BAJAJ FINANCE LIMITED

Lends to consumers, small businesses and homeowners, earning interest and fee income on a loan book of roughly ₹5,46,944 crore in assets under management as of Q1 FY27. The business runs across consumer lending (two-wheeler and three-wheeler financing, consumer durables, personal and salaried loans), small business lending to MSMEs, gold-backed loans, and mortgages through subsidiary Bajaj Housing Finance. Gold loans grew 115% year-on-year to 3.5% of AUM and are being scaled toward 5% of AUM by FY27, while the MSME book is being brought back to double-digit growth after a period of risk pruning. Customer franchise stood at 124.43 million across 4,098 branches and 155,369 employees, with 16.13 million new loans booked in Q1 FY27 alone. The company also takes deposits (around ₹68,500 crore) and raises wholesale funding via secured non-convertible debentures on private placement. Net NPA sat at 0.39% with capital adequacy of 20.90%, and the Q1 FY27 loan book generated ROE of 20.4%. Operating costs are dominated by people (11% of revenue) and other opex (5%), with negligible materials spend, consistent with a financial services model.