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Piramal Enterprises Q1FY26 net profit rises 52%; CFO Goyal resigns
The retail assets under management (AUM) climbed 37 per cent on a yearly basis to ₹69,005 crore, while mortgage AUM grew to ₹47,101 crore, marking a 38 per cent rise. Quarterly disbursements rose 28 per cent YoY to ₹8,718 crore.
'From a profit viewpoint, net profit was substantially up, and even margins expanded by 10 basis points (bps). Operating expenses (Opex) to AUM, an important metric in our business, showed continued efficiency and declined further this quarter,' said Jairam Sridharan, Managing Director, Piramal Finance.
AUM of the legacy book declined 51 per cent YoY to ₹6,327 crore, representing an 85 per cent reduction since FY22.
'We have an old legacy book, which we have been working on reducing. That legacy book is now down to 7 per cent of our total book. So, 93 per cent of the book is now the new, so-called growth book, which has shown growth of 38 per cent YoY and is now a little under ₹80,000 crore,' said Sridharan.
Regarding asset quality, the gross non-performing asset (GNPA) ratio stood at 2.8 per cent, and the net NPA ratio was at 2 per cent.
Q1FY26 is likely the last quarter before the merger of Piramal Enterprises with Piramal Finance, expected to be completed by September 2025.
Upma Goyal, who served as the Chief Financial Officer of Piramal Enterprises, has resigned to pursue aspirations outside of the group, the company informed the exchanges. Once PEL merges with Piramal Finance, the current CFO of Piramal Finance, Vikash Singla, will continue as the CFO of the merged entity.
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