Bajaj Finserv targets 22% profit CAGR, 2x customers in 5 yrs

Bajaj Finserv ~ the holding company of Bajaj group’s financial services business — has laid out plans for the next five years.

- AATHIRA VARIER

During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at %21,000-24,000 crore on a consolidated basis. It is also targeting over 220 million active customers from over 100 million now.

‘The Bajaj management has unveiled the blueprint of the group's long range strategy for 2026-2030 during which it has set its eyes on listing the insurance ventures.

The group will also focus on nonresident Indians (NRIs) through GIFT City and other lines of business. These include pension fund management and activating plans for the exit of Allianz from the group early next calendar year.

Bajaj Finance - the lending arm - is on course to achieve assets under management (AUM) of 5 trillion by the end of the current financial year. It wants to increase retail market share to 3.6-4 per cent by 2030 from 2.8 per cent now, and 100 million loans from 50 million now.

“The completion of the Allianz buyout by early next calendar year and becoming a 100 per cent Bajaj company will enable us to look at how we can put excess capital to use,” said Sanjiv Bajaj, chairman & managing director (MD), Bajaj Finserv, while laying out the long-range strategy.