Bajaj Finserv – the holding company of Bajaj group’s financial services business – has laid out plans for the next five years.
During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at Rs 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 non-resident 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 Rs 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.
In March 2025, Allianz signed a share-purchase agreement with Bajaj Finserv to sell its 26 per cent stake each in the insurance joint ventures — Bajaj Allianz Life and Bajaj Allianz General Insurance — for Rs 24,180 crore.
The transaction is expected to be completed by the early next calendar year.
He added, “It will also give us the flexibility to pursue some of our aspirations which we couldn’t in a partnership structure, such as focus on NRIs through GIFT City, and a few other lines such as pensions through pensions fund management. We will start activating all of these on completion in the early part of next calendar year.”
He talked about a 4-5 year window for listing the insurance arms.
“We believe there are a number of changes in the coming years, whether it through Ind-AS (accounting standards), risk-based solvency and composite licenses.
"Each of these can open significant possibilities of how businesses are run,” he said on the insurance businesses, ahead of the exit of Allianz from the joint venture.
“We will need to evaluate these, and hence, in our mind, 4-5 years is a reasonable window to think of a possible listing of these companies – could be a little earlier or later.
"We don’t need the capital. But given the size of these businesses, I believe listing will take transparency to the next level,” Bajaj said.
On the lending side, Bajaj Finance will adopt a three-pronged strategy for the next 5 years, focused on customer centricity, technology and low tolerance to risk.
Bajaj Finance aims to be a customer-centric company, from a product-focussed one by serving all financial needs of the customer.
It also aims to be a technology leader in financial services in India, to achieve goals and drive innovation.
It is the ability to anticipate trends, envision transformation, and reshape business models to make life simpler for consumers.
“This will lead to 100 million loans, 160-180 million App installs, 3.5-4.5 billion web visitors, 30 per cent digital contribution, 31 per cent opex-to-NIM and 90 per cent reduction in operations and service,” said Rajeev Jain, vice-chairman & MD, Bajaj Finance.
Bajaj Finance’s strategy is to be a technology leader in financial services with increasing use of artificial intelligence (AI).
It aims to be the lowest-risk company in India, having low tolerance across all dimensions of risk — credit risk, operational risk, fraud risk, compliance risk, market risk, technology risk and reputation risk, while maintaining sustainable growth and profitability.
Bajaj Finserv Health – the health management platform – is eying to expand international operations, Bajaj said.
“With business building to 1.7 million healthcare claim transactions a month and tie-ups with 10 insurers – there is clear profitability in sight by FY28.
"To scale further, we are looking at several strategic partnerships,” he said on Finserv Health.
