Piramal PAT Rises 52 per cent on Strong AUM Growth in Q1 FY26

30 Jul 2025 CW Team

Piramal Enterprises Limited (PEL), a leading diversified non-banking financial company, reported its consolidated results for the quarter ended 30 June 2025, delivering a 52 per cent year-on-year rise in profit after tax (PAT) to Rs 2.76 billion. The increase was supported by robust growth in assets under management (AUM) and a continued strategic pivot towards its retail and growth-oriented portfolio.

Total AUM grew 22 per cent year-on-year to Rs 857.6 billion. Growth AUM surged 38 per cent to Rs 794.3 billion, now accounting for 93 per cent of the portfolio, up from just 34 per cent in FY22. Retail AUM rose 37 per cent year-on-year to Rs 690.1 billion, contributing 80 per cent of total AUM. Meanwhile, legacy (discontinued) AUM declined 51 per cent to Rs 63.3 billion, down 85 per cent since FY22.

Net interest margin (NIM) expanded by 10 basis points quarter-on-quarter to 5.9 per cent. Profit before tax stood at Rs 3.01 billion, with Rs 2.95 billion contributed by the Growth business, translating to a PBT-to-AUM ratio of 1.5 per cent. Operating expenses and credit costs for the Growth business continued to trend downward, with credit cost improving to 1.4 per cent from 1.8 per cent in Q4 FY25.

Asset quality remained stable, with gross non-performing assets (GNPA) at 2.8 per cent and net NPA at 2.0 per cent. The company maintained a strong financial position, with net worth at Rs 271.7 billion and liquidity of Rs 90.7 billion in the form of cash and liquid investments, representing 9 per cent of total assets.

Q1 FY26 is expected to be the final quarter before the merger of PEL and Piramal Finance Limited (PFL), which is anticipated to close by September 2025.

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