Bajaj Finance Ltd., among India's top non-bank lenders reported a 35% growth in its Assets Under Management to ₹3.11 lakh crore for the December quarter, according to its quarterly business update shared on the exchanges. This is the first time that the company's AUM has crossed the mark of ₹3 lakh crore.
In comparison, the company's AUM during the corresponding quarter last year stood at ₹2.3 lakh crore and at ₹2.9 lakh crore during the September quarter. The AUM growth also bettered the 33% rise seen during the September quarter, which was the highest in nearly four years.
During the December quarter, Bajaj Finance booked 98.6 lakh new loans, which is a growth of 26% from the 78.4 lakh loans it booked during the December quarter last year.
Overall customer franchise as of December 31 stood at 8.41 crore, compared to 6.6 crore last year. Customer franchise during the quarter increased by 38.5 lakh, according to the company's statement.
The company's Deposit Book also grew by 35% year-on-year to ₹58,000 crore as of December-end, compared to ₹42,984 crore during the year-ago period.
Bajaj Finance also mentioned that its liquidity position remains strong at ₹11,600 crore as of December 31, 2023.
Shares of Bajaj Finance have opened with gains of nearly 4% at ₹7,650. The stock is the top gainer on the Nifty 50 index.
First Published: Jan 4, 2024 5:35 AM IST