**MARKET BRIEF: BAJAJ HOUSING FINANCE | Q3 FY26 UPDATE** **Stock Surges on Robust Q3 Earnings** Bajaj Housing Finance shares witnessed sharp buying interest on Tuesday, February 3, 2026, climbing over **2%** intraday to trade near **₹91.66**. The rally follows the company's strong operational performance for the quarter ended December 31, 2025, effectively dispelling recent sector-wide concerns about slowing credit demand. **Earnings Snapshot: Profit & Growth** The housing financier delivered a solid set of numbers, reporting a **21%** year-on-year jump in net profit to **₹665 crore**, compared to ₹548 crore in the corresponding quarter of the previous fiscal. This bottom-line growth was driven by healthy loan disbursements and sustained momentum in the real estate market. Core revenue metrics remained equally impressive. Net Interest Income (NII) expanded by **19%** YoY to **₹963 crore**, underscoring the company’s ability to manage borrowing costs effectively despite a volatile interest rate environment. **AUM and Asset Quality** Business volume saw significant traction, with Assets Under Management (AUM) crossing the **₹1.33 lakh crore** mark, registering a **23%** growth over the previous year. This expansion aligns with the company's aggressive focus on the prime and super-prime housing segments. Asset quality, a key monitorable for lenders, showed continued improvement. Gross Non-Performing Assets (GNPA) stood at a comfortable **0.27%**, while Net NPA was contained at **0.11%**. The Provisioning Coverage Ratio (PCR) on Stage 3 assets remained healthy at approximately **59%**, providing a cushion against potential defaults. **Technical Outlook & Market Sentiment** While the fundamental data fueled a price recovery, technical charts present a mixed picture. The stock is currently trading above its short-term moving averages, but momentum indicators like the MACD remain below the zero line, suggesting that the broader trend is still navigating a neutral-to-bearish zone. The RSI remains in neutral territory, indicating room for movement in either direction. Investors cheered the results, pushing the stock to an intraday high of **₹94.77**, recovering from a recent 52-week low of **₹87.11**. The strong capital adequacy ratio of over **23%** further reinforced investor confidence in the company's long-term stability. **Sector Context** The performance of Bajaj Housing Finance stands out amidst a mixed earnings season for the wider NBFC sector. While peers like Bajaj Finance faced headwinds from provisioning and operational costs, the housing finance arm has leveraged its secured lending portfolio to deliver consistent double-digit growth.