During the year, the company received about $148 million in deferred consideration from the sale of Piramal Imaging, completed the sale of its Shriram Life Insurance stake for ₹600 crore, secured $350 million in inaugural DFI funding from IFC and ADB.
The company said its assets under management crossed ₹1 lakh crore in FY26, rising 25% year-on-year to ₹1,01,230 crore, while growth AUM increased 33% to ₹98,423 crore. The growth-to-legacy AUM mix improved to 97:03.
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Net Income Margin expanded 14 basis points year-on-year and 23 basis points sequentially to 6.5% in Q4 FY26, aided by portfolio mix and lower borrowing costs. Growth business profit before tax stood at ₹1,560 crore in FY26, while growth business RoAUM improved to 2.1% in Q4 FY26 from 1.8% a year earlier and 1.9% in Q3 FY26. Growth business opex-to-AUM declined to 3.4% in Q4 FY26 from 4.0% a year ago.
Asset Quality
Asset quality remained stable, with gross non-performing assets at 2.3% and net non-performing assets at 1.6%. Net worth stood at ₹28,191 crore, while liquidity remained strong with ₹8,640 crore, or 8% of total assets, held in cash and liquid investments.
Retail AUM grew 33% year-on-year to ₹85,885 crore and accounted for 85% of total AUM. Mortgage AUM rose 32% to ₹57,837 crore, making up 67% of retail AUM and 57% of total AUM. Retail AUM growth remained diversified across product categories, ranging from 19% to 52% year-on-year. Retail disbursements in Q4 FY26 rose 34% to ₹13,101 crore.
Wholesale 2.0 AUM grew 38% year-on-year to ₹12,538 crore, while Q4 FY26 disbursements rose 63% to ₹2,782 crore. The company received repayments, including pre-payments, of ₹2,268 crore during the quarter.
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Retail disbursement yields remained stable at 14.2%, while Wholesale 2.0 effective interest rate stood at 14.4% with an average ticket size of ₹53 crore. Retail opex-to-AUM reduced by about 290 basis points over the last 12 quarters to 3.6%.
Collections efficiency improved during the year, with AI-driven hands-free monthly collections rising nearly tenfold to ₹834 crore per month in Q4 FY26 from ₹84 crore in Q1 FY26. Customer complaints declined nearly 90% over the last three years to 0.3 per 1,000 customers from 2.8 per 1,000 customers.
The company said it has added ₹10,110 crore of assessed tax losses, taking cumulative assessed tax losses to about ₹24,600 crore.
Anand Piramal, Chairman, Piramal Finance Ltd, said, “Crossing ₹1 lakh crore in AUM is an important milestone, but what matters more is the quality and consistency of our progress. Over the past year, we have continued to
rebalance the portfolio towards a retail-led model while improving profitability, maintaining asset quality and strengthening the balance sheet.”
The company said the board recommended a final dividend of ₹11 per equity share of face value ₹2 each, equivalent to 550%, for the financial year ended March 31, 2026. The dividend will be paid or dispatched after the company’s 42nd Annual General Meeting, subject to shareholder approval.
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The board also approved the re-appointment of Suhail Nathani as an independent director for a second term of five consecutive years, effective September 30, 2026, based on the recommendation of the Nomination and Remuneration Committee and subject to shareholder approval.
Shares of Piramal Finance Ltd ended at ₹1,840.70, down by ₹22.85, or 1.23%, on the BSE.
