Guidance ledger · Q4 FY26

Bajaj Finance Ltd BAJFINANCE

3 revisions on record · 1 lowered · 1 raised — the strikethrough is what management used to say

gives specific guidance · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered FY27 credit cost Q3 FY26 → Q4 FY26

~~165 to 175 basis points (Q3FY26)~~ → 145 to 160 basis points (revised metric, Q4FY26)

“your assessment is correct versus 165 to 175 that Rajeev -- that becomes 145 to 170 because of the change in the presentation.”

↑ raised AUM growth corridor Q2 FY26 → Q4 FY26

~~22- 23% for FY26 (Q2FY26 walk-back from 24-25%)~~ → 20% to 24% / 22% to 24% (FY27)

“In terms of AUM, we're confident of a 20% to 24% AUM growth, aided by new businesses that we've launched in the last few years as they begin to scale.”

→ narrowed MSME growth recovery timing Q2 FY26 → Q4 FY26

~~10-12% FY26 only (Q2FY26)~~ → Double-digit growth in Q2-Q3 FY27 (forward thaw)

“We expect that it should come back to double -digit growth or the company growth momentum between Q2 and Q3 of FY'27.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.