Bajaj Finserv Q1 net profit rises 12% YoY to ₹3,132 crore; total income up 19%

Bajaj Finserv Ltd on Friday reported a 12% year-on-year rise in consolidated net profit attributable to the company's owners at ₹3,132 crore for the first quarter of FY27, while consolidated total income increased 19% to ₹42,037 crore from ₹35,300 crore a year earlier. The financial services major's performance was driven by strong growth in its lending business, led by Bajaj Finance.

Its lending arm, Bajaj Finance, remained the key earnings driver during the quarter, with consolidated net profit rising 28% to ₹6,081 crore and net total income increasing 22% to ₹15,224 crore. Assets under management (AUM) expanded 24% year-on-year to ₹5.47 lakh crore as of June 30, 2026. Asset quality improved further, with gross and net non-performing assets declining to 0.96% and 0.39%, respectively.

During the quarter, Bajaj Finance added 5.10 million customers to its franchise and booked 16.13 million new loans. Its housing finance subsidiary, Bajaj Housing Finance Ltd (BHFL), reported a 23% increase in net profit to ₹715 crore.

Bajaj General Insurance posted an 11% increase in gross written premium to ₹5,789 crore. However, its net profit declined 28% to ₹478 crore from ₹660 crore a year ago, primarily due to lower investment income and a higher combined ratio of 104.7%. Excluding tender-driven crop and government health insurance business, gross written premium rose 10%.

Bajaj Life Insurance reported robust business growth, with new business premium rising 59% to ₹3,678 crore and gross written premium increasing 35% to ₹7,399 crore. Its value of new business (VNB), a key profitability metric for life insurers, surged 87% to ₹271 crore despite the impact of the non-availability of GST credit. However, shareholders' net profit fell 70% to ₹51 crore from ₹171 crore in the corresponding quarter last year.

Among its emerging businesses, Bajaj Asset Management reported quarterly average AUM of ₹33,027 crore, while Bajaj Finserv said losses from its emerging businesses stood at ₹130 crore, in line with expectations. The company also said Bajaj Alternate Investment Management has received regulatory approvals for portfolio management services, a real estate fund and a private equity fund, which are expected to commence operations shortly.

Bajaj Finserv is the holding company for the Bajaj group's financial services businesses, with interests spanning lending, insurance, health tech, wealth management and digital financial services. It is also expanding its presence in asset management and alternate investment businesses.