Pune, February 4, 2026 – Bajaj Finserv, the holding company for Bajaj Group's financial services businesses, has announced its financial results for the third quarter of fiscal year 2026, reporting a notable surge in revenue but a muted profit growth. The company's consolidated revenue from operations stood at ₹39,708 crore, marking a 24% increase compared to ₹32,042 crore in the corresponding period of the previous financial year.
However, the consolidated net profit remained nearly flat at ₹2,229 crore, slightly below the ₹2,231 crore reported during the same period last year. This marginal decrease in profit reflects a trend of increased revenue not translating directly into proportional profit growth.
Key Financial Highlights:
- Revenue: Total revenue from operations climbed to ₹39,708 crore, a 24% year-on-year increase.
- Profit Before Tax (PBT): ₹5,926.28 crore.
- Profit After Tax (PAT): ₹2,229.15 crore.
- Earnings Per Share (EPS): Basic EPS stood at ₹14.0 (not annualized).
Segmental Performance and Strategic Updates:
Bajaj Finserv's performance was underpinned by the robust results from its key subsidiaries. A significant strategic move during the quarter was the acquisition of the remaining 23% equity stake from Allianz SE in its insurance subsidiaries. This acquisition, completed on January 8, 2026, involved an investment of ₹939.29 crore, increasing Bajaj Finserv's direct stake to 75.01% in both Bajaj General Insurance Limited and Bajaj Life Insurance Limited. The Bajaj Group now holds a collective 97% stake in each insurance company, granting full strategic control and concluding the joint venture with Allianz SE.
The company's subsidiaries demonstrated strong operational performance:
- Bajaj Finance Ltd (BFL): The retail financing arm saw its Assets Under Management (AUM) grow by 22% year-on-year, reaching ₹4.84 lakh crore. It reported a consolidated PAT of ₹3,978 crore. Bajaj Finance proactively made an accelerated Expected Credit Loss (ECL) provision of ₹1,406 crore to strengthen its balance sheet.
- Bajaj General Insurance: Recorded a 12% year-on-year growth in Gross Written Premium, amounting to ₹7,389 crore, and maintained a healthy Combined Ratio of 97.9%.
- Bajaj Life Insurance: Experienced substantial growth, with Gross Written Premium increasing by 23% year-on-year to ₹7,854 crore. The Net Value of New Business (VNB) surged by 59% to ₹405 crore, indicating strong profitability.
Additional Developments:
The Board of Directors has approved the issuance of 27,36,768 equity shares to the Bajaj Finserv ESOP Trust, under the company's employee benefit scheme, reinforcing its commitment to employee engagement and wealth creation.
Market Reaction and Future Outlook:
The announcement comes at a time when benchmark indices SENSEX and NIFTY were trading flat with a negative bias. While the company has shown impressive revenue growth, the flat profit might be a point of concern for investors.
Going forward, the full acquisition of the insurance ventures is expected to streamline operations and provide strategic flexibility. The company's focus will likely remain on sustaining AUM growth in Bajaj Finance, improving the combined ratio in general insurance, and enhancing the value of new business in the life insurance sector.