Piramal Enterprises Limited — PPTs, 09-09-2025: Investor Presentation

Piramal Enterprises is making big moves, rapidly shifting to a retail-led lending business.

**Business Performance:** Total assets under management (AUM) hit ₹85,756 Cr, up 22% year-on-year. Retail AUM is leading the charge at ₹69,005 Cr (80% of total, up 37% YoY), while Wholesale 2.0 surged 47% YoY to ₹10,425 Cr. Legacy assets are shrinking fast, down 85% since March 2022 to ₹6,327 Cr. Profit after tax (PAT) jumped 52% YoY to ₹276 Cr. Asset quality looks stable: retail 90+ DPD is 0.8%, and Wholesale 2.0 has zero delinquencies.

**Growth Drivers/Strategy:** PEL focuses on 'High Tech + High Touch' for underserved customers in smaller cities. They're building a diversified Wholesale 2.0 book and using AI heavily to boost efficiency, manage risk, and enhance customer experience. New partnerships for Direct Assignment and Co-lending are also scaling up.

**Recent Developments:** The PEL-PFL merger is on track for Q3 FY26, simplifying the company structure. Productivity per branch and employee is steadily rising.

**Key Financials:** Q1 FY26 PAT was ₹276 Cr. Growth business profit before tax (PBT) rose 44% YoY to ₹295 Cr. Capital Adequacy is at 19.3%, with a Debt/Equity of 2.5x and a strong cash buffer of ₹9,070 Cr.

**Management Outlook:** Management expects to hit all FY26 targets, including further AUM growth and reducing Legacy AUM to ₹3,000-3,500 Cr by March 2026.