Bajaj Finserv reports strong Q2 FY26 consolidated growth; Insurance and Lending businesses perform well
Bajaj Finserv reported strong Q2 FY26 consolidated results, with 11% income growth and 8% PAT growth. Insurance and lending businesses showed robust performance, and emerging ventures progressed well. Concall transcript released.
This announcement provides comprehensive financial results for a diversified financial services group, including detailed performance of its major subsidiaries and strategic updates. Such information is critical for investors to assess the company's financial health, operational efficiency, and future outlook.
The company reported healthy consolidated income and PAT growth, strong performance in key lending businesses, and significant VNB and NBM expansion for Bajaj Life. While Bajaj General saw increased underwriting losses and Bajaj Life's PAT was impacted by GST, management expressed confidence in mitigating these issues and continuing profitable growth.
* Bajaj Finserv Limited announced the release of the transcript of its investors conference call, held on 11 November 2025, concerning the financial results for the quarter and half year ended 30 September 2025. * The consolidated total income for Q2 FY26 grew by 11% to ₹37,400 crore, compared to ₹33,700 crore in the same quarter last year. * Consolidated profit after tax (PAT) increased by 8% to ₹2,244 crore, up from ₹2,087 crore year-on-year. Excluding the MTM movement of insurance companies, PAT growth was a healthy 12%. * Bajaj General Insurance Limited: * Gross Written Premium (GWP) increased by 9% to ₹6,413 crore (13.6% excluding 1/n impact). * Underwriting losses stood at ₹92 crore, up from ₹48 crore in the prior year. * Reported combined ratio was 102.3% (101.4% excluding 1/n impact). * Profit after tax grew 5% to ₹517 crore. * Assets Under Management (AUM) reached ₹35,000 crore. * Management noted outperformance against the market with balanced and profitable growth driven by prudent underwriting. * Bajaj Life Insurance Limited: * Value of New Business (VNB) increased significantly by 50% to ₹367 crore. * New Business Margins (NBM) expanded to 17.1% from 10.8% last year. * Retail protection grew 71%, and overall GWP grew 28%. * PAT was ₹13 crore, impacted by a ₹112 crore GST effect, compared to ₹148 crore last year. * AUM stood at ₹1,32,060 crore. * Management stated that the Bajaj Life 2.0 strategy is yielding sustainable and profitable growth, and they are confident in mitigating the short-term GST impact within the next two quarters. * Lending Businesses (Bajaj Finance and Bajaj Housing Finance): * Bajaj Finance recorded a 26% growth in new loans booked (1.2 crore) and a 24% AUM growth to ₹4,62,000 crore. * Bajaj Finance's Net total income grew 20% to ₹13,170 crore, with PAT up 23% to ₹4,948 crore. * Bajaj Housing Finance reported 24% AUM growth and 18% PAT growth to ₹643 crore. * Emerging Companies: * Bajaj Finserv Health Limited performed 6.2 million health transactions, with revenue growing 22%. * Bajaj Finserv Asset Management Company Limited's AUM reached ₹28,815 crore as of 30 September 2025, crossing ₹30,000 crore subsequently, marking it as the fastest to achieve this milestone in under two years. * Approvals for the acquisition of Allianz's stake in the insurance companies and name changes have been received, with the conclusion expected in the coming months.
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Bajaj Finserv 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 high impact, which is the band that most often changes something.
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