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Mortgage-focused Sammaan Capital reports its March 2026 quarter results and outlines an aggressive turnaround strategy backed by fresh capital and business diversification plans.
Sammaan Capital says the capital infusion by Abu Dhabi’s IHC Group helped it fully write off and provide for legacy stressed assets, bringing its NPAs down to zero in Q4.
Shares of Sammaan Capital Ltd surged over 10% on Thursday, May 21, after the mortgage-focused lender reported its March 2026 quarter results and outlined an aggressive turnaround strategy backed by fresh capital and business diversification plans.
On the NSE, shares of Sammaan Capital on May 21 were trading at Rs 157.91, up Rs 16.09 or 10.56%, as of 10:15 am.
The company reported a consolidated net loss of Rs 8,101.4 crore for the fourth quarter, sharply wider than the Rs 324.04 crore loss posted in the corresponding period last year. The steep loss was largely driven by one-time adjustments linked to the clean-up of its legacy stressed loan book.
Sammaan Capital said the capital infusion by Abu Dhabi’s IHC Group helped it fully write off and provide for legacy stressed assets, bringing both gross and net non-performing assets (NPAs) down to zero at the end of the March quarter.
Its net interest income (NII), the difference between the income earned and interest expended, declined 92% year-on-year to Rs 84.3 crore in the March 2026 quarter, compared with Rs 1,057.2 crore a year ago. The lender also reported impairment on financial instruments worth Rs 2,958.1 crore and exceptional items amounting to Rs 6,499.1 crore during the quarter.
Despite the weak earnings performance, investors cheered the company’s forward-looking guidance and improved balance sheet profile.
For financial year 2027, Sammaan Capital expects its marginal cost of funds to decline by 160 basis points initially and by as much as 270 basis points over time as its credit ratings improve further.
The company said it plans to increase the share of existing mortgage products to nearly 80% of total disbursements over FY27-FY28. Over the longer term, it aims to achieve a 50:50 disbursement mix between mortgage-backed and non-mortgage products by FY2030.
As part of its diversification strategy, Sammaan Capital is planning to enter segments such as gold loans, business loans, personal loans, unsecured retail lending and loans against securities.
All three domestic rating agencies have upgraded the company’s rating to AA+, strengthening its borrowing profile and improving funding access.
The company also highlighted strong liquidity and capital metrics. Its Capital Adequacy Ratio (CAR) stood at 20.3%, while the Liquidity Coverage Ratio (LCR) came in at 139%, significantly above the regulatory requirement of 100%.
Gagan Banga, managing director and CEO of Sammaan Capital, said, “Sammaan Capital has entered a defining new chapter. With IHC Group as our Promoter, we are no longer just a well-capitalised lender — we are an institution built for scale.”
Following the earnings announcement and management commentary, shares of Sammaan Capital were trading 8.3% higher at Rs 153.61. The stock has now turned positive on a year-to-date basis.
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