Bajaj Finserv Ltd is the holding company for the various financial services businesses under the Bajaj group. In 2024, Bajaj Finserv's revenue was 1.32 trillion, an increase of 20.62% compared to the previous year, with earnings of 88.72 billion, an increase of 8.89%. Jefferies has initiated coverage on Bajaj Finserv with a buy rating and a target price of ₹2,420, citing strong structural growth prospects across the group's financial businesses.
Cyborg Score Rationale
Past 10 year's financial track record analysis indicates that Bajaj Finserv Ltd is a good quality company with valuation ratios currently in the fair zone. The company demonstrates solid growth momentum with strong subsidiary performance in insurance and lending, though valuation appears elevated at 36+ P/E ratio.
Top Insights
Q1 FY26 consolidated net profit jumped 26.60% to Rs 5,329.17 crore on 12.61% increase in total income to Rs 35,451.34 crore over Q1 FY25.
Diversified product suite spanning personal, business, home, and commercial loans, insurance products across life, health, motor, and travel, plus investment and wealth management solutions.
Market cap of 3,24,676 crore has grown 16.2% in 1 year with promoter holding of 58.8%.
Strong structural growth momentum in insurance segments with expanding distribution and digital capabilities
Named Competitors
HDFC Bank — Leading private sector bank with insurance and wealth solutions
ICICI Bank — Diversified banking and insurance services provider
Axis Bank — Private sector bank with insurance and lending services
SBI — India's largest public sector bank with comprehensive financial services
Recent Developments
(February 2026) Allotment of 50,000 secured NCDs totaling Rs 500 crore with 7.31% coupon and 729-day tenor
(February 2026) Q3 FY26 earnings announced with accelerated provision of INR 1,406cr and BHFL sale gain of INR 1,416cr
(January 2026) Analyst initiation with buy rating and target price of ₹2,420 from Jefferies
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