SRG Housing Finance LimitedFinancial ServicesSRGHFL
Q1 FY27 concall · earnings callSRG Housing Finance Limited
SRG Housing Finance held a clarification call to deny a 10th September 2026 Economic Times report alleging Rs 400 crore siphoning to promoter entities, stating its book, collections, liquidity and lender repayments remain intact pending completion of the routine NHB audit.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Capital adequacy ratio | 39.21% | — | |
| Active loan accounts | more than 15,000 | — | |
| Average ticket size | ₹0.12 Cr | — | |
| Monthly collection | Rs. 8 to 10 crores | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹38.94 Cr+22.7% YoY+8% QoQ | ₹5.74 Cr+7.9% YoY-13% QoQ | ₹4.16+1.7% YoY-14.6% QoQ |
| Q2 FY25 | ₹36.06 Cr+19.3% YoY+6.8% QoQ | ₹6.60 Cr+25.5% YoY+12.6% QoQ | ₹4.87+20.2% YoY+11.2% QoQ |
| Q1 FY25 | ₹33.77 Cr— YoY-6.6% QoQ | ₹5.86 Cr— YoY-3.8% QoQ | ₹4.38— YoY-4.4% QoQ |
| Q4 FY24 | ₹36.15 Cr— YoY+13.9% QoQ | ₹6.09 Cr— YoY+14.5% QoQ | ₹4.58— YoY+12% QoQ |
| Q3 FY24 | ₹31.74 Cr— YoY+5% QoQ | ₹5.32 Cr— YoY+1.1% QoQ | ₹4.09— YoY+1% QoQ |
TL;DR
- Denied Rs 400 crore siphoning and fund diversion to promoter entities as practically impossible at about one-third of book
- Said NHB red-flagging in September is part of routine annual supervisory audit started in July with no reasons shared yet
- Stated capital adequacy at 39.21%, PAT up 25% in quarter and 33% in 2025-2026, no repayment delay in company history
- Slowed new sanctions and disbursements temporarily, expects Q2 impact with recovery in Q3-Q4; lenders described as comfortable with no recalls
Said on the call
“From the beginning of the company till date, not a single rupee of any promoter has been fund transferred.”
From the Q&A
| Topic | What management said |
|---|---|
| Reason for RFA / red-flag tagging | Management said NHB does not give reasons for red-flagging during an ongoing audit, the audit started in July and normally takes around two months, and reasons will be known only on completion with 100% compliance. |
| Rs 400 crore siphoning and fictitious book allegation | Management denied fictitious promoter-related accounts and NPA manipulation, stating zero promoter-related loans, 100% loans centrally registered, all KYC and field verification done, and every loan has verified borrower, property and disbursement trail. |
| Liquidity, collections and repayments | Management said collections exceed obligations, buffer of 2-3 months repayment is maintained, liquidity is adequate till next March as submitted to rating agency, no slowdown in collections and no delay or default to any bank, financial institution or NHB. |
| Disbursement slowdown and lender position | Management said new business slowed as precaution with part disbursement continuing, existing bank sanctions remain but disbursement awaited after closure, no lender has recalled facilities and no rating downgrade with Acuite keeping rating under watch. |
| HFC to NBFC conversion | Management said board decided to convert from housing finance company to NBFC for multiple products while continuing housing finance, with NOCs and at least 6 months process; no plan for separate NBFC subsidiary. |
Guidance
- NHB audit started in July expected to close soon, in 1-2 months, with red flag removal thereafter
- Fresh sanctions and disbursements slowed temporarily; Q2 numbers to show impact while Q3 and Q4 expected to be good
- Board has passed resolution to convert from housing finance company to non-banking finance company to enable multiple products, process to take at least 6 months with NOCs
- Promoters can infuse capital in future if company needs it
Source
Summary written from the transcript filed by SRG Housing Finance Limited for the call held on 19 Sept 2026; published 19 Sept 2026, 16:19 IST.
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