Bajaj Finance, a leading non-banking finance company (NBFC), reported a 31 percent year-on-year increase in its Assets Under Management (AUM) for the quarter ended June 30, 2024. The company’s AUM rose to Rs 3.54 trillion, up from Rs 2.70 trillion in the same period last year.
During the first quarter of FY25, Bajaj Finance’s AUM grew by approximately Rs 23,500 crore. The number of new loans booked during this period improved by 10 percent, reaching 10.97 million compared to 9.94 million in the corresponding quarter of FY24.
The company also saw significant growth in its deposit book, which rose by 26 percent year-on-year to Rs 62,750 crore from Rs 49,944 crore as of June 30, 2023. Additionally, Bajaj Finance maintained a strong liquidity position with a consolidated net liquidity surplus of nearly Rs 16,200 crore during the period under consideration.
Customer base
The customer base of the company expanded to 88.11 million, up from 72.98 million as of June 30, 2023, representing an increase of 4.47 million customers in Q4 FY24. Bajaj Finance resumed the sanctioning and disbursement of loans under its ‘eCOM’ and ‘Insta EMI Card’ programs, as well as the issuance of EMI cards, following the removal of restrictions by the Reserve Bank of India on May 2, 2024.
The company also raised around Rs 10,000 crore through qualified institutional placement (QIP) and preferential allotment, which is expected to support growth until FY26. Bajaj Finance continues to demonstrate aggressive customer acquisition and diversification into new business segments, ensuring robust management stability and diversified growth momentum.