Bajaj Finserv Limited · NSE:BAJAJFINSV
Bajaj Finserv — Q4 FY2025 Earnings Presentation
102 slides from Bajaj Finserv's earnings presentation, Apr 29, 2025
Slide 1: Exchange filing cover letter
29 April 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: Bajaj Finserv Limited Investor Presentation – Q4 FY2025
BAJAJ FINSERV LIMITED Investor Presentation – Q4 FY2025* *Q4 of year ending 31 March 2025 Note: From Q1 FY2023 Bajaj Finserv Limited has started reporting its numbers in Investor Presentation in ₹ Crore. Till FY 2022, the same was in ₹ Million 1
Slide 3: Index
01. EXECUTIVE SUMMARY 02. BAJAJ FINSERV LIMITED 03. BAJAJ ALLIANZ GENERAL INSURANCE (BAGIC) 04. BAJAJ ALLIANZ LIFE INSURANCE (BALIC) INDEX 05. EMERGING BUSINESS a. BAJAJ FINSERV HEALTH LIMITED b. BAJAJ FINSERV DIRECT LIMITED (Marketplace and Tech) c. BAJAJ FINSERV ASSET MANAGEMENT COMPANY 06. BAJAJ
Slide 4: Executive Summary
EXECUTIVE SUMMARY Update for the quarter 3
Slide 5: Bajaj Finserv – Performance summary Q4 and FY2025
Bajaj Finserv – Performance summary Q4 and FY2025 All Figures in ₹ Crore For the Quarter For the Period Particulars Q4 FY2025 Q4 FY2024 Growth FY2025 FY2024 Growth Total Revenue 36,596 32,042 14% 1,33,822 1,10,383 21% (Consolidated) Profit after tax (PAT) * 2,417 2,119 14% 8,872 8,148 9% (Consolidat
Slide 6: Executive summary – Performance of businesses for Q4 FY2025 [1/2]
Executive summary – Performance of businesses for Q4 FY2025 [1/2] All Figures in ₹ Crore General Insurance Life Insurance NBFC (Consolidated) Housing Finance Gross Written Premium RWRP AUM Growth 4,326 2,328 416,661 114,684 (13%) Y-O-Y^ 0% Y-o-Y 26% Y-o-Y 26% Y-o-Y Assets under Management VNB Net To
Slide 7: Executive summary – Performance of businesses for Q4 FY2025 [2/2]
Executive summary – Performance of businesses for Q4 FY2025 [2/2] 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 107 129 218 12.3 18% Y-o-
Slide 8: Highlights for the quarter (1/3)
Highlights for the quarter (1/3) Overall Operating Environment • Slowdown in credit growth • Change in accounting for long term contracts in GI industry • Impact of New surrender regulations in LI industry • Significant Stock Market volatility BFS • Consolidated Revenue and PAT growth at 14%. • SPA
Slide 9: Highlights for the quarter (2/3)
Highlights for the quarter (2/3) BALIC • BALIC 2.0 initiated earlier this year with focus on ‘sustainable and profitable growth’ along with changes in product structures to comply with revised product regulations. Impact of the same is reflected in: • VNB growth of 14% despite flat RWRP growth for Q
Slide 10: Highlights for the quarter (3/3)
Highlights for the quarter (3/3) Bajaj Finance Limited • A good quarter on volume, AUM, Opex and credit cost. • PBT excluding one-time ECL provision for annual model re-development was up 18%. • Loan losses remained elevated in Q4. • GNPA & NNPA is amongst the lowest in the industry. • FINAI transfo
Slide 11: Bajaj Finserv Ltd.
[3 FINSERV BAJAJ BAJAJ FINSERV LTD. 10
Slide 12: Bajaj Group Structure
Bajaj Group Structure Bajaj Holdings & Investment Limited (Listed) *36.67%2 *41.54%1 51%3 Bajaj Auto Limited (Listed) Bajaj Finserv Limited (Listed) Maharashtra Scooters Limited (Listed) Auto Business Arm Financial Services Arm Unregistered CIC* 51.39%4 74% ^ 74% ^ 80.10% 100% 100% Bajaj Finserv Hea
Slide 13: Bajaj Finserv's Vision – A diversified financial services group
Bajaj Finserv’s Vision – A diversified financial services group with a pan-India presence Life cycle Family, Health & Investment/ needs of Asset acquisition Asset protection Income Wealth Retirement Individual & SME Protection management customers Loan (Personal, General Insurance, General, Health &
Slide 14: Role of Bajaj Finserv
Role of Bajaj Finserv Collaboration and Customer Experience, Business Risk One Finserv Talent Best Practice Investments, ESG ▪ Rigorous engagement ▪ Harmonization of risk ▪ Group Knowledge ▪ One Finserv – Group ▪ Defining Customer in Long Range Planning policies and Forums – Analytics, Talent mobili
Slide 15: Our Culture – Purpose enabled through Leadership DNA
Our Culture – Purpose enabled through Leadership DNA Purpose “A place where innovation, agility and ownership thrives, creating responsible leaders who build long term profitable businesses, to delight our customers” Mindsets Customer Talent Builder Growth Being Obsession Mindset Responsible Behavio
Slide 16: Our Reach
Our Reach BAJAJ HOUSING BAJAJ FINANCE FINANCE LIMITED 4,263 Locations 174 Locations (Urban: 1,582 | Rural: 2,681) 224,000+ POS 216 Branches (Active point of sale) BAJAJ ALLIANZ LIFE BAJAJ ALLIANZ GENERAL INSURANCE INSURANCE 597 Branches 221 Branches 161,000+ Individual Agents 200+ Corp. Agents and B
Slide 17: Bajaj Finserv Ltd.
[3 FINSERV BAJAJ BAJAJ FINSERV LTD. 16
Slide 18: Consolidated Revenue components – Q4 FY2025
Consolidated Revenue components – Q4 FY2025 All Figures in ₹ Crore Consolidated Revenue components for Q4 FY2025 (Ind AS) Revenue Mix (Q4 FY 2025) Intercompany Bajaj Finserv- adjustments -3% 2% Standalone (618) 1% 36,596 Life Others1 74 Bajaj Finserv Insurance 379 General 10,350 Consolidated Insuran
Slide 19: Consolidated Profit components – Q4 FY2025 (BFS share)
Consolidated Profit components – Q4 FY2025 (BFS share) Consolidated profit components for Q4 FY2025 (Ind AS) # All Figures in ₹ Crore Investment MTM Adjustments (Net of Tax) • Unrealized MTM Loss on BAGIC (FVTPL) – ₹ 9 Crore Intercompany • Unrealized MTM Loss on BALIC (FVTPL) – ₹ 20 Crore Bajaj Fins
Slide 20: Growth Trajectory Of the Group
Growth Trajectory Of the Group All Figures in ₹ Crore 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 7,590 54,347 1,10,383 1,33,822 21% 20% 33 Profit after tax 1,690 3,369 8,148 8,872 9% 21% 18% Net Worth 10,
Slide 21: Bajaj Allianz General Insurance Company Ltd.
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LTD. 20
Slide 22: 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 prudent underwriting. Emphasis on profitable growth. DIFFERENTIATORS ▪ Industry leading combined ratios
Slide 23: BAGIC – Key financial highlights: Q4 and FY2025
BAGIC – Key financial highlights: Q4 and FY2025 All Figures in ₹ Crore For the Quarter For the Year Particulars Q4 FY2025 Q4 FY2024 Growth FY2025 FY2024 Growth Gross Written Premium1 4,326 4,962 (13%) 21,583 20,630 5% GWP excluding Crop & Govt. 3,796 3,780 0% 16,256 15,068 8% health1 Combined Ratio
Slide 24: BAGIC – Impact of change in Regulations
BAGIC – Impact of change in Regulations All Figures in ₹ Crore Q4 FY2025 FY2025 Without 1/n Particulars With 1/n impact Without 1/n impact With 1/n impact impact Gross Written Premium 4,326 4,593 21,583 22,134 Gross Written Premium Growth (13%) (7%) 5% 7% Gross Written Premium 3,796 4,063 16,256 16,
Slide 25: BAGIC – Growth compared to Industry
BAGIC – Growth compared to Industry All Figures in ₹ Crore GDPI Trend GDPI excluding Crop & Govt. health Trend BAGIC Growth (13%) 5% BAGIC Growth 1% 8% Private Growth 0% 7% Private Growth 3% 8% PSU Growth 5% 6% PSU Growth 9% 8% Industry Growth 2% 6% Industry Growth 5% 8% BAGIC 6.7% 5.8% 7.4% 7.2% BA
Slide 26: BAGIC – Profit (PBT) waterfall FY2025 over FY2024
BAGIC – Profit (PBT) waterfall FY2025 over FY2024 All Figures in ₹ Crore UW loss UW loss ₹ 166 Crore ₹ 77 Crore Interest, Interest, Other Income Other Income and Capital and Capital Gains Gains ₹ 2,221 Crore ₹ 2,522 Crore Increase in Higher Decrease in Others & PBT PBT Increase interest and Realized
Slide 27: BAGIC – Capital, ROE & Investment Performance
BAGIC – Capital, ROE & Investment Performance All Figures in ₹ Crore BAGIC - Capital Invested - Networth AUM Mix ROE (Annualized) No Capital infusion Accumulated profit 98% of Net 1% 1% since FY2008 Worth as at 31 March 2025 FY25 16.0% 12,498 FY24 15.2% FY25 12,221 277 Q4 FY25 12.3% 38% 11,474 FY24
Slide 28: BAGIC – Balanced Product Mix
BAGIC – Balanced Product Mix BUSINESS MIX 11% 10% 9% 8% 0% 5% 12% 14% 15% 19% 14% 10% 17% 15% 17% 12% 17% 13% 8% 15% 14% 6% 5% 5% 41% 31% 29% 30% Q4 FY24 Q4 FY25 FY24 FY25 Motor Retail Health Group Health Property, Liability and Engineering Agri (Crop Insurance) Government Health Others ▪ Change in
Slide 29: BAGIC – Diversified Distribution Mix
BAGIC – Diversified Distribution Mix Amongst the largest and most balanced distribution network in the industry Channel Mix 2% 24% 36% 31% 67% 39% 3% 35% 45% 2% 3% 14% 10% 10% 2% 9% 19% 19% 16% 13% Q4 FY24 Q4 FY25 FY24 FY25 Individual Agents Corporate Agents - Banks Corporate Agents - Others Brokers
Slide 30: BAGIC – Product portfolio: Motor
BAGIC – Product portfolio: Motor All Figures in ₹ Crore Type (Business Mix) Q4 FY2024 Q4 FY2025 FY2024 FY2025 Motor OD 44% 43% 46% 48% Motor TP 56% 57% 54% 52% Grand Total 100% 100% 100% 100% Product mix & Loss ratios Motor OD 57.8% 63.1% 63.6% 65.8% Motor TP 74.9% 51.7% 78.4% 71.1% 6,340 5,848 3,26
Slide 31: BAGIC – Product portfolio: Health, PA and Travel
BAGIC – Product portfolio: Health, PA and Travel All Figures in ₹ Crore Type (Business Mix) Q4 FY2024 Q4 FY2025 FY2024 FY2025 Retail 24% 38% 14% 14% Group (Employer-Employee & Others) 50% 54% 40% 41% Govt. Schemes 19% 0% 40% 41% Travel Insurance 3% 4% 3% 2% P.A 4% 4% 3% 3% Grand Total 100% 100% 100%
Slide 32: BAGIC – Product portfolio: Commercial Lines and Others
BAGIC – Product portfolio: Commercial Lines and Others All Figures in ₹ Crore Type (Business Mix) Q4 FY2024 Q4 FY2025 FY2024 FY2025 Fire 26% 31% 31% 36% Marine 3% 8% 4% 5% Engineering 4% 7% 5% 7% Liability 5% 7% 8% 10% Commercial Lines 39% 53% 48% 57% Crop Insurance 44% 33% 36% 29% Others# 18% 14% 1
Slide 33: BAGIC – Key technology & Customer Initiatives in FY2025 (1/2)
BAGIC – Key technology & Customer Initiatives in FY2025 (1/2) Digital Journey Metrics Digital Servicing @ 81.8% (55% through AI BOTs) Digital Issuance @ 96.2% • RPA for Issuance: Enabled 39 processes, till 2024 2025 • 176 Million BOT messages exchanged 2024 2025 date booked 100 Cr premium through BO
Slide 34: BAGIC – Key technology & Customer Initiatives in FY2025 (2/2)
BAGIC – Key technology & Customer Initiatives in FY2025 (2/2) Existing Digital Capabilities Enhanced & Scaled-up Website Caringly Yours App* Our website is now available in 7 different languages for Our Customer facing app remains amongst the most used app our customers in Insurance Industry 29.8 Mn
Slide 35: BAGIC – Risk management
BAGIC – Risk management ▪ 96.3% of the debt portfolio in AAA and sovereign assets and 87.9% of Equity in Nifty 50 stocks & 95.8% in BSE100 stocks. Asset Quality ▪ Oversight by Board & Executive Investment Committee and Group level investment forum ▪ Robust ALM position ▪ Superior underwriting capabi
Slide 36: Bajaj Allianz Life Insurance Company Ltd.
BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD. 35
Slide 37: 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
Slide 38: BALIC – Key financial highlights: Q4 & FY2025
BALIC – Key financial highlights: Q4 & FY2025 All Figures in ₹ Crore For the quarter For the Period Particulars Q4 FY2025 Q4 FY2024 Growth FY2025 FY2024 Growth Retail weighted received premium 2,328 2,330 0% 7,067 6,326 12% Retail Protection NB 129 70 84% 393 241 63% Group Protection NB 648 678 (4%)
Slide 39: BALIC – Growth in Retail Weighted Received Premium
BALIC – Growth in Retail Weighted Received Premium All Figures in ₹ Crore RWRP Trend RWRP Trend 2,00,000 16,000 10,000 BALIC Growth 12% BALIC Growth 0% 60,000 1,80,000 9,000 Pvt Market Growth 15% 14,000 Pvt Market Growth 7% Overall Industry Overall Industry 1,60,000 10% Growth 3% 8,000 Growth 50,000
Slide 40: BALIC – Retail Weighted Received Premium by Channel
BALIC – Retail Weighted Received Premium by Channel All Figures in ₹ Crore Whole Company Agency 0% +12% 7,067 -17% 0% 2,547 2,549 6,326 2,330 2,328 853 705 Q4 FY24 Q4 FY25 FY 24 FY 25 Q4 FY24 Q4 FY25 FY 24 FY 25 Institutional Business BALIC Direct 3,598 -2% +23% 919 13% +19% 3,031 748 1,179 1,329 29
Slide 41: BALIC – Product mix
BALIC – Product mix Product Mix* 40% 40% 39% 45% 6% 6% 6% 3% 4% 5% 6% 6% 24% 24% 27% 21% 27% 27% 24% 21% Q4 FY24 Q4 FY25 12M FY24 12M FY25 Individual - Par Individual - Non Par Savings Individual - Non Par Protection Individual - Annuity Individual - Unit Linked * Based on RWRP – Retail Weighted Rec
Slide 42: BALIC – Diversified distribution mix
BALIC – Diversified distribution mix Institutional Business - Building sustainable business through strong integration with partners Commercial and Other Banks Others Agency BALIC Direct Focus on profitability and driving higher traditional Mix Analytics backed, focused verticals for upsell and cros
Slide 43: BALIC – Protection business
BALIC – Protection business All Figures in ₹ Crore Retail Protection (NBP) Group Protection (NBP) 63% 13% 2,616 393 2,315 241 84% (4%) 129 678 648 70 Q4 FY24 Q4 FY25 FY24 FY25 Q4 FY24 Q4 FY25 FY24 FY25 • Retail Protection grew by 63% to ₹ 393 Crore in FY2025 vs ₹ 241 Crore in FY2024. For FY24 it sto
Slide 44: BALIC – Number of policies
BALIC – Number of policies All Figures in ₹ Lakhs In Force policies (Retail) Retail NB NOPs +8% +4% 38 5 Yr CAGR – 20% 8 35 7 32 30 30 29 6 5 4 3 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 • In Force policies, grew at Flat rate of 2% till 2022. Since 2023, it has increas
Slide 45: 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 FY08 on 31 March 2025 1,23,734 Equity 1,09,829 Others 11,139 10,899 76,473 54% 66,086 AUM (Mi
Slide 46: BALIC – VNB & NBM update
BALIC –VNB & NBM update All Figures in ₹ Crore Q4 Q4 Change Change Particulars FY2025 FY2024 (%) FY2025 FY2024 (%) Annualized Premium (ANP)* 2,486 2,654 (6%) 7,941 7,274 9% Value of New Business (VNB)** 549 480 14% 1,152 1,061 9% New Business Margin (NBM) on ANP 22.1% 18.1% 4.0% abs 14.5% 14.6% (0.1
Slide 47: BALIC – VNB and NBM Walk
BALIC - VNB and NBM Walk All Figures in ₹ Crore 1,400 1,200 8 99 (0.1%) 1,000 800 600 1,061 1,152 *+14.6% *+14.5% 400 200 - Net NBV- FY 24 Business Volume Business mix & margins Net NBV- FY 25 * NBM % 46
Slide 48: BALIC – MCEV analysis of movement
BALIC – MCEV analysis of movement All Figures in ₹ Crore 1,152 82 54 185 497 1,745 23,805 21,726 Embedded Value Operation Profit (EVOP): ₹ 2,761 Cr VIF: VIF: 10,249 8,905 RoEV : 12.71% (Annualized) NAV: NAV: 13,557 12,821 As at Unwinding VNB Operational Assumption Investment Capital As at 31st March
Slide 49: BALIC – Persistency
BALIC – Persistency For the Period Persistency 13th Month Persistency 25th Month 74% 74% 84% 83% 72% 73% 82% 82% FY22 FY23 FY 24 FY 25 FY22 FY23 FY 24 FY 25 Persistency 37th Month Persistency 49th Month Persistency 61st Month 67% 64% 64% 63% 52% 64% 64% 62% 52% 52% 61% 48% FY22 FY23 FY 24 FY 25 FY22
Slide 50: BALIC – Performance of Key Digital Assets & New Tech Initiatives
BALIC – Performance of Key Digital Assets & New Tech Initiatives 11.48 lakh transactions Annualized Premium completed with a 32% increase in generated- Rs 14,45 Cr across all business channels. sessions over FY24 15.38 Lakh Active Users with a 10% ~26K active employees, with increase over FY24 97.06
Slide 51: BALIC – Risk management
BALIC – Risk management ▪ Prudent assumptions built in product pricing. Product Pricing ▪ Stress and multi - scenario testing of pricing ▪ Regular review of pricing based on prevailing interest rates ▪ Prudent interest rate assumptions to ensure adequacy of statutory reserves ▪ Periodic product cond
Slide 52: Bajaj Finserv Health Ltd.
[3 FINSERV BAJAJ BAJAJ FINSERV HEALTH LTD. 51
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
Slide 54: Bajaj Finserv Health - Business Model
Bajaj Finserv Health - Business Model 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 healthcare ecosystem Network Stack Health data insights Payer Stack for Cognitive Doctors
Slide 55: Bajaj Finserv Health + Vidal Health Landscape
Bajaj Finserv Health + Vidal Health Landscape Bajaj Finserv Health & Vidal Health# TPA Services Services to TPA Services TPA Services – Ayushman OPD Services International – Corporate – Retail Bharat Insurers • PUM of ₹ • PUM of ₹1,395 • PUM of ₹517 • GMV of ₹ 1800 3,448 Crore • GMV of ₹ 150 Crore*
Slide 56: Business segments aligning towards Integrated Healthcare Platform
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 Bundled Selling Technolog
Slide 57: Bajaj Finserv Health - Consumer Stack Metrics
Bajaj Finserv Health - Consumer Stack Metrics Healthcare Transactions Key Developments 28,20,118 24,32,048 22,98,163 21,45,347 10,66,929 • Go live with a Standalone Health Insurer to 7,85,934 4,81,707 7,21,756 power their Consumer App and servicing OPD 5,41,048 5,41,926 5,31,623 6,06,719 products. T
Slide 58: Bajaj Finserv Health – Network Stack Metrics
Bajaj Finserv Health – Network Stack Metrics Doctor Network Dental Network 1,00,0 00 10,00 ,000 86,044 86,225 86,450 86,928 23,00 0 1,50,00 0 90,0 00 9,00 ,000 1,26,759 9,27,546 22,800 1,30,00 0 80 ,000 8,0 0,00 0 22,600 1,05,367 92,022 91,695 1,10 ,000 70 ,000 7,0 0,00 0 22,400 90,0 00 60,0 00 6,00
Slide 59: Bajaj Finserv Health – Financial summary
Bajaj Finserv Health – Financial summary All Figures in ₹ Crore Particulars Q4 FY 25 Q3 FY25 Q2 FY25 Q1 FY25 FY25 Total Income 218 234 233 207 892 PAT (47) (40) (32) (49) 168 Capital infused (as on 31 March 2025) 1,126 (Infused during the quarter) - Net Worth (as on 31 Mar 2025) 412 Consolidated Rev
Slide 60: Bajaj Finserv Direct Ltd.
Bajaj Finserv Direct Ltd. Bajaj Markets & Bajaj Technology Services 59
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 – BFSI Marketplace Differentiators
Bajaj Markets – BFSI Marketplace Differentiators Open Architecture Supply- side Demand-side Marketplace Choice of manufacturers Digital Platform Consumers 96+ Brands (Banks, FIs, Insurance Website & App | API-in-a-box with 235+ Mn yearly traffic Companies & AMCs) embedded rule engine 34.5+ Mn App In
Slide 63: Bajaj Markets – B2C BFSI Marketplace
Bajaj Markets – B2C BFSI Marketplace 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 62
Slide 64: Bajaj Markets – Key Updates
Bajaj Markets – Key Updates Loans Organic Visits T’sacting Customers (In Thousands) 5,493 (In Thousands) 836 817 856 4,770 4,563 4,307 4,253 4,249 545 476 419 Q3 FY Q4 FY Q1 FY Q2 FY Q3 FY Q4 FY Q3 FY 23- Q4 FY 23- Q1 FY 24- Q2 FY 24- Q3 FY 24- Q4 FY 24- 23-24 23-24 24-25 24-25 24-25 24-25 24 24 25
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 Ltd. – Financial Snapshot
Bajaj Finserv Direct Ltd. – Financial Snapshot All Figures in ₹ Crore Q4 FY2025 Q4 FY2024 FY2025 FY2024 Total Income 144 117 598 475 PAT (17) (18) (50) (73) Capital infused (as on 31 March 2025) 809 Net Worth (as on 31 March 2025) 478 Total Revenue Total Opex 200 157 171 159 161 150 135 164 156 100
Slide 67: Bajaj Finserv Asset Management Company Ltd.
Bajaj Finserv Asset Management Company Ltd. 66
Slide 68: Key Strategic Pillars for Bajaj AMC
Key Strategic Pillars for Bajaj AMC ▪ 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 space
Slide 69: Bajaj Finserv AMC – Key highlights
Bajaj Finserv AMC – Key highlights All Figures in ₹ Crore Bajaj AMC Q4 FY2025 Q4 FY2024 FY2025 FY2024 Total Income 12.3 5.2 39.8 14.0 PAT (64) (46) (220) (166) Capital infused (as at 31 March 2025) 550 (Infused during the quarter) (50) Net Worth (as at 31 Mar 2025) 99 List of Mutual Funds launched b
Slide 70: Bajaj Finserv AMC – 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 Fundamental + Sentiment Active Allocation (Beta) Advantage Indic
Slide 71: Bajaj Finance Ltd.
[3 FINSERV BAJAJ BAJAJ FINANCE LTD. 70
Slide 72: 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
Slide 73: BFL – Consolidated performance summary: Q4 and FY2025
BFL – Consolidated performance summary: Q4 and FY2025 All Figures in ₹ Crore For the quarter For the period Particulars Q4 FY2025 Q4 FY2024 Growth FY2025 FY2024 Growth AUM 4,16,661 3,30,615 26% 4,16,661 3,30,615 26% Customer Franchise 10.18 8.36 22% 10.18 8.36 22% Deposit Book 2,606 2,143 22% 71,403
Slide 74: BFL – Key performance highlights: Q4 and FY2025
BFL – Key performance highlights: Q4 and FY2025 ▪ Number of new loans booked in Q4 FY25 was at 1.07 Crore as against 0.8 Crore in Q4 FY24, a growth of 36% ▪ Net interest income grew by 22% to ₹ 9,807 crore as against ₹ 8,013 crore in Q4 FY24 ▪ As of 31 Mar 2025, deposits book contribution to consoli
Slide 75: BFL – Customer franchise
BFL – Customer franchise Q4 FY2024 Q4 FY2025 Q3 FY2025 8.36 Crore Total Franchise 10.18 Crore 9.71 Crore 6.60 Crore Credit segment filter 8.37 Crore 8.03 Crore 6.42 Crore Overall Cross sell franchise 8.08 Crore 7.77 Crore Non delinquent 5.67Crore customers 7.26 Crore 6.94 Crore Cross sell franchise
Slide 76: Bajaj Housing Finance Ltd.
BAJAJ HOUSING FINANCE LTD. 75
Slide 77: 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 differ
Slide 78: BHFL – Performance summary: Q4 and FY2025
BHFL – Performance summary: Q4 and FY2025 All Figures in ₹ Crore For the quarter For the Period Particulars Q4 FY2025 Q4 FY2024 Growth FY2025 FY2024 Growth AUM 1,14,684 91,370 26% 1,14,684 91,370 26% Net total Income 958 717 34% 3,597 2,925 23% Profit after tax 587 381 54% 2,163 1,731 25% Return on
Slide 79: Environmental, Social and Governance – ESG
Environmental, Social and Governance – ESG (Towards a sustainable Future) 78
Slide 80: 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 81: 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 Preserving & Financial Empowering Governance Protecting Inclusion Society Environment Responsible investment BFL new to credit customers - 6.7 MM Wind power generated – 84 MM
Slide 82: Annexures
[3 BAJAJ FINSERV Annexures 3 FINSERV BAJA) 81
Slide 83: India – A Growing Opportunity for Financial Services Business
India – A Growing Opportunity for Financial Services Business 82
Slide 84: India is digitising rapidly
India is digitising rapidly Rising Income India Stack Powered the 1.4 Bn Aadhaar generated 18.3 Bn monthly Financial Inclusion transactions – March 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 transac
Slide 85: Indian Life Insurance Market – Growth Opportunity
Indian Life Insurance Market – Growth Opportunity Insurance Penetration as a % of GDP Life Insurance Density (US$) 6264 7.1% 7.4% 6.8% 5.0% 3.7% 2285 2245 3.4% 1635 2.8% 2.1% 274 244 425 70 South Korea Taiwan Japan China Thailand Singapore Malaysia India South Korea Taiwan Japan China Thailand Singa
Slide 86: Indian Non-Life Insurance Market – Large Addressable Market
Indian Non- Life Insurance Market – Large Addressable Market Insurance Penetration as a % of GDP 6.0% 3.2% 2.1% 1.9% 1.8% 1.8% 1.4% 1.0% South Korea Taiwan Japan China Thailand Singapore Malaysia India Non Life Insurance Density (US$) 1968 1536 1022 693 234 140 165 25 South Korea Taiwan Japan China
Slide 87: Others
[3 BAJAJ FINSERV Others 3 FINSERV BAJA) 86
Slide 88: 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 89: BALIC – Product Suite
BALIC – Product Suite Long Term Mortality (Life protection) Wealth Longevity Morbidity (Retirement (Health planning) protection) 88
Slide 90: 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 91: BAGIC – Key financial metrics vs. industry: 5 year trend
BAGIC – Key financial metrics vs. industry: 5 year trend All Figures in ₹ Crore Particulars BAGIC Industry GWP Growth - 5 Year CAGR 13.2% 10.1% COR - 5 Year average 99.6% 117.5% Total Cost to NWP - 5 year average 27.7% 31.4% Cumulative UW Profit 5 years (27) (132,057) Cumulative PAT for 5 years 6,56
Slide 92: BAGIC – Performance by lines of business: GDPI
BAGIC – Performance by lines of business: GDPI GDPI Growth Line of Business Q4 FY2025 BAGIC Q4 FY2025 Industry 12M FY2025 BAGIC 12M FY2025 Industry Commercial Lines** 3.6% 0.7% 8.5% 1.0% Motor OD 10.9% 5.4% 13.8% 8.1% Motor TP 19.5% 7.7% 3.8% 7.8% Motor Total 15.7% 6.8% 8.4% 7.9% Retail Health 14.1%
Slide 93: BAGIC – Performance by lines of business: Loss ratio
BAGIC – Performance by lines of business: Loss ratio Net Loss Ratio Line of Business Q4 FY2025 Q4 FY2024 12M FY2025 12M FY2024 Fire (1.0%) 6.0% 46.6% 47.4% Marine Cargo 62.2% 88.7% 70.2% 60.3% Motor OD 63.1% 57.8% 65.8% 63.6% Motor TP 51.7% 74.9% 71.1% 78.4% Motor Total 57.3% 67.1% 68.5% 71.8% Engin
Slide 94: BALIC – Key financial metrics vs. industry: 5 year trend
BALIC – Key financial metrics vs. industry: 5 year trend All Figures in ₹ Crore Particulars BALIC Industry RWRP Growth - 5 Year CAGR 29% 10% GWP Growth - 5 Year CAGR 21% 10% Solvency ratio 432% 200% AUM Growth – 5 Year CAGR 14% 14% VNB* - 5-year CAGR 47% 21% • Fastest Growing Private Life Insurance
Slide 95: 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 96: BAGIC Loss Triangle: Whole Account – Ultimate Net Loss Cost Re-estimate
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 97: 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 98: BAGIC Loss Triangle: Motor TP – Ultimate Net Loss Cost Re-estimate
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 99: 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 100: 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 101: Thank You
Thank You 100
Slide 102: Disclaimer
Disclaimer All Figures in ₹ Crore 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