Bajaj Finserv has reported a steady performance in Q2FY26, reflecting growth across its core financial services businesses. The company’s consolidated net profit rose 7.5% YoY to ₹2,244 crore, while revenue grew 11% YoY to ₹37,403 crore.
Despite broader market fluctuations, Bajaj Finserv’s businesses showed resilience, supported by strong performance from its subsidiaries in lending, insurance, and investment management.
Market Performance: Q2 Snapshot
Bajaj Finserv’s Q2 numbers capture a blend of stability and growth:
- Consolidated Net Profit: ₹2,244.10 crore, up 7.5% YoY (₹2,086.97 crore last year)
- Revenue: ₹37,402.93 crore, up 11% YoY (₹33,703.74 crore last year)
The results underline a steady business trajectory, with growth spread across lending, insurance, and asset management.
Company Overview
Bajaj Finserv operates as an unregistered Core Investment Company (CIC), holding stakes in key financial businesses:
- Bajaj Finance: 51.32%
- Bajaj General Insurance & Bajaj Life Insurance: 74%
Through these subsidiaries, the group participates in lending, life, general, and health insurance segments.
Subsidiary Performance Highlights
Bajaj Finance Q2 Results
Bajaj Finance, the group’s lending arm, showed strong earnings and asset growth:
- Net Profit: ₹4,948 crore, up 23% YoY
- Net Interest Income: ₹10,785 crore, up 22% YoY
- Assets Under Management (AUM): ₹462,261 crore, up 24% YoY
- Gross NPA / Net NPA: 1.24% / 0.60% vs 1.06% / 0.46% last year
The company maintained asset quality while expanding its lending portfolio significantly.
Bajaj General Insurance Q2 Results
The insurance arm also posted moderate growth:
- Net Profit: ₹517 crore, up 5% YoY
- Gross Written Premium: ₹6,413 crore, up 9% YoY
- Claim Ratio: Improved to 75.8% from 79.7% YoY
- Combined Ratio: 102.3%
- Solvency Ratio: 339%
- AUM (Cash & Investments): ₹34,974 crore, up 9% YoY
- Underwriting Loss: ₹92 crore, up from ₹48 crore due to higher acquisition costs
The business displayed solid underwriting discipline, even with higher acquisition costs on key segments.
Bajaj Life Insurance Q2 Results
Bajaj Life Insurance delivered growth in premiums, though net profit was affected:
- New Business Premium: ₹4,012 crore, up 25% YoY
- Renewal Premium: ₹4,354 crore, up 30% YoY
- Gross Written Premium: ₹8,366 crore, up 28% YoY
- Net Profit: ₹13 crore, down from ₹148 crore, impacted by GST input tax credit loss
- Value of New Business (VNB): ₹367 crore, up 50% YoY
- Solvency Ratio: 346%
- AUM (Total Investments): ₹132,060 crore, up 7% YoY
The company’s premium growth reflects strategic product mix changes and cost rationalization, while solvency remained robust.
Summary
Bajaj Finserv’s Q2FY26 results highlight a balanced performance across lending, insurance, and investment businesses:
- Consolidated profit and revenue grew steadily, reflecting operational strength.
- Bajaj Finance led with strong net profit and AUM growth.
- Insurance subsidiaries delivered stable premiums and maintained solvency ratios.
- Life Insurance focused on product restructuring and value creation despite profit pressures.
Overall, Bajaj Finserv continues to show resilience, leveraging diversified financial services offerings and steady business fundamentals.
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