Aadhar Housing Finance Limited has received an upgrade in its credit rating from India Ratings and Research (Ind-Ra), with the agency raising its rating on the company’s debt instruments and bank loan facilities to ‘IND AA+/Stable’ from ‘IND AA/Positive’. Aadhar said the upgrade is the second to ‘AA+/Stable’ after a similar revision by CARE. The upgrade reflects the company’s strong position in the low-income housing finance segment, sustained expansion, stable asset quality, profitability, adequate capitalisation and diversified funding profile. Ind-Ra also highlighted Aadhar’s geographically diversified operations, granular retail-focused portfolio, established underwriting and collection framework and experienced management team.
The company has access to multiple funding sources, including banks, National Housing Bank, non-convertible debentures, external commercial borrowings, commercial paper and direct assignment. Managing Director and CEO Rishi Anand said the upgrade recognisesAadhar’s financial strength, resilient business model and consistent performance, adding that the stronger credit profile would support deeper reach in underserved markets. As of June 30, 2026, Aadhar’s assets under management stood at around ₹31,400 crore, with 628 branches across 22 states and union territories. Its capital adequacy ratio was 43.4%, while return on assets stood at 4% in Q1 FY27.
In Kolkata, the rating upgrade is expected to strengthen investor confidence in Aadhar Housing Finance and underscores the broader resilience of affordable housing finance, particularly as demand for formal credit remains significant across emerging urban and semi-urban markets.