Press Release

19th October, 2026 BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Wing, Exchange Plaza, 5th Floor, Rotunda Building, P.J. Towers, Plot No. C/1, G – Block, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 BSE Scrip Code: 544597 NSE Symbol: PIRAMALFIN Sub.: Press Release – Unaudited Financial Results (Standalone & Consolidated) for the quarter and half-year ended 30th September, 2026 Dear Sir/Madam, Further to our intimation made earlier with regard to Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter and half-year ended 30th September, 2026 (‘Financial Results’), please find enclosed herewith the Press Release on the Financial Results. The above information is also available on the website of the Company at www.piramalfinance.com. Request you to please take the above on record. Thanking you. Yours faithfully, For Piramal Finance Limited (Formerly known as Piramal Capital & Housing Finance Limited) Bipin Singh Company Secretary Encl.: As above PRESS RELEASE Piramal Finance reports PAT of ₹ 545 crore in Q2 FY2027, up 67% yoy Successfully raises ₹ 3,850 crore to strengthen capital base and support retail-led growth Mumbai, India | October 19, 2026: Piramal Finance Limited (‘Piramal Fin’), one of India’s leading Non- Banking Financial Companies (NBFCs), reported Profit After Tax (PAT) of ₹ 545 Cr, up 67% year-on-year (yoy), for the second quarter ended September 30, 2026. With this, H1 FY2027 PAT stands at ₹ 1,006 Cr, up 67% year-on-year (yoy). Assets Under Management (AUM) increased 24% yoy to ₹ 1,13,112 Cr, driven by 30% yoy increase in Growth AUM, which excludes the discontinued legacy business. Retail disbursements increased 34% yoy to ₹ 14,646 Cr, reflecting sustained customer demand and continued business momentum. The Company's nationwide footprint expanded to 838 branches across 621 cities in 25 states, while its customer franchise grew 26% yoy to 6.5 million, further strengthening its presence across India. The Company completed an equity capital raise of ₹ 3,850 crore, comprising a QIP of ₹ 2,100 crore and a preferential allotment of ₹ 1,750 crore of warrants to the promoter group, strengthening its capital base to support future retail-led growth. Today, the company also announced the appointment of Mr. Dinesh Kumar Khara, former Chairman of the State Bank of India (SBI), as an Independent Director for a five-year term. With a distinguished career of nearly four decades, his experience, judgement and deep understanding of financial services will be invaluable, and the company looks forward to his counsel and guidance. Speaking on the performance, Anand Piramal, Chairman, Piramal Finance Limited, said, "Q2 marks another quarter of consistent performance across growth, profitability and predictability, with our Growth AUM increasing 30% yoy. We are encouraged by the confidence shown in us through our first capital raise as Piramal Finance, including strong participation from domestic and global investors. This quarter also marks five years since the DHFL merger, an important milestone in our transformation into a diversified, retail-led financial institution serving around 6.5 million customers across Bharat. We are grateful for their trust and recognise the responsibility that comes with this scale. As we grow, our focus remains on expanding responsible access to formal credit, combining our physical network with technology and AI to serve customers better. We remain committed to delivering sustained, profitable growth and building a strong and sustainable institution for the long term.” Total AUM Consolidated PAT +24% YoY +67% YoY In ₹ Cr In ₹ Cr 1,13,112 545 1,06,940 91,447 461 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Growth business Opex to AUM Growth business RoAUM -33 bps YoY +34 bps YoY Retail AUM Wholesale AUM +30% YoY +24% YoY In ₹ Cr In ₹ Cr Consolidated Highlights ▪ AUM up 24% yoy to ₹ 1,13,112 Cr. o Retail AUM up 30% yoy at ₹ 97,462 Cr. o Wholesale AUM up 24% yoy at ₹ 13,978 Cr. ▪ PAT up 67% yoy at ₹ 545 Cr. o Net Income Margin expanded by 35 bps yoy to 6.5% and stable QoQ. o Q2FY27 Cost of Borrowing stable QoQ at 8.79%. Since our rating upgrade in FY26, our incremental cost of long-term debt has declined to 8.46% in H1 FY27 vs 8.67% in H2 FY26. o Cost-to-Income stood at 52.1%, vs 61.2% in Q2 FY26. ▪ Growth business RoAUM* improved to 2.0%, vs 1.7% in Q2 FY26. o Growth business Opex to AUM* declined to 3.2%, vs 3.6% in Q2 FY26. o Growth business Credit Cost* stable at 1.5%. o Growth business Profit Before Tax* of ₹ 538 Cr. ▪ Asset quality remained stable, with GNPA at 2.4% and NNPA at 1.7%. ▪ Net worth at ₹ 31,180 Cr with strong liquidity. o Cash & equivalents of ₹ 6,899 Cr (6% of assets) o AUM-to-Equity at 3.6x and Average LCR of 442%. ▪ Moody’s Ratings upgrades rating to ‘Ba2’ from ‘Ba3’ - Outlook ‘Stable’. 3 .6 % Q 2 F Y 2 6 7 4 ,7 0 4 Q 2 F Y 2 6 3 .3 % Q 1 F Y 2 7 9 1 ,2 4 9 Q 1 F Y 2 7 3 .2 % Q 2 F Y 2 7 9 7 ,4 6 2 Q 2 F Y 2 7 Y 2 6 Q 1 .9 Y 2 7 Q Y 2 7 13,978 13,238 11,295 Q2 FY26 Q1 FY27 Q2 FY27 Business Highlights Growth Retail Lending ▪ AUM o Retail AUM grew 30% yoy to ₹ 97,462 Cr, now 86% of Total AUM. o Mortgage2 AUM grew 27% yoy to ₹ 64,650 Cr, forming 66% of Retail AUM and 57% of Total AUM. o Within mortgage book, mass-affluent HL and larger ticket LAP Plus have been growing at a faster rate. o Q2 FY27 Disbursements grew 34% yoy to ₹ 14,646 Cr. ▪ Scale and Reach o 838 branches across 621 cities in 25 states. o Customer franchise expanded 26% yoy to 6.5 mn. Wholesale Lending ▪ Wholesale 2.0 AUM grew 24% yoy to ₹ 13,978 Cr. ▪ Q2 FY27 Disbursements grew 28% yoy to ₹ 2,615 Cr. ▪ Repayments (including pre-payments) of ₹ 1,889 Cr received during Q2 FY27. Profitability ▪ Retail disbursement yields remained stable at 14.2%. ▪ Wholesale Effective Interest Rate (EIR) at 14.1% with an average ticket size of ₹ 55 Cr. ▪ Retail Opex-to-AUM declined 41 bps yoy to 3.48%, a ~300 bps reduction in 14 quarters. Asset Quality ▪ Retail 90+ DPD3 stood at 0.7%. ▪ Wholesale repayments at 72% of disbursements in Q2 FY27, reflecting strong portfolio performance. Liabilities ▪ Q2FY27 Cost of Borrowing stable QoQ at 8.79%. Since our rating upgrade in FY26, our incremental cost of long-term debt has declined to 8.46% in H1 FY27 vs 8.67% in H2 FY26. ▪ Continued diversification of borrowing mix across mutual funds, securitization and international borrowings. ▪ ALM remains well-matched with positive gaps across all buckets. Piramal.ai – Delivering measurable impact at scale Piramal Finance continues to scale GenAI adoption through Piramal.ai, embedding AI across core business operations and moving beyond pilots to day-to-day integration. This is enhancing productivity, customer experience and decision-making across the organisation. AI adoption and engineering productivity strengthened. GenAI usage grew over 5x yoy, with token consumption rising to 476 bn in Q2 FY27 from 91 bn in Q2 FY26. AI now generates 57% of the overall code, reflecting deeper integration into engineering workflows. Operating leverage and frontline productivity strengthened. Disbursement per branch increased 17% yoy and disbursement per employee rose 10% yoy. AI-enabled hiring supported interviews of over 2,600 relationship managers, helping accelerate recruitment and frontline expansion. Business growth and stakeholder engagement advanced. Voice AI enabled ₹ 102 crore in cross-sell disbursements, while ARYA, the AI-enabled work assistant, resolved ~5.6 lakh queries, up 45% yoy. The Company also launched PIA (Piramal Investor Assistant), an AI-powered investor relations agent that enables investors to analyse financial performance across quarters and access management commentary from past earnings calls. Underwriting and fraud risk management enhanced. AI analysed ~1.94 lakh bank statements and processed 2.13 lakh images to support credit decisions. Document frau [Showing first 8,000 characters — download PDF for full document]