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Mahindra Rural Housing Finance Limited — Bonds & AAA (CRISIL) Rating

NBFC · Real Estate

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AAA (CRISIL)
Most common current rating on senior bonds
18 of 21 rated · CRISIL, 30 Jun 2026
Total Debt Outstanding
₹4,967 Cr
Across 29 instruments
Active Bonds
29
First Issue
25 Jul 2016
Latest Issue
19 Jun 2026
Maturity Range
2026 - 2034
Observation
29 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
Issuer health card 1 item to look at
  • Current ratings CRISIL AAA, CARE AAA, CRISIL AA+
  • Rating range Current ratings range from AA+ (CRISIL 31 Jan 2022) to AAA (CARE 9 Jul 2026, CRISIL 30 Jun 2026)
  • Rating direction, 12 months 0 upgrades, 0 downgrades
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating Dated 9 Jul 2026
  • Payment record No payment disclosures since 17 Jul 2026
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 5 of 29 active bonds had an exchange trade
  • Exchange filings, 90 days 0 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about Mahindra Rural Housing Finance Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Real Estate
Issuer Type
NBFC
First Tracked Bond
25 Jul 2016
Start of this issuer's debt program timeline
  • 29 active bonds tracked from this issuer.
  • 20 of 29 tracked bonds with a stated security status are secured. (based on 29 bonds with a disclosed security status)
  • Most recent rating action: update by CRISIL on 25 Sep 2026.

Mahindra Rural Housing Finance Limited, an NBFC in the Real Estate sector, is tracked on RetailBonds.in. Outstanding bonds carry coupons between 7.15% - 9.40%, paid annually. Maturities on outstanding bonds fall between 2026 - 2034.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
29
Tracked by RetailBonds
Amount Tracked
₹4,967 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 27 of 29 bonds)
Avg Coupon
8.17%
Range 7.15% - 9.40%
Avg Remaining Tenure
2.4 Yrs
Nearest maturity Nov 2026
Secured
68%
20 of 29 bonds with known status
Callable
0
Of 29 bonds
Avg Spread vs G-Sec
+115 bps
Credit premium, from 5 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (8 bonds).

0 2026: 1 bond, ₹17 Cr tracked, avg coupon 8.40% 1 bond 2026 2027: 8 bonds, ₹1,145 Cr tracked, avg coupon 8.28% 8 bonds 2027 2028: 7 bonds, ₹1,520 Cr tracked, avg coupon 8.00% 7 bonds 2028 2029: 5 bonds, ₹1,075 Cr tracked, avg coupon 8.18% 5 bonds 2029 2030: 3 bonds, ₹400 Cr tracked, avg coupon 8.12% 3 bonds 2030 2031: 1 bond, ₹400 Cr tracked, avg coupon 8.05% 1 bond 2031 2032: 3 bonds, ₹210 Cr tracked, avg coupon 8.20% 3 bonds 2032 2034: 1 bond, ₹200 Cr tracked, avg coupon 8.35% 1 bond 2034

Security Type / Instrument Mix

  • NCD 29 bonds · 100% · ₹4,967 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2016: ₹17 Cr issued 2016 2017: ₹95 Cr issued 2017 2018: ₹70 Cr issued 2018 2020: ₹150 Cr issued 2020 2022: ₹210 Cr issued 2022 2023: ₹375 Cr issued 2023 2024: ₹1,550 Cr issued 2024 2025: ₹1,000 Cr issued 2025 2026: ₹1,500 Cr issued 2026 Cumulative: ₹17 Cr Cumulative: ₹112 Cr Cumulative: ₹182 Cr Cumulative: ₹332 Cr Cumulative: ₹542 Cr Cumulative: ₹917 Cr Cumulative: ₹2,467 Cr Cumulative: ₹3,467 Cr Cumulative: ₹4,967 Cr

Based on 27 of 29 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • AAA 20 bonds · 69%
  • AA 7 bonds · 24%
  • Unrated 2 bonds · 7%
AgencyRatingOutlookBonds
CARE AAA Stable 10
CRISIL AAA Stable 8
CRISIL AAA — 4
CRISIL AA+ Stable 3
CRISIL AA+ NSDL record — 2
CRISIL AAA NSDL record — 2
India Ratings AA+ NSDL record — 2

Recent Rating Actions

25 Sep 2026 · CRISIL
—
Update
25 Sep 2026 · CRISIL
—
Update
10 Sep 2026 · CRISIL
—
Update
18 Aug 2026 · CRISIL
—
Update
14 Aug 2026 · CRISIL
—
Other
4 Aug 2026 · CRISIL
—
Update
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE950O08105 Mahindra Rural Housing Finance 8.40% Nov 2026 NCD 8.40% AA+ (India Ratings, NSDL record 2016) 2026-11-24 — —
INE950O07438 Mahindra Rural Housing Finance 8.45% Jan 2027 NCD 8.45% AAA (CRISIL) 2027-01-22 — —
INE950O07453 Mahindra Rural Housing Finance 8.45% Mar 2027 NCD 8.45% AAA (CRISIL, NSDL record 2024) 2027-03-25 — —
INE950O07123 Mahindra Rural Housing Finance 8.30% Mar 2027 NCD 8.30% AAA (CARE) 2027-03-26 — —
INE950O08303 Mahindra Rural Housing Finance 8.31% May 2027 NCD 8.31% AAA (CRISIL, NSDL record 2025) 2027-05-12 — —
INE950O08121 Mahindra Rural Housing Finance 8.50% May 2027 NCD 8.50% AAA (CARE) 2027-05-19 — —
INE950O08139 Mahindra Rural Housing Finance 8.50% May 2027 NCD 8.50% AAA (CARE) 2027-05-28 — —
INE950O08147 Mahindra Rural Housing Finance 8.50% Jun 2027 NCD 8.50% AAA (CARE) 2027-06-15 — 2026-08-13
INE950O07511 Mahindra Rural Housing Finance 7.25% Aug 2027 NCD 7.25% AAA (CRISIL) 2027-08-27 — —
INE950O07545 Mahindra Rural Housing Finance 7.42% Feb 2028 NCD 7.42% AAA (CRISIL) 2028-02-23 — —
INE950O07552 Mahindra Rural Housing Finance 7.58% Mar 2028 NCD 7.58% AAA (CRISIL) 2028-03-27 8.30% 2026-11-03
INE950O07495 Mahindra Rural Housing Finance 7.99% May 2028 NCD 7.99% AAA (CRISIL) 2028-05-04 — —
INE950O07248 Mahindra Rural Housing Finance 9.18% Jun 2028 NCD 9.18% AA+ (CRISIL, NSDL record 2018) 2028-06-01 — —
INE950O07503 Mahindra Rural Housing Finance 7.15% Jul 2028 NCD 7.15% AAA (CRISIL) 2028-07-21 8.57% 2026-11-03
INE950O08154 Mahindra Rural Housing Finance 9.40% Aug 2028 NCD 9.40% AA+ (India Ratings, NSDL record 2018) 2028-08-07 — —
INE950O07529 Mahindra Rural Housing Finance 7.30% Sep 2028 NCD 7.30% AAA (CRISIL) 2028-09-26 — —
INE950O07446 Mahindra Rural Housing Finance 8.41% Feb 2029 NCD 8.41% AAA (CARE) 2029-02-28 — —
INE950O07560 Mahindra Rural Housing Finance 7.54% May 2029 NCD 7.54% AAA (CRISIL) 2029-05-22 — —
IN8950O07023 Mahindra Rural Housing Finance 8.35% Jun 2029 NCD 8.35% — 2029-06-22 — —
INE950O07461 Mahindra Rural Housing Finance 8.35% Jun 2029 NCD 8.35% AAA (CARE) 2029-06-22 — —
INE950O07487 Mahindra Rural Housing Finance 8.25% Aug 2029 NCD 8.25% AAA (CARE) 2029-08-03 7.36% 2026-11-05
INE950O08162 Mahindra Rural Housing Finance 9.00% Jan 2030 NCD 9.00% AA+ (CRISIL) 2030-01-21 — —
INE950O07537 Mahindra Rural Housing Finance 7.45% Nov 2030 NCD 7.45% AAA (CRISIL) 2030-11-21 8.50% 2026-11-05
INE950O08196 Mahindra Rural Housing Finance 7.90% Dec 2030 NCD 7.90% AA+ (CRISIL) 2030-12-16 — —
INE950O07578 Mahindra Rural Housing Finance 8.05% Jun 2031 NCD 8.05% AAA (CRISIL) 2031-06-19 — 2026-09-11
INE950O07388 Mahindra Rural Housing Finance 7.90% Jan 2032 NCD 7.90% AA+ (CRISIL) 2032-01-09 — —
INE950O07396 Mahindra Rural Housing Finance 8.35% Sep 2032 NCD 8.35% AA+ (CRISIL, NSDL record 2022) 2032-09-24 — —
IN8950O07015 Mahindra Rural Housing Finance 8.35% Sep 2032 NCD 8.35% — 2032-09-24 — —
INE950O08295 Mahindra Rural Housing Finance 8.35% Dec 2034 NCD 8.35% AAA (CARE) 2034-12-22 8.38% 2026-10-21
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YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
—
Number of Trades (Last 30 Days)
17
Avg. Yield (Last 30 Days)
8.17%
06 Regulatory Filings
Credit Rating Rationale
07 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 31 2026-07-09
Rating Actions History 6 2026-09-25
Secondary-Market Trades 70 2026-11-05
Reg52(4) Payment Disclosures 0 —

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does Mahindra Rural Housing Finance Limited have?

Mahindra Rural Housing Finance Limited currently has 29 active bonds with coupons of 7.15% - 9.40%, maturities spanning 2026 - 2034.

What is Mahindra Rural Housing Finance Limited's credit rating?

The most common current rating on Mahindra Rural Housing Finance Limited's senior bonds is AAA (CRISIL). Ratings on file come from CARE, CRISIL.

Are Mahindra Rural Housing Finance Limited's bonds secured?

Of the 29 bonds with a disclosed security status, 20 are secured (68%) and 9 are unsecured.

When do Mahindra Rural Housing Finance Limited's bonds mature?

Mahindra Rural Housing Finance Limited's active bonds mature between 2026 - 2034; the nearest matures in Nov 2026; the average tenure is 2.4 Yrs.

What is the average coupon on Mahindra Rural Housing Finance Limited's bonds?

The average coupon across Mahindra Rural Housing Finance Limited's 29 active bonds is 8.17%.

Disclaimer: This page aggregates publicly available data about Mahindra Rural Housing Finance Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.