Bajaj Finserv (BAJAJFINSV) Q1 25/26 earnings summary

Executive summary

• Consolidated total income grew 13% year-over-year to INR 35,451 crore, with profit after tax up 30% to INR 2,789 crore, marking an all-time high quarterly PAT.

• Strong performance across finance, insurance, housing finance, and emerging digital and health tech segments, with continued investment in new businesses.

• Regulatory approvals received for acquisition of Allianz's 26% stake in insurance subsidiaries; first tranche to be completed within six months of IRDAI approval, with name change pending.

• Platform and asset management businesses expanded rapidly, with Bajaj Finserv AMC AUM up 107% year-over-year to INR 25,011 crore.

Financial highlights

• Bajaj Finance AUM grew 25% year-over-year to INR 441,450 crore; PAT up 22% to INR 4,765 crore.

• General insurance GWP rose 9% to INR 5,202 crore; PAT up 15% to INR 660 crore; solvency margin at 334%.

• Life insurance VNB up 39% to INR 145 crore; NBM at 11.1%; PAT up 76% to INR 171 crore.

• Housing finance AUM up 24% to INR 120,420 crore; PAT up 21% to INR 583 crore.

• Bajaj Finserv AMC AUM: INR 25,011 crore, up 107% year-over-year.

Outlook and guidance

• Lending businesses expect to disburse over 50 million new loans and add 14-16 million new customers in FY 2026.

• FY26 expected to be a defining year for digital transformation (FINAI) with new capabilities going live.

• Focus on sustainable and profitable growth, leveraging technology, and expanding product suite across all segments.

• Cost reduction and product structure changes are expected to sustain margin improvements in life insurance.