Piramal Finance Limited — Q1FY27 earnings call summary

Filed 16 July 2026 · Company audio recording

Cost of borrowing declined 4bps QoQ to 8.80%; AA+ rating upgrade expected to lower borrowing costs further
FY27 AUM growth target reaffirmed; Q1 growth business AUM +32% YoY, total AUM +25% YoY to Rs.1.07tn
PAT surged 67% YoY to Rs.461cr in Q1; ROAUM expected to rise from 1.9% in Q1 to 2.5% by Q4 FY27
Retail OPEX/AUM improved to 3.5% (down 10bps QoQ); cost-to-income ratio improved to 53% from 66% YoY
AI-driven productivity gains continue; AI token usage surged to 320bn in Q1 with flat token costs
Retail customer base grew 24% YoY to 6mn; cross-sell contributes 28% of unsecured disbursements with lower OPEX and credit cost
Wholesale book growth headwind from elevated prepayments continues; refinancing and strong operating cash flows cited
Slight uptick in LAP delinquencies due to idiosyncratic cases; digital loan risk at multi-year lows but volumes to remain agile