Bajaj Finserv Company Overview, Financials and Business Performance

Bajaj Finserv Limited is the financial services holding company of the Bajaj Group, with businesses spanning consumer and SME lending, housing finance, life insurance, general insurance, wealth management, and mutual funds. Through its subsidiaries and growing digital ecosystem, Bajaj Finserv serves customers across urban, semi-urban, and rural markets in India.

Bajaj Finserv Corporate Holding Structure (FY2025-26)

The company operates through strategic holdings in its major lending and insurance businesses.

• Bajaj Finance Limited Promoter Stake – 51.32%
• Bajaj Allianz General Insurance Equity Stake – 77.33%
• Bajaj Allianz Life Insurance Equity Stake – 77.33%
• Insurance Stake Held by Bajaj Holdings & Investment – 18.10%
• Insurance Stake Held by Jamnalal Sons Private Limited – 4.60%

The holding structure gives the Bajaj Group significant ownership across its lending and insurance businesses, supporting strategic alignment and capital allocation across major financial services segments.

Bajaj Finserv Consolidated Financial Performance (FY2025-26)

The full-year financial results reflect steady growth supported by the lending and insurance businesses.

• Consolidated Net Profit (PAT) – Rs 9,800.97 crore (+10.47% YoY)
• Consolidated Revenue from Operations – Rs 1,50,503.77 crore (+13.21% YoY)
• Consolidated Net Worth – Rs 77,915 crore (+7.6% YoY)
• Recommended Annual Dividend – Rs 1.50 per equity share of face value Re 1
• Special Centenary Dividend – Rs 0.20 per share included to mark 100 years of the Bajaj Group

Bajaj Finserv recorded growth in both revenue and profitability during FY2025-26. The performance was supported by continued expansion in the lending business and contributions from the group’s life and general insurance subsidiaries.

Bajaj Finserv Subsidiary Performance: Bajaj Finance (FY2025-26)

Bajaj Finance remained the group’s primary lending business, reporting strong growth in assets under management and customer additions during the year.

• Consolidated Assets Under Management (AUM) – Rs 5,09,975 crore (+22% YoY)
• Standalone Full-Year Profit After Tax (PAT) – Rs 19,332 crore (+15.2% YoY)
• New Loans Booked in Q4 – 1.28 crore (12.89 million)
• Total Customer Franchise – 11.93 crore (119.33 million)
• New Customers Added During the Year – 1.75 crore (17.51 million)
• Capital Adequacy Ratio (CRAR) – 21.55%
• Tier-I Capital Ratio – 20.67%

Bajaj Finance crossed the Rs 5 lakh crore AUM milestone, supported by loan growth and customer additions. Healthy capital adequacy levels also provide financial flexibility for future business expansion.

Bajaj Finserv General Insurance Performance (FY2025-26)

The general insurance business maintained a strong capital position despite pricing pressure across key insurance categories.

• Gross Written Premium (GWP) – Rs 35,529 crore
• Regulatory Solvency Ratio – 302%
• Estimated Return on Equity (RoE) – Around 18.5% at 200% solvency
• Minimum Regulatory Solvency Requirement – 150%

The general insurance business maintained a solvency ratio significantly above the minimum regulatory requirement, providing a strong capital buffer to support underwriting operations and future business growth.

Bajaj Finserv Life Insurance Performance (FY2025-26)

The life insurance business reported healthy growth in premium collections and value of new business during the year.

• Assets Under Management (AUM) – Rs 1,33,563 crore (+7.9% YoY)
• Value of New Business (VNB) – Rs 709 crore (+29.1% YoY)
• Gross Written Premium (GWP) – Rs 11,199 crore (+21.2% YoY)
• Policyholder Bonus Distribution – Rs 1,939 crore (+5.8% YoY)

The strong growth in VNB reflects the increasing contribution of protection and savings products. Growth in premiums and assets under management also supported the overall performance of Bajaj Finserv’s insurance portfolio.

Bajaj Finserv Asset Quality and Credit Cost Metrics (As of March 31, 2026)

Asset quality metrics remained stable, supported by risk management measures and collection efforts within the lending business.

• Gross Non-Performing Assets (GNPA) Ratio – 1.01%
• Net Non-Performing Assets (NNPA) Ratio – 0.41%
• Stage 3 Provision Coverage Ratio (PCR) – 60%
• Full-Year Loan Losses and Provisions – Rs 2,008 crore
• Annualised Loan Loss to Average AUF Ratio – 1.65% in Q4
• Liquidity Buffer – Rs 15,020 crore

The moderation in credit costs and reduction in stressed assets helped strengthen the overall asset quality position. The group also maintained a substantial liquidity buffer to manage funding requirements and potential credit-related uncertainties.

Bajaj Finserv Deposit and Funding Profile (As of March 31, 2026)

The funding structure combines public deposits with other borrowing sources to maintain a diversified liability profile.

• Consolidated Public Deposit Book – Rs 68,533 crore
• Deposits as a Share of Consolidated Borrowings – 16%
• Q4 Average Cost of Funds – 7.41%
• Sequential Cost of Funds Movement – Declined by 4 basis points from Q3

Public deposits remain an important part of the funding structure, while the sequential reduction in the cost of funds supported the lending business during the quarter.

Bajaj Finserv Latest Quarterly Consolidated Performance (Q4 FY2025-26)

The final quarter results reflect growth across the lending and life insurance businesses, while the general insurance segment faced some profitability pressure.

• Consolidated Revenue from Operations – Rs 38,493.79 crore (+5.65% YoY)
• Consolidated Profit Before Tax (PBT) – Rs 6,928.10 crore (+15.42% YoY)
• Consolidated Profit After Tax (PAT) – Rs 2,538.67 crore (+5.05% YoY)
• Bajaj Finance Standalone PAT – Rs 5,464 crore (+22% YoY)
• General Insurance PAT – Rs 365 crore
• Life Insurance PAT – Rs 73 crore (+78% YoY)
• General Insurance Combined Ratio – 113.6% (vs 104.8% YoY)

Bajaj Finserv’s quarterly performance was supported by strong profit growth in Bajaj Finance and the life insurance business. However, the general insurance combined ratio increased amid changes in the business mix and pricing strategies.

Bajaj Finserv Digital Platforms and New Businesses (Q4 FY2025-26)

The group continues to expand its digital platforms and AI capabilities to improve customer service, distribution, and operating efficiency.

• Bajaj Finserv Health Transactions – 65 lakh (6.5 million) transactions processed in Q4
• Bajaj Finserv Direct Net Loss – Rs 36 crore
• Bajaj Finserv AMC Market Ranking – 26th position
• AI-Based Communication Automation Target – 100% of communication channels by June 2026
• Autonomous AI Agent Deployment Plan – More than 800 agents planned for FY2026-27

Investments in digital platforms and AI-based technologies are aimed at improving customer acquisition, service delivery, cross-selling opportunities, and processing efficiency across Bajaj Finserv’s financial services businesses.

Bajaj Finserv Management Commentary and Outlook (Q4 FY2025-26)

Management remains focused on controlling credit risks while expanding newer lending, asset management, and digital business segments.

• MSME Portfolio Reduction – Management reduced exposure by nearly 30% as part of risk management measures.

• Legacy Loan Portfolio Wind-Down – The captive two-wheeler and three-wheeler loan portfolio is expected to decline below Rs 1,500 crore by September 2026.

• Gold Loan Growth Outlook – Management expects gold loans to account for more than 5% of consolidated AUM by the end of FY2026-27.

• Crop and Motor Insurance Strategy – Exposure was selectively reduced to protect profitability amid pricing pressure.

• AI Voice Agent Adoption – Automated voice bots contributed to 18% of personal loan call centre disbursements.

• Asset Management Growth – Mutual fund AUM increased by 31.7% to more than Rs 26,800 crore.

• Credit Cost Outlook – Management expects asset quality and provisioning levels to remain manageable during the upcoming financial year.

• Workforce Expansion – Hiring will be aligned with the expansion of gold loan and microfinance branch networks.

The forward strategy focuses on expanding the group’s lending, insurance, and asset management operations while maintaining asset quality and capital discipline. Bajaj Finserv is also increasing the use of digital platforms and AI technologies to improve customer reach, cross-selling, and operating efficiency.

Citations

[1] Bajaj Finserv Limited Audit Outcome and Consolidated Financial Statements submitted to BSE Limited (April 30, 2026).
[2] Transcript of Bajaj Finserv Limited Q4 and Full-Year Ended March 31, 2026 Institutional Earnings Webinar (May 7, 2026).
[3] Bajaj Finance Limited Full Year Corporate Performance Update and Analyst Conference Presentation (April 29, 2026).
[4] Bajaj Holdings & Investment Limited Press Release and Consolidated Performance Fact Sheet (May 14, 2026).
[5] Finology Ticker Database on Bajaj Finserv Limited (BAJAJFINSV).

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Disclaimer
The information presented above on Bajaj Finserv Limited has been compiled from the company's Annual Reports, Investor Presentations, Earnings Call (Concall) Transcripts, official regulatory filings and the financial data available on Finology Ticker. Certain figures, classifications or comparisons may vary due to differences in accounting policies, reporting methodologies or subsequent restatements by the company. This content is intended solely for informational purposes and should not be considered as investment advice. Investors are advised to refer to the latest company filings and the updated financial data, ratios and disclosures available on the Finology Ticker Bajaj Finserv Limited page before making any investment decision.