Can Fin Homes Share Price: 21% YTD Fall! Will the Stock Rebound? Mirae Asset Answers

Can Fin Homes is a housing finance company promoted by Canara Bank, and it lends mainly for home purchase and construction. Its shares have lagged the market this year, which is why analysts are asking whether it can bounce back.

This guide covers the price history, the Q2 FY27 results, the effect of the IT overhaul, the company's guidance, valuation against peers and the risks. I could not find the Mirae Asset note that the headline refers to, so I rely on the numbers and views I could verify.

The answer to the headline question rests on whether lending recovers, so the sections below focus on that.

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Can Fin Homes Share Price: How Far It Has Fallen

Item	Level	Note
Price on 13 Oct 2026	Rs 735.50	Up 2.48% from Rs 717.70
52-week range	Rs 702 to Rs 970	Price about 24% below the high (my calculation)
Year to date	Down 20.94%	Sensex down 15.60%
One week	Up 3.69%	Sensex down 0.63%
One month	Down 6.61%	Sensex down 3.82%
One year	Down 6.78%	Sensex down 12.82%
Close on 9 Oct (results day)	Rs 718.15	Down 0.77%

Can Fin Homes has fallen more than the market this year but has done better than the Sensex over the past year. It also rose 3.69% in the last week, which shows that buyers have started to return after the results.

Risk: A stock near the lower end of its 52-week range can still make new lows if lending stays weak.

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Can Fin Homes Q2 FY27 Results

Item	Q2 FY27	Q2 FY26
Net profit	Rs 274.61 crore	Rs 251.43 crore
Interest income	Rs 1,121.66 crore	Rs 1,043.17 crore
Total income from operations	Rs 1,131.18 crore	Rs 1,049.45 crore
Profit before tax	Rs 347.22 crore	Rs 331.58 crore
Earnings per share	Rs 20.62	Rs 18.88
H1 FY27 net profit	Rs 542.43 crore	Rs 475.30 crore (up 14.1%)

Asset quality, 30 Sept 2026	Level
Gross NPA (GNPA)	0.90%
Net NPA	0.43%
Provision coverage	52.82%
Capital adequacy (CRAR)	23.34%

Can Fin Homes profit grew 9.2%, which is slower than the 14.1% for the half year. Asset quality remains strong, with gross NPA below 1% and a capital adequacy ratio of over 23%, so credit risk is not the problem.

Net NPA is shown as 0.43% in the filing summary and 0.42% in the Axis Securities note, a small difference between sources.

Risk: Slower profit growth with a high valuation premium would hurt the stock, but here the valuation is low.

Project Tejas: Why Disbursements Fell

Item	Detail
Q2 FY27 disbursements	About Rs 2,375 crore net of Rs 29 crore in cancellations; Axis Securities says about 6.8% lower than a year earlier
FY27 guidance	Disbursements of Rs 13,000 crore maintained; Q3 target of Rs 3,500 crore
Project Tejas	A new IT system, now live in all branches; 93 branches went live on 1 Oct
Impact in migration month	Disbursements at migrating branches fell 70% to 75%, then recovered to 80% to 90% of normal
Other friction	8 to 10 OTP steps added time, and Telangana property verification caused some cancellations
Prepayments	Rs 1,795 crore in Q2 against Rs 1,857 crore in Q1

Can Fin Homes management called the slowdown temporary and said it would make up the shortfall in the second half. That claim is the heart of the rebound argument, and the Q3 figures will show whether it is right.

The Can Fin Homes sales team is also being expanded, from about 90 people to 150 by December and 250 next year, with a target of Rs 1,500 crore to Rs 1,600 crore of business from this team in FY27.

Risk: If disbursements do not recover in Q3, the guidance of Rs 13,000 crore looks hard to meet.

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Can Fin Homes Guidance, Rates and Margins

Item	Guidance or level
AUM growth	13% to 14% in FY27, closer to 14%; 15% or more in FY28
Net interest margin (NIM)	Guidance of 3.75%, operating level about 3.8%
Spread	Guidance of 2.75%, operating level about 2.8%
Credit cost	9 basis points in Q2; 10 basis points for the year
Lending rates	Raised by 10 basis points from 8 Oct, against a 25 basis point repo hike
NHB refinance	Rs 1,350 crore sanctioned at a blended cost of 6.6% to 6.7%

Can Fin Homes raised its lending rate by less than the repo hike, so the spread could narrow if funding costs rise further. The CFO said a rate rise of 25 to 50 basis points is unlikely to hurt demand.

Risk: Rising rates can slow home loan demand and squeeze spreads at the same time.

Can Fin Homes Valuation and Analyst Views

Metric	Can Fin Homes	Peers
Price to earnings	8.49	LIC Housing Finance 5.43; PNB Housing Finance 13.51; Home First 19.47; Aavas 19.49
Price to book	1.64	Not stated
Return on equity	19.28%	Not stated
Dividend yield	2.04%	Not stated
Axis Securities	Buy, target Rs 915	About 24% upside from Rs 735, 13 Oct 2026
Data site rating	Hold	Upgraded from Sell on 22 Sept 2026

At a price to earnings ratio of 8.49 and a return on equity of about 19%, Can Fin Homes looks inexpensive against most listed peers apart from LIC Housing Finance. A low valuation can persist if growth stays weak, which is why the recovery in disbursements is the key.

Axis Securities expects Can Fin Homes disbursement growth to recover in the second half now that the IT migration is done. It lists a slowdown in credit demand as the main risk.

Risk: A low valuation does not guarantee a rebound, and the stock can stay low for longer than expected.

Will Can Fin Homes Rebound? What to Watch

1. Q3 FY27 disbursements against the Rs 3,500 crore target
2. AUM growth against the guidance of 13% to 14%
3. The effect of the 10 basis point lending rate rise on demand and spreads
4. Gross and net NPA, which are currently below 1%
5. Mirae Asset or other brokerage views and target prices

Conclusion

Can Fin Homes share is down about 21% this year because an IT migration slowed lending, and the stock now trades at a low valuation with strong asset quality. A rebound depends on disbursements recovering in the second half, so watch the Q3 numbers before acting.

Frequently Asked Questions

Why is the Can Fin Homes share down 21% this year?

Ans. Disbursements fell after an IT migration called Project Tejas disrupted lending, profit growth slowed and lending rates rose, according to the company's commentary and the numbers I reviewed.

What were the Can Fin Homes Q2 FY27 results?

Ans. Net profit rose 9.2% to Rs 274.61 crore, with interest income of Rs 1,121.66 crore. Gross NPA was 0.90%.

Will the Can Fin Homes share rebound?

Ans. It depends on whether disbursements recover in the second half. Axis Securities expects it to, with a target of Rs 915, but no one can be sure.

What is the Axis Securities target for Can Fin Homes?

Ans. Buy with a target of Rs 915, about 24% above Rs 735, dated 13 October 2026.

What is the Can Fin Homes P/E ratio?

Ans. About 8.49 on 13 October 2026, against 5.43 for LIC Housing Finance and 13.51 for PNB Housing Finance.

What did Mirae Asset say about Can Fin Homes?

Ans. I could not find the Mirae Asset note, so I do not state its view. Please check the original article.

What is Project Tejas?

Ans. It is Can Fin Homes' new IT system, now live in all branches, which cut disbursements at migrating branches by 70% to 75% in the first month.

Is this article investment advice?

Ans. No. It is educational and not a recommendation to buy or sell.