Bajaj Finance Limited · NSE:BAJFINANCE
Bajaj Finance — Q4 FY25 Earnings Presentation
81 slides from Bajaj Finance's earnings presentation, Apr 29, 2025
Slide 1: Exchange filing cover letter: Investor Presentation for quarter ended 31 March 2025
29 April 2025 THE MANAGER, THE MANAGER, BSE LIMITED LISTING DEPARTMENT DCS - CRD NATIONAL STOCK EXCHANGE OF INDIA LTD. PHIROZE JEEJEEBHOY TOWERS EXCHANGE PLAZA, C-1. BLOCK G, DALAL STREET, BANDRA - KURLA COMPLEX, BANDRA (EAST) MUMBAI - 400 001 MUMBAI - 400 051 SCRIP CODE: 500034 SCRIP CODE: BAJFINAN
Slide 2: Q4 FY25 Investor Presentation
Q4 FY25 Investor Presentation 29 April 2025
Slide 3: Presentation Path
Presentation Path Section 01 Section 02 Section 03 Section 04 Section 05 Executive Long-term Bajaj Finance Financial Asset liability summary – Q4 strategic Limited performance- management FY25 and FY25 roadmap overview Q4 FY25 3 25 30 44 49 Section 06 Section 07 Section 08 Section 09 Section 10 Cust
Slide 4: Section 01: Executive summary – Q4 FY25 and FY25
1.1 Quarter and year gone by Section 01 1.2 Lead financial indicators Executive summary – Q4 FY25 and FY25 1.3 Consolidated financial performance – FY25 1.4 Management assessment for FY26 3
Slide 5: Q4 FY25 Executive summary - Consolidated
Q4 FY25 Executive summary - Consolidated A good quarter on volume, AUM, Opex and credit cost. PBT excluding the additional ECL provision for annual model redevelopment was up 18%. ROA and ROE were steady. Delivered AUM growth of ₹ 18,618 crore to ₹416,661 crore, booked 10.70 MM new loans and added 4
Slide 6: One-timers in Q4 FY25 P&L statement
One-timers in Q4 FY25 P&L statement The Company had 2 one-timers in Q4 FY25: 1. In Q4, the Company conducted annual refresh of its ECL model, incorporating the last 12 months portfolio performance and forward looking macro-outlook. Given the higher flow-forward rates and elevated credit costs observ
Slide 7: Corporate actions
Corporate actions The Company took following corporate actions: 1. The Board of Directors today, has recommended, subject to shareholders’ approval, the following corporate actions: • sub-division of face value of shares from ₹ 2 to ₹ 1 fully paid equity shares, and • issue of 4 fully paid bonus equ
Slide 8: Lead financial indicators - Q4 FY25 (1/4)
Lead financial indicators - Q4 FY25 (1/4) Balance sheet and business metrics 1. AUM was up 26% to ₹ 416,661 crore as against ₹ 330,615 crore as of 31 March 2024. New lines of businesses contributed to 3% of AUM growth. 2. AUM grew by ₹ 18,618 crore in Q4 FY25. 3. New loans booked were at 10.70 MM in
Slide 9: Lead financial indicators - Q4 FY25 (2/4)
Lead financial indicators - Q4 FY25 (2/4) Operating efficiencies 10. Net interest income grew by 22% to ₹ 9,807 crore as against ₹ 8,013 crore in Q4 FY24. 11. Net total income grew by 23% to ₹ 11,917 crore as against ₹ 9,714 crore in Q4 FY24. 12. Opex to Net total income improved to 33.1% as against
Slide 10: Lead financial indicators - Q4 FY25 (3/4)
Lead financial indicators - Q4 FY25 (3/4) Profitability and capital 19. Consolidated pre-provisioning operating profit grew by 24% to ₹ 7,967 crore in Q4 FY25. 20. Consolidated profit before tax grew by 11% to ₹ 5,647 crore in Q4 FY25. Excluding the additional ECL provision of ₹ 359 crore on account
Slide 11: Lead financial indicators - Q4 FY25 (4/4)
Lead financial indicators - Q4 FY25 (4/4) Additional updates 27. In order to prepare the Company to achieve its long-term growth objectives, the Board of Directors, at its meeting held today have approved the following senior management portfolio changes: Appointment of 3 Deputy Chief Executive Offi
Slide 12: Q4 FY25 Executive summary - BHFL
Q4 FY25 Executive summary - BHFL A good quarter on AUM, Profit and asset quality. AUM grew by 26%, healthy asset quality with GNPA at 0.29% in line with previous quarter and NNPA at 0.11%. PAT grew by 54% resulting into steady ROA (annualised) of 2.4%. Operating efficiencies continued to improve wit
Slide 13: BHFL - Balance sheet and geography
Lead financial indicators - Q4 FY25 (1/2) BHFL - Balance sheet and geography 1. AUM was up 26% at ₹ 114,684 crore as against ₹ 91,370 crore as of 31 March 2024. 2. Home loans AUM grew by 22%, Loan against property grew by 28%, Lease rental discounting grew by 24%, Developer finance grew by 49%. 3. P
Slide 14: BHFL - Operating efficiencies
Lead financial indicators - Q4 FY25 (2/2) BHFL - Operating efficiencies 10. In Q4, Net interest income grew by 31% to ₹ 823 crore as against ₹ 629 crore in Q4 FY24. 11. In Q4, Net total income grew by 34% to ₹ 958 crore as against ₹ 717 crore in Q4 FY24. 12. In Q4, Opex to Net total income improved
Slide 15: Q4 FY25 Executive summary – BFinsec
Q4 FY25 Executive summary – BFinsec Good quarter on Margin Trade Facility (MTF) AUM, PBT, PAT and new customer addition. Delivered MTF AUM of ₹ 4,505 crore and added 71K customers to its franchise in Q4 FY25. Retail and HNI customer franchise stood at 979K as of 31 March 2025. MTF AUM Net total PBT
Slide 16: Bajaj Financial Securities Limited (BFinsec)
Lead financial indicators - Q4 FY25 (1/1) Bajaj Financial Securities Limited (BFinsec) 1. Added 71K customers to its franchise in Q4 FY25 against 43K in Q4 FY24. 2. Retail and HNI customer franchise stood at 979K as of 31 March 2025 as against 699K as of 31 March 2024. 3. Margin Trading Facility AUM
Slide 17: Consolidated financial performance - FY25
Consolidated financial performance - FY25 16
Slide 18: FY25 Executive summary
FY25 Executive summary FY25 was a mixed year. Good year on volume, AUM growth, customer acquisition, operating efficiencies and pre-provisioning profit. Elevated credit cost resulted in subdued profit growth. Delivered AUM growth of ₹ 86,046 crore, booked 43.42 MM new loans and added 18.18 MM new cu
Slide 19: Executive summary FY25 - Consolidated
Executive summary FY25 - Consolidated Balance sheet and business metrics 1. Delivered AUM growth of ₹ 86,064 crore in FY25. 2. AUM was up 26% at ₹ 416,661 crore as against ₹ 330,615 crore as of 31 March 2024. 3. New loans booked were up 20% to 43.42 MM in FY25 as against 36.20 MM in FY24. Customer f
Slide 20: Executive summary FY25 - Consolidated (credit cost, profitability)
Executive summary FY25 - Consolidated Credit cost 11. Loan losses and provisions for FY25 was ₹ 7,966 crore as against ₹ 4,631 crore in FY24. Excluding the additional ECL provision of ₹ 359 crore on account of model redevelopment, loan losses and provisions for FY25 was ₹ 7,607 crore. 12. Loan loss
Slide 21: Executive summary FY25 - BHFL and BFinsec
Executive summary FY25 - Consolidated Bajaj Housing Finance Limited (BHFL): 20. AUM was up 26% at ₹ 1,14,684 crore as against ₹ 91,370 crore as of 31 March 2024. 21. Net interest income for FY25 grew by 20% to ₹ 3,007 crore as against ₹ 2,510 crore in FY24. 22. Net total income for FY25 grew by 23%
Slide 22: Management assessment
BAJAJ FINANCE LIMITED Management assessment 21
Slide 23: Management assessment - FY25 update
Management assessment - FY25 update As management we, “Say what we do” and “Do what we say”. This is the report card of our FY25 management assessment. The Company delivered on its FY25 assessment on customer franchise, AUM growth, Opex to NTI, ROA, ROE, GNPA and NNPA. Credit cost was a miss. The Co
Slide 24: Management assessment - FY25 update: what we said vs did
Management assessment - FY25 update # Particulars What we said What we did Status 1 Customer franchise addition 12 - 14 MM 18.18 MM 2 AUM growth 26% - 28% 26% 3 Net Interest Margin (NIM) moderation 30 - 40 bps 49 bps 4 Opex to Net total income (NTI) improvement 20 - 40 bps 80 bps 5 Credit cost 1.75%
Slide 25: Management assessment for FY26
Management assessment for FY26 • Customer franchise – The Company remains confident of adding 14-16 MM customers in FY26. • AUM – The Company estimates AUM growth of 24-25%, aided by new lines of businesses launched in last 2-3 years. • Net Interest Margin (NIM) - The Company has moderated pricing i
Slide 26: Section 02: Long-term strategic roadmap
2.1 BFL 3.0 – A FINAI Company Section 02 BFL 3.0 – FINAI strategies Long-term 2.2 strategic roadmap 2.3 LRS outcomes FY29 25
Slide 27: BFL 3.0 – A FINAI Company
BFL 3.0 – A FINAI Company BFL 3.0 will be amongst the most sustainable and profitable companies in India and a pre-eminent choice for its 200 MM customer franchise for all their BFL 3.0 financial services needs. BFL aims to be the lowest cost operating model in financial services by accelerating bus
Slide 28: Strategies – BFL 3.0 – A FINAI Company
Strategies – BFL 3.0 – A FINAI Company Acquire Customers (1) Next 100 MM customers – Strategic partnerships, organic acquisition and Bajaj Prime Next Frontier of Growth (1) MSME – The next big growth engine Build Market Leadership – Amongst Top 3 (4) PL - 50K to 50 lacs Gold Loan MFI Two Wheeler FIN
Slide 29: Strategies – BFL 3.0 – A FINAI Company (AI)
Strategies – BFL 3.0 – A FINAI Company AI for Revenue (2) Conversational AI for sell – 3X conversion rate Conversational AI for Cross sell - 3X conversion rate AI to Reduce Cost (6) FTE productivity - 1.5X Field, 2X HO PSF productivity – 15% increase Reduce sales contact center Reduce DMS contact ce
Slide 30: LRS Outcomes - FY29
LRS Outcomes - FY29 S.No. Basic construct FY25 LRS FY28 LRS FY29 1 Customer Franchise (MM) 101.82 130-140 190-210 2 Cross-sell Franchise (MM) 64.45 80-90 115-125 3 India payments GMV 0.23% 1.25-1.5% 0.4-0.5% 4 Share of total credit 2.25% 3-3.25% 3.2-3.5% 5 Share of retail credit 2.82% 3.8-4% 3.8-4.2
Slide 31: Section 03: Bajaj Finance Limited overview
3.1 Bajaj group structure 3.2 What do we stand for 3.3 Key strategic differentiators Section 03 3.4 Our shareholder profile Bajaj Finance Limited 3.5 BFL Consolidated 18-years financial overview snapshot 3.6 BHFL 8-years financial snapshot 3.7 Product suite 3.8 Executive summary 30
Slide 32: Bajaj group structure
Bajaj group structure Bajaj Holdings & Investment Ltd (BHIL) (Listed) 2 3 1 51% 39.03% 34.21% Bajaj Auto Ltd Maharashtra Scooters Ltd. Bajaj Finserv Ltd (Listed) (Listed) (Listed) Auto business arm Unregistered CIC Financial services arm 74% 80.10% 100% 74% 51.39% 4 Bajaj Finance Ltd Bajaj Allianz L
Slide 33: What do we stand for
What do we stand for “A diversified non-bank with a deposit taking license” “Focused on mass and affluent segments, leveraging cross-sell to drive lifetime value” “Diversified financial services strategy with an optimal mix of risk and profit to deliver a resilient business model” “Business construc
Slide 34: BFL Consolidated long-term guidance on financial metrics
BFL Consolidated long-term guidance on financial metrics AUM growth Profit growth GNPA in corridor of in corridor of in corridor of 25%-27% 23%-24% 1.2%-1.4% NNPA Return on assets Return on equity in corridor of in corridor of in corridor of 0.4%-0.5% 4.3%-4.7% 19%-21% 33
Slide 35: Key strategic differentiators
Key strategic differentiators Part of the Bajaj group – one of the oldest & most A trusted brand with strong brand equity respected business houses Focus on mass and affluent segments Total customer franchise of 101.82 MM Strong focus on cross selling assets, payments, Highly data oriented. Deep dat
Slide 36: Our shareholder profile
Our shareholder profile Top 20 investors and their holdings As on 31 As on 31 As on 31 S.No Name of Shareholder Mar 24 Dec 24 Mar 25 1 BAJAJ FINSERV LTD 51.34% 51.34% 51.39% 2 MAHARASHTRA SCOOTERS LIMITED 3.07% 3.07% 3.05% FII & FPI 3 GOVERNMENT OF SINGAPORE 3.37% 3.01% 2.53% 20.50% 4 LIFE INSURANCE
Slide 37: 18-years financial snapshot - Consolidated
18-years financial snapshot - Consolidated ₹ in crore CAGR @ Financials snapshot FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (18 yrs.) Loans booked (MM) 1.0 0.6 0.9 1.6 2.2 2.8 3.4 4.9 6.8 10.1 15.3 23.5 27.4 16.9 24.7 29.6 36.2 43.4 25% Customer franchi
Slide 38: 8-years financial snapshot – BHFL
8-years financial snapshot – BHFL ₹ in crore CAGR Financials snapshot FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 (8 yrs.) AUM (₹ ‘000 Cr) 3.57 17.56 32.70 38.87 53.32 69.23 91.37 114.68 64% Total income 106 1,156 2,646 3,155 3,767 5,665 7,617 9,576 90% Interest expenses 47 685 1,616 1,966 2,155 3,211 4
Slide 39: Product suite
Product suite BAJAJ FINANCE LIMITED Consumer Partnerships SME Commercial Rural Deposits Payments & Services 1. Consumer Durable Loans 1. Unsecured Working 1. Loan against securities 1. Consumer Durable 1. Retail Term Issuance 1. Life Insurance Capital Loans Loans Deposits 1. PPI Distribution 2. Digi
Slide 40: Executive summary – Bajaj Finance
Executive summary – Bajaj Finance • Focused on Urban, Rural, SME, Commercial and Payments businesses • Strategic business unit organisation design supported by horizontal common utility functions to drive domain expertise, scalability and operating leverage • Leveraging AI, digital transformation, c
Slide 41: Executive summary – Bajaj Finance (SME, Commercial, Treasury)
Executive summary – Bajaj Finance • Offers unsecured working capital loans to SME and self-employed professionals • Secured offerings include enterprise loans against property SME Business • Focused on accelerating used car financing business • Focused on affluent SMEs with established financials &
Slide 42: Executive summary – Bajaj Housing Finance
Executive summary – Bajaj Housing Finance • Subsidiary of Bajaj Finance Limited • Independent organization design having all dedicated functions and units to drive domain expertise, scalability and operating leverage • Offers full range of mortgage products such as home loans, loan against property
Slide 43: Executive summary – Bajaj Housing Finance (LRD, Developer)
Executive summary – Bajaj Housing Finance • Offers LRD to high net-worth individuals and developers against commercial property leased to corporate lessees • Offers construction finance for commercial properties to existing LRD customers Lease Rental • LRD transactions are backed by rentals through
Slide 44: Executive summary – Bajaj Financial Securities
Executive summary – Bajaj Financial Securities • A 100% subsidiary of Bajaj Finance Limited • Offers a wide range of capital market products - Broking, Depositary services, Margin Trade Financing, IPOs and Distribution of Mutual Funds, PMS, and AIF. Overview • Broking business caters to two differen
Slide 45: Section 04: Financial performance - Q4 FY25
4.1 Financial statement summary – Consolidated Financial statement summary – Section 04 4.2 Bajaj Finance Limited Financial performance— Financial statement summary – Q4 FY25 4.3 Bajaj Housing Finance Limited 4.4 Financial statement summary – Bajaj Financial Securities Limited 44
Slide 46: Financial summary – Consolidated
Financial summary – Consolidated ₹ in Crore Financials snapshot Q4 FY25 Q4 FY24 Q-o-Q FY25 FY24 Y-o-Y Assets under management 4,16,661 3,30,615 26% 4,16,661 3,30,615 26% Assets under finance 4,07,844 3,26,293 25% 4,07,844 3,26,293 25% Interest income 16,359 13,230 24% 61,164 48,307 27% Interest expe
Slide 47: Financial summary – Bajaj Finance
Financial summary – Bajaj Finance ₹ in Crore Financials snapshot Q4 FY25 Q4 FY24 Q-o-Q FY25 FY24 Y-o-Y Assets under management 3,08,832 2,44,826 26% 3,08,832 2,44,826 26% Assets under finance 3,04,359 2,43,334 25% 3,04,359 2,43,334 25% Interest income 13,824 11,201 23% 51,549 40,783 26% Interest exp
Slide 48: Financial summary – Bajaj Housing Finance
Financial summary – Bajaj Housing Finance ₹ in Crore Financials snapshot Q4 FY25 Q4 FY24 Q-o-Q FY25 FY24 Y-o-Y Assets under management 1,14,684 91,370 26% 1,14,684 91,370 26% Assets under Finance 99,513 79,301 25% 99,513 79,301 25% Interest income 2,374 1,907 24% 8,986 7,202 25% Interest expenses 1,
Slide 49: Financial summary – Bajaj Financial Securities
Financial summary – Bajaj Financial Securities ₹ in Crore Financials snapshot Q4 FY25 Q4 FY24 Q-o-Q FY25 FY24 Y-o-Y Assets under finance (MTF book) 4,505 3,817 18% 4,505 3,817 18% Interest income 156 119 31% 609 318 92% Interest expenses 88 81 9% 360 206 75% Net interest income 68 38 79% 249 112 122
Slide 50: Section 05: Asset liability management
Conservative leverage standards – 5.1 Consolidated 5.2 Resilient business model – Consolidated Section 05 Behaviouralized ALM – Bajaj Finance 5.3 Limited Asset liability management Behaviouralized ALM – Bajaj Housing 5.4 Finance Limited 5.5 Disciplined ALM Management – Bajaj Finance Limited 5.6 Cons
Slide 51: Conservative leverage standards
Conservative leverage standards 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 6.6 6.3 6.3 28.3% 27.2% 25.0% 25.0% 24.7% 25.1% 24.8% 22.5% 21.7% 21.9% 5.4 21.3% 23.2% 21.7% 21.6% 21.5% 21.1% 5.1 20.7% 20.9% 20.8% 20.7% 5.1 4.9 4.9 20.3% 4.7 4.9 4.7 4.7 4.7 * 19.5% 19.7% 16.1% 16.3% 14.6% 5.7% 5.0%
Slide 52: Resilient business model – Consolidated
Resilient business model – Consolidated 46.5% 43.1% 42.5% 41.4% 41.8% 38.4% 37.8% 36.0% 35.3% 35.4% 34.6% 34.0% 33.3% 33.3% 33.2% 33.1% 33.1% 30.7% 35.1% 33.5% 28.9% 27.2% 27.3% 26.9% 26.4% 26.2% 9.47% 9.00% 8.24% 8.27% 8.39% 7.84% 7.74% 7.94% 7.97% 7.96% 7.99% 6.81% 7.04% 5.3% 5.1% 4.6% 4.5% 4.5% 4
Slide 53: Behaviouralized ALM as of Mar 2025 – BFL
Behaviouralized ALM as of 31 Mar 2025 – BFL ₹ in Crore Particulars, 1-7 D 8-14 D 15-30 D >1-2 M >2-3 M >3-6 M >6 M-1 Y >1-3 Y >3-5 Y >5 Y Total Cash & Investments 18,024 0 11,505 1,140 1,023 2,101 4,265 3,737 145 12,208 54,167 Advances 10,813 2,887 6,889 17,518 14,969 37,228 56,798 1,11,798 31,903 2
Slide 54: Behaviouralized ALM as of Mar 2025 – BHFL
Behaviouralized ALM as of 31 Mar 2025 – BHFL ₹ in Crore Particulars 1-7 D 8-14 D 15-30 D >1-2 M >2-3 M >3-6 M >6 M-1 Y >1-3 Y >3-5 Y >5 Y Total Cash & Investments 63 6 60 300 209 148 528 - 1,281 - 2,595 Advances 1,074 431 1,101 2,002 1,945 5,555 9,953 28,982 16,941 31,529 99,513 Other inflows 9 - 1,
Slide 55: Disciplined ALM Management - BFL
Disciplined ALM Management - BFL Cumulative gap upto 1 month Cumulative gap upto 12 month 220% 216% 119% 120% 118% 93% 85% 96% 75% 61% 80% 59% 81% 71% 72% 56% 51% 57% 60% 57% 50% 54% 31% 43% 32% 31% Mar'16 Mar'17 Mar'18 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Jun'24 Sept'24 Dec'24 Mar'25 54
Slide 56: Consolidated liability mix
Consolidated liability mix 3% 4% 3% 1% 2% 2% 4% 4% 4% 5% 5% 3% 10% 12% 13% 5% 9% 4% 7% 8% 13% 9% 9% 3% 14% 12% 3% 2% 2% 7% 6% 4% 1% 1% 1% 1% 1% 33% 38% 36% 34% 35% 40% 32% 34% 37% 37% 36% 35% 40% 45% 33% 30% 36% 31% 30% 29% 29% 28% 28% 54% 48% 34% 35% 25% 20% 19% 21% 21% 20% 20% 20% 20% 17% 12% 13%
Slide 57: Section 06: Customer franchise and distribution reach
6.1 Customer franchise 6.2 Product per customer Section 06 Customer franchise and 6.3 Geographic presence distribution reach 6.4 Strong distribution reach 56
Slide 58: Customer franchise
Customer franchise Q4 FY24 Q4 FY25 Q3 FY25 Total Franchise 83.64 MM 101.82 MM 97.12 MM 65.96 MM Credit segment filter 83.77 MM 80.29 MM 64.16 MM Overall Cross sell franchise 80.86 MM 77.73 MM Non delinquent 56.73 MM customers 72.60 MM 69.42 MM Cross sell franchise 50.75 MM 64.45 MM 61.56 MM (60.5%)*
Slide 59: Product Per Customer (PPC)
Product Per Customer (PPC) Product Per Customer (PPC) is a business metric used to determine average number of products or services (active or closed) a customer has availed over the lifetime with BFL. Product offerings are classified into 4 product segments: 1. Lending: All lending products of the
Slide 60: Geographic presence
Geographic presence 31 Mar 31 Mar 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar Geographic Presence 2022 2023 2024 2024 2024 2024 2025 Urban lending locations 1,368 1,392 1,569 1,585 1,596 1,599 1,582 Rural lending locations 2,136 2,341 2,576 2,617 2,649 2,660 2,681 Total Bajaj Finance presence 3,504 3,733 4,1
Slide 61: Strong distribution reach
Strong distribution reach Active distribution 31 Mar 2022 31 Mar 2023 31 Mar 2024 30 Jun 2024 30 Sep 2024 31 Dec 2024 31 Mar 2025 Consumer durable stores – Urban 30,600+ 33,950+ 42,000+ 44,200+ 45,300+ 47,000+ 49,400+ Consumer durable stores – Rural 29,800+ 37,000+ 49,050+ 53,050+ 56,650+ 59,350+ 62
Slide 62: Section 07: Business segment wise AUM
Business segment wise AUM - Section 07 7.1 Consolidated Business segment wise Business segment wise AUM – AUM 7.2 Consolidated Mortgages and BHFL 61
Slide 63: Business segment wise AUM - Consolidated
Business segment wise AUM - Consolidated ₹ in Crore Consolidated BFL BHFL Consolidated Composition Composition Growth % Change Particulars as of as of as of as of as of as of YoY YoY 31 Mar 2024 31 Mar 2025 31 Mar 2025 31 Mar 2025 31 Mar 2024 31 Mar 2025 Two & Three-wheeler Finance 19,742 17,319 - 1
Slide 64: Business segment wise AUM - Mortgages
Business segment wise AUM - Mortgages ₹ in Crore Composition Composition AUM as of AUM as of Growth Particulars as of as of 31 Mar 2024 31 Mar 2025 YoY 31 Mar 2024 31 Mar 2025 Consolidated mortgages Home Loans 54,095 65,536 21% 52.4% 50.6% Loan Against Property 20,875 26,884 29% 20.2% 20.8% Lease Re
Slide 65: Section 08: Update on credit quality
8.1 Provisioning Coverage - Consolidated 8.2 Stagewise ECL provisioning – Consolidated Section 08 8.3 Provisioning Coverage - BHFL Update on credit quality 8.4 Stagewise ECL provisioning - BHFL 8.5 Portfolio credit quality - Consolidated 64
Slide 66: Provisioning Coverage - Consolidated
Provisioning Coverage - Consolidated ₹ in Crore AUM PCR GNPA % NNPA % Particulars GNPA NNPA 31 Mar 25 (%) 31 Mar 24 31 Dec 24 31 Mar 25 31 Mar 24 31 Dec 24 31 Mar 25 Two & Three-wheeler Finance 18,069 910 491 46% 3.04% 4.58% 5.03% 1.61% 2.38% 2.78% Urban Sales Finance 29,597 174 34 80% 0.57% 0.80% 0
Slide 67: Stagewise ECL provisioning - Consolidated
Stagewise ECL provisioning - Consolidated ₹ in Crore Gross Assets Receivable ECL Provision PCR % Particulars Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Two & Three-wheeler Finance 15,875 1,284 910 170 161 418 1.07% 12.55% 45.98% Urban Sales Finance 29,052 371 174 173 175
Slide 68: Provisioning Coverage - BHFL
Provisioning Coverage - BHFL ₹ in Crore AUM PCR GNPA % NNPA % Particulars GNPA NNPA 31 Mar 25 (%) 31 Mar 24 31 Dec 24 31 Mar 25 31 Mar 24 31 Dec 24 31 Mar 25 Home Loans 64,447 206 82 59.97% 0.27% 0.33% 0.34% 0.10% 0.16% 0.13% Loan Against Property 12,262 57 27 52.31% 0.68% 0.76% 0.65% 0.25% 0.38% 0.
Slide 69: Stagewise ECL provisioning - BHFL
Stagewise ECL provisioning - BHFL ₹ in Crore Gross Assets Receivable ECL Provision PCR % Particulars Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Home Loans 60,988 224 206 106 48 124 0.2% 21.6% 60.0% Loan Against Property 8,724 84 57 60 19 30 0.7% 22.7% 52.3% Lease Rental
Slide 70: Portfolio credit quality – Consolidated
Portfolio credit quality – Consolidated Consumer Durable & Lifestyle Two & Three-Wheeler Stage 1st Bucket 2nd Bucket 3rd Bucket 4th Bucket 5th Bucket 1st Bucket 2nd Bucket 3rd Bucket 4th Bucket 5th Bucket 5+ Bucket Stage 1 98.65% 99.59% 99.51% 99.44% 99.38% 99.45% 99.46% 99.36% 99.40% 1 86.00% 93.28
Slide 71: Portfolio credit quality – Consolidated
Portfolio credit quality – Consolidated Business & Professional loans Rural B2B 1st Bucket 2nd Bucket 3rd Bucket 4th Bucket 5th Bucket Stage 1st Bucket 2nd Bucket 3rd Bucket 4th Bucket 5th Bucket Stage 1 99.01% 99.25% 99.25% 99.07% 98.77% 98.72% 98.63% 98.67% 98.55% 1 99.33% 99.64% 99.60% 99.62% 99.
Slide 72: Portfolio credit quality – Consolidated
Portfolio credit quality – Consolidated Car loans Gold loans 1st Bucket 2nd Bucket 3rd Bucket 4th Bucket 5th Bucket 1st Bucket 2nd Bucket 3rd Bucket 4th Bucket 5th Bucket Stage Stage 1 98.09% 99.40% 99.34% 99.27% 99.03% 98.79% 98.72% 98.64% 98.64% 1 97.93% 96.01% 97.80% 97.94% 96.14% 95.39% 97.85% 9
Slide 73: Section 09: Omnipresence metrics
Omnipresence metrics Section 09 9.1 Omnipresence summary 9.2 Customer franchise - overview Key financial metrics 72
Slide 74: Omnipresence metrics - Strong growth momentum across Geography and Digital metrics
Omnipresence metrics - Strong growth momentum across Geography and Digital metrics Particulars Unit Q4 FY24 Q3 FY25 Q4 FY25 YoY FY24 FY25 New locations added # 53 14 04 NA 412 118 Locations - Cumulative # 4,145 4,259 4,263 2.8% 4,145 4,263 Standalone Gold loan branches – Cumulative # 650 827 964 48%
Slide 75: Omnipresence metrics - Strong growth momentum (App + Web)
Omnipresence metrics - Strong growth momentum across Geography and Digital metrics Particulars Unit Q4 FY24 Q3 FY25 Q4 FY25 YoY FY24 FY25 App + Web business metrics EMI cards acquired # in MM - 0.25 0.25 NA 0.51 0.91 Personal loan disbursed In ₹ Cr 4,639 4,921 4,798 3.4% 18.4K 20.0K Gold loan origin
Slide 76: Customer franchise - Key financial metrics
Customer franchise - Key financial metrics Particulars @ Unit FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 YoY New loans booked In MM 15.3 23.5 27.4 16.9 24.7 29.6 36.2 43.4 20% New customer addition In MM 6.1 8.3 8.1 6.0 9.0 11.6 14.5 18.2 26% Existing customer mix % 60.3% 64.8% 70.4% 64.6% 63.5% 60.9%
Slide 77: Section 10: Environment, Social and Governance (ESG)
Section 10 10.1 Focus areas Environment, Social and Key ESG initiatives and highlights Governance (ESG) 10.2 76
Slide 78: Focus areas
Focus areas Our Responsible and Sustainable Business Conduct policy is aligned with NGRBCs and our business model. To drive ESG objectives and maximize impact, we are directing our efforts towards these priorities. Governance Financial Inclusion Preserving & Protecting Empowering Society Environment
Slide 79: Key ESG initiatives and highlights
Key ESG initiatives and highlights Environment Social Governance • Implementation of Group • In last six years, we have added ~2.6 • Board approved ‘ESG committee’ Environmental, Health & Safety crore new to credit customers Policy to promote environment • Board approved ‘Code of Ethics and friendly
Slide 80: Disclaimer
Disclaimer This presentation has been prepared by and is the sole responsibility of Bajaj Finance Limited (together with its subsidiaries, referred to as the “Company” or “Bajaj Finance”. By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation doe
Slide 81: Glossary
Glossary Abbreviation Expansion Abbreviation Expansion ALM Asset liability management LRD Lease rental discounting AMO After market order MF Mutual funds AR Augmented reality MFI Microfinance ASSC Authorised sales & support centre MSME Micro, Small & Medium Enterprises AUM Assets under management MT