Motilal Oswal Home Finance Unlisted Shares
Motilal Oswal Home Finance is a Mumbai-based housing finance company focused on affordable home loans. It had assets under management of ₹5,829 crore across 126 branches in 12 states and union territories at 31 March 2026.
Read the full company profile
Key facts
Motilal Oswal Home Finance share details
- Lot size
- 2,000 shares
- Min. investment
- ₹19,500
- Face value
- ₹1
- Implied market cap
- ₹5,926 Cr
- Shares outstanding
- 6,078,042,292
- Headquarters
- Mumbai, Maharashtra
- Website
- motilaloswalhf.com
- ISIN
- INE658R01011
- CIN
- U65923MH2013PLC248741
- Lock-in after IPO
- 6 months
Price history
Motilal Oswal Home Finance share price chart
1Y change
-26.42%
High
₹13.25
Low
₹9.75
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About
About Motilal Oswal Home Finance
Motilal Oswal Home Finance Limited (MOHFL) is a housing finance company that gives home loans, mainly in the affordable housing segment. Its customers are families in urban and semi-urban India. At 31 March 2026 it served over 54,700 families through 126 branches across 12 states and union territories, and it added 14 branches during FY26.
The business has grown steadily. Assets under management (AUM) reached ₹5,829 crore at 31 March 2026, up 19% over FY25, and the loan book stood at ₹5,596 crore. Disbursements in FY26 were ₹2,021 crore, up 13%. Total revenue from operations was ₹80,021 lakh and profit after tax was ₹15,884 lakh (₹159 crore), against ₹13,026 lakh a year earlier. These are standalone figures from the FY26 annual report. Net interest margin was 7.0%, return on assets 2.8% and return on equity 10.6%, as stated by the company.
Asset quality is clean on the company's reported numbers. Gross Stage 3 loans were 0.87% of the loan book and net Stage 3 was 0.49%. The capital adequacy ratio was 37.5%, well above the 15% minimum the regulator requires of housing finance companies. ICRA upgraded the company's rating to AA+ with a Stable outlook, and the Asian Development Bank has committed financing of USD 100 million (INR equivalent).
MOHFL is a subsidiary of Motilal Oswal Financial Services Limited, which holds 67.54% along with its promoter group. Motilal Oswal is the Chairman and Sukesh Bhowal is the Managing Director and CEO. The company has 6,07,80,42,292 equity shares of ₹1 face value in issue.
MOHFL has not listed on the stock exchanges. Its shares trade off-market through unlisted-share dealers, so prices are indicative and not a quote from an exchange. IPO Guru's indicative price is ₹10.5 per share, which works out to an implied market cap of about ₹6,382 crore. We have no confirmed IPO date or price band for this company.
Strengths
- AUM grew 19% over FY25 to ₹5,829 crore at 31 March 2026, and the loan book grew 15% to ₹5,596 crore.
- Profit after tax rose to ₹15,884 lakh in FY26 from ₹13,026 lakh in FY25, while total revenue from operations rose to ₹80,021 lakh from ₹62,995 lakh.
- Asset quality is stable: Gross Stage 3 was 0.87% and net Stage 3 was 0.49% of the loan book at 31 March 2026.
- The capital adequacy ratio was 37.5% against a regulatory minimum of 15%, which leaves room to keep lending without raising fresh equity soon.
- Net equity rose to ₹1,60,786 lakh at 31 March 2026 from ₹1,42,864 lakh a year earlier.
- Funding comes from public and private sector banks, NBFCs, mutual funds and development finance institutions. ICRA upgraded the rating to AA+ with a Stable outlook, and the Asian Development Bank has committed USD 100 million of financing.
- The network grew to 126 branches in 12 states and union territories, with 14 branches added in FY26, and the company is backed by the Motilal Oswal group.
Risks
- Operating cash flow was negative at ₹94,752 lakh in FY26 (₹55,554 lakh negative in FY25) because loans are growing faster than cash comes in. The business depends on continued borrowing and fresh equity to fund this.
- The company relies heavily on borrowings. The debt-equity ratio was 2.9 at 31 March 2026, so changes in interest rates or lender appetite can hurt margins and growth.
- Impairment on financial instruments rose to ₹1,595 lakh in FY26 from ₹165 lakh in FY25, so credit costs are moving up.
- Return on equity of 10.6% is modest, as much of the equity base is lightly used compared with the loan book.
- Its focus is affordable housing, with customers who may have irregular incomes. A downturn in real estate or in household incomes could raise defaults.
- Other income fell to ₹61 lakh in FY26 from ₹2,162 lakh in FY25, and FY26 revenue included a ₹3,377 lakh gain on derecognition of financial assets, which may not repeat.
- Housing finance companies are regulated by the National Housing Bank and the RBI. Changes in rules on capital, provisioning or lending can raise costs.
- The parent group holds 67.54% together with its promoter group, so group decisions have a large say in strategy and related-party dealings.
- The shares are unlisted. Trading happens off-market with no exchange price discovery, liquidity can be thin, and there is no certainty or date for a listing.
Financials
Motilal Oswal Home Finance financial performance
Revenue, profit and balance-sheet figures by fiscal year.
Revenue & PAT (₹ Cr)
Revenue
PAT
| Metric | FY26Latest | FY25 |
|---|---|---|
| Revenue (₹ Cr) | 800 | 630 |
| PAT (₹ Cr) | 159 | 130 |
| PAT Margin (%) | 19.85 | 20.68 |
| RoNW (%) | 9.88 | 9.12 |
| EPS (₹) | 0.26 | 0.22 |
| Total Assets (₹ Cr) | 6,319 | 5,531 |
| Net Worth (₹ Cr) | 1,608 | 1,429 |
Swipe the table sideways for earlier years →
Leadership
Management team
Motilal Oswal
Chairman & Non-Executive Director
Promoter and Chairman of the company; co-founder of the Motilal Oswal group.
Raamdeo Agarawal
Non-Executive Director
Non-Executive Director who also publishes the annual Wealth Creation Studies.
Sukesh Bhowal
Managing Director & Chief Executive Officer
Over 28 years in mortgage and retail lending; earlier at DCB Bank, HDB Financial Services, Citibank and HSBC.
Divya Momaya
Independent Director
Independent Director; chairs the Nomination and Remuneration Committee.
Satinder Singh Rana
Independent Director
Former IRS officer who retired as Chief Commissioner of Income Tax; chairs the Risk Management Committee.
Neha Gada
Independent Director
Independent Director and chartered accountant on the Board.
Bhavin Shah
Chief Financial Officer
Over 14 years in non-banking and housing finance, covering treasury and asset-liability management.
Shobhit Doru
Chief Operating Officer
Senior management, Chief Operating Officer.
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