to geopolitical disruptions in the Gulf. Managing director and CEO Rishi Anand stated that even in prolonged disruption scenarios, the company expects repayment resilience as borrowers are engaged in essential economic activities.
Under the Pradhan Mantri Awas Yojana (PMAY) 2.0, the company has facilitated subsidies for 13,951 beneficiaries, amounting to about ₹45.06 crore. According to Mint reports, the company is seeing rising engagement from state governments on beneficiary-led construction and housing projects for economically weaker sections and low-income groups, which is expected to support incremental demand. India's housing finance market presents a large opportunity with total outstanding housing credit estimated at about ₹37 trillion as of December 2025.
The lender's business ended FY26 with spreads of about 5.8% and maintains a largely matched floating-rate structure with 74% of loan assets and 76% of borrowings linked to floating rates. As reported by Mint, the company's total borrowings stood at about ₹18,000 crore as of 31 March 2026, with funding diversified across National Housing Bank loans, bank term loans, and capital market instruments. The cost of borrowing stood at around 7.6-7.7% at the end of the year, with geopolitical uncertainties expected to keep borrowing costs range-bound in the near term.
Within the affordable housing segment, Anand noted that low-income and affordable housing is growing faster than the broader industry, driven by urbanization, policy support and structural housing shortage. According to Mint reports, the broader housing finance sector is expected to grow at 15-16% annually, while the affordable housing segment is projected to expand at 18-19%. Among listed housing finance companies, Aadhar Housing Finance is positioned as a growth-oriented player in the affordable housing segment, while larger peers such as Bajaj Housing Finance, LIC Housing Finance and Can Fin Homes continue to account for a larger share of the broader housing finance market.
