Any current/future capex/capital investment/strategic investment?

Bajaj Finance Limited is focused on building its home loan presence at the developer counter as a core home loan business, making it a strategic priority and return enhancer. The company is aggressively growing its Loan against Property (LAP) and launching new secured businesses such as new car financing (launched July 2023), tractor finance (launched January 2024), and commercial vehicle financing (recently launched). Investments are being made in digital infrastructure, including a new app/web platform and a customer acquisition engine ("Rewards"), built on a PPI platform to acquire and

Future growth expectations in sales/revenue/volumes?

FY '25 AUM growth expected at 26% to 28%, driven by new secured businesses like loan against property, new car financing, and tractor finance. Anticipated originations of 12 to 14 million customers in FY '25 (up from 14.5 million in FY '24). Profit growth in FY '25 may be slightly subdued due to moderation in NIM but expected to normalize by FY '26 with a return to medium-term profit growth guidance of 23%-24%. Rural B2C growth currently slow, to be accelerated once portfolio quality improves. LRD (Land and Real Estate Developer) finance business has shown aggressive growth and will co

Future growth expectations in earnings/operating earnings/profits/EPS?

FY '25 profit growth expected to be around 20%, slightly below the medium-term target of 23%-24% due to moderation in NIM and elevated credit costs. ROA expected to decline from 5.1% to about 4.7% in FY '25; 7%-8% decline in profitability anticipated next year. NIM likely to decline by 30-40 basis points in the next year due to rising funding costs and portfolio mix shift towards secured assets. Credit costs expected to remain range-bound between 1.75% and 1.85%. Medium-term guidance of 23%-24% profit growth anticipated to normalize by FY '26, assuming stable macro and regulatory envir

Bajaj Finance LtdQ4 FY24Finance

Bajaj Finance Ltd Q4 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹948P/E: 30.3Market Cap: ₹6.2L CrSector: Finance

Management growth scorecard

Revenue

Category 2

Margin

Category 4

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

FY '25 AUM growth expected at 26% to 28%, driven by new secured businesses like loan against property, new car financing, and tractor finance.
Anticipated originations of 12 to 14 million customers in FY '25 (up from 14.5 million in FY '24).
Profit growth in FY '25 may be slightly subdued due to moderation in NIM but expected to normalize by FY '26 with a return to medium-term profit growth guidance of 23%-24%.
Rural B2C growth currently slow, to be accelerated once portfolio quality improves.
LRD (Land and Real Estate Developer) finance business has shown aggressive growth and will continue to be a key growth driver alongside developer finance and home loans to maintain portfolio mix.
New businesses like gold loan and broking poised for medium to long-term growth, with gold loan potentially reaching INR1,000 crores profit in ~3 years.
Overall, the company maintains a diversified, multi-product growth strategy with long-term focus.

Margin guidance

Category 4

FY '25 profit growth expected to be around 20%, slightly below the medium-term target of 23%-24% due to moderation in NIM and elevated credit costs.
ROA expected to decline from 5.1% to about 4.7% in FY '25; 7%-8% decline in profitability anticipated next year.
NIM likely to decline by 30-40 basis points in the next year due to rising funding costs and portfolio mix shift towards secured assets.
Credit costs expected to remain range-bound between 1.75% and 1.85%.
Medium-term guidance of 23%-24% profit growth anticipated to normalize by FY '26, assuming stable macro and regulatory environment.
BHFL's ROE expected to sustain between 13%-15% in the medium term.
Businesses like gold loan may reach INR 1,000 crores profit in around 3 years, reflecting long-term growth focus.
Operating efficiencies and AI initiatives are expected to improve opex/income ratio by 20-40 basis points after FY '25.

See what Bajaj Finance Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

- The company raised $725 million (INR 6,016 crores) in external commercial borrowings (ECB), all in 3-year tenures. - ECB currently forms 2% of borrowing profile; management expects to increase it to around 4% in the current year. - There is mention of maintaining strong capitalization but no explicit current or future equity fundraising announced. - Bajaj Housing Finance Limited (BHFL), a wholly owned subsidiary, is exploring options for mandatory listing, including a potential IPO. - A committee has been constituted by BHFL’s Board to evaluate listing options; updates will be provided when appropriate. In summary, the company is actively managing its debt profile with ECB and BHFL is working towards a possible IPO for future equity raising.

Order book

The transcript from the Bajaj Finance Limited Q4 FY'24 Earnings Call does not provide specific details on "Current/ Expected Orderbook/ Pending Orders." The discussion primarily covers: - Business growth, market share, new product launches, and financial performance. - Growth plans in developer financing and secured vs unsecured loans. - Regulatory impacts including RBI embargo on some loan products. - Profitability timelines for gold loan and broking businesses. - Asset under management (AUM) growth expectations (26%-28% for FY '25). - Focus on building long-term profitable businesses and diversifying portfolio. - Technology initiatives like account aggregator, social commerce, and rewards platform. No explicit mention of orderbook or pending orders was made in the relevant pages (or anywhere in the document).

See what Bajaj Finance Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Bajaj Finance Limited is focused on building its home loan presence at the developer counter as a core home loan business, making it a strategic priority and return enhancer.
The company is aggressively growing its Loan against Property (LAP) and launching new secured businesses such as new car financing (launched July 2023), tractor finance (launched January 2024), and commercial vehicle financing (recently launched).
Investments are being made in digital infrastructure, including a new app/web platform and a customer acquisition engine ("Rewards"), built on a PPI platform to acquire and engage customers for multiple financial products.
The Board of BHFL (a subsidiary) is evaluating various options for mandatory listing, including a potential IPO, indicating future capital market activity.
The company has diversified its borrowing profile by raising $725 million in three-year external commercial borrowings to support growth.
The company is making big bets on medium-term strategies via digital and open architecture platforms that could dramatically alter its business.

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