Bajaj Finance Ltd.Record AUM Addition, Guidance Review After Q2

Bajaj Finance opened FY27 with what Vice Chairman and MD Rajeev Jain called an excellent quarter, adding a record ₹37,000 Cr of AUM and 5 million new customers.

Profit growth was 28%, with ROE at 20.4% and ROA at 4.7%, even with the overhang from diluting its housing finance subsidiary. Credit quality improved: loan loss to average AUF fell to 1.54% from 1.87% a year ago, and would have been 1.31% without a ₹296 Cr management and macroeconomic overlay created for geopolitical and monsoon risk. Gold loan AUM grew 112%, with 110 new branches being added a month toward a ₹29,000–31,000 Cr year-end target.

Management is doubling down on AI, expanding its AI unit from 230 to 400 people and targeting ₹1,00,000 Cr of digital platform volume next year. Opex to NTI rose to 33.4% on branch investments and the new labor code, but management still expects a 25–40 bps improvement for FY27. On guidance, Jain asked investors to wait one more quarter before any upgrade, and said capital raising would come only after the housing finance subsidiary's dilution.