Piramal Finance (PIRAMALFIN) investor relations material

Strategic vision and growth targets

• Aims to double AUM to ₹1.5 lakh Cr by March 2028, with a focus on building an AI-native, future-proof company.

• Targets ROAUM above 3% and AUM-to-equity ratio of 4.5–5.0x, emphasizing profitability and capital efficiency.

• Predictable, steady earnings and stable risk profile with consistent profit growth over the last eight quarters.

• AI-driven initiatives are optimizing underwriting, collections, customer experience, and productivity.

Business model and transformation

• Transitioned to a retail-led, diversified lending platform with 82% of AUM in retail as of Dec 2025.

• Legacy (discontinued) business reduced to 5% of AUM, with further reduction targeted by FY26.

• Simplified corporate structure through pharma demerger and PEL-PFL merger; significant non-core divestments completed.

• Strong promoter backing and management team with deep financial services and technology expertise.

Financial performance and asset quality

• Q3 FY26 AUM up 23% YoY to ₹96,690 Cr; growth AUM up 34% YoY and now 95% of total AUM.

• Net interest margin rose to 6.3%; retail opex-to-AUM declined to 3.8%.

• Consolidated PAT up 940% YoY to ₹401 Cr; growth business ROAUM at 1.9%.

• Asset quality stable: GNPA at 2.6%, NNPA at 1.9%; credit cost for growth business down to 1.6%.