Bajaj Finserv Limited · NSE:BAJAJFINSV
Bajaj Finserv — Q1 FY2026 Earnings Presentation
108 slides from Bajaj Finserv's earnings presentation, Jul 25, 2025
Slide 1: Cover letter to stock exchanges
25 July 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: Investor Presentation – Q1 FY2026
BAJAJ FINSERV LIMITED Investor Presentation – Q1 FY2026* *Q1 of year ending 31 March 2026 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 1 GAAP basis
Slide 3: Index
01. PERFORMANCE SUMMARY Q1 FY2026 02. BAJAJ FINSERV LIMITED – GROUP STRUCTURE AND STRATEGY 03. BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED (BAGIC) 04. BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED (BALIC) 05. EMERGING BUSINESSES INDEX a. b. BAJAJ FINSERV HEALTH LIMITED BAJAJ FINSERV DIRECT LIMITE
Slide 4: Performance Summary
PERFORMANCE SUMMARY Update for the quarter 3
Slide 5: Bajaj Finserv – Performance summary Q1 FY2026
Bajaj Finserv – Performance summary Q1 FY2026 All Figures in ₹ Crore For the Quarter For the Period Particulars Q1 FY2026 Q1 FY2025 Growth FY2025 Total Revenue 35,451 31,480 13% 133,822 (Consolidated) Profit after tax (PAT) * 2,789 2,138 30% 8,872 (Consolidated) Net worth 8,996 7,290 23% 8,372 (Stan
Slide 6: Performance summary Q1 FY2026 [1/5]
Bajaj Finserv – Performance summary Q1 FY2026 [1/5] All Figures in ₹ Crore General Insurance Life Insurance NBFC (Consolidated) Housing Finance Gross Written Premium RWRP AUM Growth 5,202 1,255 441,450 120,420 9% Y-O-Y^ (Excl. 1/n 15%) (3%) Y-o-Y 25% Y-o-Y 24% Y-o-Y Combined Ratio Gross Written Prem
Slide 7: Performance summary Q1 FY2026 [2/5]
Bajaj Finserv – Performance summary Q1 FY2026 [2/5] All Figures in ₹ Crore Marketplace and Tech Healthtech and TPA Stock Broking Asset Management Services Services Revenue from Operations Revenue from Operations Revenue from Operations Revenue from Operations 121 81 243 14.8 19% Y-o-Y (36%) Y-o-Y 17
Slide 8: Performance summary Q1 FY2026 [3/5]
Bajaj Finserv – Performance summary Q1 FY2026 [3/5] • 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 subsidiaries awaited from
Slide 9: Performance summary Q1 FY2026 [4/5]
Bajaj Finserv – Performance summary Q1 FY2026 [4/5] • 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 with the new product s
Slide 10: Performance summary Q1 FY2026 [5/5]
Bajaj Finserv – Performance summary Q1 FY2026 [5/5] • A good quarter on volume, AUM, Opex and Profitability • Booked 1.35 Crore new loans and added 0.47 Crore new customers during the quarter • AUM growth at a healthy 25% at ₹ 441,450 Crore at 30 June 2025 Bajaj • Achieved PAT growth of 22% during t
Slide 11: Bajaj Finserv Ltd.
FINSERV BAJAJ [3 FINSENY BAJAJ FINSERV LTD. 10
Slide 12: 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 13: Bajaj Finserv's Vision – 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 14: 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 15: Holistic growth pillars
Bajaj Finserv – Holistic growth pillars powering scalable and sustainable business Deep and wide Diversified Product distribution Mix Technology and Data Operational Efficiency Analytics 14
Slide 16: 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 17: Culture we drive – 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 18: 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 ₹ 100 invested in 2000 = ₹ 261,950 in 2025 • Profitable since first full year
Slide 19: Vast geographical and distribution reach
…… vast geographical and distribution reach • Over 13 Crore 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 INS
Slide 20: Strong solvency and capital adequacy
……strong solvency and capital adequacy All Figures in ₹ Crore 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 17,403 8,442 3,831 1,781 31,45
Slide 21: Bajaj Finserv Ltd.
FINSERV BAJAJ [3 FINSENY BAJAJ FINSERV LTD. 20
Slide 22: Consolidated Revenue components – Q1 FY2026
Consolidated Revenue components – Q1 FY2026 All Figures in ₹ Crore Consolidated Revenue components for Q1 FY2026 (Ind AS) Revenue Mix ( Q1 FY2026) Intercompany Bajaj Finserv- adjustments -2% 1% 1% Standalone (896) 35,451 Life Others1 454 Bajaj Finserv Insurance 350 General 7,453 Consolidated 21% Ins
Slide 23: Consolidated Profit components – Q1 FY2026
Consolidated Profit components – Q1 FY2026 (BFS share) Consolidated profit components for Q1 FY2026 (Ind AS) # All Figures in ₹ Crore Investment MTM Adjustments (Net of Tax) • Unrealized MTM Gain on BAGIC (FVTPL) – ₹ 82 Crore Intercompany • Unrealized MTM Gain on BALIC (FVTPL) – ₹ 28 Crore Bajaj Fin
Slide 24: Significant growth trajectory across diverse businesses
Significant growth trajectory across diverse and sustainable businesses All Figures in ₹ Crore Particulars Growth for 5 YR 10 YR FY 2015 FY 2020 FY 2024 FY 2025 the year CAGR CAGR Bajaj Finserv Limited (Consolidated) Net total Income 18,051 54,347 110,383 133,822 21% 20% 22% Profit after tax 1,690 3
Slide 25: Bajaj Allianz General Insurance Company Ltd.
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LTD. 24
Slide 26: 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 27: BAGIC – Key financial highlights Q1 FY2026
BAGIC – Key financial highlights Q1 FY2026 All Figures in ₹ Crore For the Quarter FY 2025 Particulars Q1 FY2026 Q1 FY2025 Growth Previous Financial Year Gross Written Premium1 5,202 4,761 9% 21,583 GWP excluding Crop & Govt. health1 5,107 4,664 10% 16,256 Combined Ratio (CoR)1 103.6% 103.7% 0.1% abs
Slide 28: BAGIC – Impact of change in Regulations
BAGIC – Impact of change in Regulations All Figures in ₹ Crore Q1 FY2026 FY2025 Without 1/n Particulars With 1/n impact Without 1/n impact With 1/n impact impact Gross Written Premium 5,202 5,453 21,583 22,134 Gross Written Premium Growth 9% 15% 5% 7% Gross Written Premium 5,107 5,358 16,256 16,807
Slide 29: BAGIC – Growth vs. Industry
BAGIC – Growth vs. Industry; sustained market share in most competitive market All Figures in ₹ Crore GDPI Trend GDPI excluding Crop & Govt. health Trend FY2025 Growth Q1 FY2026 Growth FY2025 Growth Q1 FY2026 Growth 750 ,000 BAGIC 5% 10% BAGIC 8% 10% 700 ,000 Private 650 ,000 7% 6% Private 8% 8% PSU
Slide 30: BAGIC – Profit (PBT) waterfall
BAGIC – Profit (PBT) waterfall Q1 FY2026 over Q1 FY2025 All Figures in ₹ Crore 133 47 202 887 -265 770 UW Profit UW loss ₹ 16 Crore ₹ 116 Crore Interest, Other Interest, Other Income and Income and Capital Gains Capital Gains ₹ 754 Crore ₹ 1,003 Crore PBT Higher Increase in Decrease in Increase in P
Slide 31: BAGIC – Lowest invested capital, Superior ROE & Investment Performance
BAGIC – Lowest invested capital, Superior ROE & Investment Performance All Figures in ₹ Crore BAGIC - Capital Invested - Networth AUM Mix ROE (Annualized) No Capital infusion Accumulated profit 98% of Net 2% 1% since FY2008 Worth as at 31 March 2025 Q1 FY26 21.4% 13,199 Q1 FY26 12,923 277 Q1 FY25 21
Slide 32: BAGIC – Diversified product mix
BAGIC – Diversified product mix to maintain competitive edge and performance over cycles Business Mix 9% 8% 12% 10% 0% 2% 14% 15% 0% 2% 14% 10% 31% 33% 17% 17% 19% 18% 15% 14% 5% 5% 5% 5% 29% 30% 31% 33% FY24 FY25 Q1 FY25 Q1 FY26 Motor Retail Health Group Health Property, Liability and Engineering A
Slide 33: BAGIC – Deep and wide distribution
BAGIC – Deep and wide distribution with penetration across all geographies and lower concentration risk on any channel Amongst the largest and most balanced distribution network in the industry Channel Mix 6% 8% 6% 6% 15% 15% 32% 29% 51% 55% 34% 39% 4% 2% 2% 2% 9% 10% 12% 8% 15% 13% 14% 15% FY24 FY2
Slide 34: BAGIC – Product portfolio: Motor
BAGIC – Product portfolio: Motor All Figures in ₹ Crore Type (Business Mix) FY2024 FY2025 Q1 FY2025 Q1 FY2026 Motor OD 46% 48% 54% 45% Motor TP 54% 52% 46% 55% Grand Total 100% 100% 100% 100% Product Mix – Motor Motor OD 63.6% 65.8% 69.4% 74.9% Motor TP 78.4% 71.1% 74.9% 52.6% Motor Total 71.8% 68.5
Slide 35: BAGIC – Product portfolio: Health, PA and Travel
BAGIC – Product portfolio: Health, PA and Travel All Figures in ₹ Crore Type (Business Mix) FY2024 FY2025 Q1 FY2025 Q1 FY2026 Retail 14% 14% 17% 20% Group (Employer-Employee & Others) 40% 41% 66% 70% Govt. Schemes 40% 41% 6% 0% Travel Insurance 3% 2% 5% 5% P.A 3% 3% 6% 5% Grand Total 100% 100% 100%
Slide 36: BAGIC – Product portfolio: Commercial Lines and Others
BAGIC – Product portfolio: Commercial Lines and Others All Figures in ₹ Crore Type (Business Mix) FY2024 FY2025 Q1 FY2025 Q1 FY2026 Fire 31% 36% 55% 55% Marine 4% 5% 6% 6% Engineering 5% 7% 7% 7% Liability 8% 10% 15% 16% Commercial Lines 48% 57% 82% 84% Crop Insurance 36% 29% 1% 4% Others# 15% 13% 1
Slide 37: BAGIC – Customer obsession
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 1.81 75 78 68 70 69 72 70 72 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 38: BAGIC – Superior Risk management
BAGIC – Superior Risk management ▪ 94.6% of the debt portfolio in AAA and sovereign assets and 85.8% of Equity in Nifty 50 stocks & Asset Quality 94.6% in BSE100 stocks ▪ Robust ALM position ▪ Superior underwriting capability leading to consistently low Combined Ratio ▪ Diversified exposure across b
Slide 39: BAGIC – Key Investments in technology (1/2)
BAGIC - Key Investments in technology with focus on all stakeholders (1/2) Digital Journey Metrics Digital Servicing @ 80.60% (55.17% through Digital Policy Issuance @ 96% Digital Payment @ 97.03% (Cash @0.24%) AI BOTs) • 48.02 Million BOT • RPA for Issuance: • 171 locations live with messages excha
Slide 40: BAGIC – Key Investments in technology (2/2)
BAGIC - Key Investments in technology with focus on all stakeholders (2/2) 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 th
Slide 41: Bajaj Allianz Life Insurance Company Ltd.
BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD. 40
Slide 42: 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 43: BALIC – Key financial highlights Q1 FY2026
BALIC – Key financial highlights Q1 FY2026 All Figures in ₹ Crore For the quarter For the Period Particulars Q1 FY2026 Q1 FY2025 Growth FY2025 Retail weighted received premium 1,255 1,294 (3%) 7,067 Retail Protection NB 110 72 53% 393 Group Protection NB 700 750 (7%) 2,616 Renewal Premium 3,162 2,47
Slide 44: BALIC RWRP – Growth vs. industry
BALIC RWRP – Growth vs. industry; steady growth with sustainable profitability All Figures in ₹ Crore RWRP Trend RWRP Trend FY 2025 Growth Q1 FY2026 Growth BALIC 12% BALIC (3%) Pvt Market 15% Pvt Market 8% 38,0 00 4,50 0 200 ,000 20,0 00 Overall Industry 10% Overall Industry 5% 4,0 00 180,0 00 18,00
Slide 45: BALIC – Diversified channel mix
BALIC – Diversified channel mix with strong focus on proprietary channels All Figures in ₹ Crore Whole Company 2 YR CAGR Agency 2 YR CAGR +12% -3% +0% -14% 7,067 10% -1% 2,547 2,549 6,326 1,294 1,255 545 468 FY24 FY 25 Q1 FY25 Q1 FY26 FY24 FY 25 Q1 FY25 Q1 FY26 Institutional Business BALIC Direct +1
Slide 46: BALIC – Balanced product mix
BALIC – Balanced product mix with innovative product suite to maintain competitive edge and profitability Product Mix* 39% 45% 47% 45% 6% 4% 5% 5% 5% 6% 9% 6% 24% 21% 19% 19% 27% 24% 23% 22% FY24 FY 25 Q1 FY25 Q1 FY26 Individual - Par Individual - Non Par Savings Individual - Non Par Protection Indi
Slide 47: BALIC – Continuous focus on increasing protection
BALIC – Continuous focus on increasing protection to drive growth and profitability All Figures in ₹ Crore Retail Protection (NBP) Group Protection (NBP) 393 2,616 2,315 63% 53% 13% (7%) 241 110 750 700 72 FY 24 FY25 Q1 FY25 Q1 FY26 FY 24 FY25 Q1 FY25 Q1 FY26 • Retail Protection grew by 53% to ₹ 110
Slide 48: BALIC – Capital and Assets under Management
BALIC – Capital and Assets under Management All Figures in ₹ Crore Net worth AUM AUM (Mix) - Non Unit Linked 4% 14% Corporate 28% Bonds No Capital Accumulated profit infusion since 89% of Net Worth as G-sec 131,052 FY08 on 30 June 2025 123,734 116,966 Equity 109,829 Others 11,139 10,899 10,803 11,01
Slide 49: BALIC – VNB & NBM update
BALIC –VNB & NBM update All Figures in ₹ Crore Q1 Q1 Change Rolling Rolling Change Particulars FY2026 FY2025 (%) FY2026 FY2025 (%) Annualized Premium (ANP)* 1,310 1,502 (13%) 7,749 7,506 3% Value of New Business (VNB)** 145 104 39% 1,193 1,071 11% New Business Margin (NBM) on ANP 11.1% 6.9% 4.2% abs
Slide 50: BALIC – VNB and NBM Walk
BALIC - VNB and NBM Walk All Figures in ₹ Crore 54 145 (13) NBM - 11.1% 104 NBM - 6.9% VNB - Q1FY25 Business mix and margins Business Volume VNB - Q1FY26 49 NBM - New Business Margin, VNB – Value of New Business
Slide 51: BALIC – Enhanced business quality and persistency
BALIC – Focus on enhanced business quality backed by enhanced customer segments For the Quarter Persistency 13th Month Persistency 25th Month * 85%* 74% * 75% 84% 83% * 72% 73% 73% 82% 82% FY23 FY24 FY 25 3M FY25 3M FY26 FY23 FY24 FY 25 3M FY25 3M FY26 Persistency 37th Month Persistency 49th Month P
Slide 52: 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 53: BALIC – Faster issuances, claim settlement and FTR
BALIC – Focusing on faster issuances, claim settlement and driving FTR 91.5% 53 per 10k policies 83.4% Digital Adoption Grievance Incidence Rate Digital Self Servicing 92.4% Electronic Payout 97.57% 6.56 lakhs 9.68 lakhs Retail Claim Settlement transactions Ratio Unique WhatsApp Users Customer App D
Slide 54: BALIC – Superior Risk Management
BALIC – Superior Risk Management ▪ 97.2% of the debt portfolio in AAA and sovereign assets and 83.7% in NSE100 stocks Asset Quality ▪ Robust ALM position ▪ Prudent assumptions built in product pricing Product Pricing ▪ Stress and multi - scenario testing of pricing ▪ Regular review of pricing based
Slide 55: Bajaj Finserv Health Ltd.
3 [3 FINSENY BAJAJ FINSERV HEALTH LTD. 54
Slide 56: Market Opportunity in Healthcare Ecosystem
Market Opportunity in Healthcare Ecosystem & Commercial Flows • Indian Healthcare Expenditure at ₹7.4 lakh crore, 3.73% of GDP and ₹5436 per capita • One of the largest spend categories but highly fragmented • Over ₹19,314 bn total addressable market present Internationally for products and outsourc
Slide 57: 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 58: Digital first Health Tech Company
Bajaj Finserv Health – Digital first Health Tech Company providing differentiated products & services on a digital platform Bajaj Finserv Health only player to offer integrated OPD, IPD and Wellness experience from same platform. With new capabilities and services to solve for challenges in the heal
Slide 59: Bajaj Finserv Health + Vidal Health Landscape
Bajaj Finserv Health + Vidal Health Landscape – Providing Continuum of Care Bajaj Finserv Health & Vidal Health# TPA Services Services to TPA Services TPA Services – Ayushman OPD Services International – Corporate – Retail Bharat Insurers • PUM of ₹ 3,645 • PUM of ₹1,395 • PUM of ₹517 • GMV of ₹ 190
Slide 60: Progress on Health Service Canvas
Bajaj Finserv Health - Progress on Health Service Canvas With Vidal Health, the company have created 18 services from Preventive to Tertiary Care, thus providing continuum of care through Network Ownership and Consumer Experience Preventive (5 Services) Primary (6 Services) Secondary (3 Services) Te
Slide 61: 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 62: Consumer Stack Metrics
Bajaj Finserv Health - Consumer Stack Metrics Healthcare Transactions Key Developments for Q1 FY 26 • Company has built strong network supporting business• 5,849,466 5,523,434 1,015,189 Hospitals – 15,576 1,036,076 629,618 Doctors – 131,100 606,719 Diagnostic – 3,914 Dental – 23,385 2,403,011 2,271,
Slide 63: Bajaj Finserv Health – Key financial highlights Q1 FY2026
Bajaj Finserv Health – Key financial highlights Q1 FY2026 All Figures in ₹ Crore Particulars Q1 FY 26 Q1 FY25 FY25 Total Income 243 207 892 PAT (43) (49) (166) Capital infused (as on 30 June 2025) 1,210 (Infused during the quarter) 84 Net Worth (as on 30 June 2025) 453 Consolidated Revenue & Opex 26
Slide 64: Bajaj Finserv Direct Ltd.
Bajaj Finserv Direct Ltd. Bajaj Markets & Bajaj Technology Services 63
Slide 65: 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 66: 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 67: Bajaj Markets – Diversified Marketplace
Bajaj Markets – Diversified Marketplace Open Architecture Supply- side Demand-side Marketplace Choice of manufacturers Digital Platform Traffic 235+ Mn yearly traffic 100+ Brands (Banks, FIs, Website & App | API-in-a-box with 36+ Mn App Installs Insurance Companies & AMCs) embedded rule engine Ident
Slide 68: Bajaj Markets – B2C BFSI providing Choice, Cost & Convenience
Bajaj Markets – B2C BFSI providing Choice, Cost & Convenience Vertical Partners Lending 55 Cards 14 Insurance 19 Investment 15 VAS 7 ONDC 1 Total Unique Partners 100 Category Partners Bank 13 NBFC 24 Fintech 23 HFC 8 Insurance & Broker 24 VAS/ONDC 8 Total 100 67
Slide 69: 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 70: Bajaj Finserv Direct – Key financial highlights Q1 FY2026
Bajaj Finserv Direct – Key financial highlights Q1 FY2026 All Figures in ₹ Crore Q1 FY2026 Q1 FY2025 FY2025 Total Income 92 135 598 PAT (50) (22) (50) Capital infused (as on 30 June 2025) 809 Net Worth (as on 30 June 2025) 429 Total Revenue Total Opex 157 171 159 161 141 164 156 135 144 92 Q1 FY24-2
Slide 71: Bajaj Finserv Asset Management Ltd.
Bajaj Finserv Asset Management Ltd. 70
Slide 72: Mutual fund industry growth opportunity
Capitalize on the Bajaj Finserv brand to penetrate a well-established MF industry through Differentiators Growth Outlook Market Opportunity Future Scalability Retail Investors AUM Growth AUM to GDP 140% (in Crore) (‘000 Crore) 2024 2047 Growth 5.33 6,836 2.7x 2.8x 79% Total AUM (‘Lakh Crore) 53.4 27
Slide 73: 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 74: Bajaj Finserv AMC – Key financial highlights Q1 FY2026
Bajaj Finserv AMC - Key financial highlights Q1 FY2026 All Figures in ₹ Crore Bajaj AMC Q1 FY2026 Q1 FY2025 FY2025 Total Income 14.8 7.1 39.8 PAT (52.1) (50.5) (219.8) Capital infused (as at 30 June 2025) 600 (Infused during the quarter) (50) Net Worth (as at 30 June 2025) 95 List of Mutual Funds la
Slide 75: Equity funds with differentiated strategies
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 76: Bajaj Finance Ltd.
FINSERV BAJAJ [3 FINSENY BAJAJ FINANCE LTD. 75
Slide 77: 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 4.3%-4.7% and ROE of 19%-21% in the long term Focused on continuous innovation to transform customer expe
Slide 78: BFL – Consolidated Key financial highlights Q1 FY2026
BFL – Consolidated Key financial highlights Q1 FY2026 All Figures in ₹ Crore For the quarter For the period Particulars Q1 FY2026 Q1 FY2025 Growth FY2025 AUM 441,450 354,192 25% 416,661 Customer Franchise 10.65 8.81 21% 10.18 Deposit Book 72,109 62,774 15% 71,403 Net total Income 12,610 10,418 21% 4
Slide 79: BFL – Key performance highlights: Q1 FY2026
BFL – Key performance highlights: Q1 FY2026 ▪ Number of new loans booked in Q1 F2026 was at 1.35 Crore as against 1.10 Crore in Q1 FY2025, a growth of 23% ▪ Net interest income grew by 22% to ₹ 10,227 crore as against ₹ 8,365 crore in Q1 FY2025 ▪ As of 30 June 2025, deposits book contribution to con
Slide 80: BFL – Cross selling and customer franchise
BFL – Strong focus on cross selling to existing customers and increase in customer franchise Q1 FY2025 Q1 FY2026 Q4 FY2025 8.81 Crore Total Franchise 10.65 Crore 10.18 Crore 7.33 Crore Credit segment filter 8.85 Crore 8.38 Crore 7.09 Crore Overall Cross sell franchise 8.54 Crore 8.09 Crore Non delin
Slide 81: Bajaj Housing Finance Ltd.
BAJAJ HOUSING FINANCE LTD. 80
Slide 82: 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 83: BHFL – Key financial highlights Q1 FY2026
BHFL – Key financial highlights Q1 FY2026 All Figures in ₹ Crore For the quarter For the Period Particulars Q4 FY2025 Q4 FY2024 Growth FY2025 AUM 120,420 97,071 24% 114,684 Net total Income 1,012 810 25% 3,597 Profit after tax 583 483 21% 2,163 Return on assets 2.3% 2.3% - 2.4% (Annualized) Return o
Slide 84: Environmental, Social and Governance – ESG
Environmental, Social and Governance – ESG (Towards a sustainable Future) 83
Slide 85: 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 86: ESG – Key initiatives during the year
ESG - Key initiatives during the year ESG is not just the right thing to do, it is what will shape a better tomorrow for all – Endeavor to be carbon neutral on scope 1 & 2 emissions by FY2032 Preserving & Financial Empowering Governance Protecting Inclusion Society Environment Responsible investment
Slide 87: CSR Update
CSR Update OUR COMMITMENT Through Bajaj Beyond, Bajaj Group companies have committed 5,000 crore over five years towards social impact programs, with the goal of impacting 2 crore individuals Child Youth Skilling Development Pune City INCLUSION FOR PERSONS GRANT MAKING EDUCATION HEALTH PROTECTION WI
Slide 88: Annexures
FINSERV BAJAJ [3 FINSERV Annexures 87
Slide 89: India and BFSI opportunity
India and BFSI opportunity Fastest growing; opportunity for every household 88
Slide 90: India is digitising rapidly
India is digitising rapidly Rising Income India Stack Powered the 1.4 Bn Aadhaar generated 18.4 Bn monthly Financial Inclusion transactions – June 2025 Investment in Technology Fintech Market to reach USD 422 ONDC facilitated more than to reach USD 500 billion in billion by 2029 200 million transact
Slide 91: Indian Life Insurance Market – Growth Opportunity
Indian Life Insurance Market – Growth Opportunity Insurance Penetration as a % of GDP Life Insurance Density (US$) 6264 7.1% 7.4% 6.8% 5.0% 3.7% 2285 2245 3.4% 1635 2.8% 2.1% 274 244 425 70 South Korea Taiwan Japan China Thailand Singapore Malaysia India South Korea Taiwan Japan China Thailand Singa
Slide 92: Indian Non-Life Insurance Market – Large Addressable Market
Indian Non- Life Insurance Market – Large Addressable Market Insurance Penetration as a % of GDP 6.0% 3.2% 2.1% 1.9% 1.8% 1.8% 1.4% 1.0% South Korea Taiwan Japan China Thailand Singapore Malaysia India Non Life Insurance Density (US$) 1968 1536 1022 693 234 140 165 25 South Korea Taiwan Japan China
Slide 93: Others
FINSERV BAJAJ [3 BAJAJ FINSENY Others 92
Slide 94: BAGIC – Product Suite
BAGIC – Product Suite Personal Commercial SME Rural Partnerships (Group / Motor Motor Property Rural & Agriculture Government) 1. 4W/2W Package Policy 1. Third Party and Own Damage 1. Fire & Allied Perils – Bharat 1. Parametric Index Based Health & Travel 2. Standalone Own Damage for Commercial Vehi
Slide 95: BALIC – Product Suite
BALIC – Product Suite Long Term Mortality (Life protection) Wealth Longevity Morbidity (Retirement (Health planning) protection) New Products 94
Slide 96: BFL and BHFL – Product Suite
BFL and BHFL – Product Suite BAJAJ FINANCE LIMITED Consumer SME Commercial Rural Deposits Payments Partnerships & 1. Loan against securities 1. Consumer Durable Services 1. Unsecured Working 1. Retail Term Issuance 1. Consumer Durable Capital Loans Loans 1. Life Insurance 2. IPO financing Deposits 1
Slide 97: BAGIC Key Financial Metrics vs. Industry – Outperformance
BAGIC Key Financial Metrics vs. Industry – Outperformance All Figures in ₹ Crore GWP Combined Ratio Cumulative PAT (5 Yr CAGR) (5 Yr. Avg.) (5 Yr Avg.) 11.0% 99.9% 7,400 Cr Industry 9.6% Industry 116.8% Industry 10,596 Cr 3rd largest general insurer grown Consistently maintaining prudent Superior Pr
Slide 98: BAGIC – Performance by lines of business: GDPI
BAGIC – Performance by lines of business: GDPI GDPI Growth Line of Business 12M FY2025 BAGIC 12M FY2025 Industry Q1 FY2026 BAGIC Q1 FY2026 Industry Commercial Lines** 8.5% 1.0% 17.6% 15.3% Motor OD 13.8% 8.1% (2.1%) 5.3% Motor TP 3.8% 7.8% 38.6% 11.2% Motor Total 8.4% 7.9% 16.8% 8.7% Retail Health 1
Slide 99: BAGIC – Performance by lines of business: Loss ratio
BAGIC – Performance by lines of business: Loss ratio Net Loss Ratio Line of Business 12M FY2025 12M FY2024 Q1 FY2026 Q1 FY2025 Fire 46.6% 47.4% 73.1% 82.8% Marine Cargo 70.2% 60.3% 63.6% 54.7% Motor OD 65.8% 63.6% 74.9% 69.4% Motor TP 71.1% 78.4% 52.6% 74.9% Motor Total 68.5% 71.8% 63.3% 72.3% Engin
Slide 100: BAGIC Loss Triangle: Whole Account – Ultimate Net Loss Cost
BAGIC Loss Triangle: Whole Account Excluding IMTPIP on Net Basis as at 31 March 2025 – Ultimate Net Loss Cost Re-estimate All Figures in ₹ Crore Accident Year Cohort 3/31/2015 and 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 before A
Slide 101: BAGIC Loss Triangle: Whole Account – Cumulative Payment
BAGIC Loss Triangle: Whole Account Excluding IMTPIP on Net Basis as at 31 March 2025 – Cumulative Payment All Figures in ₹ Crore Accident Year Cohort 3/31/2015 and 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 before A] Ultimate Net l
Slide 102: BAGIC Loss Triangle: Motor TP – Ultimate Net Loss Cost
BAGIC Loss Triangle: Motor TP Excluding IMTPIP on Net Basis as at 31 March 2025 – Ultimate Net Loss Cost Re-estimate All Figures in ₹ Crore Accident Year Cohort 3/31/2015 and 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 before A] Ult
Slide 103: BAGIC Loss Triangle: Motor TP – Cumulative Payment
BAGIC Loss Triangle: Motor TP Excluding IMTPIP on Net Basis as at 31 March 2025 – Cumulative Payment All Figures in ₹ Crore Accident Year Cohort 3/31/2015 and 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 before A] Ultimate Net loss C
Slide 104: BAGIC Loss Triangle: IMTPIP reserving
BAGIC Loss Triangle: IMTPIP reserving All Figures in ₹ Crore • The IMTPIP came to operation on 1st April 2007 exclusively for third party claims in respect of commercial vehicles. All insurers registered to carry on non-life insurance business including motor business were automatically required to
Slide 105: BALIC – Key Financial Metrics vs. Industry: Fastest growth
BALIC – Key Financial Metrics vs. Industry: Fastest growth All Figures in ₹ Crore GWP RWRP Solvency Margin (5 Yr CAGR*) (5 Yr CAGR*) (FY 25) 23% 30% 359% Industry 9% Industry 10% Industry 180%-200% Growth thrice the industry Growth thrice the industry Highest solvency ratio among the peers, with con
Slide 106: BALIC – Growth across key metrics
BALIC – Growth across key metrics All Figures in ₹ Crore New Business Renewals GWP 14,867 27,160 CAGR – 18% CAGR – 27% CAGR – 23% 12,293 23,043 11,494 11,549 10,738 19,461 9,136 8,724 16,127 6,313 6,991 12,025 5,712 FY21 FY22 FY23 FY24 FY 25 FY21 FY22 FY23 FY24 FY 25 FY21 FY22 FY23 FY24 FY 25 VNB an
Slide 107: Thank You
FINSERV BAJAJ Thank You 106
Slide 108: Disclaimer
Disclaimer This presentation has been prepared by Bajaj Finserv Limited (the “Company”) solely for your information and for your use. This presentation is for information purposes only and should not be deemed to constitute or form part of any offer or invitation or inducement to sell or issue any s