SRG Housing Finance Ltd

NCD Interest and Redemption Details

• ISIN INE559N07066; issue size 2,600 NCDs (INR 1,00,000 each) totaling INR 26 Cr.
• Interest amount due: Rs 2,196,977.38; frequency: monthly.
• Record date: 09-08-2026; due date: 24-08-2026; actual payment: 24-08-2026.
• Interest paid: Rs 1,989,606.38; last payment date: 24-07-2026.
• Redemption: partial, by face value; pro-rata basis.
• Redemption date: due 24-08-2026; actual: 24-08-2026; amount redeemed: Rs 3,939,393.97.
• Outstanding amount after redemption: Rs 220,606,060.61.

Conversion approval

• In-principle approved voluntary conversion from HFC to NBFC-ICC, subject to RBI and other approvals.
• Diversify product portfolio to Home Loans, LAP, Business Loans, and MSME Loans.
• Management authorised to file applications with RBI, NHB, and other relevant authorities.
• Until approvals are obtained, company will continue operating as an HFC.
• Board meeting on Aug 20, 2026, duration 12:15-13:10.

NBFC-ICC conversion plan

• Board considered in-principle NBFC-ICC conversion at Aug 20, 2026 meeting, subject to RBI approvals.
• Conversion aims to diversify lending (Home Loans, LAP, Business, MSME); management to file RBI/NHB applications.
• Until approvals are received, the company will continue to operate as a Housing Finance Company.

Company overview

• SRG is an NHB-registered HFC focused on rural and semi-urban borrowers.

Operational highlights

• AUM stood at INR 10,764 Mn in Q1 FY27, up 35% YoY.
• NII rose to INR 270 Mn, up 32% YoY.
• GNPA 1.73%, NNPA 0.63%.
• Borrowing costs declined 26 bps YoY to 10.77%.
• AUM per branch and per employee rose ~31% YoY.

Financial performance

• Total net income for Q1-FY27 was INR 301 Mn.
• PAT was INR 85 Mn, up 25% YoY.
• Disbursements INR 672 Mn; New approvals INR 585 Mn.
• Gross yield 19.23% vs 21.86% prior year.
• NIM 10.21%; ROAA 2.83%; ROAE 11.25%.
• Leverage ratio 2.92x.

Asset quality & portfolio

• GNPA 1.73%; NNPA 0.63% for Q1-FY27.
• Average LTV ~52% across housing and LAP.
• AUM by state: Gujarat 40.82%, Rajasthan 36.15%, Maharashtra 10.89%.
• Self-employed borrowers comprise 74.40% of AUM.

Capital & liquidity

• Cash/bank balance INR 66 Mn; total liquidity INR 925 Mn.
• Investments INR 824 Mn; undrawn CC/OD INR 35 Mn.
• Lender base: 4 PSBs, 13 private banks, 19 NBFCs.
• ACUITE rating upgrade to A- (Stable).

Strategic priorities & outlook

• Rating upgrade improved funding efficiency and cost of funds.
• Focus on deep underwriting, localized execution, disciplined risk management.
• Expansion into newer markets and asset growth remains a priority.

Dematerialisation processing and listing

• Dematerialisation requests processed and confirmed to depositories as accepted or rejected.
• Securities dematerialised listed on the relevant stock exchanges.
• Physical certificates dematerialised were mutilated and cancelled; depository name substituted as registered owner within prescribed timelines.

Business Overview

• Core business: long-term housing loans for rural and semi-urban, self-employed borrowers.
• HL comprises 72% of AUM; LAP accounts for about 28–29%.
• 96 branches across 6 states and 1 union territory.
• 25,000+ customers; 980+ employees; field-based underwriting.
• Launched SRG SRAJAN process reengineering; technology-led operations underway.
• NHB license secured; converted to public company; listed on BSE/NSE.
• ACUITE rating upgraded to A- Stable.
• AUM rose to INR 1,042 Cr as at Mar-26.

Key Operational Highlights

• AUM at INR 1,042 Cr as of Mar-26; 96 branches.
• Expanded to four southern markets; footprint across Rajasthan, Gujarat, Karnataka, AP.
• 36 lenders; funding mix: PSU banks 53%, private banks 39%, NCDs 8%.
• AUM mix: HL 72%; LAP 28–29%; avg HL ticket INR 16.99 Lakh.
• GNPA HL 1.64%; NNPA HL 0.60%; GNPA LAP 2.10%.

Financial Performance

• Total Net Income: INR 57 Cr FY23 to INR 122 Cr FY26.
• PAT: INR 17 Cr FY23 to INR 33 Cr FY26.
• Interest income rose from INR 81 Cr FY23 to INR 176 Cr FY26.
• Disbursements FY26: INR 444 Cr; AUM up to INR 1,042 Cr.
• ROAE 64.56%; ROAA 10.91% FY26.

Capital Structure & Liquidity

• Borrowings: INR 788 Cr; Debt securities: INR 69 Cr; total financial liabilities: INR 873 Cr.
• Cash & bank balance: INR 6.8 Cr; investments: INR 72.9 Cr; undrawn sanctions: INR 61.5 Cr; total liquidity: INR 144.7 Cr.
• Equity: share capital INR 16 Cr; total equity INR 297 Cr.
• Rating upgrade: ACUITE A- Stable.

Strategic Priorities & Outlook

• Industry growth projected at 20–21% through FY27.
• Geographic expansion: deepen Rajasthan/Gujarat; scale in Karnataka and Andhra Pradesh.
• Fund diversification via Acuité upgrade enabling A-rated bond issuances.
• Technology maturation: SRG SRAJAN; digital sourcing; analytics.

Risks & Mitigation

• Regulatory and macro risks acknowledged; mitigated by diversified funding and underwriting discipline.
• Forward-looking statements disclaimer; actual results may differ.

Governance & Leadership

• Leadership team with long tenure; MD Archis Jain and CFO Ashok Modi.
• No governance changes disclosed in this investor presentation.