India · Delayed Price · Currency is INR Bajaj Finserv Earnings Call Transcripts
Fiscal Year 2026
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Consolidated income grew 6% year-over-year, with adjusted growth at 14% excluding temporary MTM losses. Insurance subsidiaries are now fully owned, lending and AMC businesses posted strong growth, and new product launches are planned across segments.
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Consolidated income rose 24% year-over-year, with strong growth across insurance, lending, and asset management segments. Exceptional items, including labor code and ECL provisions, impacted PAT, but underlying business momentum remains robust.
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Consolidated income grew 11% and profit after tax rose 8% year-over-year, with insurance and lending segments outperforming industry growth. Life insurance margins expanded significantly despite GST-related headwinds, and asset management AUM surged 77%.
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Consolidated income rose 13% and PAT 30% year-over-year, with insurance and lending arms delivering strong growth and profitability. Insurance margins and VNB improved, while lending AUM and asset quality remained robust. AMC AUM more than doubled year-over-year.
Fiscal Year 2025
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Consolidated income and PAT grew 14% year-over-year, with insurance and lending segments outperforming industry benchmarks in core lines. Regulatory changes impacted reported growth, but underlying business momentum and profitability remain strong.
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The acquisition of Allianz's 26% stake in the insurance JVs gives the group full ownership, enabling strategic flexibility, improved capital efficiency, and the ability to pursue new growth opportunities. The deal, valued at INR 24,180 crore, is self-funded and expected to close within 15 months, pending regulatory approvals.
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Consolidated income grew 10% year-over-year, with strong profit growth in both general and life insurance segments. Lending and digital platform businesses reported robust customer and loan growth, while regulatory changes and product mix adjustments impacted insurance top-line.
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Consolidated revenue grew 30% year-over-year, with strong profit growth and robust performance across insurance and finance segments. Margin pressures persist in life insurance due to product mix and regulatory changes, while surplus capital is earmarked for health and AMC investments.
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Q1 FY25 delivered strong growth in insurance and lending, with consolidated PAT up 10% and robust AUM expansion. One-time items and regulatory changes impacted margins, but medium-term outlook remains positive, with continued investments in emerging businesses and digital platforms.