**MARKET BRIEF: Bajaj Finserv Q3 FY26 Results** **Overview** Bajaj Finserv reported steady consolidated financials for Q3 FY26, characterised by strong top-line growth and resilient operational metrics. While headline profit remained flat due to one-time provisions, underlying momentum across lending and insurance arms drove market optimism. **Consolidated Financials** * **Revenue:** **₹39,708 crore**, up **24%** YoY. * **Net Profit:** **₹2,229 crore**, virtually flat compared to ₹2,231 crore in the previous year. * **Adjusted Profit:** **₹2,936 crore** (up **32%** YoY), if excluding the impact of accelerated ECL provisions (**₹1,406 crore**) and one-time labour code charges (**₹379 crore**). **Subsidiary Performance** **1. Bajaj Finance (Lending Arm)** * **Net Profit:** **₹3,978 crore**, down **~6%** YoY due to higher provisioning. * **Net Interest Income (NII):** Jumped **21%** to **₹11,317 crore**, signalling robust core income. * **AUM Growth:** Assets Under Management surged **22%** to **₹4.86 lakh crore**. * **New Loans:** Booked **13.9 million** new loans, a **15%** increase. * **Asset Quality:** Gross NPA at **1.21%**; Net NPA at **0.47%**. **2. Insurance Business** * **Bajaj Allianz General Insurance:** Gross Written Premium rose **12%** to **₹7,389 crore**. Profit stood stable at **₹399 crore** with a healthy combined ratio of **97.9%**. * **Bajaj Allianz Life Insurance:** Delivered strong value growth. New Business Premium climbed **27%** to **₹3,501 crore**, while Value of New Business (VNB) soared **59%** to **₹405 crore**. **Market Reaction** Investors reacted positively to the operational strength and "clearing of decks" regarding provisions. * **Bajaj Finance** shares rallied nearly **7%** to trade around **₹965**, driven by strong NII and AUM guidance. * **Bajaj Finserv** shares traded **0.7%** higher at **₹2,029**, outperforming the broader Nifty50 index.