Piramal Finance (PIRAMALFIN) Investor presentation summary

Business mix and transformation

• Total AUM reached $11,257 Mn at June 2026, up 25% YoY; growth businesses represented 98% and legacy 2%.

• Retail made up 85% of AUM, with a retail-to-wholesale mix of 85:15; retail AUM grew 32% YoY to $9,605 Mn.

• AUM grew at 44% CAGR since Mar-22, while legacy AUM declined 94% over the same period; retail branches expanded to 780.

• The PEL reverse merger was completed in Sep-25, consolidating financial services operations and combining lending scale and distribution.

Retail lending

• Retail AUM was $9,605 Mn, up 32% YoY; mortgages reached $6,442 Mn, up 30% YoY and 67% of retail AUM.

• Retail disbursements rose 44% YoY; the portfolio spans secured mortgages and used-car lending alongside unsecured and rural products.

• AUM yield excluding fees was 13.6%; opex to AUM was 3.5%, down ~300 bps in three years, and 90+ DPD was 0.7%.

• Cross-sell generated 25–30% of unsecured disbursements; the customer franchise grew 24% YoY to 6 Mn.

• Gold loans began operations in Jun-26, with rollout across 67 branches and a target of 200 branches by end-FY27.

Wholesale 2.0

• Wholesale AUM was $1,393 Mn, up 27% YoY; Q1 FY27 disbursements were $274 Mn, up 13% YoY, at 14.2% portfolio EIR.

• The portfolio mix was 70:30 between real estate and corporate mid-market lending; repayments were 74% of disbursements in Q1 FY27.

• Since inception in Q2 FY22, $2,959 Mn was disbursed across 419 loans and $1,562 Mn repaid; Q1 FY27 prepayments were $108 Mn.

• Wholesale exposure spans real estate and multiple corporate sectors, with 37 deals below $11 Mn ticket size as of Jun-26.