Piramal Finance Ltd reported a 67% year-on-year (YoY) increase in profit after tax (PAT) to ₹545 crore for the second quarter ended September 30, 2026, supported by growth in assets under management (AUM), retail disbursements and customer acquisition.
The non-banking financial company’s AUM rose 24% YoY to ₹1,13,112 crore, while its Growth AUM, excluding the discontinued legacy business, increased 30%.
Retail disbursements grew 34% YoY to ₹14,646 crore, reflecting sustained customer demand and continued business momentum.
The company expanded its distribution network to 838 branches across 621 cities in 25 states. Its customer base increased 26% YoY to 6.5 million, strengthening its presence across India.
₹3,850 crore capital raise strengthens growth plans
Piramal Finance completed an equity capital raise of ₹3,850 crore, comprising a qualified institutional placement (QIP) of ₹2,100 crore and a preferential allotment of ₹1,750 crore through warrants to the promoter group.
The capital infusion is expected to strengthen the company’s balance sheet and support its retail-focused growth strategy.
The company also appointed Dinesh Kumar Khara, former chairman of State Bank of India (SBI), as an independent director for a five-year term. His nearly four decades of experience in financial services are expected to strengthen the board’s oversight and strategic guidance.
Piramal Finance Chairman Anand Piramal said the September quarter marked another period of consistent performance across growth, profitability and predictability, with Growth AUM increasing 30% YoY.
He said the company’s first capital raise under the Piramal Finance identity had attracted strong participation from domestic and global investors.
The quarter also marked five years since the merger with Dewan Housing Finance Corporation (DHFL), which Piramal said represented an important milestone in the company’s transformation into a diversified, retail-led financial institution serving around 6.5 million customers.
The company will continue to focus on expanding access to formal credit by combining its physical distribution network with technology and artificial intelligence (AI).
AI adoption gains traction across operations
Piramal Finance is scaling the use of generative AI through Piramal.ai, embedding the technology into core business operations to improve productivity, customer experience and decision-making.
GenAI usage increased more than fivefold YoY, with token consumption rising to 476 billion in Q2 FY27 from 91 billion in the corresponding quarter last year. AI now generates 57% of the company’s overall code, indicating deeper integration into software engineering and development workflows.
The company also reported improvements in operating productivity. Disbursements per branch increased 17% YoY, while disbursements per employee rose 10%.
AI-enabled recruitment supported interviews of more than 2,600 relationship managers, helping accelerate hiring and frontline expansion.
Voice AI drives ₹102 crore in cross-selling
AI applications are also contributing to business generation and customer engagement.
Voice AI enabled ₹102 crore in cross-selling disbursements during the quarter. Meanwhile, ARYA, the company’s AI-enabled work assistant, resolved 5.6 lakh queries, up 45% YoY.
Piramal Finance also launched PIA (Piramal Investor Assistant), an AI-powered investor relations tool that allows investors to analyse financial performance across quarters and access management commentary from previous earnings calls.
The company’s expanding use of AI comes alongside growth in its retail lending franchise, with technology increasingly integrated into customer acquisition, employee productivity, investor engagement and operational processes.
With higher retail disbursements, an expanding customer base and fresh equity capital, Piramal Finance is positioning itself for sustained growth while increasing the use of technology to improve operating efficiency.