Piramal Finance shares surge 4% after profit rises 67% in September quarter

Shares of Piramal Finance, the country's leading non-banking finance company, rose as much as 4.36% to an intraday high of ₹2,033.15 on the BSE on Wednesday, October 21, after company post market hours on Monday reported its September quarter earnings. On the National Stock Exchange, Piramal Finance shares advanced as much as 4.42% to an intraday high of ₹2,035.

Piramal Finance on Monday reported a consolidated net profit of ₹545 crore in the second quarter of current financial year, marking an increase of 67% from ₹327 crore in the same period last year.

Its interest income rose 26% to ₹3,253 crore at the end of September quarter from ₹2,585 crore in the year-ago period.

Piramal Finance's assets under management (AUM) increased 24% year-on-year (YoY) to ₹1,13,112 crore, driven by 30% YoY increase in growth AUM, which excludes the discontinued legacy business.

Retail disbursements increased 34% annually to ₹14,646 crore, reflecting sustained customer demand and continued business momentum. The company's nationwide footprint expanded to 838 branches across 621 cities in 25 states, while its customer franchise grew 26% YoY to 6.5 million, further strengthening its presence across India, Piramal Finance said in a press release.

Retail AUM grew 30% annually to ₹ 97,462 crore, mortgage AUM grew 27% YoY to ₹ 64,650 crore and within mortgage book, mass-affluent home loan (HL) and larger ticket loan against property (LAP) plus have been growing at a faster rate, the company said.

The company also announced the appointment of Dinesh Kumar Khara, former Chairman of the State Bank of India (SBI), as an Independent Director for a five-year term. With a distinguished career of nearly four decades, his experience, judgement and deep understanding of financial services will be invaluable, and the company looks forward to his counsel and guidance, Piramal Finance added.

During the quarter ended September 30, 2026, the holding company completed a Qualified Institutions Placement (QIP) and allotted 99,52,606 equity shares of face value ₹2 each at an issue price of ₹2,110 per equity share, aggregating to ₹2,099.99 crore.

"This quarter also marks five years since the DHFL merger, an important milestone in our transformation into a diversified, retail-led financial institution serving around 6.5 million customers across Bharat. We are grateful for their trust and recognise the responsibility that comes with this scale. As we grow, our focus remains on expanding responsible access to formal credit, combining our physical network with technology and AI to serve customers better. We remain committed to delivering sustained, profitable growth and building a strong and sustainable institution for the long term,” said Anand Piramal, Chairman, Piramal Finance.

The company's asset quality remained stable with gross non-performing assets (NPA) at 2.4% and net NPA at 1.7%.

Credit rating agency Moody's upgraded its rating to BA2 from BA3 with a stable outlook.

As of 12:14 pm, Piramal Finance shares traded 3.91% higher at ₹2,025, outperforming the NIFTY LARGEMIDCAP 250 index which was down 1.3%.