Bajaj Finance Q2 FY26 Earnings Call Transcript and Updates
Bajaj Finance Q2 FY26 earnings call transcript released. AUM grew 24% to ₹4,62,261 crore. FY26 AUM growth revised to 22-23%. Cost of funds improved to 7.52%. FinAI transformation underway.
The announcement provides a comprehensive update on the company's performance and future outlook, which is relevant to investors. However, the revision in AUM growth guidance and elevated credit costs suggest a moderate level of impact.
The announcement discusses positive growth in AUM and customer base, along with improvements in operating efficiencies and a stable outlook for credit costs. The company's strategic focus on technology and AI also contributes to a positive sentiment.
* Bajaj Finance held its Q2 FY26 earnings conference call on 10 November 2025, co-hosted by JP Morgan. * Assets under management (AUM) grew by 24% to ₹4,62,261 crore, driven by secular growth across businesses. New business lines contributed 3% of overall AUM growth. * Customer franchise expanded to 110.64 million, with 4.13 million new customers added in Q2. The company expects to add 16 to 17 million new customers in FY26. * AUM growth guidance for FY26 has been revised to 22-23% due to risk actions in the MSME business. * Cost of funds improved by 27 basis points to 7.52% in Q2. The company expects the cost of funds for FY26 to be between 7.5% to 7.55%. * Operating efficiencies improved, with opex to NTI at 32.6% as against 33.2% in Q2 last year. * Credit costs remained elevated in Q2, with loan loss to average AUF at 2.05%. The company expects full-year credit costs to be within 1.85% to 1.95% for FY26 and significant improvements in FY27. * GNPA and NNPA came in at 124 basis points and 60 basis points, respectively. * The management assessment for rural B2C and MFI has improved from yellow to green. * The company is implementing FinAI transformation across each line of business, expecting cost and productivity benefits over the next 12-18 months. * 442 AI voice bots are live and contributed ₹2,000 crore of origination in Q2. 85% of customer service resolutions in Q2 were resolved via AI-powered service bots. * The Board of Directors has approved the elevation of Mr. Manish Jain as the fourth Deputy CEO of the company. * The company disbursed a record 6.3 million loans during the festive season, up 27% in volume and 29% in value over last year. * Management is confident of delivering sustainable growth, managing risk proactively, and leveraging technology and AI to create long-term shareholder and stakeholder value. * According to Rajeev Jain, the company is taking a prudent and balanced stance on AUM growth for FY'26 and is focused on delivering sustainable growth, managing risk proactively, and leveraging technology and AI to create long-term shareholder and stakeholder value.
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Bajaj Finance Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Bajaj Finance Limited. Read the original for the full detail.