Most valuable housing companies: How the sector now stacks up after Bajaj Housing Finance listing

Bajaj Housing Finance shares surged nearly 136% and more than doubled the IPO investors’ money with a bumper listing on September 16. Its shares were listed at Rs 150 a piece on both NSE and BSE, with a premium of 114% over the IPO issue price.

However, the strong up-move continued and the stock surged 9.99% over its listing price and hit Rs 164.99 on listing day, marking the total gains of 135.7% for the IPO investors. Bajaj Housing Finance shares were allotted to successful IPO bidders on September 13 at an issue price of Rs 70 per share. The IPO got a record-breaking subscription worth Rs 3.23 lakh crore last week.

Data available from ACE Equity shows that there are currently 24 listed companies in housing finance sector. Here are some of the key housing finance companies in India, their financial performances, and how the housing finance sector now stacks up after listing of Bajaj Housing Finance.

1. Bajaj Housing Finance
Bajaj Housing Finance emerged as a major player in the housing finance sector, backed by the Bajaj Group. After a blockbuster listing, Bajaj Housing Finance became the most valuable housing finance company with an market capitalisation (m-cap) of Rs. 1.37 lakh crore. Per the latest report on September 16, 2024, Bajaj Housing Finance shares were trading at Rs 164.49.
In FY24, the company saw its profit after tax (PAT) grow by 38% year on year (YoY), reaching Rs 1,731.22 crore. Its total income for the year 2023-24 stood at Rs 7,617.71 crore, reflecting the company’s robust financial health. The company’s strong growth and steady performance make it one of the major players in the housing finance market.

2. Housing & Urban Development Corporation (HUDCO)
HUDCO is a public sector company (PSU) specialising in housing and urban development financing. In 2024, HUDCO reported a PAT growth of 24%, with profits of Rs 2,116.69 crore and a total income of Rs 8,156.61 crore. As of September 13, 2024, its m-cap was Rs 50,538 crore, and its share price stood at Rs 252.45. As a PSU, HUDCO plays an important role in financing affordable housing and infrastructure projects, contributing significantly to India’s urban development.

3. LIC Housing Finance
LIC Housing Finance, another public sector company, had a remarkable year in 2024 with an impressive PAT growth of 65%. The company’s total income reached Rs 27,277.80 crore, and its profits amounted to Rs 4,759.56 crore. As of September 2024, LIC Housing Finance’s m-cap was Rs 39,792 crore, with each share priced at Rs 723.40.

4. PNB Housing Finance
PNB Housing Finance, also a PSU, posted strong numbers in 2024, with a 44% growth in profits. The company’s total income was Rs 7,240.36 crore, and it reported a PAT of Rs 1,508.01 crore. As of September 13, 2024, the m-cap of PNB Housing Finance stood at Rs 29,499.8 crore, and its share price was Rs 1,135.65. Known for its vast reach and trusted brand name, PNB Housing Finance continues to serve a broad customer base across India.

5. Aadhar Housing Finance
Aadhar Housing Finance, promoted by Blackstone, is a rising star in the housing finance space. In 2024, the company achieved a 38% growth in PAT, recording profits of Rs 749.64 crore. Its total income for the year was Rs 2,587 crore. Aadhar Housing Finance had an m-cap of Rs 19,893 crore, and its share price was Rs 462.90.

6. Aptus Value Housing Finance India
Aptus Value Housing Finance saw a PAT growth of 22% in 2024, with profits of Rs 611.90 crore and a total income of Rs 1,416.84 crore. As of September 2024, its m-cap was Rs 16,783 crore, and its share price was Rs 336.10. Aptus focuses on lending to small borrowers, especially in semi-urban and rural areas.

7. Aavas Financiers
Aavas Financiers reported a PAT growth of 14% in 2024. The company’s profits were Rs 490.69 crore, with a total income of Rs 2,020.30 crore. As of September13, 2024, Aavas had an m-cap of Rs 14,617 crore, and its share price was Rs 1,847.00. Aavas Financiers has established itself as a key player in financing low-and middle-income households, particularly in rural and semi-urban areas.

8. Sammaan Capital
Sammaan Capital, promoted by Indiabulls, had a modest PAT growth of 8% in 2024, with profits of Rs 1,216.97 crore. Its total income was Rs 8,738.88 crore. The company’s market capitalization stood at Rs 12,548.47 crore as of September 2024, with each share priced at Rs 168.50. Despite slower growth compared to others, Sammaan Capital continues to play a role in the housing finance sector.

9. Can Fin Homes
Can Fin Homes, another PSU, reported a 21% growth in PAT in 2024. The company’s profits were Rs 750.70 crore, with a total income of Rs 3,524.69 crore. As of September 2024, Can Fin Homes had a market cap of Rs 12,405.30 crore, and its share price was Rs 931.65. Can Fin Homes is known for offering affordable home loans, primarily targeting the salaried and middle-income groups.

10. Home First Finance Company India
Home First Finance, posted a PAT growth of 34% in 2024. The company earned profits of Rs 305.72 crore, with a total income of Rs 1,156.55 crore. Its m-cap was Rs 10,721 crore, and its share price was Rs 1,203.70.