MAS Financial Services Reports 18.3% AUM Growth to INR 13,821 Crores in Q2 FY26
MAS Financial Services Limited, an NBFC, reported consolidated Assets Under Management (AUM) of INR 13,821 crores for Q2 FY26, an 18.32% year-on-year increase. Consolidated PAT grew 17.79% to INR 91.43 crores. The company maintained strong asset quality with net Stage 3 assets at 1.69% and a capital adequacy ratio of 24.57%. MAS Financial expanded its presence across 15,000 pin codes and received IRDAI approval for its insurance broking subsidiary. The company aims to reach an AUM of INR 1 lakh crore within a decade and expects to return to 20-25% annual growth in coming quarters.
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MAS Financial Services Limited , a leading non-banking financial company (NBFC), has reported robust growth in its consolidated Assets Under Management (AUM) for the quarter ended September 30, 2025. The company's AUM reached INR 13,821 crores, marking an 18.32% increase compared to the same period last year.
Financial Highlights
| Metric | Q2 FY26 | Y-o-Y Growth |
|---|---|---|
| Consolidated AUM | 13,821.00 | 18.32% |
| Consolidated PAT | 91.43 | 17.79% |
| Standalone AUM | 12,999.00 | 18.00% |
| Standalone PAT | 89.70 | 17.15% |
| Total Income | 458.61 | 25.09% |
The company's profit after tax (PAT) on a consolidated basis grew by 17.79% to INR 91.43 crores. On a standalone basis, MAS Financial Services reported an AUM of INR 12,999 crores and a PAT of INR 89.70 crores, representing growth rates of 18% and 17.15% respectively.
Asset Quality and Capital Adequacy
MAS Financial Services maintained a strong asset quality with net Stage 3 assets at 1.69%. The company continues to carry a management overlay of INR 17.60 crores, demonstrating a prudent approach to potential risks.
The capital adequacy ratio stands at a robust 24.57%, with Tier 1 capital at 22.7%, indicating a strong financial position and capacity for future growth.
Business Expansion and Future Outlook
Chairman Kamlesh Gandhi outlined the company's medium-term vision of reaching an AUM of INR 1 lakh crore within a decade. This ambitious target reflects the company's confidence in its business model and growth prospects.
MAS Financial has expanded its presence across 15,000 pin codes and collaborates with approximately 200 partner NBFCs, showcasing its extensive reach and diversified business approach.
New Ventures
The company received final approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its insurance broking business through its subsidiary, MAS FinInsurance Broking. This new venture is expected to complement the company's existing financial services offerings.
Housing Finance Subsidiary Performance
MAS Financial's housing finance subsidiary reported an AUM of INR 821.70 crores, achieving a growth of 23.65%. The subsidiary maintained a healthy asset quality with Stage 3 assets at 0.66%.
Market Outlook and Strategy
During the earnings call, management expressed optimism about the improving market conditions for MSMEs. They anticipate a gradual increase in growth rates, projecting a return to their target range of 20-25% annual growth in the coming quarters.
The company remains focused on maintaining a balanced approach to growth, emphasizing the importance of credit quality while expanding its business. Management also highlighted their efforts to improve operational efficiencies and leverage technology to enhance customer service and streamline processes.
MAS Financial Services' strong performance in Q2 FY26, coupled with its strategic initiatives and positive outlook, positions the company well for sustained growth in the evolving financial services landscape.
Historical Stock Returns for MAS Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.58% | +0.66% | +1.44% | +14.83% | +7.12% | -0.86% |
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