Motilal Oswal Maintains 'Neutral' Rating on Bajaj Housing Finance, Sets ₹100 Target

• Motilal Oswal has issued a 'Neutral' rating for Bajaj Housing Finance (BHFL) with a target price of INR 100.
• BHFL reported a 21% YoY growth in Q3 FY26 Profit After Tax (PAT) to INR 6.6 billion, meeting expectations.
• Net Interest Income (NII) increased by 20% YoY to INR 9.6 billion, while Net Total Income (NTI) grew 24% YoY to INR 11.5 billion.
• Other income saw a significant 49% YoY rise to INR 1.9 billion, exceeding estimates by 24%.
• Despite strong fundamentals and growth potential, Motilal Oswal believes the current valuation of 2.9x FY27E already reflects its prospects, leading to the 'Neutral' stance.