Transcript for the Earnings Conference call for the quarter ended June 30, 2026

Date: August 4, 2026 To, To, BSE Limited National Stock Exchange of India Limited Listing Dept. / Dept. of Corporate Services, Listing Dept., Exchange Plaza, 5th Floor, Plot No. Phiroze Jeejeebhoy Towers, Dalal Street, C/1, G. Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001. Mumbai - 400 051 Security Code: 544176 Security ID : AADHARHFC Symbol: AADHARHFC Kind Attn.: Listing Corporate Relationship Department Sub:- Intimation under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”)-Transcript Dear Sir/Madam, Pursuant to Regulation 30 read with Schedule III of SEBI LODR Regulations and with reference to our prior intimation filed in this regard please find enclosed the transcript of the Earnings Conference Call on the financial performance of the Company for the quarter ended June 30, 2026, held on Friday, July 31, 2026. The above information is also available on the website of the Company and can be accessed at: https://aadharhousing.com/investor-relations/financial-results The above is for your information, records and dissemination please. Thanking you. For Aadhar Housing Finance Limited Harshada Pathak Company Secretary and Compliance Officer ACS: 19534 Encl.: As above CC:- Debenture Trustees- 1. Catalyst Trusteeship Limited 2. Beacon Trusteeship Limited 3. IDBI Trusteeship Services Limited “Aadhar Housing Finance Limited Q1 FY27 Earnings Conference Call” July 31, 2026 MANAGEMENT: MR. RISHI ANAND – MANAGING DIRECTOR – AADHAR HOUSING FINANCE LIMITED MR. RAJESH VISWANATHAN – CHIEF FINANCIAL OFFICER – AADHAR HOUSING FINANCE LIMITED MR. SANJAY MOOLCHANDANI – HEAD-INVESTOR RELATIONS AND FINANCIAL PLANNING – AADHAR HOUSING FINANCE LIMITED MR. DEO SHANKAR TRIPATHI – EXECUTIVE VICE CHAIRMAN – AADHAR HOUSING FINANCE LIMITED MODERATOR: MR. SANKET CHHEDA – DAM CAPITAL Page 1 of 15 Aadhar Housing Finance Limited July 31, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Aadhar Housing Finance Q1 FY27 Earnings Conference Call hosted by DAM Capital. As a reminder, all participants' lines will be in listen- only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this 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 over the conference to Mr. Sanket Chheda from DAM Capital. Thank you, and over to you, sir. Sanket Chheda: Yes. Very good evening to all of you. We have with us management team of Aadhar to discuss the Q1 results. From the management side, we have Mr. Rishi Anand, MD; Mr. Rajesh Viswanathan, who is the CFO; and Mr. Sanjay Moolchandani, who is the Head of FPA and Investor Relations. We also have Deo Shankar Tripathi, who is Executive Vice Chairman. Without further ado, I'll hand the call over to Rishi sir for his opening remarks. We'll follow that up with question and answers. Over to you, sir. Rishi Anand: Thank you so much, Sanket, and a very good evening to all of you. Thank you for joining us today to discuss Aadhar Housing Finance performance for first quarter FY27. We start the new financial year on a steady note continuing, the momentum we had built through FY26. As you would recall, we had closed the last year, crossing a very important milestone of INR30,000 crores in AUM. And in quarter 1 FY27 has been all about getting that execution rigor forward with disciplined growth, calibrated risk and continued investment in productivity across our branch network. Our AUM as of 30th June 2026, stood at INR31,364 crores, a growth of 18% Y-o-Y. For Q1 FY27, our disbursement of INR2,036 crores is reported on check clearance basis. Disbursement on check handover stands at INR2,359 crores, which is on a like-to-like basis growth of 19% Y- o-Y. Effective quarter 1, we have taken a step of transitioning our loan accounting to cheque clearance basis model of disbursement recognition, which is a forward-looking approach and a significant milestone in our commitment to governance, transparency and putting customer at the forefront. Just reiterating, if we were to compare disbursement on cheque handover basis, then the disbursement in quarter 1 FY27 is INR2,359 crores, which is a growth of 19% on a Y-o-Y basis. This transition needed not only systemic changes, but also an element of the entire operating model. We have taken this step. As we move ahead, we are firm and stick with our medium- term guidance of 20% AUM growth, 20% profit growth, 17% to 18% disbursement growth for the full year. Next 3 quarters, we have targeted disbursement growth of upward of 20%. Our portfolio continues to remain fully secured and retail in nature with a balanced mix of home loans, which is at 73% and non-home loan at 27%. We continue to maintain well diversified book with an average ticket size of INR11 lakhs, 60% loan-to-value ratio, which remains within our comfort levels. The salaried segment continues to be 55% of our AUM. Balance transfer out during the Page 2 of 15 Aadhar Housing Finance Limited July 31, 2026 quarter in question stood at 5%, which is one of the lowest BT out rates in the last 8 to 10 quarters and improved by 20 bps as compared to Q1 FY26. This was supported by a focused retention effort and data-driven customer engagement. On the operating environment, demand for low-income housing finance continues to remain healthy and structurally supported. It continues to be largely end user base and first-time homebuyer driven, particularly in the emerging markets, where we have deliberately built a strong franchise, which gives us comfort that this growth is not speculative in nature. Our approach, as always, has been to protect spreads rather than chase yields, which we are doing by tilting the mix towards emerging branches by staying disciplined on loan against property and by continuing to drive productivity per branch and per employee, so that operating leverage does the work that pricing cannot. Even after a 15 bps reduction in our RPLR effective February 2026, our spreads have held at 5.8% as on June 26. On asset quality, our portfolio continues to perform well. Collection efficiency remains strong at 99%. Gross NPA stood at 1.31%, an improvement of 3 bps on Y-o- Y basis. Stage 2 comes in at 3.3%, continuing to show an improvement of 40 bps on a Y-o-Y basis. As we have said before, the first line of defence for us is always the bounce rate and this has remained stable throughout the quarter. We remain watchful of two external factors that the broader industry has also flagged. The ongoing geopolitical uncertainty around the West Asia situation and its resulting impact on segments like fuel-dependent trade and travel and the monsoon outlook given it's bearing on the rural and semi-urban cash flows. Our exposure to NRI-linked customer segment continues to be minimal, and our underwriting teams are tracking lead indicators closely at the branch level, as we always do, rather than making any broad-based tightening. On distribution, as on June '26, our network stands at 628 branches across 22 states and covering 550 plus districts, in line with our calibrated, need-based expansion approach. We continue to see most of our new branches, particularly in the smaller deep impact one, reach productivity level within our expected 9 to 15 months window, and that discipline remains central to how we think our cost to income is controlled. Our geographic diversification remains strong with no single state contributing disproportionately to our AUM. Our approach of combining branch expansion with productivity improvement of existing branches continue to support our sustainable growth. Let me briefly touch upon our AI initiatives. We are institutionalizing AI as Aadhar's operating backbone a 6-layer AI architecture embedded across origination, underwriting, surveillance, collection and [Showing first 8,000 characters — download PDF for full document]