Company Update : Bajaj Finance by Motilal Oswal Financial Services Ltd
Strong AUM growth of ~24% YoY; customer franchise grows 17% YoY New loans booked rose ~20% YoY
* Total customer franchise stood at ~124.43m, up ~17% YoY/4.3% QoQ.
* New customer acquisition stood at ~5.1m (vs 4.7m in 1QFY26). New customer acquisitions grew 9% YoY.
* New loans booked rose ~20% YoY to 16.1m (vs 13.5m in 1QFY26). Within this, contribution from new customers stood at ~31.6% (PQ: 30.5% and PY: 34.8%).
* AUM stood at INR5.47t, up ~24% YoY/~7.2% QoQ (better than our estimates).
* Deposit growth was weak and declined 5% YoY, while remaining flat QoQ at INR685b.
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