MAS Financial Services Limited — Investor Meet, 13-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

MAS Financial Services reported robust Q2 performance with consolidated AUM up 18.3% and PAT up 17.8% YoY. Net Stage 3 assets stood at 1.69%. Management envisions achieving ₹1 lakh Cr AUM within a decade, driven by diversified assets, expanded distribution (15,000 pin codes), and technology adoption. They anticipate the challenging cycle is concluding, expecting growth to return to 20-25%. Asset quality is considered range-bound (1.5-2% net NPA), with vigilance. Operating expenses reflect distribution and fintech partnerships. The company maintains a strong 24.6% capital adequacy, targeting 2.75-3% ROA for long-term value creation. Outlook remains confident for upcoming quarters.