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Bajaj Finserv Q1FY27 Results update

4 Aug 2026, 12:11PM

Consolidated PAT rose 12% y-o-y to Rs. 3,132 crore as total income grew 19% y-o-y to Rs. 42,037 crore.
Bajaj Finance was the primary earnings engine, with consolidated PAT rising 28% y-o-y.
Life insurance delivered standout numbers, with VNB rising 87% y-o-y to and new business margin expanding ~480 bps y-o-y to 15.9%, even after absorbing a ~290 bps GST-related headwind.
General insurance segment’s growth was more measured as the management continued to prioritise underwriting discipline over volume amid a soft motor and crop pricing cycle. We maintain BUY with a revised SOTP-based target price of Rs. 2,380.

Bajaj Finserv consolidated

Particulars	Q1FY27	Q1FY26	y-o-y %	Q4FY26	QoQ %
Total Income	42,037	35,300	19.1	38,508	9.2
Total Expenses	33,110	28,097	17.8	31,591	4.8
Profit Before Exceptional Item & Tax	8,927	7,203	23.9	6,917	29.1
Exceptional Item (New Labour Codes)	-	-	-	-	-
Profit Before Tax	8,932	7,204	24	6,928	28.9
PAT before minority interest	6,297	5,329	18.2	5,226	20.5
Net Profit	3,132	2,789	12.3	2,539	23.4

Bajaj Finance

Particulars	Q1FY27	Q1FY26	y-o-y %	Q4FY26	QoQ %
Interest income	20,513	17,145	19.6	19,179	7
Interest expenses	7,942	6,918	14.8	7,398	7.4
Net interest income	12,571	10,227	22.9	11,781	6.7
Other operating income	2,653	2,232	18.9	2,428	9.3
Net total income	15,224	12,459	22.2	14,209	7.1
Operating expenses	5,087	4,123	23.4	4,801	6
Pre-provisioning operating profit	10,137	8,336	21.6	9,408	7.7
Loan losses and provisions	1,993	1,969	1.2	2,008	-0.7
Profit before tax	8,149	6,368	28	7,410	10
Profit after tax	6,081	4,765	27.6	5,464	11.3