Bajaj Finserv Ltd (BOM:532978)

Q1 2027 Bajaj Finserv Ltd Earnings Call Transcript

Jul 31, 2026 / 11:45 AM GMT

Release Date Price: ₹2035 (+6.60%)

Transcript

Key Points

Positve

Bajaj Finserv Ltd (BOM:532978) reported strong consolidated growth, with total income up 19% and profit after tax up 18% year-on-year.
Bajaj Life delivered a robust performance with retail WRP growing 17.5%, VNB surging 87%, and new business margins expanding to 15.9% from 11.1%.
Bajaj Finance continued its strong momentum with a 27.6% PAT growth, improved asset quality (GNPA at 0.96%), and a strong capital adequacy ratio of 20.9%.
Bajaj Housing Finance maintained excellent asset quality with GNPA at 0.29% and NNPA at 0.12%, while achieving 24% growth.
The company is confident in its path to profitability for emerging businesses, with Bajaj Finserv Direct expected to break even in Q3/Q4 of FY27 and Bajaj Finserv Health in FY28.
Bajaj Markets is back on a growth trajectory with a 32% increase in operating revenue, driven by a stable and predictable trail revenue base.
The board approved setting up a reinsurance company, which is a natural progression to further strengthen insurance capabilities.
Bajaj Asset Management Company saw AUM grow 26% to ₹31,400 crores, with a strong 63% equity mix and a 66% surge in SIP books.

Negative

Bajaj General Insurance's underwriting loss widened to ₹130 crores from ₹116 crores, with an elevated combined ratio of 104.7% due to high health loss ratios and pricing pressures.
The general insurance business experienced a tactical reduction in the motor segment due to elevated pricing pressures, leading to lower-than-industry growth.
Both insurance companies saw a decline in profits due to lower capital gains booked in the quarter, impacted by the external macro environment and ESB impact.
Bajaj Finserv Health registered a small degrowth in transactions due to restructuring required in some partnerships following new RBI regulations.
The company acknowledged some persistency issues across certain cohorts in the life insurance business, which is in line with market trends.
The general insurance market is currently soft, with pricing lower than average across all lines, which could continue to stress underwriting results.
Bajaj Housing Finance's net interest income growth was muted at 9% due to attrition of higher-rate portfolios.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BJFS.NS - Bajaj Finserv Ltd
Q1 2027 Bajaj Finserv Ltd Earnings Call
Jul 31, 2026 / 11:45AM GMT

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Presentation
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Unidentified_1 [1]
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Limited Q1F27 earnings GM Financial Limited.

The lines will be in, there will be an opportunity for you to ask questions at the end of today's presentation.

Should you need assistance during the conference call, please data by pressing then 0 on your touchstone phone.

Please note that this conference is being recorded.

I would now like to hand the conference over to Mr.

Davish from GM Financial Limited, thank you, and

Thank thank you, ma'am.

Good evening, everyone.

Welcome to the Q1 F I 27 earnings conference call for General Limited.

First, I would like to thank the management.

For giving us the opportunity to host this call.

As

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