Bajaj Finserv Limited · NSE:BAJAJFINSV
Bajaj Finserv — Non-Deal Roadshow (August 2025)
99 slides from Bajaj Finserv's roadshow presentation, Aug 1, 2025
Slide 1: Regulation 30 intimation letter to exchanges
1 August 2025 To To Corporate Relations Department. Corporate Listing Department. BSE Limited National Stock Exchange of India Ltd 1st Floor, New Trading Ring, Exchange Plaza, 5th Floor Rotunda Building, P J Tower, Plot No.C-1, G Block, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai 400 001 Bandra
Slide 2: International Investor Presentation – FY2025
BAJAJ FINSERV LIMITED International Investor Presentation – FY2025 INR to USD conversion rate of 87 used across the deck 1 Note: The insurance subsidiaries follow Ind-AS only for the purpose of consolidation with BFS and hence where standalone details given they are on statutory GAAP basis
Slide 3: Index
01. BAJAJ FINSERV LIMITED – Group Structure and Strategy BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED 02. (BAGIC) BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED 03. (BALIC) 04. EMERGING BUSINESSES INDEX a. BAJAJ FINSERV HEALTH LIMITED b. BAJAJ FINSERV DIRECT LIMITED (Marketplace and Tech) c. BAJAJ
Slide 4: Bajaj Group Structure
Bajaj Group Structure Bajaj Finserv Limited (Listed) 51.39%1 74%^ 74%^ 80.10%2 100% 100%3 Bajaj Finserv Health Bajaj Allianz General Bajaj Allianz Life Bajaj Finance Limited Bajaj Finserv Direct Limited (Including Bajaj Finserv Asset Insurance Company Insurance Company (Listed)* Limited Vidal Health
Slide 5: Bajaj Finserv's Vision – A diversified financial services group
Bajaj Finserv’s Vision – A diversified financial services group with a pan-India presence Financial Life Family, Health & Investment/ cycle needs of Individual, Asset acquisition Asset protection Income Wealth Retirement SME and Protection management corporate customers Loan (Personal, General Insur
Slide 6: Bajaj Finserv - Lifecycle Partner to every Indian
Bajaj Finserv - Lifecycle Partner to every Indian to achieve financial goals & CON IPS SH ERVICES L E NS U M E R S DI ER Diversified financing businesses helping TN DED An ecosystem that supports profitable R P AE A D Digital NG individuals meet their lifestyle needs, Utilities growth through partne
Slide 7: Bajaj Finserv - An ecosystem of financial services
Bajaj Finserv - An ecosystem of financial services “Actively engage in strategy, planning and performance monitoring of our businesses with the objective of delivering sustainable profitable growth, achieving meaningful market share with effective use of capital thereby seeking to deliver superior s
Slide 8: Holistic growth pillars powering scalable and sustainable business
Bajaj Finserv – Holistic growth pillars powering scalable and sustainable business Deep and wide Diversified Product distribution Mix Technology and Data Operational Efficiency Analytics 7
Slide 9: Bajaj Finserv - Core strategic principles
Bajaj Finserv - Core strategic principles Broadening offerings to customers Deep complementary partnerships Prospect Prospect and exploit & exploit new new initiatives business lines • Expanding product suite: over 750 products • Strategic tie-ups: Airtel, SFDC • Crop and Government health insurance
Slide 10: Culture we drive – Purpose enabled through Leadership DNA
Culture we drive – Purpose enabled through Leadership DNA Purpose “A place where innovation, agility and ownership thrives, creating responsible leaders who build long term businesses with sustainable growth/profit, to delight our customers” Founder’s Ethos: Customer Develop & Growth Being Obsession
Slide 11: What is achieved so far
What is achieved so far……. BAJAJ FINANCE (NBFC) BAGIC (P&C and Health) BALIC (Life insurance) • One of the largest wealth generator, value of • 3rd largest P&C and Health insurer • Fastest growing Life Insurance company in $1 invested in 2000 = $1,385 in 2025 • Profitable since first full year last
Slide 12: Vast geographical and distribution reach
…… vast geographical and distribution reach • Over 130 MM BAJAJ HOUSING BAJAJ FINANCE customer base FINANCE LIMITED • Over 4,000 locations 4,192 Locations 175 Locations (Urban: 1,544 | Rural: 2,648) • Over 550,000 238,800+ POS 217 Branches distributors (Active point of sale) BAJAJ ALLIANZ LIFE INSUR
Slide 13: Strong solvency and capital adequacy
……strong solvency and capital adequacy All Figures in USD MM Solvency BFL BALIC BAGIC BHFL Total Minimum capital adequacy/solvency margin 15% 150% 150% 15% Actual capital adequacy/solvency margin as on 31st Mar'2021 28% 666% 345% 21% Estimated excess capital available 2,000 970 440 205 3,616 Actual
Slide 14: Significant growth trajectory across diverse and sustainable businesses
…… significant growth trajectory across diverse and sustainable businesses All Figures in USD MM Growth for 5 YR 10 YR Particulars FY 2015 FY 2020 FY 2024 FY 2025 the year CAGR CAGR Bajaj Finserv Limited (Consolidated) Net total Income 2,075 6,247 12,688 15,382 21% 20% 22% Profit after tax 194 387 9
Slide 15: Superior returns to Shareholders – BFS vs Nifty
…… superior returns to Shareholders’ – BFS V/s Nifty 50 Bajaj Finserv and Nifty 50 Change in the Share Price of BFS vs Nifty 50 index on base year • BFS included in Nifty 50 index from Apr 2018 • BFS included in S&P BSE Sensex from Jun 2020 5 Year CAGR# 10 Year CAGR# (FY 20 – FY 25) (FY 15 – FY 25)
Slide 16: Our aspiration – Long Range Strategy for 2024-29
Our aspiration – Long Range Strategy for 2024-29* Bajaj Finserv (Consolidated) Total Income Profit After Tax Customer Franchise (USD Thousand MM) (USD Thousand MM) (in MM) 2.3 34.5 200 0.9 90 12.6 2024 2029 2024 2029 2024 2029 CAGR – Compounded Annual Growth Rate *Presented in Dec 2024 15 Any statem
Slide 17: Bajaj Allianz General Insurance Company Ltd.
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LTD. 16
Slide 18: BAGIC – Key Strategic Differentiators
BAGIC – Key Strategic Differentiators STRATEGY Strive for market share growth in chosen business segments through a well-diversified product portfolio and multi- channel distribution supported by strong underwriting and prudent investments, seeking sustained profitability. DIFFERENTIATORS ▪ Large mu
Slide 19: BAGIC Key Financial Metrics vs. Industry – Outperformance
BAGIC Key Financial Metrics vs. Industry – Outperformance All Figures in USD MM GWP Combined Ratio Cumulative PAT (5 Yr CAGR) (5 Yr. Avg.) (5 Yr Avg.) 11.0% 99.9% 851 MM Industry 9.6% Industry 116.8% Industry (1,218 MM) 3rd largest general insurer grown Consistently maintaining prudent Superior Prof
Slide 20: BAGIC – Growth vs. Industry
BAGIC – Growth vs. Industry; sustained market share in most competitive market All Figures in USD MM GDPI Trend GDPI excluding Crop & Govt. health Trend Growth FY2022 FY2023 FY2024 FY2025 Growth FY2022 FY2023 FY2024 FY2025 BAGIC 9% 12% 33% 5% 9% 15% 20% 8% BAGIC Private 15% 21% 19% 7% 16% 22% 18% 8%
Slide 21: BAGIC – Diversified product mix
BAGIC – Diversified product mix to maintain competitive edge and performance over cycles GDPI Growth COR (4 YR CAGR) (5 YR Average) Business Mix Line of Business Top 5 Top 5 Property, Liability and Engineering Motor BAGIC BAGIC Health-Retail Health-Group Peers Peers Health-Government schemes Crop In
Slide 22: BAGIC – Deep and wide distribution
BAGIC – Deep and wide distribution with penetration across all geographies and lower concentration risk on any channel Channel Mix • No individual partner Individual agents Corporate Agents-Banks Corporate Agents -Others Brokers Direct Others contributes more than 5% to 3% 2% the overall GDPI 12% 8%
Slide 23: BAGIC – Lowest invested capital, Superior ROE & Investment Performance
BAGIC – Lowest invested capital, Superior ROE & Investment Performance All Figures in USD MM BAGIC - Capital Invested - Networth ROE (Annualized) AUM Mix No Capital infusion Excess capital @ 150% since FY08 solvency is USD 684 MM FY 25 16.0% 1% 1,437 1% FY 25 32 1,405 1,319 FY 24 15.2% FY 24 1,287 3
Slide 24: BAGIC – Setting the Industry Benchmark in Financial Excellence
BAGIC –Setting the Industry Benchmark in Financial Excellence GWP to Capital invested Expense to NWP 74.5 78.0 31% 31% 34% 30% 30% 49.8 55.9 45.6 28% 27% 28% 26% 28% 6.5 6.3 7.5 7.5 7.5 FY21 FY22 FY23 FY24 FY 25 FY21 FY22 FY23 FY24 FY25 Average of Top 5 peers BAGIC BAGIC Top 5 peers Highest GWP with
Slide 25: BAGIC – Customer obsession backed by “Caringly yours” theme
BAGIC – Customer obsession backed by “Caringly yours” theme BAGIC Net Promoter Score* Total Grievances# per 10,000 New Policies 2.13 2.11 2.17 2.11 75 78 69 72 72 1.81 68 70 70 63 65 1.05 0.92 0.71 0.73 0.77 FY 21 FY 22 FY 23 FY 24 FY 25 FY21 FY22 FY23 FY24 FY25 Health Motor BAGIC Average of Top 5 P
Slide 26: BAGIC - Key Investments in technology
BAGIC - Key Investments in technology with focus on all stakeholders Existing Digital Capabilities Enhanced & Scaled-up Website BAGICARE – CRM Caringly Yours App* Our website is now available in 7 different Omni channel experience via Customer 360 and Our Customer facing app remains amongst the lang
Slide 27: BAGIC – Superior Risk Management
BAGIC – Superior Risk Management ▪ 96.3% of the debt portfolio in AAA and sovereign assets and 87.9% of Equity in Nifty 50 stocks & Asset Quality 95.8% in BSE100 stocks ▪ Robust ALM position ▪ Superior underwriting capability leading to consistently low Combined Ratio consistently ▪ Diversified expo
Slide 28: BAGIC – Financial Outcomes
BAGIC – Financial Outcomes All Figures in USD MM YoY 5 yr 10 yr Particulars FY15 FY20 FY21 FY22 FY23 FY24 FY25 Growth CAGR CAGR Financial Snapshot Assets under Management 903 2,155 2,661 2,831 3,196 3,586 3,806 6% 12% 15% Net Worth 256 649 865 1,014 1,127 1,319 1,437 9% 17% 19% GWP 609 1,475 1,451 1
Slide 29: BAGIC – Long tail Motor TP Ultimate Net Loss Cost Re-estimate
BAGIC – Long tail Motor TP Excluding IMTPIP on Net Basis as at 31 March 2025 – Ultimate Net Loss Cost Re-estimate All Figures in USD MM Accident Year Cohort 31/03/2015 Particulars 31-Mar-16 31-Mar-17 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 and before A] Ultima
Slide 30: BAGIC – Long tail Motor TP Cumulative Payment
BAGIC – Long tail Motor TP Excluding IMTPIP on Net Basis as at 31 March 2025 – Cumulative Payment All Figures in USD MM Accident Year Cohort 31/03/2015 Particulars 31-Mar-16 31-Mar-17 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 and before A] Ultimate Net loss Cost
Slide 31: BAGIC aspiration – Long Range Strategy for next 5 years
BAGIC aspiration – Long Range Strategy for next 5 years* Maintain a Consistently balanced & maintain GWP growth Industry Best diversified highest NPS and higher than ROE of ~ 25%# Combined Ratio distribution & lowest Industry (CoR) product grievance ratio portfolio in Industry General Insurance is a
Slide 32: Bajaj Allianz Life Insurance Company Ltd.
BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD. 31
Slide 33: BALIC – Key Strategic Differentiators
BALIC – Key Strategic Differentiators STRATEGY Continued focus on sustainable and profitable growth by maintaining balanced product mix and investment in retail growth engines. Business construct is to maximize customer benefits while gaining market share in retail space, maintaining shareholder ret
Slide 34: BALIC – Key Financial Metrics vs. Industry: Fastest growth
BALIC – Key Financial Metrics vs. Industry: Fastest growth All Figures in USD MM GWP RWRP Solvency Margin (5 Yr CAGR*) (5 Yr CAGR*) (FY 25) 23% 30% 359% Industry 9% Industry 10% Industry 180%-200% Growth 2.6X the industry Growth 3X the industry Highest solvency ratio among the peers, with consistent
Slide 35: Transformation Journey – Robust delivery across key metrics
Transformation Journey – Robust delivery across key metrics KPIs FY 2017 Key Interventions FY 2025 • Investments across distribution channels Market share 3.5% 8.3% • Break to grow strategy in proprietary channels (RWRP) (among private players) • Deepening through identification of whitespaces (amon
Slide 36: BALIC – Growth across key metrics
BALIC – Growth across key metrics All Figures in USD MM New Business Renewals GWP 1,709 CAGR – 18% CAGR – 27% CAGR – 23% 3,122 1,413 1,321 2,649 1,234 1,327 1,050 2,237 1,003 1,854 726 804 657 1,382 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 VNB and NBM
Slide 37: BALIC RWRP – Growth vs. industry
BALIC RWRP – Growth vs. industry; steady growth with sustainable profitability All Figures in USD MM RWRP Trend Growth FY2022 FY2023 FY2024 FY2025 BALIC 49% 41% 21% 12% Pvt Market 22% 24% 8% 15% Overall Industry 16% 19% 5% 10% BALIC Market share* 3.3% 4.2% 5.0% 5.8% 5.9% 13,836 12,526 11,949 10,066
Slide 38: BALIC – Balanced product mix with innovative product suite
BALIC – Balanced product mix with innovative product suite to maintain competitive edge and profitability Product Mix • Strengthening PAR portfolio 41% 42% 32% 38% 45% 53% • ULIP growth aligned with 70% 62% Bullish market trend 37% 34% 51% 47% 31% 5% 8% 34% 25% 29% 25% 24% • BALIC has evolved its pr
Slide 39: BALIC – Continuous focus on increasing protection
BALIC – Continuous focus on increasing protection to drive growth and profitability All Figures in USD MM • Analytics based risk models, Retail Protection (NBP) 4 Yr CAGR – 28% 45 • PASA - Pre-underwriting of customers for touch free sales 28 • Widen reach to New segments 19 • Experience enabling da
Slide 40: BALIC: Embedded Value & ROEV
BALIC: Embedded Value & ROEV All Figures in USD MM Embedded Value Operating & Assumption change variance ( as % of VIF) RoEV 9.4% 11.9% 14.4% 14.5% 12.7% EV 1,786 1,983 2,136 2.497 2,736 437 646 862 1,024 1,178 2.1% 1.3% 1.5% 1,348 1,337 FY 21 FY 22 FY 23 FY 24 FY 25 1,274 1,474 1,558 -1.4% -1.5% FY
Slide 41: BALIC – Diversified channel mix with strong focus on proprietary channels
BALIC – Diversified channel mix with strong focus on proprietary channels All Figures in USD MM Company Institutional Business Agency BALIC Direct 812 414 106 293 293 727 348 244 86 599 299 214 171 57 424 126 39 284 127 30 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23 FY 24 FY 25 FY 21 FY 22 FY 23
Slide 42: BALIC – Diversified channel mix reducing concentration risk
BALIC – Diversified channel mix in line with industry reducing risk of concentration Channel Mix 23% 15% 21% 18% 17% 29% 24% 29% 33% 45% 42% 36% 61% 53% 50% 31% 37% 35% BALIC Top 5 peers BALIC Top 5 peers BALIC Top 5 peers FY 21 FY 23 FY 25 Banca Agency Others • Reducing dependency on single channel
Slide 43: BALIC – Enhanced business quality, persistency
BALIC – Enhanced business quality backed by enhanced customer segments Persistency - 13th Month Persistency - 25th Month 83% 74% 80% 71% 68% 51% FY 17 FY 21 FY 25 FY 17 FY 21 FY 25 Persistency - 37th Month Persistency - 49th Month Persistency - 61st Month 64% 61% 52% 63% 54% 42% 32% 44% 38% FY 17 FY
Slide 44: BALIC – Capital and Assets under Management
BALIC – Capital and Assets under Management All Figures in USD MM Net worth AUM AUM Mix - Non Unit Linked 4% No Capital infusion Excess capital is USD since FY08 768 MM 14,222 Corporate 14% Bonds 1,280 12,624 28% 1,234 1,257 1,240 1,253 G-sec 10,412 Equity 9,842 8,790 8,480 Others 54% 7,596 1,141 6,
Slide 45: BALIC – Having achieved scale, shifting gears to Profitable growth
BALIC – Having achieved scale, shifting gears to Profitable growth GWP to Capital invested ROEV 21.7 20.6 19.1 17.0 16.7 19.03 20.4% 16.07 22.43 17.8% 18.4% 13.32 17.2% 9.93 15.1% 19.1% 18.1% 8.76 8.63 6.51 8.03 7.42 15.6% 14.6% 13.7% FY21 FY22 FY23 FY24 FY 25 FY21 FY22 FY23 FY24 FY 25 Average of To
Slide 46: BALIC – Key tech initiatives
BALIC – Key tech initiatives with focus on efficiencies to deliver seamless, simplified & personalized experience 1App Customer Smart Marketing 360 Pitch Assist One stop shop for BALIC employees. Employees can access single view of Gen AI powered platform for generating A marketing repository that e
Slide 47: BALIC – Faster issuances, claim settlement and driving FTR
BALIC – Focusing on faster issuances, claim settlement and driving FTR 91.7% 47 per 10k policies 71.9% Digital Adoption Grievance Incidence Rate Digital Self Servicing 90.90% Electronic Payout 99.29% 11.5 lakhs transactions 15.38 lakhs Retail Claim Settlement Ratio Customer App Unique WhatsApp Users
Slide 48: BALIC – Superior Risk Management
BALIC – Superior Risk Management ▪ 97.5% of the debt portfolio in AAA and sovereign assets and 80.0% of Equity in Nifty 50 stocks & 88.4% in Asset Quality NSE100 stocks. ▪ Robust ALM position ▪ Prudent assumptions built in product pricing Product Pricing ▪ Stress and multi - scenario testing of pric
Slide 49: BALIC – Financial Outcomes
BALIC – Financial Outcomes All Figures in USD MM YoY 5 yr 10 yr Particulars FY15 FY20 FY21 FY22 FY23 FY24 FY25 Growth CAGR CAGR Financial Snapshot Assets under management (AUM) 5,006 6,447 8,480 9,842 10,412 12,624 14,222 13% 17% 11% New Business 311 595 726 1,050 1,234 1,321 1,413 7% 19% 16% Renewa
Slide 50: BALIC aspirations – Long Range Strategy (BALIC 2.0)
BALIC aspirations – Long Range Strategy for next 5 years (BALIC 2.0)* KPIs – BALIC v2 FY 2025 Aspiration Market share 8.3% Continue to gain Market share with (RWRP) (among private players) Topline growth of ~2X the industry Protection Contribution Contribution Business 6% of RWRP ~10% of RWRP Stable
Slide 51: Bajaj Finserv Health Ltd.
I3 FINSERV BAJAJ [3 FINSENY’ BAJAJ FINSERV HEALTH LTD. 50
Slide 52: Market Opportunity in Healthcare Ecosystem & Commercial Flows
Market Opportunity in Healthcare Ecosystem & Commercial Flows • Indian Healthcare Expenditure at $ 850 MM, 3.73% of GDP and ₹5436 per capita • One of the largest spend categories but highly fragmented • Over $222 bn total addressable market present Internationally for products and outsourced service
Slide 53: Bajaj Finserv Health – Key Strategic Differentiators
Bajaj Finserv Health – Key Strategic Differentiators STRATEGY Digital first Health Tech company providing differentiated products & services on a digital platform to all Payers like Insurers, Corporates, Government and more, through bilateral network arrangement with all Providers. Cover Wellness, O
Slide 54: Bajaj Finserv Health – Digital first Health Tech Company
Bajaj Finserv Health – Digital first Health Tech Company providing differentiated products & services on a digital platform Bajaj Finserv Health vision is to create an integrated OPD, IPD and Wellness experience platform in India to solve for challenges in healthcare ecosystem Network Stack Health d
Slide 55: Business segments aligning towards Integrated Healthcare Platform
Bajaj Finserv Health – Business segments aligning towards Integrated Healthcare Platform Align the operations into 6 vertical business segments, having differentiated products and distinct go to market strategy to deliver value to stakeholders Employer-Employee Services to Govt Retail Products to Va
Slide 56: Bajaj Finserv Health + Vidal Health Landscape
Bajaj Finserv Health + Vidal Health Landscape – Providing Continuum of Care With Vidal Health, the company have created 19 services from Preventive to Tertiary Care, thus providing continuum of care through Network Ownership and Consumer Experience Preventive Primary Secondary Tertiary (6 Services)
Slide 57: Consumer Stack Metrics; Customised Product Management
Bajaj Finserv Health - Consumer Stack Metrics; Customised Product Management Healthcare Transactions Key Developments 5,523,434 • Company has built strong network supporting 1,036,076 business 606,719 • Hospitals – 15,471 2,403,011 2,271,229 • Doctors – 96,898 2,048,255 456,378 756,927 694,822 3,184
Slide 58: Bajaj Finserv Health – Financial Outcomes
Bajaj Finserv Health – Financial Outcomes All Figures in USD MM Particulars Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Total Income 24 27 27 25 103 PAT (6) (4) (5) (5) (19) Capital infused (as on 31 Mar 2025) 129 (Infused during the year out of above) (50) Net Worth (as on 31 Mar 2025) 47 Consolidated Rev
Slide 59: Bajaj Finserv Direct Ltd.
Bajaj Finserv Direct Ltd. Bajaj Markets & Bajaj Technology Services 58
Slide 60: BFSD Market Opportunity – Marketplace and digital technology services
BFSD Market Opportunity - Why ‘Marketplace and digital technology services’ amongst BFSI manufacturers in the group? Earns from product sales and Product-out B2C owns inventory. Offers manufactured lending & payment products. Extremely large and valuable Caters to shareholders most efficiently by: O
Slide 61: Bajaj Markets – BFSI Marketplace
Bajaj Markets – BFSI Marketplace STRATEGY Bajaj Markets is a wide-choice (open architecture) diversified marketplace for Financial Services which attracts large number of new-to- Finserv consumers, creates awareness & discovery of the Finserv brand and cross-sells products by leveraging Technology &
Slide 62: Bajaj Markets – Diversified Marketplace
Bajaj Markets – Diversified Marketplace Open Architecture Supply- side Demand-side Marketplace Choice of manufacturers Digital Platform Consumers 235+ MM yearly traffic 96+ Brands (Banks, FIs, Insurance Website & App | API-in-a-box with 34.5+ MM App Installs Companies & AMCs) embedded rule engine Id
Slide 63: Bajaj Markets – B2C BFSI providing Choice, Cost & Convenience
Bajaj Markets – B2C BFSI providing Choice, Cost & Convenience Vertical Partners Lending 55 Cards 13 Insurance 19 Investment 12 VAS 6 Total Unique Partners 96 Category Partners Bank 13 NBFC 24 Fintech 22 HFC 8 Insurance & Broker 21 VAS/ONDC 8 Total 96 Offering wide choice of manufacturers with unique
Slide 64: Bajaj Markets – Balance mix of new to Finserv and cross sell customers
Bajaj Markets – Balance mix of new to Finserv and cross sell customers Loans Organic Visits* Transacting Customers (In Thousands) (In Thousands) 3,054 18,765 16,256 1,696 FY 24 FY 25 FY 24 FY 25 Partnerships Lending Volume 1 USD in MM 0 6 5 12 11 13 870 10 19 17 735 47 55 FY 24 FY 25 Loans Insurance
Slide 65: Bajaj Technology Services
Bajaj Technology Services STRATEGY Be a leading digital technology services provider from India in the financial services sector through deep domain expertise and execution capabilities. Build scale & focus on profitability. ▪ 8 Practices to address business needs of BFSI industry basis strong domai
Slide 66: Bajaj Finserv Direct – Financial Outcomes
Bajaj Finserv Direct – Financial Outcomes All Figures in USD MM Particulars FY 2023 FY 2024 FY 2025 Total Income 45 55 69 PAT (6.0) (8.3) (5.6) Capital infused (as on 31 Mar 2025) 93 Net Worth (as on 31 Mar 2025) 55 Total Revenue Total Opex 75 69 63 55 51 45 FY 23 FY 24 FY 25 Bajaj Markets ▪ Bajaj M
Slide 67: Bajaj Finserv Asset Management Ltd.
Bajaj Finserv Asset Management Ltd. 66
Slide 68: Capitalize on the Bajaj Finserv brand to penetrate the MF industry
Capitalize on the Bajaj Finserv brand to penetrate a well-established MF industry through Differentiators All Figures in USD MM Growth Outlook Market Opportunity Future Scalability Retail Investors AUM Growth AUM to GDP 140% (in MM) (USD ‘000 MM) 2024 2047 Growth 53.3 786 2.7x 2.8x 79% Total AUM (‘0
Slide 69: Bajaj Finserv AMC - Key Strategic Pillars
Bajaj Finserv AMC - Key Strategic Pillars ▪ Equity schemes to have clear and differentiated investment strategies to create long term wealth for the investors. Differentiated ▪ High Credit Quality investments in Fixed Income schemes to Products ensure safety and mitigate risk. ▪ Launch of Passive in
Slide 70: Equity funds with differentiated strategies: Investment with Intent
Bajaj Finserv AMC – Equity (+Equity oriented) funds with differentiated strategies: Investment with Intent Category Investment Strategy Style Flexi Cap Megatrends Growth Investing Large and Mid Moat Investing Quality Investing Balanced Advantage Fundamental + Sentiment Indicator Active Allocation (B
Slide 71: Bajaj Finserv AMC - Financial Outcomes
Bajaj Finserv AMC - Financial Outcomes All Figures in USD MM Bajaj AMC FY 2023 FY 2024 FY 2025 Total Income 0.4 1.6 4.6 PAT (4.5) (19.1) (25.3) Capital infused (as at 31 March 2025) 63 (Infused during the year) (29) Net Worth (as at 31 March 2025) 11 Details of AUM QoQ AUM Growth Category AUM FY 25
Slide 72: Bajaj Finance Ltd.
I3 FINSERV BAJAJ [3 FINSENY’ BAJAJ FINANCE LTD. 71
Slide 73: BFL – Key Strategic Differentiators
BFL – Key Strategic Differentiators STRATEGY Diversified financial services strategy seeking to optimize risk and profit, to deliver a sustainable business model and deliver a sustainable ROA of 4.6%-4.8% and ROE of 21%-23% in the long term. Focused on continuous innovation to transform customer exp
Slide 74: BFL – Strong focus on cross selling and customer franchise
BFL –Strong focus on cross selling to existing customers and increase in customer franchise Q4 FY2024 Q4 FY2025 Q3 FY2025 83.64 Total Franchise 101.82 97.12 65.96 Credit segment filter 83.77 80.29 64.16 Overall Cross sell franchise 80.86 77.73 Non delinquent 56.73 customers 72.60 69.42 Cross sell fr
Slide 75: BFL – Financial Outcomes
BFL – Financial Outcomes All Figures in USD MM YoY 5 yr 10 yr Particulars FY15 FY20 FY21 FY22 FY23 FY24 FY25 Growth CAGR CAGR Financial Snapshot Assets under management 3,724 16,914 17,580 22,696 28,434 38,002 47,892 26% 23% 29% Total Income 623 3,033 3,067 3,638 4,760 6,320 8,014 27% 21% 29% Intere
Slide 76: BFL aspiration – Long Range Strategy for next 5 years
BFL aspiration – Long Range Strategy for next 5 years (consol.)* All Figures in USD MM Basic construct FY25 LRS FY29 Customer Franchise (MM) 101.82 190-210 Cross-sell Franchise (MM) 64.45 115-125 Share of total credit 2.25% 3.2-3.5% Share of retail credit 2.82% 3.8-4.2% Location presence 4,263 5,200
Slide 77: 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 financial BFL 3.0 services needs. BFL aims to be the lowest cost operating model in financial services by accelerating bus
Slide 78: Bajaj Housing Finance Ltd.
BAJAJ HOUSING FINANCE LTD. 77
Slide 79: BHFL – Key Strategic Differentiators
BHFL – Key Strategic Differentiators STRATEGY Focus on building a low-risk balance sheet with medium ROE. Continued focus towards OPEX management through cost out, process efficiencies and digitalization initiatives. Continuous focus on data analytics to check eligibility and offers for different cu
Slide 80: BHFL – Financial Outcomes
BHFL – Financial Outcomes All Figures in USD MM Particulars FY20 FY21 FY22 FY23 FY24 FY25 YoY Growth 5 yr CAGR Financial Snapshot Assets under management 3,760 4,468 6,129 7,957 10,502 13,182 26% 29% Total Income 304 363 433 651 876 1,101 26% 29% Interest expenses 186 226 248 369 539 687 27% 30% Net
Slide 81: Performance Summary For The Quarter
Performance Summary For The Quarter 80
Slide 82: Bajaj Finserv – Performance summary Q1 FY2026
Bajaj Finserv – Performance summary Q1 FY2026 All Figures in USD MM For the For the Quarter Period Particulars Q1 FY2026 Q1 FY2025 Growth FY2025 Total Revenue 4,075 3,618 13% 15,382 (Consolidated) Profit after tax (PAT) * 321 246 30% 1,020 (Consolidated) Net worth 1,034 838 23% 962 (Standalone) Net
Slide 83: Performance summary Q1 FY2026 [1/5]
Bajaj Finserv – Performance summary Q1 FY2026 [1/5] All Figures in USD MM General Insurance Life Insurance NBFC (Consolidated) Housing Finance Gross Written Premium RWRP AUM Growth 598 144 50,741 13,841 9% Y-O-Y^ (Excl. 1/n 15%) (3%) Y-o-Y 25% Y-o-Y 24% Y-o-Y Combined Ratio Gross Written Premium Net
Slide 84: Performance summary Q1 FY2026 [2/5]
Bajaj Finserv – Performance summary Q1 FY2026 [2/5] All Figures in USD MM Marketplace and Tech Healthtech and TPA Stock Broking Asset Management Services Services Revenue from Operations Revenue from Operations Revenue from Operations Revenue from Operations 14 10 28 1.7 19% Y-o-Y (36%) Y-o-Y 17% Y-
Slide 85: Performance summary Q1 FY2026 [3/5]
Bajaj Finserv – Performance summary Q1 FY2026 [3/5] All Figures in USD MM • Consolidated Revenue growth of 13% with a PAT growth at 30% • Update on SPA with Allianz - Approvals for stake purchase received from the Competition Commission BFS of India and IRDAI. Name change approval for insurance subs
Slide 86: Performance summary Q1 FY2026 [4/5]
Bajaj Finserv – Performance summary Q1 FY2026 [4/5] All Figures in USD MM • BALIC 2.0 initiated in H2 of FY2025 with focus on ‘sustainable and profitable growth’ backed by changes in product structures and cost rationalization • Outcomes in Q1 as expected, topline growth muted as distributors align
Slide 87: Performance summary Q1 FY2026 [5/5]
Bajaj Finserv – Performance summary Q1 FY2026 [5/5] All Figures in USD MM • A good quarter on volume, AUM, Opex and Profitability • Booked 13.5 MM new loans and added 4.7 MM new customers during the quarter • AUM growth at a healthy 25% at $ 50,741 MM at 30 June 2025 Bajaj • Achieved PAT growth of 2
Slide 88: Environmental, Social and Governance – ESG
Environmental, Social and Governance – ESG (Towards a sustainable Future) 87
Slide 89: ESG – Our focus area
ESG – Our focus area The ambit of ESG is wide and evolving. It is our firm belief that to achieve our ESG objectives and have a greater impact, we need to be focused on identified areas rather than spreading wide. Accordingly, in our Responsible and Sustainable Business Conduct policy, we have ident
Slide 90: ESG - Key initiatives
ESG - Key initiatives ESG is not just the right thing to do, it is what will shape a better tomorrow for all BFL new to credit customers - 6.7 MM Responsible Investment BFL MFI branches – 418 covering 345k Insurance portfolios exceeded the Financial women customers Governance 80% target for responsi
Slide 91: CSR update
CSR update OUR COMMITMENT Through Bajaj Beyond, Bajaj Group companies have committed $ 575 MM over five years towards social impact programs, with the goal of impacting 20 MM individuals Child Youth Skilling Development Pune City INCLUSION FOR PERSONS GRANT MAKING EDUCATION HEALTH PROTECTION WITH DI
Slide 92: India and BFSI opportunity
India and BFSI opportunity Fastest growing; opportunity for every household 91
Slide 93: India: Macro – fastest growing economy
India: Macro India remains the fastest growing economy surpassing China in 2021 12 10 9.69 8.00 8.26 8.15 8 7.41 GDP growth in Percent 6.80 6.99 7.02 6.45 6.46 6.47 6 3.87 4 2 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E 2026E -2 -4 -6 -5.78 India China Advanced economies Emerging
Slide 94: Income Pyramids: Unlocking Demographic Potential
Income Pyramids: Unlocking Demographic Potential FY23: 315 MM FY27: 331 MM >145 Ultra HNI Experience centric 145 to 100 Super HNI offerings to increase relevance to this 100 to 72 HNI 15.5 24.5 segment 72 to 44 MM MM Upper super affluent In Rs. Lakh per annum (+58%) Life Goal Planning, 44 to 30 Lowe
Slide 95: India: Opportunity in Every Household
India: Opportunity in Every Household Per Capita GNI is rising, leading to higher disposable income 3000 2X Disposable Income in 7 Years 2,514 2500 Disposable Income (in USD) 2000 1500 1,278 1000 500 0 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Per Capita GNI is estimated to re
Slide 96: India: Behavioral Shift in Savings Pattern
India: Opportunity in Every Household Behavioral Shift in Savings Pattern Household (HH) Savings (Deposits) & Borrowings: Annual Flows as a % of GDP Gross household 25.8% 20.8% 23.0% 24.2% Savings Physical assets (real estate, gold etc.) continue to grow – Opportunity for 15.1% our gold loan, mortga
Slide 97: Indian Life Insurance Market – Growth Opportunity
Indian Life Insurance Market – Growth Opportunity India remains vastly under-insured, both in term of penetration and density Insurance Penetration as a % of GDP Life Insurance Density (US$) 6264 7.4% 7.1% 6.8% 5.0% 3.7% 3.4% 2.8% 2285 2245 2.1% 1635 425 244 274 70 Singapore Taiwan Japan South Korea
Slide 98: Indian Non-Life Insurance Market – Large Addressable Market
Indian Non- Life Insurance Market – Large Addressable Market Insurance Penetration as a % of GDP 6.0% 3.2% 2.1% 1.9% 1.8% 1.8% 1.4% 1.0% South Korea Taiwan Japan Thailand China Singapore Malaysia India Non Life Insurance Density (US$) 1968 1536 1022 693 140 234 165 25 South Korea Taiwan Japan Thaila
Slide 99: Thank You
Thank You 98