SAMMAANCAP
Sammaan Capital share price & financials
- Price
- ₹163.62
- Market cap
- ₹17.9k Cr
- Sector
- Financial Services
- Calls analysed
- 6
Sammaan Capital Limited Q1 FY27
What went well
- Assets Under Management (AUM) increased to INR56,239 crores.
- Q1 FY27 Profit After Tax (PAT) of INR243 crores.
- Net NPA improved to 0.15% from previous levels.
What Sammaan Capital Limited does
Sammaan Capital Limited (formerly Indiabulls Housing Finance) is a non-deposit-taking housing finance company that originates and services home loans, loan-against-property, and secured business/wholesale loans for individuals, SMEs and corporates. It earns primarily through interest income on its loan book, supplemented by fee/commission income and gains from selling down loans via co-lending and securitisation partnerships with banks and NBFIs. In FY26 the company underwent a change of control, with International Holding Company PJSC (IHC), the Abu Dhabi-listed conglomerate, becoming its strategic promoter and largest shareholder. The legacy wholesale loan book of subsidiary Sammaan Finserve Limited was transferred onto Sammaan Capital's own balance sheet as part of a portfolio reset.
Segments
- Residential housing finance (incl. affordable housing)
- Secured business loans & home equity loans
- CRE, project loans, plot loans & LRD
- Other loans
- Co-lending / loan sell-down partner banks & NBFIs
- 24
- Loan product categories offered
- 4 (residential/affordable housing, secured business & home equity loans, CRE/project/plot loans, other unsecured loans)
- Corporate offices
- Mumbai and Gurugram, with registered office in New Delhi
- Strategic promoter
- International Holding Company PJSC (IHC), Abu Dhabi
- Operating history
- Over two decades as a mortgage and secured lending institution
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 2 delivered 2 missed 15 open- Dividend Payout Ratio went quiet said Q4 FY26 Promised: At least 25%, targeting 40% of profits Q1 FY27: No mention of the dividend policy in this quarter's communication.
- Branch Network Size revised down said Q4 FY25 Promised: 350 branches by FY27 Q1 FY27: Revised near-term target to 270 branches by year-end (FY27) and a new target of 800 by end of FY28. This is a downward revision from the previous long-term target of 1,600 branches and also misses the original FY27 target of 350.
- Legacy AUM Target delivered said Q1 FY26 Promised: INR 15,000 crores by FY26 end Q4 FY26: Company announced an 'opening AUM' of INR 53,160 crores with 0 gross and 0 net NPA, effectively ring-fencing or resolving the legacy book, thus meeting the target of bringing it down.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 31.8%, net profit down 23.9% 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 | 2,066 | 1,902 | 1,880 | 2,192 | 2,063 −0% | 2,046 +8% | 1,215 −35% | 1,494 −32% |
| Net profit | 111 | 282 | 294 | 297 | 275 +148% | 285 +1% | -8,455 −2976% | 226 −24% |
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 +7.7% 1Y
1Y: ₹136.74 on 10 Sept 2025 → ₹147.3. High ₹189.93 (3 Nov 2025), low ₹130 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.6%
- 13 Aug
- Q4 FY26
- +2.6%
- 20 May
- Q3 FY26
- +1.2%
- 4 Feb
- Q2 FY26
- +2.3%
- 31 Oct
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 fell 4.8% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹8.7k Cr | ₹7.4k Cr | ₹7.8k Cr | ₹7.5k Cr |
| Interest | ₹5.6k Cr | ₹4.8k Cr | ₹4.4k Cr | ₹5.3k Cr |
| Depreciation | ₹86 Cr | ₹81 Cr | ₹78 Cr | ₹78 Cr |
| Net profit | ₹1.1k Cr | ₹991 Cr | ₹944 Cr | ₹-7.6k Cr |
| Net margin | 13.0% | 13.4% | 12.2% | -101.1% |
| Cash from operations | ₹1.8k Cr | ₹30 Cr | ₹6.7k Cr | ₹-5.1k Cr |
| Free cash flow | ₹1.7k Cr | ₹-24 Cr | ₹6.7k Cr | ₹-5.1k Cr |
| ROE | 5.0% | 6.0% | 5.0% | -5.0% |
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 | ₹92 Cr | ₹94 Cr | ₹94 Cr | ₹115 Cr | ₹163 Cr | ₹232 Cr |
| Reserves | ₹15.4k Cr | ₹15.6k Cr | ₹15.9k Cr | ₹17.9k Cr | ₹22.2k Cr | ₹19.7k Cr |
| Borrowings | ₹63.1k Cr | ₹56.9k Cr | ₹47.5k Cr | ₹43.6k Cr | — | ₹48.1k Cr |
| Other liabilities | ₹4.9k Cr | ₹3.5k Cr | ₹4.6k Cr | ₹4.2k Cr | ₹3.2k Cr | ₹3.1k Cr |
| Total liabilities | ₹83.5k Cr | ₹76.1k Cr | ₹68.1k Cr | ₹65.8k Cr | ₹71.1k Cr | ₹71.1k Cr |
| Fixed assets | ₹229 Cr | ₹263 Cr | ₹365 Cr | ₹284 Cr | ₹363 Cr | ₹276 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹10.0k Cr | ₹10.2k Cr | ₹9.9k Cr | ₹9.9k Cr | ₹14.8k Cr | ₹18.3k Cr |
| Other assets | ₹73.2k Cr | ₹65.6k Cr | ₹57.9k Cr | ₹55.6k Cr | ₹56.0k Cr | ₹52.6k Cr |
| Total assets | ₹83.5k Cr | ₹76.1k Cr | ₹68.1k Cr | ₹65.8k Cr | ₹71.1k Cr | ₹71.1k 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, promoters added +28.34 pp while the public trimmed −25.01 pp. The shareholder count shrank 9% to 3,99,460.
- Promoters
- 28.3%
- FIIs
- 19.6%
- DIIs
- 7.9%
- Government
- 0.1%
- Public
- 42.7%
- Others
- 1.4%
Since Jun 2025
- Promoters +28.34 pp
- Public −25.01 pp
- FIIs −4.80 pp
How it drifted, 12 quarters
Over this window promoters went from 0.0% to 28.3% — +28.3 pp.
Ownership split by quarter, oldest first. Sep '23: FIIs 22.4%, DIIs 16.1%, Public 59.8%, Others 1.8%.Dec '23: FIIs 23.4%, DIIs 8.5%, Public 66.3%, Others 1.7%.Mar '24: FIIs 19.3%, DIIs 7.2%, Public 71.8%, Others 1.7%.Jun '24: FIIs 19.1%, DIIs 6.6%, Public 72.5%, Others 1.7%.Sep '24: FIIs 19.8%, DIIs 6.3%, Public 72.2%, Others 1.7%.Dec '24: FIIs 19.5%, DIIs 6.7%, Public 72.0%, Others 1.7%.Mar '25: FIIs 24.7%, DIIs 5.9%, Public 67.5%, Others 1.9%.Jun '25: FIIs 24.4%, DIIs 6.0%, Public 67.7%, Others 1.9%.Sep '25: FIIs 19.1%, DIIs 16.8%, Public 62.2%, Others 1.9%.Dec '25: FIIs 24.9%, DIIs 14.3%, Government 0.1%, Public 58.8%, Others 1.9%.Mar '26: FIIs 46.2%, DIIs 12.1%, Government 0.5%, Public 39.8%, Others 1.4%.Jun '26: Promoters 28.3%, FIIs 19.6%, DIIs 7.9%, Government 0.1%, Public 42.7%, Others 1.4%.
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.
- Vanguard Total International Stock Index Fund Global fund house newly disclosed 1.33% held
- Vanguard Emerging Markets Stock Index Fund Global fund house newly disclosed 1.26% held
- Morgan Stanley Asia (Singapore) Pte. - Odi Foreign bank / ODI newly disclosed 1.19% held
- Societe Generale - Odi Foreign bank / ODI +1.03 pp 2.60% held
- BNP Paribas Financial Markets Global fund house +0.54 pp 1.85% 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 Sammaan Capital Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Avenir Investment RSC Ltd | 28.34% | −0.07 pp |
| Life Insurance Corporation Of India Insurer | 3.31% | unchanged |
| Societe Generale - Odi Foreign bank / ODI | 2.60% | +1.03 pp |
| BNP Paribas Financial Markets Global fund house | 1.85% | +0.54 pp |
| Blackrock Global Funds World Financials Fund Global fund house | 1.84% | unchanged |
| Vanguard Total International Stock Index Fund Global fund house | 1.33% | newly disclosed |
| Vanguard Emerging Markets Stock Index Fund Global fund house | 1.26% | newly disclosed |
| Star Funds S.A., Sicav-Sif - Star International Fu FPI fund | 1.22% | unchanged |
| Morgan Stanley Asia (Singapore) Pte. - Odi Foreign bank / ODI | 1.19% | newly disclosed |
| Alrox Enterprises Private Limited | 1.08% | unchanged |
| Blackrock Startegic Funds - Blackrock Emerging Mar Global fund house | — | off the list |
| Bofa Securities Europe Sa | — | off the list |
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 SAMMAANCAP
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.22 L shares (+1.1%).
- Held by funds
- ₹28 Cr
- 5 schemes
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹18 Cr · 0.5% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹18 Cr | +0.15 L | Sep '21 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹9 Cr | +0.07 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 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
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
4 added, 1 trimmed — net +21,933 shares (+1.1%)
- Funds are sitting on
- +6%
- vs est. average cost
- Held by funds
- ₹28 Cr
- 5 schemes · ≈ 0.18% of the company
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹18 Cr · 0.5% of that fund
Shares held by these funds −79%
Aug '23 19.22 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Sammaan Capital Limited
Guides on how to read this kind of business and the numbers that matter.