Bajaj Finserv (BAJAJFINSV) Q4 24/25 earnings summary

Executive summary

• Consolidated total income for FY25 reached ₹133,822 crore, up 21% year-over-year, and Q4 FY25 income was ₹36,596 crore, up 14% year-over-year.

• Consolidated profit after tax for FY25 was ₹8,872 crore, up 9% year-over-year, and Q4 FY25 PAT was ₹2,417 crore, up 14% year-over-year.

• Bajaj Finance and Bajaj Housing Finance posted strong AUM growth, improved asset quality, and robust profitability.

• Platform businesses (Health, Direct, AMC) achieved scale, with notable growth in transactions, AUM, and network expansion.

• Share Purchase Agreement signed to acquire Allianz's 26% stake in BAGIC and BALIC for ₹24,180 crore, pending regulatory approval.

Financial highlights

• Bajaj Finance AUM up 26% to ₹416,661 crore; PAT up 17% to ₹4,480 crore; ROE stable at 19%.

• Bajaj Housing Finance AUM up 26% to ₹114,684 crore; PAT up 54% to ₹587 crore; CRAR at 28.24%.

• BAGIC GWP down 13% to ₹4,326 crore in Q4 due to timing and accounting changes; core business lines grew 8% after adjustments.

• BALIC GWP up 13% to ₹9,237 crore in Q4; VNB up 14% to ₹549 crore; NBM at 22.1%.

• Asset Management AUM surpassed ₹20,365 crore, more than doubling year-over-year.

Outlook and guidance

• Cautiously optimistic for H2 FY26, expecting growth to resume as regulatory and market volatility stabilizes.

• Focus on sustainable, profitable growth, cost optimization, margin improvement, and leveraging AI and digital transformation.

• Insurance businesses to pursue calibrated growth with strong underwriting discipline.

• Continued investment in technology, digital platforms, and customer experience.

• Regulatory changes in insurance accounting expected to impact reported metrics but not underlying profitability.