Aadhar Housing Finance offers low-income/affordable housing loans. With an extensive network of 487 branches, it is present in 20 states and union territories.
The company is present in 20 states and union territories. No single state contributes over 15% to AUM. This makes it resilient to regional upheavals compared to peers.
The company maintained an average LTV (loan-to-value) of 57% during FY21-23. Its average GNPA (gross non-performing assets) ratio for the FY21-23 was just 1.3%.
Low-income housing finance grew only 3% annually (FY18-23) compared to 14% for the overall housing sector, due to low demand and unorganised financing.
Is the company's price-to-book ratio lower than its peers' average level? Yes. It is valued at a price-to-book ratio of 2.6, lower than its peers' median level of 3.47.