Piramal Finance Limited — PPTs, 23-03-2026: Investor Presentation

Here's a summary of the investor presentation, focusing on key insights for retail investors:

**1. Business Performance:**

Piramal Finance continues to show strong growth, with total Assets Under Management (AUM) up 23% YoY. The "Growth" business now constitutes 95% of the total AUM, highlighting a successful shift away from the legacy portfolio. Retail lending is the primary driver, making up 82% of total AUM, with significant growth in Housing Loans (+34% YoY) and Loan Against Property (LAP) (+22% YoY). Wholesale 2.0 also saw a healthy 35% YoY AUM growth.

**2. Growth Drivers or Strategy:**

The company is focused on building a granular, diversified, and profitable lending business. Key strategies include expanding its multi-product retail platform using a "High Tech / High Touch" model and growing its Wholesale 2.0 segment by tapping into the real estate and corporate mid-market lending opportunities. They are also committed to bringing Legacy AUM below 5% of total AUM by March 2026.

**3. Recent Developments:**

Piramal Finance announced the monetisation of its Shriram Life Insurance stake for ₹600 Cr. The company has also secured inaugural DFI funding of $350 million from IFC & ADB and received positive ratings of AA+ from Crisil, Care, and ICRA for its long-term debt.

**4. Key Financial Metrics:**

Consolidated Net Profit After Tax (PAT) surged by 940% YoY to ₹401 Cr in Q3 FY26. The Net Interest Margin (NIM) improved by 51 bps YoY to 6.3%. Return on Average Assets Under Management (RoAUM) for the growth business stood at 1.9%. Leverage (AUM/Equity) is at 3.5x, with a Capital Adequacy Ratio of 20.3%.

**5. Management Commentary / Outlook:**

The company is on track to meet its FY26 targets and is aiming for ₹1.5 lakh Cr AUM by March 2028. They expect continued AUM growth of 23-26% CAGR, aiming for a RoAUM of over 3% and an AUM-to-equity ratio of 4.5-5.0x. The focus remains on stable risk and steady earnings.