Bajaj Finance Ltd has re-appointed Prashant Verma as Chief Information Security Officer (CISO). The appointment is effective February 1, 2027, for a period of three years, subject to regulatory approvals.

The Board of Directors approved the re-appointment based on the recommendation of the Nomination and Remuneration Committee. The decision was taken at a meeting held on October 19, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Profile and Experience

Prashant Verma has served as the CISO of Bajaj Finance since February 1, 2024. He brings approximately 21 years of full-time experience in the security domain. Prior to his current role, he joined the company as the head of the Cyber Risk Unit seven years ago.

His professional background includes architecting security services and working as a security auditor and consultant for various domestic and international banks and insurance companies. Verma holds the Certified Information Systems Security Professional (CISSP) certification and is a co-author of several security books.

Regulatory Compliance Details

The disclosure was made pursuant to Regulation 30, read with Part A, Para A of Schedule III of the SEBI Listing Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The terms of the re-appointment are aligned with the company’s policy applicable to senior employees.

Bajaj Finance reported a consolidated profit after tax of ₹6,367 crore for Q2 FY27, marking a 29% year-on-year growth. Assets under management (AUM) expanded by 26% to ₹584,624 crore as of September 30, 2026. The company’s investor presentation highlights that AI-driven initiatives generated disbursements of ₹2,744 crore, a 112% increase year-on-year.

The Board of Directors approved the unaudited standalone and consolidated financial results on October 19, 2026. The earnings conference call was scheduled for the same day at 6:00 pm IST, featuring Vice Chairman & Managing Director Rajeev Jain and Chief Operating Officer & Chief Financial Officer Sandeep Jain.

Consolidated performance highlights

The NBFC’s strong quarterly performance was driven by robust loan growth and improved asset quality metrics year-on-year. Key consolidated figures include:

Loan losses and provisions stood at ₹2,166 crore in Q2 FY27, including ₹337 crore of prudent management and macro-economic provisions. Excluding this buffer, provisions declined 12% year-on-year. Gross NPA improved to 1.06% from 1.24% in Q2 FY26, while Net NPA tightened to 0.42% from 0.60% on a year-on-year basis.

Sequential asset quality trends

While year-on-year metrics showed improvement, sequential data indicates a deterioration in asset quality compared to the previous quarter. Gross NPA rose to 1.33% in Q2 FY27 from 0.96% in Q1 FY27. Similarly, Net NPA increased to 0.53% in Q2 FY27 from 0.39% in Q1 FY27.

Standalone financial results

On a standalone basis, Bajaj Finance clocked a profit after tax of ₹5,536 crore, a 30% increase from ₹4,251 crore in Q2 FY26. Net interest income grew 25% to ₹12,150 crore. The company’s standalone AUM reached ₹426,879 crore, reflecting a 26% annual expansion.

Subsidiary performance

Bajaj Housing Finance Limited (BHFL) contributed significantly to the group’s growth, with its AUM rising 25% to ₹158,205 crore. BHFL’s profit after tax increased 18% to ₹757 crore. Meanwhile, Bajaj Financial Securities Limited (BFinsec) saw its assets under finance grow 59% to ₹12,058 crore, with PAT up 36% to ₹64 crore.

Capital raising plans

In a separate development approved on October 1, 2026, the Board has proposed raising capital through a Qualified Institutions Placement (QIP) of up to ₹11,700 crore and a preferential issue of warrants to promoter Bajaj Finserv Ltd. for up to ₹5,800 crore. These proposals are subject to regulatory and shareholder approvals.

What the numbers show

The divergence between the headline 29% PAT growth and the underlying operational strength is notable. While reported profit grew 29%, profit before prudent management provisions grew 34%. This indicates that the company’s core earnings power is expanding faster than the reported bottom line, which was dampened by a deliberate build-up of macro-economic buffers. Additionally, the simultaneous improvement in asset quality (Gross NPA down 18 bps YoY) alongside 26% AUM growth suggests that the aggressive expansion is not coming at the cost of credit discipline when viewed annually. However, the sequential rise in GNPA to 1.33% from 0.96% suggests some short-term pressure on asset quality in the latest quarter. The consolidated net profit of ₹62.66 billion slightly missed the analyst estimate of ₹64 billion.

A key operational driver disclosed in the investor presentation is the rapid scaling of AI capabilities. Disbursements from leads generated by Voice & Text AI BOTs reached ₹2,744 crore in Q2 FY27, up 112% YoY. Furthermore, the number of dedicated employees working in the AI unit grew 171% YoY to 328, signaling a strategic shift toward technology-led operating leverage.