Bajaj Finserv reported consolidated profit after tax (PAT) attributable to owners of ₹3,132 crore for the quarter ended June 30, 2026 (Q1FY27), a 12% year-on-year increase. The headline figure was significantly boosted by unrealized mark-to-market (MTM) gains in its insurance subsidiaries. Excluding these MTM gains and including realized equity gains booked under other comprehensive income (OCI), core operational PAT growth was more modest at 5%. The Board of Directors approved the results on July 31, 2026, alongside the strategic expansion into reinsurance business through a new subsidiary, pending regulatory clearance from the Insurance Regulatory and Development Authority of India (IRDAI).

The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) and accompanied by limited review reports with unmodified opinions from statutory auditors KKC & Associates LLP. The Board also approved the allotment of 15,11,358 equity shares to the Bajaj Finserv Employee Stock Option Plan (ESOP) trust, issued at applicable grant prices in compliance with SEBI regulations.

Lending Businesses Drive Core Growth

Bajaj Finance Limited (BFL), the group’s largest profit contributor, delivered robust performance with consolidated PAT rising 28% year-on-year to ₹6,081 crore. This growth was fueled by a 22% increase in net total income to ₹15,224 crore and improved asset quality, with Gross Non-Performing Assets (NPA) declining to 0.96% from 1.03% in Q1FY26. BFL’s assets under management (AUM) grew 24% to ₹546,944 crore, supported by the addition of 51 lakh new customers during the quarter.

Bajaj Housing Finance Limited (BHFL) also posted strong numbers, with AUM surging 24% to ₹149,624 crore due to a 33% year-on-year increase in disbursements. Its standalone PAT grew 23% to ₹715 crore, driven by low loan losses and improved expense ratios. BHFL’s capital adequacy ratio stood at 21.47% as of June 30, 2026, well above the regulatory requirement of 15%.

Insurance Segment Performance

In the insurance segment, Bajaj Life Insurance Limited reported an 87% jump in Net Value of New Business (VNB) to ₹271 crore, supported by a higher retail protection mix and cost optimization. Its Gross Written Premium (GWP) rose 35% to ₹7,399 crore. Conversely, Bajaj General Insurance Limited faced headwinds, with PAT falling to ₹478 crore from ₹660 crore in Q1FY26 due to lower capital gains and a higher claim ratio of 74.3% compared to 71.1% in the previous year, despite GWP growing 11% to ₹5,789 crore. The company’s solvency margin remained strong at 254%, well above the regulatory norm of 150%.

Emerging Businesses and Strategic Initiatives

Emerging businesses showed mixed results. Bajaj Finserv Direct Limited saw revenue rise 32% to $11 million, though it reported a PAT loss of $4 million. Bajaj Finserv Health Limited processed approximately 6 million healthcare transactions but reported muted revenue growth due to planned business model realignment. Bajaj Asset Management Limited ranked 26th among all mutual funds, with its SIP book growing 66% to $20 million as of June 2026.

What the Numbers Show

The consolidated results reveal a dual narrative: strong operational execution in lending businesses versus volatility in insurance profitability driven by market-linked gains. The 5% core PAT growth, excluding MTM gains, suggests underlying operational stability despite macroeconomic pressures affecting capital markets. The significant contribution of unrealized gains ($19 million total) to the headline PAT indicates that future earnings may be more sensitive to equity market performance than pure underwriting or lending margins. Investors should monitor the realization of these gains and the progress of the new reinsurance venture, which aims to diversify risk and enhance underwriting capabilities beyond traditional products.

A notable block trade was executed on the BSE involving shares of Bajaj Finserv , amounting to a total deal value of ₹87.84 crore. The transaction is among the significant bulk deals recorded on the exchange, drawing attention from market participants tracking large institutional activity.

Block Trade Details

The following table summarises the key parameters of the block trade:

Key Highlights

• The block trade was executed on the BSE.
• Approximately 460876 shares changed hands in the transaction.
• The deal was executed at a price of ₹1906.00 per share.
• The aggregate value of the block trade stood at ₹87.84 crore.

Block trades of this scale are typically executed by institutional investors or large market participants and are reported separately on exchange platforms to ensure transparency in price discovery and market activity.