Bajaj Housing Finance share price: Stock up 4.2% as net profit rises 21% to ₹451 crore

In the early trade, the stock surged as much as 4.2% to ₹142.33 apiece on the National Stock Exchange (NSE). At 9:31 am, the scrip was trading at ₹138.27, up 1.24%.

The company's market capitalisation stands at ₹1,15,153.28 crore.

Bajaj Housing Finance Q2 results

Total income surged 26% to ₹2,410 crore in Q2 FY25, compared to ₹1,912 crore in the year-ago period, Bajaj Housing Finance said in an exchange filing.

The company earned ₹2,227 crore in interest income during the quarter under review, up 24.9% from ₹1,782 crore in Q2 FY24.

The housing finance company's asset quality worsened, with gross NPAs (Non-performing assets) plunging to 0.29% of the gross loans by the end of September 30, 2024, from 0.24% a year ago.

Similarly, bad loans or NPAs increased to 0.12% from 0.09% in the same quarter of the previous fiscal year.

As of September 30, 2024, the capital adequacy ratio (including Tier-II capital) was 28.98%.

The company made an initial public offering (IPO) during the period ended September 30, 2024, for 93,71,42,856 shares of ₹10 each, comprising a fresh issuance of 50,85,71,428 shares and 42,85,71,428 shares offered for sale (OFS) by selling shareholders, it said.

It said the equity shares were issued at a price of ₹70 per equity share, including a share premium of ₹60 per equity share.

Bajaj Housing Finance shares debuted at ₹150 apiece, a premium of 114.2%, on the NSE and the BSE.

Out of the IPO proceeds, the company is yet to deploy ₹1,500 crore as of September 30 and is likely to be utilised during October 2024.