Intimation of Earnings Call transcript on Unaudited financial results for the quarter and half year ended September 30, 2026

November 11, 2026 To, To, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, C-1, Block G, Bandra Kurla Mumbai- 400001 Complex, Bandra (E), Scrip Code: 544044 Mumbai – 400 051 NSE Symbol: INDIASHLTR Subject: Transcripts of the Earnings Conference Call on the Unaudited Financial Results for the quarter and half-year ended September 30, 2026. Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcripts of the Earnings Conference Call on the Unaudited Financial Results for the quarter and half-year ended September 30, 2026, held on November 06, 2026. The same have also been made available on the website of the Company. The transcripts can be accessed at the following link: https://www.indiashelter.in/investor-relations We request you to kindly take the information on your record Thanking you, Yours faithfully, For India Shelter Finance Corporation Limited Mukti Chaplot Company Secretary and Compliance Officer M. No.: 38326 India Shelter Finance Corporation Limited Registered office – 6th Floor, Plot No 15, Institutional Area, Sector 44, Gurgaon, Haryana-122002 CIN: L65922HR1998PLC042782, Phone No +91-124-4131800 E-mail: customer.care@indiashelter.in, Website: www.indiashelter.in “India Shelter Finance Corporation Limited Q2FY27 Earnings Conference Call” November 06, 2026 MANAGEMENT: MR. RUPINDER SINGH – MD & CEO MR. ASHISH GUPTA – CFO MR. RAHUL RAJAGOPALAN – HEAD, INVESTOR RELATIONS This is a transcription of the earnings call conducted on 6th November 2026. The audio recording can be accessed using the following link, https://www.indiashelter.in/investor-relations DISCLAIMER: Transcript may contain transcription errors. The transcript has been edited for clarity, readability, etc. The Company takes no responsibility of such errors, although an effort has been made to ensure high level of accuracy. In case of discrepancy, the audio recording will prevail. Page 1 of 18 India Shelter Finance Corporation Limited November 06, 2026 Moderator: Ladies and gentlemen, good day, and welcome to India Shelter Q2 FY27 Earnings Conference Call hosted by ICICI Securities Limited. As a reminder, all participant lines will be in the listen- only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Renish Bhuva from ICICI Securities Limited. Thank you, and over to you, sir. Renish Bhuva: Yes. Thank you. Good morning, everyone, and welcome to India Shelter Q2 FY27 Earnings Call. On behalf of ICICI Securities, I would like to thank India Shelter management team for giving us the opportunity to host this call. Today, we have with us the entire management team of India Shelter presented by Mr. Rupinder Singh, MD and CEO; Mr. Ashish Gupta, CFO; and Mr. Rahul Rajagopalan, Head of Investor Relation. I will now hand over the call to Rupinder ji for his opening remarks and then we open the call for Q&A. Over to you, sir. Rupinder Singh: Thank you. Good morning, everyone. On behalf of the company, I extend a warm welcome to all of you. Thank you for joining us on the call today. Coming to this quarter's highlights, I'm pleased to share that India Shelter has delivered another good quarter of profitable and quality led growth. During the quarter, we continued to see healthy demand in the affordable housing segment, along with good improvement in productivity. Gross AUM has reached Rs. 11,997 crores, a normalized growth of 26% year-on-year, and we remain well on track to achieve our FY30 Gross AUM target of Rs. 30,000 crores. Disbursement picked up well during the quarter to Rs. 1,126 crores, a growth of 21% year-on-year, and we are seeing this momentum continue into the second half. In terms of profitability, we have sequentially delivered more than 17% of RoE for the last 6 consecutive quarters, despite the leverage of 3 times which gives us significant headroom for growth. Our PAT for H1 grew 20% year-on-year, and operational PAT normalizing for lower DA during the period grew to 28% year-on-year. Our net worth now stands at Rs. 3,401 crores. Moving on to asset quality and collections. Our collection efficiency improved to 98% from 97% last quarter, with Stage 3 and 30 plus being stable at 1.5% and 5.2%. We are seeing a good progress on collections and expect legal actions to start yielding results as we enter into second half of the year. As we continue to build an organization with a tech-driven approach, we are calibrating our processes using digital first and AI tools to improve productivity and efficiencies. Technology has always been a part of our DNA; we were amongst early lenders to adopt Salesforce way back in 2012. To strengthen these initiatives of engineering and AI, we have recently hired senior Page 2 of 18 India Shelter Finance Corporation Limited November 06, 2026 resources from leading tech focused companies. As I mentioned on previous calls, we have embarked on our digital sourcing journey, and I'm happy to share that the disbursement through digital sourcing have grown from 4% in Q2FY26 to 7% in Q2FY27. We plan to scale this up significantly in the coming quarters. Lastly, on the overall sectoral outlook, affordable housing in India continues to gain momentum, supported by urbanization, rising incomes and government programs like Pradhan Mantri Awas Yojana. With our distribution reach, underwriting experience and growing digital capabilities, we believe we are well positioned to build a large, sustainable business in this segment in coming years. Given the progress we have made in H1, we remain confident of delivering on our FY27 guidance, which I would like to reiterate: • Branch addition of 40-45 for this year. • Maintaining spreads of more than 6% in the medium term. • Credit cost of 40 bps to 50 bps. • Gross AUM growth of around 25% to 30%. Now, I would like to hand over the call to Ashish Gupta, CFO, to take you through the financial metrics. Ashish ji, over to you. Ashish Gupta: Thanks, Rupinder ji. Good morning, friends. Let me take you through key financial numbers. During the quarter, we have delivered strong disbursement number of Rs. 1,126 crores, higher by 21% year-on-year basis. If you look at quarter-on-quarter basis, disbursement is up by 8%, business clearance. Our gross managed assets as of September ‘26 is Rs. 11,997 crores. Year- on-year growth in Gross AUM is 27%, adjusted of impact of transition made disbursement booking in Q1. Our portfolio yield is 14.8% stable quarter-on-quarter basis. Our H1 disbursement yield is at par with our portfolio yield. Our finance cost is 8.2% stable quarter-on-quarter basis. Our H1FY27 marginal cost is 8.1% lower than our bucket cost of funds. Our borrowing profile continues to be diversified with more than 30 counterparties. Share of NHB funding is stable at 14%, average borrowing tenure is more than 8 years, which is co-terminus with our behavioral tenure of loans. On liquidity side, we are comfortably placed with liquidity of more than Rs. 700 crores and undraw sanction of more than Rs. 1,400 crores. Our ALM is positive across all the buckets. If you look at our net interest margin, it is stable above 9%. In absolute terms, NIM for the quarter is up by 27% on the back of growth in Gross AUM, and 20 bps improvement in the spread year- on-year basis. Coming to Opex. Our opex to AUM for the quarter is stable at 4%. Cost to income for the quarter is stable around 36%. Page 3 of 18 India Shelter Finance Corporation Limited November 06, 2026 On asset quality side, our collection efficiency is back to 98% against 97% in previous quarter. 30-plus and GNPA as stable quarter-on-qua [Showing first 8,000 characters — download PDF for full document]