Aadhar Housing Finance Receives ‘IND AA+’ Rating Upgrade with Stable Outlook from India Ratings

Upgrade reflects Aadhar’s strong position in low-income housing finance, capitalisation and diversified funding profile

Mumbai, 1st Sept 2026: Aadhar Housing Finance Limited, one of India’s leading housing finance companies focused on the low-income housing segment, has announced that India Ratings and Research (Ind-Ra) has upgraded the ratings on its debt instruments and bank loan facilities to ‘IND AA+/Stable’ from ‘IND AA/Positive’. India Ratings is the second rating agency who has upgraded Aadhar’s credit rating to AA+/Stable after CARE. 

 The upgrade reflects the company’s sustained expansion, stable asset quality, strong profitability and adequate capitalisation. The rating agency highlighted Aadhar’s established position in the affordable housing finance segment, geographically diversified operations, diversified funding profile and experienced management team. Ind-Ra also noted the company’s resilience across economic cycles and its ability to maintain healthy operating profitability.

Key Highlights:

Ind-Ra has upgraded Aadhar’s rating to ‘IND AA+’ from ‘IND AA’ and revised the outlook to Stable. The upgrade factors in Aadhar’s strong capitalisation, providing headroom to support business growth.

Aadhar’s established franchise, granular retail-focused portfolio and adequate capitalisation continue to support its growth and credit profile.

Aadhar has access to multiple funding sources, including banks, National Housing Bank, NCDs, ECBs, commercial paper and direct assignment.

Aadhar’s granular portfolio and established underwriting and collection framework continue to support asset quality.

Commenting on the rating upgrade, Mr. Rishi Anand, Managing Director & CEO, Aadhar Housing Finance Limited, said, “This upgrade is a strong recognition of our financial strength, resilient business model and consistent performance. It also reflects the trust and confidence we have built among our stakeholders through consistent execution and responsible growth. With a stronger credit profile, we are well placed to deepen our reach across underserved markets and enable more families to access formal housing finance.” 

As of June 30, 2026, Aadhar’s assets under management stood at approximately ₹31,400 crore, with a network of 628 branches across 22 states and union territories. The company’s capital adequacy ratio stood at 43.4%, while its return on assets was 4.0% in the first quarter of FY27.