Bajaj Finance Q4 FY26: AUM crosses ₹5 lakh crore, PAT grows 27% to ₹5,660 crore

Bajaj Finance has delivered strong financial performance for Q4 FY26, with assets under management (AUM) crossing the ₹5 lakh crore milestone. The AUM stood at ₹509,975 crore as of 31 March 2026, representing 22% growth from ₹416,661 crore in the previous year. The company booked 12.89 million new loans during the quarter and added 3.93 million new customers, taking the total customer franchise to 119.33 million.

Q4 FY26 Financial Performance

The company reported robust profitability metrics for the quarter. Profit before tax grew 26% to ₹7,552 crore, while profit after tax increased 27% to ₹5,660 crore. Net interest income grew 20% to ₹11,781 crore and net total income increased 21% to ₹14,209 crore. The annualised return on assets (ROA) stood at 4.7% and return on equity (ROE) at 20.0%, both showing improvement from the previous year.

Financial Metric Q4 FY26 Q4 FY25 Growth Profit Before Tax ₹7,552 crore ₹6,006 crore 26% Profit After Tax ₹5,660 crore ₹4,466 crore 27% Net Interest Income ₹11,781 crore ₹9,808 crore 20% Net Total Income ₹14,209 crore ₹11,755 crore 21% Annualised ROA 4.7% 4.5% - Annualised ROE 20.0% 18.7% -

Asset Quality and Capital Adequacy

Asset quality showed improvement during the quarter. Gross NPA stood at 1.01% and net NPA at 0.41% as of 31 March 2026, compared to 0.96% and 0.44% respectively in the previous year. The provisioning coverage ratio on stage 3 assets improved to 60% from 54% in the previous year. Capital adequacy remained strong at 21.55%, with Tier-1 capital at 20.67%.

The company recorded an additional expected credit loss (ECL) provision of ₹142 crore towards management and macro-economic overlay in Q4 FY26. Additionally, the company revised the presentation of recoveries against written-off loans from 'Other Operating Income' to 'Loan Losses and Provisions' across all periods, which led to a reduction in net total income and related ratios, with no impact on profit before and after tax.

Subsidiary Performance

Bajaj Housing Finance Limited (BHFL) reported AUM of ₹140,706 crore, growing 23% from the previous year. The subsidiary delivered profit after tax of ₹669 crore in Q4 FY26, with net NPA at 0.11%. Capital adequacy ratio stood at 22.46% with Tier-1 capital at 22.01%.

Bajaj Financial Securities Limited showed strong growth with AUM increasing 77% to ₹7,984 crore. The company added 124,000 customers during the quarter, taking the total customer franchise to 1.38 million. Profit after tax grew 50% to ₹54 crore.

Dividend Declaration

The Board of Directors has recommended a final dividend of ₹6.00 per equity share of face value of ₹1 each for FY26. This includes a special payout of ₹0.60 per equity share out of the exceptional gain on sale of BHFL shares. The previous year's overall dividend was ₹5.60 per equity share, adjusted for split and bonus.

Bajaj Finance Limited has successfully completed the allotment of secured redeemable non-convertible debentures (NCDs) worth ₹2004.31 crore through private placement. The Debenture Allotment Committee approved the allotment during its meeting held on 17 April 2026, which commenced at 01:00 p.m. and concluded at 01:30 p.m.

Debenture Issue Details

The company allotted 2,00,400 NCDs with a face value of ₹1,00,000 each, aggregating to ₹2004.31 crore. The debentures have been assigned the ISIN INE296A07TW7 and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

Parameter: Details Issue Size: 2,00,400 NCDs of ₹1,00,000 each Total Value: ₹2004.31 crore Allotment Date: 17 April 2026 Maturity Date: 17 April 2029 Tenure: 1096 Days ISIN: INE296A07TW7

Interest and Payment Structure

The NCDs offer a competitive coupon rate of 7.77% per annum with annual payment frequency. The structured payment schedule ensures regular income for investors over the three-year tenure.

Payment Date: Type 17 April 2027: First Coupon Payment 17 April 2028: Annual Coupon Payment 17 April 2029: Final Coupon and Principal

Security and Listing Features

The debentures are secured by a first pari-passu charge on book debts and loan receivables. The security cover is maintained at not less than 1.00 time the aggregate outstanding value of debentures issued under this arrangement. This security structure provides additional protection for investors' interests.

The NCDs are redeemable on maturity and do not carry any special rights, interests, or privileges. The company has confirmed no delays in payment or defaults, and no special comments regarding payment matters have been reported.

Corporate Compliance

The allotment was conducted in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled all regulatory requirements for the private placement of secured debentures, ensuring transparency and adherence to market regulations.

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