Bajaj Finserv Reports Record Q1 FY26 Consolidated PAT, Up 30% to ₹2,789 Crore
The announcement details strong financial performance for Q1 FY26, including record profits, and provides updates on significant strategic developments like the Allianz stake acquisition, which are material to the company's future structure and earnings potential.
The company reported an all-time high consolidated PAT, with strong growth across its key financial services businesses, including insurance and lending. The strategic acquisition of the remaining Allianz stake is progressing well, indicating positive future outlook.
Bajaj Finserv Limited (BFS) announced its consolidated financial results for the first quarter ended 30 June 2025, reporting an all-time high quarterly Profit After Tax (PAT). * Consolidated total income grew 13% to ₹35,451 crore from ₹31,480 crore in Q1 FY25. * Consolidated PAT increased 30% to ₹2,789 crore from ₹2,138 crore in Q1 FY25. The difference between PAT and PBT growth (21%) is due to higher tax on dividends in Q1 FY25. * Bajaj Allianz General Insurance Company (BAGIC): * Gross Written Premium (GWP) grew 9% to ₹5,202 crore. Excluding crop and Government Health business, GWP grew 10% to ₹5,107 crore. * Excluding the 1/N regulations impact, BAGIC's core business growth was a healthy 15%, outpacing the industry's 14%. * PAT increased 15% to ₹660 crore. * Return on Equity (ROE) was 21.4%. * Combined ratio was 103.6%, though on a comparable basis (excluding 1/N impact), it was 102.5%, down 1.2% year-on-year. Management aims to keep the combined ratio close to 100% and emphasized customer obsession and lowest grievance ratios in the industry. * Bajaj Allianz Life Insurance Company (BALIC): * GWP grew 9% to ₹5,479 crore. * PAT grew 76% to ₹171 crore, primarily due to higher investment income. * Value of New Business (VNB) increased 39% to ₹145 crore. * New Business Margin (NBM) expanded by 4.2% to 11.1%. * Retail protection business grew 53% to ₹110 crore. * The company's "BALIC 2.0" strategy focuses on sustainable and profitable growth, with positive outcomes in VNB and NBM despite muted top-line growth. Management expects healthy growth to return in H2 FY26 for the agency channel. * Bajaj Finance Limited (BFL): * New loans booked increased 23% to 13.49 million. * Assets Under Management (AUM) grew 25% to ₹4,41,450 crore. * Consolidated Net Total Income grew 21% to ₹12,610 crore. * Consolidated PAT grew 22% to ₹4,765 crore. * Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) stood at 1.03% and 0.86% respectively. * Bajaj Housing Finance Limited (BHFL): * AUM grew 24%. * Net Interest Income grew 33% to ₹887 crore. * PAT grew 21% to ₹583 crore. * GNPA and NNPA stood at 0.3% and 0.13% respectively. * Other Businesses: * Bajaj Finserv Health Limited: Carried out 5.8 million health transactions (up from 2.05 million), expanding provider network to 130,000+ doctors and 15,500+ hospitals. * Bajaj Markets: Added 4 new partners, leading to a total of 100 unique partners. Lending disbursements at ₹1,210 crore. Top line fell to ₹92 crore due to a scheduled digital journey change, but growth is expected from Q2. * Bajaj Finserv AMC: AUM reached ₹25,011 crore as on 30 June 2025, up 107% year-on-year, becoming the fastest to cross the ₹25,000 crore mark. * Allianz JV Update: Approvals for Bajaj Finserv's acquisition of 26% stake in BAGIC and BALIC from Allianz SE have been received from both the Competition Commission of India and the Insurance Regulatory and Development Authority of India. The initial first tranche (minimum 6.1%) is due within 6 months of IRDAI approval, after which the existing joint venture agreements will terminate. * Both insurance companies maintain high solvency ratios (BALIC 343%, BAGIC 334%).
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