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Bajaj Finance
SectorFinancial Services
In the news
Bajaj Finance Q2 results 2026: 29% profit jump expected
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Bajaj Finance raises FD rates by up to 40 bps post RBI hike
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Bajaj Finance surges 5% on strong Q2 updates, Jefferies expects 34% profit growth
Bajaj Finance Q2 results today: AUM rises 26.5% to ₹5.85L cr, shares surge 3%
India's Unsecured Credit Cycle: NBFCs Navigate Gold Loan Slowdown
Bajaj Finance Shares Fall 5% as Company Plans ₹15,000 Cr Capital Raise
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₹49 lakh crore market-cap wipeout! Nifty giants face value trap debate
LIC Subscribes ₹5,000 Cr Bajaj Finance NCDs at 8.15% Coupon
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Nomura raises Bajaj Finance target to ₹1,270 amid regulatory risks
The Quarter story
The two most recent quarterly results, compared side-by-side.
Bajaj Finance scales assets to ₹4.00 Lakh Cr with surging profits and lower funding costs, though rising gross NPAs warrant monitoring.
AUM grew from ₹3,25,438 Cr to ₹4,00,388 Cr from Q1 FY26 to Q1 FY27, reflecting robust portfolio expansion.
Gross NPA rose from ₹319 Cr in Q3 FY26 to ₹5,241 Cr in Q1 FY27, signaling emerging asset quality stress.
Cost of funds fell from 7.82% to 7.21% from Q1 FY26 to Q1 FY27, boosting net interest margins.
MSME lending AUM slipped from ₹52,538 Cr to ₹51,320 Cr from Q1 FY26 to Q1 FY27, reflecting cautious small business borrowing.
Gold loan AUM surged from ₹9,989 Cr to ₹21,152 Cr from Q1 FY26 to Q1 FY27, capturing strong rural liquidity demand.
Home loan AUM expanded from ₹67,255 Cr to ₹80,865 Cr from Q1 FY26 to Q1 FY27, indicating steady housing market uptake.
Annualised loan loss to average AUF dropped from 2.66% to 2.07% from Q1 FY26 to Q1 FY27, showing improving credit efficiency.
Company insights, generated from the most recent coverage.
Excess capital is not free — surplus from the prior ₹10,000 Cr QIP plus the BHFL listing forced ROE guidance down from 21-22% to 19-21%. Over-raising carries a visible earnings cost, which caps how large any single raise can be.
CRAR depletes on a predictable clock: peaks near 24-25% post-raise, erodes 2-3 percentage points as AUM compounds at 22-24%, and hits the ~20-21% action zone in roughly three years. That arithmetic, not management discretion, sets the cadence.
Raise size is scaling faster than the asset base it funds — 2019 to 2026 raise grew 106% while AUM grew ~370%. Absolute cheque size is set by growth ambition, not by capital intensity.