{"id":8144,"date":"2020-07-22T03:02:31","date_gmt":"2020-07-22T03:02:31","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=8144"},"modified":"2020-07-22T03:02:31","modified_gmt":"2020-07-22T03:02:31","slug":"bajaj-finance-aum-likely-to-grow-10-12-in-fy21","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=8144","title":{"rendered":"Bajaj Finance AUM likely to grow 10-12% in FY21"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2031365 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2.jpg\" alt=\"Bajaj Finance AUM,\u00a0Bajaj Finance AUM, bajaj finance\u00a0flexi loan product,\u00a0BFL Q1 net,\u00a0Bajaj Finserv profit\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2031365 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2.jpg\" alt=\"Bajaj Finance AUM,\u00a0Bajaj Finance AUM, bajaj finance\u00a0flexi loan product,\u00a0BFL Q1 net,\u00a0Bajaj Finserv profit\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2031365 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2.jpg\" alt=\"Bajaj Finance AUM,\u00a0Bajaj Finance AUM, bajaj finance\u00a0flexi loan product,\u00a0BFL Q1 net,\u00a0Bajaj Finserv profit\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/bajaj-finance-2-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">The overall provisions for Covid-19 as on June 30 was at Rs 2,350 crore and is now at 10.8% of consolidated moratorium book.<\/span><\/figure>\n<\/div>\n<p><a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/bajaj-finance-ltd-stock-price\/\" rel=\"noopener noreferrer\">Bajaj Finance<\/a> is expecting to grow its assets under management (AUM) by 10-12% in the current financial year. The company\u2019s management said during a conference call that 75 cities would revert to pre-Covid-19 volumes by October. The company has registered 7% year-on-year (y-o-y) growth in AUM during June quarter. The moratorium book reduced to 15.7% of AUM as of 30 June 2020 from 27.1% of AUM, as of 30 April 2020. Rajeev Jain, managing director (MD), Bajaj Finance, said that the company, however, expects credit cost to increase by 100-110% as against earlier estimates of 80-90% increase in FY21. Bajaj Finance has also focused on flexi loan product amid Covid-19 stress.<\/p>\n<p>\u201cGiven the lockdown, the company decided to convert some of its existing customers with no overdue and good repayment track record from term loan to a flexi loan for a switch fee,\u201d said Rajeev Jain. The flexi product provides the customers with flexibility to drawdown when they need and prepay when they want digitally. \u201cIt also has an added feature of only interest servicing for first 1-2 years, he further said. The company has converted `8,600 crore of term loans into flexi loans in June quarter. As of March 31st, the existing book under flexi stood at `36,846 crore.<br \/>\u201cThe company has revised its margin profile in certain businesses to protect its overall profitability,\u201d Jain said. On mortgage business, the company is facing significant pricing pressure and is repivoting its mix marginally for short to medium term, he added.<\/p>\n<p><strong>BFL Q1 net dips 19%<\/strong><\/p>\n<p>Bajaj Finance on Tuesday reported a 19% year-on-year (YoY) drop in its net profit to Rs 962 crore in the June quarter, due to higher contingency provisioning of Rs 1,450 crore for the Covid pandemic and impact of lockdown on its business. The overall provisions for Covid-19 as on June 30 was at Rs 2,350 crore and is now at 10.8% of consolidated moratorium book. This along with expected credit loss provisioning of Rs 623 crore takes over all provisioning coverage to 13.7%.<\/p>\n<p><strong><a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/bajaj-finserv-ltd-stock-price\/\" rel=\"noopener noreferrer\">Bajaj Finserv<\/a> profit grows 44%<\/strong><\/p>\n<p>Bajaj Finserv reported a 44% rise in consolidated net profit at Rs 1, 215 crore for the June 2020 quarter. Bajaj Finserv\u2019s consolidated income increased by 16% to Rs14,192 crore. There was a degrowth in the finance and insurance business because of the lockdown during Q1FY21, the company said.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/bajaj-finance-aum-likely-to-grow-10-12-in-fy21\/2031358\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The overall provisions for Covid-19 as on June 30 was at Rs 2,350 crore and is now at 10.8% of consolidated moratorium book. Bajaj Finance is expecting to grow its assets under management (AUM) by 10-12% in the current financial year. The company\u2019s management said during a conference call that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8145,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-8144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/bajaj-finance-2.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8144"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/8145"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}