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Near term clouds Bajaj Fin 3.0
Mint Mumbai
|December 13, 2024
Lagging behind Bajaj Finance's shares have underperformed the benchmark Nifty 50 index so far in 2024.
Bajaj Finance Ltd laid out its long-range strategy for 2025-29, building on the framework of last year's 2024-28 strategy. Among the key goals, the non-banking financial company expects to increase its share in the total credit market to 3.2-3.5% by FY29 from 2.1% at September-end.
It expects the retail credit market share to rise to 3.8-4.2% by FY29 from 2.7% at September-end. Over the same period, it also aims to expand its customer franchise to 190-210 million, up from 92.1 million.
During BFL 1.0 (2008-2016) transformation, Bajaj Finance diversified its offerings, increasing its assets under management (AUM) to ₹44,229 crore from ₹2,478 crore. BFL 2.0 (2017-2024) marked a digital pivot, with AUM surging to ₹3.3 trillion and the customer base growing to 83.6 million from 20.1 million.
This story is from the December 13, 2024 edition of Mint Mumbai.
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