Bajaj Finserv Q2 results: Net profit rises 23% to Rs 2,758 crore; NII grows 24%, AUM up 26%

Consolidated profit after tax, including minority interests, rose 25 percent to Rs 5,952 crore from Rs 4,746 crore. Shares of Bajaj Finserv were trading 1.23 percent higher at Rs 1,713 apiece in afternoon trade on Tuesday, November 3. The stock has declined 15.8 percent so far in 2026, compared with a 9.3 percent fall in the Nifty 50. The company's market capitalisation stood at Rs 2.74 lakh crore.

Bajaj Finserv said unrealised mark-to-market (MTM) movements in the equity portfolios of its insurance subsidiaries could cause temporary volatility in reported earnings. The company reported an after-tax unrealised MTM loss of Rs 177 crore during Q2 FY27, compared with Rs 161 crore a year earlier. Excluding unrealised MTM gains or losses and including realised equity gains booked under other comprehensive income (OCI), consolidated profit attributable to owners stood at Rs 2,978 crore, up 22 percent from Rs 2,449 crore in the year-ago quarter.

Bajaj Finance, the company's lending subsidiary, reported a 29 percent YoY increase in consolidated profit after tax to Rs 6,367 crore from Rs 4,948 crore. Its net total income rose 23 percent to Rs 15,974 crore from Rs 12,982 crore. Assets under management (AUM) grew 26 percent to Rs 5.84 lakh crore as of September 30, 2026, from Rs 4.62 lakh crore a year earlier. This included AUM of Rs 1.58 lakh crore at Bajaj Housing Finance, representing a 25 percent YoY increase.

Bajaj Finance added 4.42 million customers to its franchise and booked 13.45 million new loans during the quarter. Loan losses and provisions increased 4 percent to Rs 2,166 crore from Rs 2,080 crore, including management and macroeconomic provisions of Rs 337 crore. Asset quality improved, with gross non-performing assets (NPA) declining to 1.06 percent from 1.24 percent a year earlier, while net NPA fell to 0.42 percent from 0.60 percent.

The provisioning coverage ratio on Stage 3 assets stood at 60 percent. Bajaj Finance's capital adequacy ratio stood at 20.33 percent as of September 30, with Tier-I capital at 19.43 percent. Bajaj Housing Finance reported an 18 percent increase in profit after tax to Rs 757 crore from Rs 643 crore, while Bajaj Financial Securities recorded 36 percent profit growth. Bajaj General reported a decline in profit after tax to Rs 420 crore from Rs 517 crore a year earlier, even as gross written premium increased 10 percent to Rs 7,056 crore.

Excluding bulky tender-driven crop and government health businesses, premium growth stood at 21 percent. Bajaj Life reported a 40 percent YoY increase in value of new business (VNB) to Rs 512 crore from Rs 367 crore. The life insurer also commenced operations in GIFT City in October 2026.