INDIASHLTR
India Shelter Finance Corporation share price & financials
- Price
- ₹784.35
- Market cap
- ₹7.3k Cr
- Sector
- Financial Services
- Calls analysed
- 7
India Shelter Finance Corporation Limited Q1 FY27
What went well
- Gross AUM grew 24% year-on-year to INR 11,284 crores.
- PAT for the quarter came in at INR 143 crores, registering a growth of 23% year-on-year and 4% quarter-on-quarter.
- Return on equity for the quarter stood at 17.5%.
What to watch
- Reported disbursement for the quarter stood at INR 641 crores, impacted by a one-time accounting change from check handover to check realization.
- Stage 3 assets increased to 1.5% and early delinquency buckets also saw an increase during the quarter, up 30 bps.
What India Shelter Finance Corporation Limited does
India Shelter Finance Corporation is a housing finance company that originates and services home loans and loans against property (LAP) for low- and middle-income, largely self-employed and first-time borrowers in Tier II and Tier III towns. It sources almost all its loans directly through its own branch staff and loan officers rather than external agents, and underwrites using an in-house, technology-driven business rule engine rather than outsourced credit bureaus alone. The company funds its lending book through a diversified mix of banks, financial institutions, National Housing Bank (NHB) refinance and market borrowings across multiple counterparties.
Segments
- Home Loans
- Loan Against Property (LAP)
- Branch network
- 307 branches
- Geographic footprint
- 15 states
- Customer base (cumulative)
- 1,38,371 customers
- Underwriting technology
- In-house Business Rule Engine analyzing 100+ data fields per customer/collateral for loan approval
- Credit rating
- AA- (Stable) — CARE, ICRA, India Ratings
- Mature branch base
- 179 of 307 branches operating for more than 3 years
Guidance record · Q1 FY27
what the last two calls moved 17 tracked 6 delivered 3 missed 8 open- Credit Cost delivered said Q3 FY25 Promised: Credit cost in a range of 40 to 50 bps Q1 FY27: 50 bps for the quarter, in line with the annual guidance of 40-50 bps.
- Digital Sourcing % missed said Q3 FY26 Promised: Reach 9% to 10% of disbursements in a couple of quarters Q1 FY27: No specific % of disbursement from digital channels reported. Previous quarter's value of ₹20-30 cr suggests the 9-10% target for Q1 FY27 was missed.
- Housing Loan to LAP Ratio delayed said Q3 FY25 Promised: Maintain 60:40 ratio Q1 FY27: HL ratio stable at 57% of AUM, target of 60% remains delayed.
All 17 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 19.7%, net profit up 20.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 282 | 304 | 327 | 361 | 369 +31% | 390 +28% | 411 +26% | 432 +20% |
| Net profit | 90 | 96 | 108 | 119 | 122 +36% | 124 +29% | 140 +30% | 143 +20% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.6% 1Y
1Y: ₹888.5 on 10 Sept 2025 → ₹652.25. High ₹918.95 (18 Nov 2025), low ₹628.9 (1 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.8%
- 7 Aug
- Q4 FY26
- +1.8%
- 4 May
- Q3 FY26
- −5.1%
- 9 Feb
- Q2 FY26
- −0.0%
- 4 Nov
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.
Financials, as filed
Revenue grew 35.9% a year over 2 years, FY24 to FY26.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹829 Cr | ₹1.2k Cr | ₹1.5k Cr |
| Interest | ₹289 Cr | ₹356 Cr | ₹445 Cr |
| Depreciation | ₹9 Cr | ₹12 Cr | ₹12 Cr |
| Net profit | ₹247 Cr | ₹377 Cr | ₹505 Cr |
| Net margin | 29.8% | 32.4% | 33.0% |
| ROE | 14.0% | 15.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹43 Cr | ₹44 Cr | ₹44 Cr | ₹54 Cr | ₹54 Cr | ₹54 Cr |
| Reserves | ₹894 Cr | ₹1.0k Cr | ₹1.2k Cr | ₹2.2k Cr | ₹2.9k Cr | ₹3.1k Cr |
| Borrowings | ₹1.5k Cr | ₹2.1k Cr | ₹3.0k Cr | ₹3.4k Cr | — | ₹6.2k Cr |
| Other liabilities | ₹41 Cr | ₹75 Cr | ₹66 Cr | ₹80 Cr | ₹173 Cr | ₹171 Cr |
| Total liabilities | ₹2.5k Cr | ₹3.2k Cr | ₹4.3k Cr | ₹5.8k Cr | ₹8.6k Cr | ₹9.6k Cr |
| Fixed assets | ₹15 Cr | ₹17 Cr | ₹24 Cr | ₹30 Cr | ₹31 Cr | ₹29 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹175 Cr | ₹59 Cr | ₹170 Cr | ₹480 Cr | ₹395 Cr |
| Other assets | ₹2.5k Cr | ₹3.0k Cr | ₹4.2k Cr | ₹5.6k Cr | ₹8.1k Cr | ₹9.2k Cr |
| Total assets | ₹2.5k Cr | ₹3.2k Cr | ₹4.3k Cr | ₹5.8k Cr | ₹8.6k Cr | ₹9.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +4.25 pp while promoters trimmed −1.86 pp. The shareholder count shrank 15% to 56,218.
- Promoters
- 46.0%
- FIIs
- 6.9%
- DIIs
- 21.9%
- Public
- 25.1%
Since Jun 2025
- DIIs +4.25 pp
- Promoters −1.86 pp
- Public −1.31 pp
How it drifted, 11 quarters
Over this window DIIs went from 12.6% to 21.9% — +9.3 pp.
Ownership split by quarter, oldest first. Dec '23: Promoters 48.3%, FIIs 5.8%, DIIs 12.6%, Public 33.2%.Mar '24: Promoters 48.3%, FIIs 5.3%, DIIs 16.1%, Public 30.3%.Jun '24: Promoters 48.2%, FIIs 5.2%, DIIs 17.5%, Public 29.1%.Sep '24: Promoters 48.1%, FIIs 5.8%, DIIs 21.9%, Public 24.2%.Dec '24: Promoters 48.0%, FIIs 6.2%, DIIs 20.7%, Public 25.1%.Mar '25: Promoters 47.9%, FIIs 6.9%, DIIs 18.5%, Public 26.6%.Jun '25: Promoters 47.9%, FIIs 8.0%, DIIs 17.7%, Public 26.5%.Sep '25: Promoters 47.7%, FIIs 8.0%, DIIs 21.0%, Public 23.3%.Dec '25: Promoters 47.6%, FIIs 7.5%, DIIs 20.7%, Public 24.2%.Mar '26: Promoters 47.5%, FIIs 6.9%, DIIs 21.4%, Public 24.2%.Jun '26: Promoters 46.0%, FIIs 6.9%, DIIs 21.9%, Public 25.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Kotak Mahindra Trustee Co Ltd A/C Kotak Rural Opportunities Fund Mutual fund newly disclosed 6.99% held
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund newly disclosed 2.29% held
- Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund newly disclosed 1.26% held
- Whiteoak Capital Balanced Advantage Fund Mutual fund +0.28 pp 1.98% held
- ICICI Prudential Life Insurance Company Limited Insurer +0.07 pp 1.37% held
- Setu AIF Trust LVF newly disclosed 0.00% held
The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of India Shelter Finance Corporation Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Aravali Investment Holdings | 26.11% | unchanged |
| Westbridge Crossover Fund, Llc | 19.94% | unchanged |
| Nexus Ventures Iii Limited VC / PE | 7.72% | unchanged |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Rural Opportunities Fund Mutual fund | 6.99% | newly disclosed |
| SBI Life Insurance Co. Ltd Insurer | 4.03% | −0.14 pp |
| Nexus Opportunity Fund Ii Ltd | 2.80% | unchanged |
| Goldman Sachs Funds - Goldman Sachs India Equity P Global fund house | 2.39% | unchanged |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund | 2.29% | newly disclosed |
| Whiteoak Capital Balanced Advantage Fund Mutual fund | 1.98% | +0.28 pp |
| Anil Mehta | 1.44% | unchanged |
| ICICI Prudential Life Insurance Company Limited Insurer | 1.37% | +0.07 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund | 1.26% | newly disclosed |
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.
Mutual funds in INDIASHLTR
Filings to Aug 2026
0 new, 1 added, 0 trimmed, 0 sold out — net +0.02 L shares (+0.1%).
- Held by funds
- ₹120 Cr
- 2 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹86 Cr · 0.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹86 Cr | +0.02 L | Jun '26 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹34 Cr | held | Dec '23 |
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 Aug 2026
1 added, 0 trimmed — net +2,160 shares (+0.1%)
- Funds are sitting on
- +11%
- vs est. average cost
- Held by funds
- ₹120 Cr
- 2 schemes · ≈ 2.0% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹86 Cr · 0.1% of that fund
- Longest holder
- Nippon India Value Fund
- 2y 9m · since Dec '23
Shares held by these funds −17%
Dec '23 18.48 L shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse India Shelter Finance Corporation Limited
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