Bajajfinsv Management Guidance Tracker

Management expects absolute NBV to grow at a similar pace as historical 24% rolling 12-month growth, with margins stabilizing around 15%.

Expansion in distribution and geographies is expected to sustain motor growth in the medium term, though market dynamics may affect it.

Management expects NBV growth to sustain as par product mix improves and new bank partnerships contribute.

BFL continues to deliver on AUM growth, profitability, and asset quality targets as per its stated guidance.

Management expects continued strong growth in IRNB, with focus on product mix and channel diversification.

The company aims to grow faster than the industry in profitable segments, leveraging distribution expansion.

Management expects continued market share gains driven by distribution expansion and prudent underwriting, but no specific growth target given.

Steps taken to strengthen collections and slow rural B2C business should yield results in the second half of FY25.

The marketplace business expects to break even on a cash basis within the next couple of quarters.

Management expects core premium growth to continue outpacing the industry, driven by disciplined underwriting.

Management expects VNB to grow faster than top-line due to product structure changes and focus on profitability.

After a muted H1 due to high base and agency channel reset, growth is expected to recover in the second half of FY26.

Management aims to maintain profitable growth, prioritizing underwriting performance over market share in tender-driven businesses.

Bajaj Finance guided for over 50 million new loan disbursements in full-year FY26, up from 13.49 million in Q1.

Bajaj Finance expects to add 14-16 million new customers in FY26, with 4.69 million added in Q1.

Management indicated that H2 growth will be significantly comfortable due to favorable base effects and strategy execution.

After four quarters of flattish top line, management expects significant growth trajectory above industry from Q3 onwards, supported by GST tailwinds.

Bajaj Finance cut unsecured MSME volumes by 25%, leading to full-year AUM growth of only 10-12% in that segment.

Management indicated growth in H2 FY26 should be exceeded in FY27, driven by new bancassurance partners and agency channel recovery.

After a tactical Q1 with higher ULIP share, PAR mix is expected to revert to December 2022 levels, with corrective actions already taken in July.

Deficiencies pointed out by RBI have been mostly cleared; disbursements expected to resume after regulatory approval.

Post-Vidal acquisition, management will outline a complete long-range plan including breakeven visibility within 6-9 months.

Management committed to bringing down loan losses in the coming year.

Based on current trajectory, the health business expects to reach operating breakeven within two years.

With platform migration complete and new revenue structures, Bajaj Markets aims to break even by the end of the current fiscal year.

Due to investments in manpower and rural expansion, combined ratio may temporarily exceed 100% before normalizing.

Directionally, NBV margins expected to improve due to scale and cost efficiencies, though no specific numbers provided.

Management indicated that large commercial claims in Q1 are one-offs and not expected to recur, with combined ratio likely improving.

New surrender value norms could temporarily impact margin expansion, but medium-term expansion expected through product filings and cost optimization.

Management expects VNB margins to improve in H2 as product mix rebalances away from ULIPs and commission deferrals take effect.

Continued focus on profitable growth with combined ratio superior to industry average.

Management expects VNB margin expansion to accelerate, with benefits from cost actions and product mix fully playing out by FY27, but visible from H2 FY26.

Management reiterated its endeavor to keep combined ratio close to 100%, despite current elevated levels.

Management expects to manage the GST input tax credit burden through product restructuring and distributor negotiations within the next two quarters.

Excluding GST impact, management expected NBM expansion of 4-6% for the full year, but GST noise may affect H2.

Management expects margin expansion to continue but at a slower pace due to base effects; GST impact pushed back margin targets by 2-3 quarters.

The acquisition of Vidal Healthcare will accelerate Finserv Health's position in the healthcare payment spectrum.

Acquisition completed in April 2024; integration and utilization of Vidal network to begin next quarter.

Bajaj Finserv Health and Bajaj Markets are expected to increase transaction volumes and achieve greater scale, with health targeting international expansion.

Plans to start alternative investment funds and portfolio management services targeting high-net-worth clients, subject to regulatory approvals.

Process of regulatory approvals initiated for a pension fund management business and a branch in GIFT City.

AMC is actively considering PMS and SIF/AIF products, with launches expected in the next 1.5 years.

BFL plans to invest ₹500-600 crore in health tech and asset management over the next 18 months.

Revenue growth expected to resume from Q4 onwards after software migration to SFDC is completed in Q3.