Bajaj Finserv Q2 results: Net profit up 7.5% at Rs 2,244 crore, revenue rises 11% YoY

Bajaj Finserv Ltd on Tuesday reported a consolidated net profit of Rs 2,244 crore for the quarter ended September 2025, up 7.5 percent from Rs 2,087 crore a year earlier. Consolidated total income grew 11 percent year-on-year to Rs 37,403 crore from Rs 33,704 crore. For the first half of FY26, total income rose 12 percent to Rs 72,854 crore, while profit after tax climbed 19 percent to Rs 5,033 crore.

Bajaj Finserv shares were trading down 6.5 percent at Rs 1,979 on NSE, under pressure since opening today after group firm Bajaj Finance showed worsening asset quality in Q2, and a cut in growth guidance.

Segment performance

Under its finance and insurance businesses, Bajaj Finance Ltd posted a consolidated profit after tax of Rs 4,876 crore, up 22 percent from Rs 4,000 crore in Q2 FY25. Its customer franchise grew by 4.13 million, and the number of new loans booked stood at 12.17 million. The mortgage subsidiary Bajaj Housing Finance Ltd (BHFL) reported an 18 percent rise in profit after tax to Rs 643 crore.

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Consolidated assets under management (AUM) stood at Rs 4.62 lakh crore, a 24 percent increase year-on-year. Gross and net NPAs were at 1.24 percent and 0.6 percent, respectively, with a provisioning coverage ratio of 52 percent. Capital adequacy ratio stood at 21.23 percent.

Bajaj General Insurance reported a 9 percent rise in gross written premium to Rs 6,413 crore. Excluding the impact of large tender-driven government contracts and accounting changes for long-term products, underlying business growth was 18 percent. The insurer’s profit after tax increased 5 percent to Rs 517 crore.

Bajaj Life Insurance recorded a 50 percent growth in value of new business (VNB) to Rs 367 crore, driven by product restructuring, a favourable mix, and cost rationalisation under its “Life 2.0” strategy. The new business margin improved to 14.8 percent -- the highest ever on a half-yearly basis.

Emerging and new businesses

The company continued to expand its emerging ventures, including Bajaj Finserv Health, Bajaj Finserv Direct, and Bajaj Finserv Asset Management. Losses from these businesses stood at Rs 141 crore for Q2 FY26, in line with expectations. Bajaj Finserv Asset Management reported assets under management of Rs 28,814 crore as of September 30, 2025.

During the quarter, Bajaj Finserv also established Bajaj Alternate Investment Management Ltd, a wholly owned subsidiary aimed at expanding into alternative asset classes such as early-stage equity and real estate-focused alternative investment funds (AIFs). The company is in the process of securing regulatory approvals to commence operations.

Allianz stake acquisition update

Bajaj Finserv confirmed progress on its previously announced plan to acquire Allianz SE’s 26 percent stakes in its life and general insurance arms. Approvals have been received from the Competition Commission of India (CCI) and the Insurance Regulatory and Development Authority of India (IRDAI). Following Registrar of Companies (RoC) approval on October 7, 2025, the two entities have been renamed Bajaj Life Insurance Ltd and Bajaj General Insurance Ltd.

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