Piramal Finance Limited has reported a Profit After Tax (PAT) of ₹545 crore for the second quarter ended September 30, 2026, marking a 67% rise over the same period last year. With this, the company’s PAT for the first half of FY2027 stands at ₹1,006 crore, also up 67% year-on-year.
The company’s Assets Under Management (AUM) grew 24% year-on-year to ₹1,13,112 crore, driven by a 30% increase in its Growth AUM, which excludes the discontinued legacy business. Retail AUM rose 30% to ₹97,462 crore and now accounts for 86% of total AUM, while Wholesale AUM grew 24% to ₹13,978 crore.
Mortgage AUM, comprising housing loans and loans against property, grew 27% to ₹64,650 crore. Retail disbursements during the quarter increased 34% to ₹14,646 crore, reflecting sustained customer demand, while wholesale disbursements rose 28% to ₹2,615 crore.
Net interest income for the quarter rose 35% year-on-year to ₹1,530 crore, and pre-provision operating profit grew 64% to ₹846 crore. Net income margin expanded by 35 basis points to 6.5%, while the cost-to-income ratio improved to 52.1% from 61.2% a year earlier. The Growth business return on AUM improved to 2.0% from 1.7%, with operating expenses to AUM declining to 3.2%. Asset quality remained stable, with gross NPA at 2.4% and net NPA at 1.7%, and retail 90+ DPD at 0.7%. The company’s net worth stood at ₹31,180 crore, supported by cash and equivalents of ₹6,899 crore. Moody’s Ratings also upgraded the company’s rating to ‘Ba2’ from ‘Ba3’ with a stable outlook.
During the quarter, Piramal Finance completed an equity capital raise of ₹3,850 crore, comprising a QIP of ₹2,100 crore and a preferential allotment of ₹1,750 crore of warrants to the promoter group, strengthening its capital base to support future retail-led growth. The company’s nationwide footprint expanded to 838 branches across 621 cities in 25 states, and its customer franchise grew 26% to 6.5 million.
The company also announced the appointment of Dinesh Kumar Khara, former Chairman of the State Bank of India, as an Independent Director for a five-year term, bringing nearly four decades of experience in financial services to the board.
Speaking on the performance, Anand Piramal, Chairman, Piramal Finance Limited, said, “Q2 marks another quarter of consistent performance across growth, profitability and predictability, with our Growth AUM increasing 30% yoy. We are encouraged by the confidence shown in us through our first capital raise as Piramal Finance, including strong participation from domestic and global investors.
This quarter also marks five years since the DHFL merger, an important milestone in our transformation into a diversified, retail-led financial institution serving around 6.5 million customers across Bharat.
“We are grateful for their trust and recognise the responsibility that comes with this scale. As we grow, our focus remains on expanding responsible access to formal credit, combining our physical network with technology and AI to serve customers better. We remain committed to delivering sustained, profitable growth and building a strong and sustainable institution for the long term,” he added.
Piramal Finance continued to scale its use of generative AI through Piramal.ai during the quarter. GenAI usage grew over five times year-on-year, and AI now generates 57% of the company’s overall code. Voice AI enabled ₹102 crore in cross-sell disbursements, while monthly hands-free collections rose more than 2.5 times to ₹754 crore. AI tools analysed around 1.94 lakh bank statements to support credit decisions and generated fraud alerts across roughly 20.9 lakh cases. The company also launched PIA (Piramal Investor Assistant), an AI-powered investor relations agent that lets investors analyse financial performance across quarters and access management commentary from past earnings calls.
