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Bajaj Finance’s assets under management (AUM) grew by 28% year-on-year to ₹3.98 lakh crore as of December 31, 2024, compared to ₹3.10 lakh crore as of December 31, 2023. AUM grew by approximately ₹24,100 crore in the third quarter of the current fiscal.
The NBFC’s deposits book stood at approximately ₹68,800 crore as of December 31, 2024 as compared to ₹58,008 crore as of December 31, 2023, a growth of 19%.
Bajaj Finance informed the exchanges that its new loans booked were highest ever at 12.06 MM in Q3 of FY25 as compared to 9.86 MM in Q3 of FY24, recording a growth of 22%.
Customer franchise as of December 31, 2024 stood at 97.12 million as compared to 80.41 million as of 31 December 2023. In the third quarter of FY25, the company recorded highest ever quarterly increase in its customer franchise of 5.03 million.
Recently, global brokerage firm Citi has opened a 90-days positive catalyst watch on shares of Bajaj Finance Ltd. on January 2. Citi has a ‘Buy’ rating on the stock, with a price target of ₹8,150 per share.
Citi had said that after the credit cost guidance revision in the September quarter to 2.05% for financial year 2025, it expects only a marginal uptick in the December quarter credit costs to 2.2% to 2.25%. Bajaj Finance initiated risk actions by cutting segments and pruning exposures as well, according to the brokerage.
Out of the 36 analysts that track shares of Bajaj Finance, 26 of them have a ‘Buy’ rating on the stock, while six and four analysts each have a ‘Hold’ and ‘Sell’ rating on the stock, respectively.
Shares of Bajaj Finance Ltd. settled 0.29% lower on Friday at ₹7,367.90. The stock has delivered a negative return of 4% in the last one year.
First Published: Jan 4, 2025 10:59 AM IST
