Technology-driven affordable housing finance company for first-time, low/middle-income home buyers.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 538 | +18.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 160 | +34.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 16.89 | −0.8 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | Fiscal year | FY ending Mar 2026 | Not in the analysed materials. No older figure is substituted. | ||
| Revenue growth (YoY) | 21.24 | −8.2 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
2 of 3 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Return on Equity (ROE) | 15%+ in about 6 to 7 quarters | Q4 FY25 | The target was achieved in FY26 with a reported ROE of 15.7%. While the Q1 FY27 ROE dipped to 14.5%, the original milestone of reaching 15%+ has been met. | Achieved |
| AUM Growth | 30%+ | Q2 FY25 | Promise relates to FY25 and is considered complete. | Achieved |
| Co-lending contribution | 10% of disbursements | Q1 FY26 | Co-lending disbursements were weak at ₹46 crores (2.8% of total disbursements) due to process and policy hiccups. Management states these are being addressed, but performance has deteriorated. | At Risk |
1 of Home First Finance Company India Limited's 14 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 11 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹1,215.2 on 24 Oct 2025 → ₹1,012. High ₹1,280.1 (21 Jul 2026), low ₹904.8 (30 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Home First Finance Company India Limited, founded in 2010, is an affordable housing finance company (HFC) that lends to first-time home buyers from low- and middle-income households building or buying their first home, along with related loan-against-property financing. It operates a hub-and-spoke distribution model built around a physical and digital branch network, with a data-science-backed, centralised underwriting process integrated with Account Aggregator data and proprietary customer-scoring models. Funding is sourced through a diversified base of bank and financial-institution lenders rather than commercial paper.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
2 of 3 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Return on Equity (ROE) | 15%+ in about 6 to 7 quarters | Q4 FY25 | The target was achieved in FY26 with a reported ROE of 15.7%. While the Q1 FY27 ROE dipped to 14.5%, the original milestone of reaching 15%+ has been met. | Achieved |
| AUM Growth | 30%+ | Q2 FY25 | Promise relates to FY25 and is considered complete. | Achieved |
| Co-lending contribution | 10% of disbursements | Q1 FY26 | Co-lending disbursements were weak at ₹46 crores (2.8% of total disbursements) due to process and policy hiccups. Management states these are being addressed, but performance has deteriorated. | At Risk |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 14 tracked commitments, with each call’s wording and source.
Call summaries
Home First Finance Company India Limited Q1 FY27
Home First Finance Company reported a strong Q1 FY27, driven by healthy AUM growth of 25.7% YoY and a 34.5% YoY increase in PAT to ₹160 crores. Margins expanded with NIM at 6.0% and RoA/RoE improving to 4.2% and 14.5% respectively. Asset quality remained stable, and the company continued its investment in distribution and technology, despite a slight increase in cost-to-income and weak co-lending momentum.
Read the full callHome First Finan Q4 FY26
Home First Finance Company delivered a strong Q4 and FY26, marked by robust AUM and profit growth, record disbursements, and significant asset quality improvements. The company successfully navigated H1 challenges and is confident in sustaining a 25% AUM growth trajectory for FY27, driven by rebuilt teams, enhanced distribution, and strategic technology adoption, while maintaining strong spreads and controlled credit costs.
Read the full callHome First Finance Q3 FY26
Home First Finance delivered a strong Q3 FY26 with record disbursements and robust PAT growth of 44% YoY. While the company faced some asset quality headwinds in Tamil Nadu and one-time gratuity costs due to the new labour code, management expressed high confidence in returning to a 25% AUM growth trajectory. The MD & CEO also explicitly quashed rumors regarding his potential exit, reinforcing leadership stability.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +34% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 373 | 406 | 415 | 454 | 477 | 482 | 501 | 538 |
| Expenses | 75 | 81 | 84 | 94 | 99 | 102 | 109 | 118 |
| Other income | 1 | 2 | 2 | 2 | 2 | 1 | 3 | 2 |
| Interest | 176 | 193 | 190 | 200 | 203 | 194 | 195 | 208 |
| Depreciation | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 |
| Profit before tax | 120 | 130 | 138 | 156 | 173 | 183 | 195 | 208 |
| Tax rate | 23.0% | 25.0% | 24.0% | 24.0% | 24.0% | 23.0% | 23.0% | 23.0% |
| Net profit | 92 | 97 | 105 | 119 | 132 | 140 | 149 | 160 |
| EPS (₹ per share) | 10.34 | 10.86 | 11.63 | 11.52 | 12.73 | 13.49 | 14.33 | 15.29 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 790 | 1,137 | 1,530 | 1,914 |
| Expenses | 187 | 245 | 308 | 404 |
| Other income | 4 | 20 | 10 | 8 |
| Interest | 305 | 500 | 716 | 792 |
| Depreciation | 8 | 12 | 15 | 19 |
| Profit before tax | 295 | 400 | 502 | 707 |
| Net profit | 228 | 305 | 382 | 540 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 18 | 18 | 18 | 18 | 21 | 21 |
| Reserves | 1,556 | 1,800 | 2,104 | 2,503 | 3,994 | 4,336 |
| Borrowings | 3,467 | 4,813 | 7,302 | 9,551 | — | 10,590 |
| Other liabilities | 76 | 108 | 110 | 140 | 144 | 220 |
| Total liabilities | 5,117 | 6,739 | 9,534 | 12,212 | 13,811 | 15,167 |
| Fixed assets | 20 | 26 | 30 | 46 | 48 | 56 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 281 | 379 | 360 | 401 | 812 |
| Other assets | 5,097 | 6,432 | 9,125 | 11,805 | 13,362 | 14,298 |
| Total assets | 5,117 | 6,739 | 9,534 | 12,212 | 13,811 | 15,167 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -223 | -807 | -1,469 | -1,908 | -2,196 | -1,940 |
| Cash from investing | -615 | 804 | -267 | -217 | 0 | -408 |
| Cash from financing | 900 | 411 | 1,353 | 2,470 | 2,215 | 2,198 |
| Net cash flow | 62 | 408 | -382 | 345 | 19 | -150 |
| Free cash flow | -225 | -810 | -1,476 | -1,916 | -2,208 | -1,949 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Return on equity | 9.0% | 13.0% | 13.0% | 16.0% | 16.0% | 16.0% |
| Dividend payout | 0.0% | 0.0% | 10.0% | 10.0% | 9.0% | 10.0% |
Ownership
Foreign institutions hold 42.44% as of Sept 2026; institutions added 1.65 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 4 holders trimming and 6 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Home First Finance Company India Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Mutual fund | 8.12% | newly disclosed |
| Global fund house | 7.07% | −0.91 pp |
| Sovereign | 5.18% | −0.12 pp |
| Mutual fund | 5.14% | unchanged |
| 4.71% | unchanged | |
| NBFC / DFI | 3.43% | unchanged |
| 2.71% | newly disclosed | |
| Global fund house | 2.41% | −0.11 pp |
| 2.26% | unchanged | |
| Global fund house | 2.21% | unchanged |
| Global fund house | 2.21% | +0.09 pp |
| Global fund house | 1.72% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 2 added, 5 trimmed, 0 sold out — net +4.16 L shares (+5.1%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹718 Cr | +4.27 L | Dec '24 |
| HDFC Banking & Financial Services Fund HDFC Mutual Fund | ₹76 Cr | −0.04 L | Dec '24 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹68 Cr | held | Apr '25 |
| HDFC Business Cycle Fund HDFC Mutual Fund | ₹59 Cr | held | Apr '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹17 Cr | −0.04 L | Sep '21 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹8 Cr | −0.02 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | −0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
2 added, 5 trimmed — net +4.16 L shares (+5.1%)
Shares held by these funds +26127%
Oct '23 85.75 L shares Sep '26
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