Paisalo Digital Ltd. · NSE:PAISALO
Paisalo Digital — Q3 FY2026 Earnings Presentation
58 slides from Paisalo Digital's earnings presentation, Feb 9, 2026
Slide 1: Revised Investor Presentation cover letter to exchanges
Date: 09.02.2026 To, To, The Manager The Asstt. Vice President Department of Corporate Relationship National Stock Exchange of India Limited, BSE Limited Exchange Plaza 25 P. J. Towers, Dalal Street Bandra Kurla Complex Bandra (East) Mumbai -400 001 Mumbai -400 051 Scrip Code: 532900 (Equity) Scrip
Slide 2: Investor Presentation Q3 FY 2026
INVESTOR PRESENTATION Q3 FY 2026 1 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 3: Safe Harbor
NSE: Paisalo BSE: Paisalo SAFE Bloomberg: Paisalo:in HARBOR This document contains certain forward – looking statements based on current expectations of Paisalo Digital Limited’s management. Actual Results may vary significantly from the forward - looking statements in this document due to various r
Slide 4: Index
INDEX 01 RESULT SNAPSHOT 02 ABOUT PAISALO 03 STRATEGIC ROADMAP 04 SHAREHOLDING PATTERN 05 FINANCIAL PERFORMANCE 06 ENVIRONMENT SOCIAL GOVERNANCE (ESG) 3 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 5: Result Snapshot
01 RESULT SNAPSHOT Q3 FY 2026 4 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 6: Highlights for the Quarter
Highlights for the Quarter Robust Growth Profitability & Asset Quality Highest ever AUM at Rs 55,082 mn (+16% YoY); disbursement for Net Interest Income was up 19% YoY at Rs 1,453 mn, driving the quarter came in at Rs 10,574 mn (+7% YoY). Q3FY26 PBT of Rs 888 mn and a record quarterly profit of Rs 6
Slide 7: Q3 FY 26 Performance Summary
AUM Portfolio Yield Borrowing Cost ₹55,082 Mn 16.9% 10.3% +16% YoY Disbursement -94 bps YoY NIM -92 bps YoY Total Income ₹10,574 Mn 6.6% -2 bps YoY ₹2,401 Mn +7% YoY +18% YoY Q3 FY 26 Performance Summary ROA Net Worth CAR Collection PAT 3.84% ₹17,404 Mn 38.3% Effeciency ₹663 Mn +18% YoY Tier 1 - 30.
Slide 8: Robust Financial & Operational Performance
Robust Financial & Operational Performance AUM (Rs Mn) Disbursement (Rs Mn) Customer Franchise (Mn) 14 55,082 13,090 13 54,494 52,328 52,302 11,025 10,574 11 9,789 47,488 9 7,581 8 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3 FY 25 Q4 FY 25 Q1FY26 Q2FY26 Q3FY26 Total Inco
Slide 9: Robust Financial & Operational Performance
Robust Financial & Operational Performance Yield, Spread, Cost of Borrowing (%) RoE & RoA (%) Collection Efficiency (%) 13.9% 13.0% 11.9% 12.6% 99.8% 17.85% 17.23% 11.7% 99.0% 98.8% 98.4% 98.8% 16.94% 17.00% 16.91% 11.26% 10.54% 10.70% 10.48% 10.34% 4.5% 3.9% 6.59% 6.40% 6.53% 6.52% 6.57% 3.7% 3.6%
Slide 10: About Paisalo
02 ABOUT PAISALO Q3 FY 2026 9 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 11: About Us
ABOUT US Bridging the Credit Gap: Connecting unbanked and underserved populations, including MSMEs, to the formal financial ecosystem. 33 22 Accessible & Tailored Loan Offerings: Designed to meet the unique Years of Legacy States and UTs needs of diverse borrower segments. Small Income Generation Lo
Slide 12: At a Glance
At a Glance Focused on Income Generation and MSME/SME loans Scale Distribution Granularity Asset Quality Liability Profitability AUM States & UTs Customer Franchise GNPA Total Borrowings Yield Rs. 55,082 Mn 22 ~14 Mn 0.83% Rs. 38,579 Mn 16.9% Branches Disbursement Secured Portfolio NNPA Capital Adeq
Slide 13: Proven through Cycles, Scaling with Stability
Proven through Cycles, Scaling with Stability Assets Under Management (Rs. Mn) Credit Rating States Touch Points A+/Stable 10 100+ Rs. 55,082 Mn AUM AA-/Stable 18 1,000+ and scaling with ~20% CAGR (FY20 - FY25) AA/Stable/A1+ 22 4,300+ First FCCB Issuance of USD 50 Mn BC* partnership with Raised Rs S
Slide 14: Q3 FY 2026
03 Q3 FY 2026 13 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 15: AI Remains Core to Paisalo Strategy
AI REMAINS CORE TO P AI SALO STRATEGY Transitioning to an AI-Led Franchise Customer Portfolio Underwriting Acquisition Management Building an Intelligent, efficient & Scalable Lending Engine Lead Generation • Proprietary + AA enabled data • AI models detect stress • AI-powered sourcing build borrowe
Slide 16: Scalable Phygital Acquisition Engine with AI at the Core
Building a Scalable Phygital Acquisition Engine with AI at the Core AI Based Lead Generation Customer App (Upcoming) (Upcoming) Distribution Partners Branch Business Correspondents Phygital Sourcing Website AI Calling Mobile Application AI That Finds the Right Borrower, From Days to Minutes – AI Mak
Slide 17: From Digitisation to AI-Led Field Intelligence
From Digitisation to AI-Led Field Intelligence Scaling Growth Through End-to-End AI Integration in Customer Sourcing and Onboarding BC Application with AI Integration (Upcoming) Branch Application with AI Integration (Upcoming) 16 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 18: Credit Underwriting
Credit Underwriting Disciplined Credit Underwriting powered by Data and AI Machine generates multiple data features from an applicant’s bureau record and bank statement GST BUREAU BANKING Turnover and History of high-cost transaction intensity debt/credit card usage The system generates a unified cu
Slide 19: Portfolio Management
Portfolio Management Driving Scalability through Integrated Technology Solutions Tech Infra Integrated Services Data Analytics GenAI based Migration to MeitY: Seamless API Integrations: AutoML pipelines: Calling Planning in progress for migration to Real-time connectivity with thirdparty End-to-end
Slide 20: Paisalo's Three-Year Strategic Roadmap
PAISALO’s Three-Year Strategic Roadmap Last-Mile Scale Broadening Expand Optimizing Cost Product Suite Geographically of Capital Scaling of MSME & Accelerating Structural Transitioning from diversification of small income presence in existing High Touch – High balance-sheet generation loans states a
Slide 21: Our Core Pillars
Our Core Pillars 02 04 Engage and transact Structural diversification without friction to of balance sheet deliver a sustainable, leverage to reduce cost multi-channel of capital, and distribution model with deepening partnerships 4,872 touchpoints and with institutions. reach in 22 states/UTs. High
Slide 22: Disruption
3.1 DISRUPTION Revolutionizing and Disrupting Credit Q3 FY 2026 21 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 23: Small Income Generation Loans: The Opportunity
Small Income Generation Loans: The Opportunity THE PROBLEM India Target Market Population Low availability of small loans from Income Tax Population Financial Institutions. Pan Holders (Having PAN High operational cost of banks, inhibits but no credit lending volumes on small loans. history) High bo
Slide 24: MSME Loans: The Opportunity
MSME LOANS: THE OPPORTUNITY THE PROBLEM Rs. 1,38,000 Bn India’s GDP to reach USD 5 trillion; MSME to grow USD ~2 trillion by FY2028 Overall MSME Credit Addressable Market MSME sector is the key to India’s ‘Employment Generation’, making it one of the Central themes of Government in the last decade M
Slide 25: Our Tailored Loan Offerings
Our Tailored Loan Offerings Loan Offerings Small Income Generation SME/MSME Vikas Loan Pragati Loan Gati Loan Raftaar Loan Udaan Loan Umeed Loan Do ka Dum Loan Ready Steady SME/MSME Go Loan 2nd Time Borrowers Two-Wheelers for Vehicles for Small Business Loans (Existing To Credit) Small Businesses &
Slide 26: Broadening Product Suite
Broadening Product Suite Broadening MSME & Income Generation Product Suite via Asset Light Expansion of Institutional Partnerships Product Suite Small Income SCV Industrial Generation Equipment LAP Agri Equipment 3-Wheeler Alternative Fuel Medical based Mobility Business Loans Solar Equipment Equipm
Slide 27: Scaling Loan Book with Sustained Disbursals
Scaling Loan Book with Sustained Disbursals AUM expands by 16% YoY to Rs 55,082 mn in 9MFY26, with steady expansion across segments AUM Breakup (Rs. Mn) Other Income Generation 15,450 14,930 7% Other MSME/SMEs 9,088 Food & Hospitality 5,158 37,398 12% 24% 4,684 30,410 25,840 21,815 Vehicle 18,494 3%
Slide 28: High Tech: High Touch
3.2 HIGH TECH : HIGH TOUCH Engage and transact without friction Q3 FY 2026 27 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 29: High Tech: From Onboarding to Collection
High Tech: From Onboarding to Collection Operational capabilities backed by robust tech infrastructure Digital Onboarding Loan Origination (LOS) Loan Servicing Collection Management Digitizing loan life cycle management Analytics-based Business Rule Engine Disbursal and repayment schedule Enabling r
Slide 30: High-Touch: Pan India Network
High-Touch: Pan India Network Accelerating presence in existing high-potential states while expanding into new, contiguous markets….. State wise portfolio breakup (%) Delhi 28.8% Uttar Pradesh 12.9% Maharashtra 17.4% Haryana 18.3% Rajasthan 14.5% Others 8.2% Customer Franchise (Mn) 14 9 Touch Points
Slide 31: Scalable and Successful Platform
Scalable and Successful Platform …..through a mix of branch led and asset light touchpoints expansion Branches Distribution touchpoints Business Correspondents 402 3,041 1,429 1,314 351 279 973 1,900 220 1,203 432 400 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 FY23 FY24 FY25 9MFY26 Critical on-grou
Slide 32: Business Correspondent
Business Correspondent Strategic collaboration with local communities to enhance customer reach and gain market share Business Correspondent (BC) By leveraging trusted local Services offered as Business Correspondent channel is central to Paisalo’s partnerships, the BC network strategy to drive fina
Slide 33: Underwriting & Risk Management
3.3 UNDERWRITING & RISK MANAGEMENT Q3 FY 2026 32 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 34: Paisalo's CCC Model to Underwriting
Paisalo’s CCC Model to Underwriting Paisalo’s CCC Geo-Spatial mapping Field Investigation Moral integrity Discipline towards repayment Use of AI/ML models to assess Behavioural pattern digital footprints Character Pre-mapped Income to Account Aggregator KPI check business activity as per borrower ty
Slide 35: Underwriting and Risk Management
Underwriting and Risk Management Target market evaluation challenges call for a nuanced, proprietary underwriting approach Lack of Traditional Absence of Formal Credit History (Bureau Data) Income Proof (No ITR) Build detailed understanding of customer via field visits by RM & mapped to On-ground ve
Slide 36: Robust Collection Efficiency
Robust Collection Efficiency In-House, Debt Management Infrastructure High Collection Efficiency (%) Debt Management Infrastructure 98.7% 98.4% 98.8% 98.8% 97.8% 96.1% Pre-defined collection Back-end Collections Branch Manager and path for Field Staff Support Legal support Automated Collection Regio
Slide 37: Asset Quality
Asset Quality Strong Debt Management Infrastructure and Risk Mitigation measures ensuring robust Asset Quality GNPA (%) 1.52% 1.10% 0.99% 0.99% 0.85% 0.83% 0.81% 0.83% 0.72% 0.25% 0.21% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 FY21 FY22 FY23 FY24 FY25 9MFY26 NNPA (%) 1.26% 0.84% 0.76% 0.76% 0.66% 0.68% 0.
Slide 38: Liability
3.4 LIABILITY Q3 FY 2026 37 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 39: Diversifying Leverage to Drive Cost Efficiency
Diversifying Leverage to Drive Cost Efficiency Borrowing Mix and Cost of Borrowing Diverse Lender Base 13.0% 12.6% 11.2% 10.9% Public Sector Banks Private Banks 10.5% 10.3% 1.4% 3% 3% 10% 28% 28% 23% 12% 24% 22% 16% 72% 72% 77% 74% 69% 67% FY21 FY22 FY23 FY24 FY25 9MFY26 Banks and FIs NCDs FCCBs Com
Slide 40: Co-lending Partnerships to Support Expansion
Co-lending Partnerships to Support Expansion Operational Arrangements Collaboration with banks for sourcing, servicing and recovery. Benefits to Paisalo Benefits to Partner Institution Risk and Rewards Sharing Higher ROA & ROE on account of better leverage Lower Cost of Capital with Co-lending invol
Slide 41: Prudent ALM
Prudent ALM Positive Asset Liability Management across Buckets 23,548 Maintaining a consistently positive ALM gap which strengthens the company’s 16,206 liquidity position and reduces refinancing risk. 14,790 11,605 7,413 5,211 Positions the company to meet all debt obligations < 6 Months < 1 Year <
Slide 42: Leadership
3.5 LEADERSHIP Q3 FY 2026 41 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 43: Backed by Experienced Board
Backed by Experienced Board SUNIL AGARWAL SANTANU AGARWAL VINOD KUMAR HARISH SINGH ANOOP KRISHNA Managing Director Deputy Managing Director Executive Director Executive Director Executive Director 33 years of experience, B.Com LLB, played a pivotal A seasoned banking professional MBA, Chartered Acco
Slide 44: Experienced & Professional Management
Experienced & Professional Management Harish Singh Anurag Sinha Gaurav Chaubey Samresh Agarwal Manendra Singh Chief Financial Officer & ED COO & CISO Chief Risk Officer Chief Recovery Officer Chief Compliance Officer 21 15 35+ 40 19 28 26 18 8 Ex-ICICI, Kotak Rajeev Seth BVSKT Bhaskar Anuj Bhatnagar
Slide 45: Shareholding Pattern
04 SHAREHOLDING PATTERN Q3 FY 2026 44 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 46: Shareholding Structure
Shareholding Structure Rs 32.9 Bn ~910 Mn ~112k 10% Dividend Market Capitalization Outstanding Shares Shareholders Others, Key Institutional Investors 30.48% Promoter and SBI Life Insurance LIC Life Insurance Promoter Group, 41.75% As of Maybank Securities Sparrow Asia Fund December 2025 Quadrature
Slide 47: Shareholding Movement
Shareholding Movement Promoters have continuously increased their stake over time Total Shares Outstanding (Mn) 898 898 902 910 846 846 878 811 123.8 128.9 136.4 130.0 134.0 188.9 275.3 Others 109.3 216.6 211.5 176.0 154.1 144.6 167.2 140.3 Institutions 259.9 268.6 238.6 GDR* 336.6 268.6 268.6 336.6
Slide 48: Financial Performance
05 FINANCIAL PERFORMANCE Q3 FY 2026 47 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 49: Profit & Loss Summary
Profit & Loss Summary Particulars Q3FY26 Q3FY25 Q2FY26 YoY% QoQ% 9MFY26 9MFY25 YoY% Interest Income (Rs Mn) 2,436 1,817 2,077 34% 17% 6,521 5,143 27% Total Income (Rs Mn) 2,401 2,038 2,240 18% 7% 6,828 5,773 18% Interest Expense (Rs Mn) 947 821 978 15% (3%) 2,868 2,425 18% Net Interest Income (Rs Mn
Slide 50: RoE Tree
RoE Tree On Total Assets (%) Q3FY26 Q3FY25 Q2FY26 FY25 Interest Income 15.2% 14.6% 14.7% 13.3% Non-Interest income 0.7% 1.8% 1.2% 1.4% Total Income 15.9% 16.4% 15.9% 14.7% Interest Expense 6.7% 6.9% 6.9% 6.2% Net Interest Income 8.5% 7.7% 7.8% 7.0% Net Total Income 9.2% 9.5% 9.0% 8.4% Operating Expe
Slide 51: Balance Sheet Summary
Balance Sheet Summary Particulars As on 31st December, 2025 As on 30th September, 2025 Assets (Rs Mn) Cash and Bank Balances 1,095 567 Receivables 258 277 Loan Assets 53,479 52,493 Investments 201 905 Other Financial Assets 1,296 466 Current & Deferred Tax Assets (Net) - 85 Property, Plant and Equip
Slide 52: Financial Performance over the years
Financial Performance over the years Particulars FY2021 FY2022 FY2023 FY2024 FY2025 9MFY2026 Operational Information AUM (Rs Mn) 23,178 26,973 34,928 45,860 52,328 55,082 Disbursement (Rs Mn) 14,238 16,343 25,990 35,902 37,199 29,180 Number of Touch Points 132 133 1,052 2,455 3,565 4,872 Number of E
Slide 53: ESG
06 ESG Q3 FY 2026 52 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 54: Stepping up on Measurement, Disclosures & Transparency
Stepping up on Measurement, Disclosures & Transparency Sustainability Reporting FY’24 - Inaugural Sustainability Report. - Reported in reference to GRI framework. - Captured Impact on the “3P Framework” – “Purpose, Partnerships & Prosperity”. - Introduced Impact Strategy through “Theory of Change”.
Slide 55: Our Triple A Strategy
Our Triple A Strategy At Paisalo, we offer a range of lending solutions—from income generation and mobility loans to entrepreneurial and enterprise finance-that empower individuals and businesses across India. Our work is guided by the Triple A strategy of Accessibility, Affordability, and Awareness
Slide 56: Our Progress on Triple A Strategy
“Our Progress on Triple A Strategy” Number of Electric Vehicles financed Number of small and medium Lives Impacted (in Mn) enterprises supported 2,141 2,433 14 13 11 1,132 934 678 678 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 55 Investor Presentation Q3 FY 2026 www.paisalo.in
Slide 57: Our Progress on Triple A Strategy
Our Progress on Triple A Strategy Accessibility Q1 FY26 Q2 FY26 Q3 FY26 Number of Pin codes served 9,968 10,299 10,334 Number of states served 22 22 22 Touchpoints 3,997 4,380 4,872 Customers served by BC Channel 1.48 Mn 1.74 Mn 1.61 Mn Women customers served 89% 90% 90% Affordability Cashless Colle
Slide 58: Thank You
T H A N K Y O U For further information, please contact: Investor Relations Team ir@paisalo.in 57 Investor Presentation Q3 FY 2026 www.paisalo.in