Mumbai: Bajaj Finance Limited (BSE: 500034, NSE: BAJFINANCE), a leading non-banking financial company (NBFC), announced its unaudited standalone and consolidated financial results for the third quarter and nine months ended 31 December 2025. The Board of Directors approved the results, which reflect strong underlying business performance overshadowed by significant one-time provisions aimed at bolstering future resilience.
Consolidated Financial Snapshot: Q3 FY26 (Quarter Ended Dec 2025)
-
Profit Before Tax (PBT): ₹5,431 crore (Down 6% YoY)
-
Profit After Tax (PAT): ₹4,066 crore (Down 6% YoY)
-
Pre-Provision Operating Profit (PPOP): ₹9,319 crore (Up 19% YoY)
-
Assets Under Management (AUM): ₹4,84,477 crore (Up 22% YoY)
-
Net Interest Income (NII): ₹11,317 crore (Up 21% YoY)
Key Driver of Reported Profit Decline: The reported PBT and PAT were impacted by two major one-off items:
-
Accelerated ECL Provision: A ₹1,406 crore provision to implement a minimum Loss Given Default (LGD) floor, enhancing balance sheet resilience.
-
New Labour Code Charge: A one-time exceptional charge of ₹265 crore for increased gratuity liabilities.
Excluding these items, the underlying performance was robust:
-
Pre-provision PBT: Grew 23% to ₹7,102 crore.
-
Pre-provision PAT: Grew 23% to ₹5,317 crore.
Also Read: NMDC Q3 FY26 Net Profit at ₹1,738 Crore, Declares ₹2.50 Per Share Dividend
Key Business Highlights & Growth Metrics
-
Customer Franchise: Grew to 115.4 million (up 19% YoY), adding 4.76 million new customers in the quarter.
-
New Loans Booked: 13.90 million (up 15% YoY).
-
Asset Quality: Gross NPA at 1.21% and Net NPA at 0.47% as of 31 Dec 2025. Provision coverage on stage 3 assets at 61%.
-
Capital Adequacy: Strong CRAR at 21.45%, with Tier-I capital at 20.60%.
Segment-Wise AUM Growth (Consolidated)
The company's diversified portfolio showed broad-based growth:
-
Mortgages (via Bajaj Housing Finance): ₹1,52,747 crore (25% growth)
-
Urban B2C Loans: ₹99,878 crore (20% growth)
-
MSME Lending: ₹51,136 crore (11% growth)
-
Commercial Lending: ₹33,184 crore (27% growth)
-
Gold Loans & MFI Business: Showed exceptional growth of 94% and 118% respectively, albeit on a smaller base.
Subsidiaries Performance
-
Bajaj Housing Finance Ltd (BHFL): PAT grew 21% YoY to ₹665 crore; AUM at ₹1.33 lakh crore.
-
Bajaj Financial Securities Ltd (BFinsec): PAT surged 74% YoY to ₹61 crore; Customer base grew 37%.
Board & Regulatory Compliance
-
The results were reviewed by the Audit Committee and approved by the Board of Directors.
-
The company submitted requisite certificates confirming 100% asset cover for its listed Non-Convertible Debentures (NCDs) as of 31 Dec 2025, as verified by the joint statutory auditors.
-
It also certified that proceeds from commercial papers and recent NCD issuances (totalling ~₹3,720 crore in Q3) were utilized for disclosed purposes, with no deviations.
Management Commentary
Mr. Rajeev Jain, Vice Chairman & Managing Director, stated that the accelerated ECL provision was a proactive step to strengthen the balance sheet against global economic volatility. The underlying metrics, including a 19% growth in PPOP and controlled operating expenses, underscore the strength of the core business.
About Bajaj Finance Limited
Bajaj Finance Limited, part of the Bajaj Finserv group, is one of India's most diversified NBFCs. It holds the highest domestic credit ratings and serves a vast customer franchise across consumer and commercial lending, with a significant presence in housing finance and securities.