Bajaj Finance Q4 FY26 profit up 22% with ₹6 dividend

What Bajaj Finance reported for Q4 FY26

Bajaj Finance reported a 22% year-on-year increase in consolidated profit after tax (PAT) for the fourth quarter of FY26. The company said Q4 FY26 consolidated PAT rose to ₹5,553 crore, compared with ₹4,545 crore in the year-ago quarter. The print keeps Bajaj Finance among the faster-growing large NBFCs by earnings in the quarter ended March 31, 2026. The results also showed continued expansion in the loan book, with assets under management rising at a similar pace. Alongside the numbers, the board announced shareholder and governance updates that are likely to be watched by investors.

AUM growth stays strong as of March 31

Bajaj Finance reported Assets Under Management (AUM) of ₹509,975 crore as of March 31, reflecting 22% year-on-year growth. The AUM figure indicates that the company maintained momentum in disbursements and portfolio expansion through FY26. AUM growth is often used as a key operating indicator for NBFCs because it captures the scale and trajectory of lending. In Bajaj Finance’s case, the 22% AUM increase matches the 22% YoY PAT growth reported for the quarter. While the dataset provided does not include details such as net interest income, credit cost, or asset quality metrics for Q4 FY26, the headline AUM and PAT numbers point to steady operating traction through the end of the fiscal year.

Full-year FY26 PAT rises 15%

For the full year, Bajaj Finance reported consolidated PAT of ₹19,332 crore, up 15% year-on-year. The gap between full-year growth (15%) and Q4 growth (22%) suggests that profitability accelerated in the last quarter compared with the broader year trend, based on the numbers shared. Investors typically track the full-year PAT trend to judge whether quarterly performance is consistent or driven by one-off factors, but no one-off items were specified in the provided information. What is clear from the figures is that the company closed FY26 with double-digit earnings growth and a large balance sheet as measured by AUM.

Dividend: board recommends ₹6 per share

Bajaj Finance’s board recommended a final dividend of ₹6 per share. A final dividend is subject to shareholder approval, typically at the annual general meeting (AGM). For income-focused investors, the dividend decision is an additional data point alongside growth metrics like AUM and PAT. The provided information does not specify the record date or payment date for the dividend, so the market will likely look to the company’s formal notices for timelines.

Board change: Rajiv Bajaj to step down after AGM

The company also disclosed a board-level change. It said non-executive director Rajiv Bajaj will step down from the board after the AGM scheduled on July 30, 2026. Director exits can prompt questions from investors around governance continuity and board composition, even when they are planned transitions. The update is notable because it comes alongside results and a dividend recommendation, which are moments when shareholder attention is higher.

Bajaj Housing Finance: Q4 FY26 profit up 14.06% YoY

Separately, Bajaj Housing Finance Ltd, described as the housing finance arm of Bajaj Finance, reported its Q4 FY26 results for the quarter ended March 31, 2026. The company posted net profit of ₹669.19 crore, a 14.06% year-on-year increase. It also reported a marginal sequential rise of 0.65% quarter-on-quarter. The information provided noted that interest income rose 15.69%, pointing to healthy topline momentum, even as profitability metrics saw some pressure.

NII rises, but NIM slips to 3.8%

Bajaj Housing Finance reported net interest income (NII) of ₹945 crore in Q4 FY26, up 15% year-on-year from ₹823 crore in the corresponding quarter last year. However, its net interest margin (NIM) declined to 3.8% in Q4 FY26 from 4% in Q4 FY25. A lower NIM typically indicates tighter spreads due to funding costs, pricing competition, or mix changes, though the provided details do not break down drivers. The company’s performance was framed as strong operationally, but mixed on margins.

Stock and valuation context for Bajaj Housing Finance

On the market side, Bajaj Housing Finance shares closed at ₹91.09 on April 27, 2026, and were cited as trading 33.51% below their 52-week high of ₹137.00. The stock’s 52-week high was also referenced at ₹136.96 on April 24, 2025, while the year’s low was ₹72.65 on March 30, 2026. The scrip was noted as up 2% over the past week and 20% over the month, but down 5% on a year-to-date basis. Market capitalisation was cited at ₹76,032.55 crore as of April 27, 2026.

ICICI Securities view and management targets cited

ICICI Securities maintained a Buy rating on Bajaj Housing Finance with an unchanged target price of ₹125, valuing the stock at 4x FY27E price-to-book (P/B). The brokerage note highlighted the company’s diversified portfolio across home loans, lease rental discounting (LRD), developer finance (DF), and loan against property (LAP). It also cited a target of 5% share of home loan originations, up from the current 2.5-2.7%. Additionally, Bajaj Housing Finance reported RoA of 2.2% and RoE of 12%, stated to be in line with management guidance and its eight-quarter average.

Key numbers snapshot

What investors may track next

For Bajaj Finance, the immediate items to watch are the shareholder process around the ₹6 final dividend and the July 30, 2026 AGM, after which Rajiv Bajaj is set to step down from the board. For Bajaj Housing Finance, the focus points in the provided data are the combination of NII growth and margin compression, and how that interacts with valuation debate and trading levels. Investors also have a clear reference from the ICICI Securities target price of ₹125 and the stated goal of reaching a 5% share of home loan originations from 2.5-2.7%.

Conclusion

Bajaj Finance closed Q4 FY26 with 22% YoY growth in consolidated PAT to ₹5,553 crore and AUM at ₹509,975 crore, while recommending a final dividend of ₹6 per share and flagging a board change post the July 30, 2026 AGM. Bajaj Housing Finance reported 14.06% YoY profit growth to ₹669.19 crore, with NII rising to ₹945 crore even as NIM eased to 3.8%. The next set of formal milestones includes Bajaj Finance’s AGM and subsequent corporate actions linked to the dividend recommendation.