SRG Housing Finance LimitedQuarter Ended June 30, 2026 Results & Financial Update
SRG Housing Finance Limited: Quarter Ended June 30, 2026 standalone results and company financials – revenue ₹53.95 Cr, PAT ₹8.47 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore SRG Housing Finance Quarter Ended June 30, 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
SRG Housing Finance reported an Assets Under Management (AUM) of INR 10,764 Mn (INR 1,076.4 crore) for the quarter ended June 30, 2026, marking a robust year-on-year growth of 35.3% over Q1 FY26.
Total revenue from operations for Q1 FY27 stood at INR 53.95 crore, up 42.63% compared to INR 37.86 crore (derived from INR 3,786.39 lakh reported in Q1 FY25 comparable base) and down sequentially from INR 57.24 crore in Q4 FY26.
Net profit after tax (PAT) for the quarter reached INR 8.47 crore (INR 847.19 lakhs), representing a 6.78% increase year-on-year from INR 7.93 crore (INR 793.13 lakhs) in Q1 FY25, while dropping 8.40% sequentially from INR 9.25 crore in Q4 FY26.
Net Interest Income (NII) for Q1 FY27 grew 32.4% YoY to INR 270 Mn (INR 27.00 crore), underpinned by stable interest income expansion despite moderation in quarterly disbursement run-rates due to seasonal patterns.
Asset quality showed sequential resilience with Gross Non-Performing Assets (GNPA) improving slightly to 1.73% in Q1 FY27 from 1.85% in Q1 FY26 and 1.77% in Q4 FY26, while Net NPA stood steady at 0.63%.
Borrowing costs improved to 10.77% on an annualized basis, reflecting a 26 bps YoY reduction aided by an institutional rating upgrade to ACUITE A- (Stable), supporting the company's funding optimization efforts across its network of 38 lenders.
01 · Business model
What does SRG Housing Finance do?
Established in 1999 and headquartered in Udaipur, Rajasthan, SRG Housing Finance Limited is an early National Housing Bank (NHB)-registered housing finance company focused on providing affordable housing loans and loans against property (LAP) to underserved rural and semi-urban borrowers.
The company operates through a network of 96 branches spanning 6 states and 1 union territory, specifically Gujarat, Rajasthan, Maharashtra, Madhya Pradesh, Karnataka, Andhra Pradesh, and Delhi.
SRG serves over 25,000 customers with a workforce exceeding 1,000 employees, employing a predominantly in-house sourcing model where approximately 88% of sourcing is driven by field-based relationship managers.
The economic model relies on small-ticket, secured lending with low average LTVs (<50-52%), catering to self-employed individuals and informal income segments while maintaining high operational reliance on automated banking channels for collections.
02 · Historical context
What shaped the business before this quarter
Established in 1999, the company grew from an early NHB-registered housing finance entity in Rajasthan into a multi-state lender across western and southern India.
The company expanded its AUM from INR 6,016 Mn in FY24 to INR 10,422 Mn by the end of FY26, achieving a compound annual growth rate of approximately 36% over historical periods.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended June 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Total income | ₹54.03 Cr | ₹42.70 Cr | ₹57.33 Cr |
| Profit before tax | ₹10.01 Cr | ₹7.85 Cr | ₹11.59 Cr |
| Profit after tax | ₹8.47 Cr | ₹6.78 Cr | ₹9.25 Cr |
| EPS | ₹5.39 | ₹4.33 | ₹5.89 |
04 · Earnings & margin drivers
What drove earnings and margins
What drove net interest income and earnings
Interest income for the quarter rose to INR 509.82 Mn (INR 50.98 crore) from INR 371.31 Mn in Q1 FY26, driven by a 35.3% expansion in the loan portfolio AUM to INR 10,764 Mn.
Fees and commission income contributed INR 97.41 lakhs, while other operating income added INR 172.22 lakhs, bringing total operational revenue to INR 53.95 crore for the quarter.
NIM, spread, funding cost and credit cost
Cost of borrowings improved by 26 basis points YoY to an annualized 10.77% in Q1 FY27, supported by the ACUITE A- (Stable) credit rating upgrade.
Annualized Net Interest Margin (NIM) stood at 10.21% for Q1 FY27 compared to 10.48% in Q1 FY26 and 11.28% in Q4 FY26, reflecting portfolio yield adjustments.
Opex ratio improved significantly by 241 bps YoY to an annualized 6.69% in Q1 FY27 from 9.10% in Q1 FY26, enhancing overall cost-to-income efficiency.
05 · Loan growth, sanctions & disbursements
How the lending book is moving
Disbursements for Q1 FY27 stood at INR 672 Mn (INR 67.20 crore), while new loan approvals were recorded at INR 585 Mn.
The active customer base crossed 25,000 borrowers, supported by over 95% women co-borrowers highlighting a focus on household financial inclusion.
Average ticket sizes stood at INR 13.19 Lakhs for the quarter, with average loan tenures at 10.50 years.
06 · Portfolio mix & lending exposure
Where the loan book is concentrated
Segments and products
AUM distribution as of Q1 FY27 comprised 73% Housing Loans (INR 7,854 Mn) and 27% Loans Against Property or LAP (INR 2,911 Mn).
Self-employed borrowers accounted for 74.40% (INR 8,009 Mn) of the total AUM, while salaried customers represented 25.60% (INR 2,756 Mn).
Geography and market mix
Gujarat led the portfolio with 40.82% of AUM (INR 4,394 Mn, GNPA 1.37%), followed by Rajasthan at 36.15% (INR 3,891 Mn, GNPA 2.72%), Maharashtra at 10.89% (INR 1,172 Mn, GNPA 0.18%), Madhya Pradesh at 5.58% (INR 601 Mn, GNPA 2.55%), Karnataka at 3.31% (INR 356 Mn), and Andhra Pradesh at 3.25% (INR 350 Mn).
The company operated 96 branches across 6 states and 1 union territory during Q1 FY27.
07 · Asset quality & capital strength
How credit quality and balance-sheet capacity changed
Asset quality, stages and credit risk
Gross NPAs improved to 1.73% (INR 186 Mn) in Q1 FY27 from 1.85% in Q1 FY26, while Net NPAs stood at 0.63% (INR 67 Mn).
Stage 1 assets stood at INR 9,983 Mn (92.74% of gross assets), Stage 2 assets at INR 595 Mn (5.53%), and Stage 3 assets at INR 186 Mn (1.73%). Total impairment loss allowance stood at INR 152 Mn.
Capital adequacy, net worth and balance-sheet capacity
Capital Adequacy Ratio (CRAR) stood strong at 39.21% as of June 30, 2026, well above regulatory thresholds. Net worth reached INR 305.54 crore.
08 · Strategy & portfolio evolution
How the lending mix and strategic agenda are changing
The company continued advancing its SRG SRAJAN program to digitize and streamline operations, maintaining nearly 97% of EMI collections through automated banking channels.
09 · Reported developments
What changed operationally
The ACUITE A- (Stable) credit rating facilitated a 26 bps YoY reduction in borrowing costs to 10.77%.
AUM per branch grew ~31% YoY to INR 112.13 Mn, and AUM per employee rose to INR 10.66 Mn.
10 · Pressure points & risks
What is not going smoothly
Disbursements experienced a seasonal sequential moderation to INR 672 Mn in Q1 FY27 compared to INR 1,396 Mn in Q4 FY26.
11 · Funding & balance sheet
How funding, liquidity and capital support the loan book
Nearly 97% of collections were routed via automated banking channels, minimizing manual intervention and bolstering collection quality.
Capital allocation & funding
Total outstanding debt capital/borrowings stood at INR 892.89 crore as of June 30, 2026, backed by 38 active institutional lenders including public sector banks, private banks, and financial institutions.
Secured term loans formed 91% of borrowings, followed by NCDs at 7% and NHB refinance at 2%.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
ESOP Allotment
During Q1 FY27, the company allotted 4,400 equity shares to employees pursuant to the exercise of ESOPs at a price of INR 200 per share.
Reported update
Security Cover Compliance
The company maintained a security cover of 110% for its listed secured non-convertible debentures as required under SEBI regulations.
13 · Previous-quarter changes
What changed since the previous quarter
AUM increased sequentially by 3.3% from INR 10,422 Mn in Q4 FY26 to INR 10,764 Mn in Q1 FY27.
14 · Key Q&A
The quarter, answered directly
What does SRG Housing Finance do?
Established in 1999 and headquartered in Udaipur, Rajasthan, SRG Housing Finance Limited is an early National Housing Bank (NHB)-registered housing finance company focused on providing affordable housing loans and loans against property (LAP) to underserved rural and semi-urban borrowers.
What is the clearest takeaway from Quarter Ended June 30, 2026?
SRG Housing Finance reported an Assets Under Management (AUM) of INR 10,764 Mn (INR 1,076.4 crore) for the quarter ended June 30, 2026, marking a robust year-on-year growth of 35.3% over Q1 FY26.
What drove earnings or loan-book movement?
Interest income for the quarter rose to INR 509.82 Mn (INR 50.98 crore) from INR 371.31 Mn in Q1 FY26, driven by a 35.3% expansion in the loan portfolio AUM to INR 10,764 Mn.
What mattered most for margins, funding or credit cost?
Cost of borrowings improved by 26 basis points YoY to an annualized 10.77% in Q1 FY27, supported by the ACUITE A- (Stable) credit rating upgrade.
What changed operationally beyond the headline numbers?
Gross NPAs improved to 1.73% (INR 186 Mn) in Q1 FY27 from 1.85% in Q1 FY26, while Net NPAs stood at 0.63% (INR 67 Mn).
What are the main pressure points disclosed for the quarter?
Disbursements experienced a seasonal sequential moderation to INR 672 Mn in Q1 FY27 compared to INR 1,396 Mn in Q4 FY26.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Asset Quality Tracking: Monitor the trajectory of Gross NPA (1.73%) and Stage 2 asset movements across rural and semi-urban branches.
- 02
Disbursement Momentum: Track quarterly disbursement growth recoverability following seasonal lows in Q1 FY27.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.