Performance Highlights (H1FY27)

  • AUM: ₹438,785 mn, up 62% YoY from ₹270,400 mn
  • Net Interest Income: ₹15,488 mn, up 74% YoY from ₹8,920 mn
  • Non Interest Income: ₹4,871 mn, up 31% YoY from ₹3,727 mn
  • Operating Profit: ₹11,683 mn, up 78% YoY from ₹6,567 mn
  • PAT: ₹7,717 mn, up 88% YoY from ₹4,109 mn
  • Cost-Income Ratio: 42.6% vs 48.1% in H1FY26 (improvement of 546 bps)
  • NNPA: 0.8% vs 0.7% in H1FY26
  • RoAE: 20.4% vs 15.0% in H1FY26
  • RoAA: 4.2% vs 3.6% in H1FY26

Quarterly Financial Performance (Q2FY27)

  • Interest earned: ₹14,646 mn, up 65% YoY
  • Interest expense: ₹6,521 mn, up 61% YoY
  • Net interest income: ₹8,125 mn, up 69% YoY
  • Non-interest income: ₹2,730 mn, up 34% YoY (includes Net car loan fees ₹339 mn, Co-lending income ₹720 mn, Insurance distribution ₹506 mn, Treasury ₹210 mn, Other operating income ₹954 mn)
  • Operating expenses: ₹4,492 mn, up 33% YoY (Employee cost ₹3,095 mn, Other expenses ₹1,397 mn)
  • Operating profit: ₹6,363 mn, up 84% YoY
  • ECL provisions: ₹212 mn, down 27% YoY
  • Write-offs: ₹582 mn, up significantly from ₹23 mn YoY
  • Profit before tax: ₹5,570 mn, up 77% YoY
  • Tax: ₹1,386 mn at implied tax rate of 24.9%
  • Profit after tax: ₹4,183 mn, up 77% YoY

Business Segment Updates

AUM Composition:

  • MSME, Gold, and Housing AUM values include co-lending and Directly Assigned AUM
  • Retail AUM showing comprehensive growth across all segments

Gold Loan Business:

  • Steady branch expansion and strong disbursal momentum
  • Collateral weight in custody shown in tonnes
  • Geographical distribution and Loan to Value metrics provided for incremental disbursals

MSME Business:

  • Well-diversified granular book across geographies
  • Average ticket size for incremental sanctions provided
  • Live accounts and geographical distribution detailed

Housing Finance:

  • Expanding customer base with diversified, self-employed focused portfolio
  • Average ticket size for incremental disbursals provided

Construction Finance:

  • Robust pipeline of new accounts accelerating AUM expansion
  • Geographical distribution provided

Insurance Distribution:

  • Asset light income stream through embedded products
  • Cross-selling of Health and Motor Insurance in tier II, III, IV cities and rural areas
  • WhatsApp links with 2-click buying journey

Car Loan Origination:

  • Pan-India presence with robust partnerships
  • 27% YoY increase in loan origination value for the quarter
  • Consistently rising loan originations by value and volume
  • Average Ticket Size: ₹mn (Originations by Value/Originations by Volume)

Branch Network Expansion

  • Total branches: 1,609 in Q2FY27 vs 1,433 in Q1FY27
  • Non-Gold Business (MSME, Housing Finance, Construction Finance, Car Loan Distribution): 455 branches across 20 States and UTs
  • Gold Loan network: 1,154 branches across 17 states and UTs
  • Construction Finance: 3 dedicated branches (Bengaluru, Hyderabad, Ahmedabad)
  • Car Loan distribution locations: 821 consolidated into 19 branches

Segmental Yields

Robust yields sustained across business segments:

  • Construction Finance: percentage provided
  • Gold Loans: percentage provided
  • MSME: percentage provided
  • Housing Finance: percentage provided

Liability and Funding Profile

  • Funding Profile: Banks, Other Financial Institutions, NHB, Market Borrowings, Others, Co-lending/DA
  • Consolidated Borrowings: New credit facilities sanctioned for Q2FY27 stood at ₹44,276 mn
  • Total lender base: 40+
  • Undrawn limits: ₹3,621 mn available

Liquidity Position (30th Sep 2026)

  • Cash and Bank Balances: ₹27,701 mn (CGCL standalone: ₹23,392 mn, CGHFL: ₹4,208 mn, Other Subsidiaries: ₹101 mn)
  • Investment in Liquid Mutual Funds, fixed deposits or corporate bonds: ₹18,697 mn
  • Undrawn Bank Lines: ₹14,171 mn
  • Net Available cash or cash equivalents: ₹60,569 mn across entities

Asset Quality

ECL Analysis (Q2FY27):

  • Stage 1 - Gross: ₹318,879 mn with ECL Provisions of 0.6%
  • Stage 2 - Gross: ₹24,723 mn with ECL Provisions of 5.4%
  • Stage 3 - Gross: ₹4,337 mn with ECL Provisions of 33.3%
  • Total Gross: ₹347,938 mn
  • Total ECL Provisions: ₹4,634 mn
  • Gross NPA: 1.2%
  • Net NPA: 0.8%

Segmental NPAs: Detailed breakdown provided for Gold Loan, Housing Finance, and Construction Finance segments

Balance Sheet (Q2FY27)

  • Paid-up Equity: ₹962 mn (unchanged YoY and QoQ)
  • Reserves and Surplus: ₹78,614 mn, up 20% YoY
  • Total Equity: ₹79,576 mn, up 19% YoY
  • Bank Borrowings: ₹254,955 mn, up 61% YoY
  • Debt Securities: ₹49,935 mn, up 425% YoY
  • Total Assets: ₹400,395 mn, up 64% YoY
  • Assets under Financing Activities: ₹340,793 mn, up 64% YoY

Strategic Outlook and Targets

  • Target AUM: ₹650 bn by FY28 and ₹1,250 bn+ by FY31 (28-30% CAGR)
  • Target RoAE: 19.0% - 21.0%
  • Target RoAA: 4.2% - 4.7%
  • Key initiatives: Diversify product offerings, geographic expansion (750-800 new branches over next 2 years), leverage technology & analytics, drive fee income and cross-selling, diversify borrowings

Management and Governance

  • Experienced and stable management team with proven track record
  • Strong corporate governance with 6 Independent Board of Directors
  • 9 board committees for oversight (Risk, Credit, Asset Liability, Info Security, Audit, CSR, ESG, Stakeholder relationship, Nomination & Remuneration)

ESG Performance

  • Best-in-class ESG scores: SES ESG (75 B+), NSE sustainability (73), CRISIL ESG (64 Strong), S&P Global CSA (72 vs industry average 29)
  • Key highlights: 23% reduction in e-waste, 15,519 beneficiaries reached, 100% DEI training for senior management, zero cases of discrimination and harassment

Brand Building

  • Brand Ambassadors: Nayanthara and Pankaj Tripathi
  • South India campaign results: 141 Mn+ reach, 93.8% positive visibility impact, +173% Gold Loan search growth