Good quarter across all financial and portfolio metrics albeit marginally lower AUM growth. On track to deliver $ 6-6.5K MM of core AUM growth in FY23. Q3 witnessed highest ever loans booked and new customer addition. Crossed 31 MM net users on the App. Phase 2 of Consumer App has started to go live. On track to go fully digital across all products
and services by March 2023…
AUMOpex to NIIPATROENet NPA
Q3 FY23
$ 28,083
34.7%
$ 362 MM
23.98%
0.41%
MM
Q3 FY22
YoY Growth
Q3 FY22
Q3 FY22
YoY Growth
34.7%
27%
40%
21.20%
0.78%
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Lead financial indicators
Consolidated performance
AUM growth of $ 1,518 MM in Q3. AUM growth was slower in mortgages due to intense pricing pressures.
AUM was up 27% at $ 28,083 MM as against $ 22,050 MM as of 31 December 2021.
New loans booked in Q3 were highest ever at 7.84 MM. New loans booked in Q3 FY22 were 7.44 MM.
In Q3, B2B disbursements were up 6% at $ 1,950 MM as against $ 1,838 MM in Q3 FY22. B2B business witnessed muted post festive demand in November and December. January is looking better.
The Company recorded highest ever new customer addition of 3.14 MM in Q3. Given strong momentum in first 3 quarters, the Company now estimates new customer addition at 11 MM+ in FY23.
Customer franchise stood at 66.05 MM as of 31 December 2022. Cross sell franchise stood at 38.58 MM. Confident of ending the fiscal with 68.5-69 MM customer franchise.
In Q3, the Company added 29 new locations. Geographic presence stood at 3,714 locations and 1,43,900+ distribution points as of 31 December 2022.
Competitive intensity remained elevated across all products. The Company continues to protect its margin profile across businesses. The Company is gradually passing on the impact of higher interest rates to customers across businesses.
In Q3, cost of funds was 7.14%. Cost of funds increased by 23 bps over Q2 FY23. However, the Company delivered NIM at Q2 levels despite an increase in cost of funds.
Liquidity buffer stood at $ 1,552 MM as of 31 December 2022. Given strong ALM management, the impact of recent interest
rate hikes on cost of funds remains gradual.
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Disclaimer
Bajaj Finance Limited published this content on 27 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 12:48:07 UTC.
Bajaj Finance is a non-bank financing company. At the end of March 2017, the group managed EUR8.6 billion in funds, broken down by type of loan as follows:
- consumer loans (45.1%);
- loans to small and medium-sized enterprises (SMEs; 36.7%);
- commercial loans (13.1%);
- rural loans (5.1%).
BAJAJ FINANCE LIMITED 
