Investor Presentation

30th 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.: Intimation of Schedule of Analyst/Institutional Investor Meeting and Investor Presentation under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) Dear Sir/Madam, We wish to inform you that pursuant to Regulation 30(6) of the SEBI Listing Regulations, the schedule of Analyst/Institutional Investor Meeting is as under: Date Particulars Interaction with Venue 4th and 5th November 2026 Singapore Roadshow (NDR) Investor Group Singapore Note: Date is subject to change. Changes may happen due to exigencies on the part of Investors / Company. Further, the investor presentation to be made at above mentioned conference is enclosed herewith. Kindly 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 Piramal Finance Limited Results Presentation Q2 and H1 FY27 19 October 2026 Table of contents A Our blueprint for value creation 03 B Q2 FY27 Results Summary 08 D Liabilities 15 E Retail lending 19 F Wholesale lending 35 G Financials 40 Appendix 47 Our blueprint for value creation 1 2 3 G P P rowth rofitability redictability 2x AUM in ~3 years RoAUM >3% Stable Risk Steady Earnings ₹ 1.5 lac Cr AUM by Mar-28 With AUM-to-equity of 4.5-5.0x by Mar-28 Build a future-proof, AI-native company Long range goals as disclosed in August 2023 1 Our Growth AUM are scaling up at 30% YoY F Y 2 5 F Y 2 6 o w t h t a l A 3 2 % 2 5 % , Y o Legacy AUM down 32% QoQ (down 69% YoY) to ₹1,673 Cr (1.5% of Total AUM) Note: (*) Growth AUM include Retail and Wholesale AUM and exclude the discontinued Legacy business, Growth AUM are now 98.5% of total AUM. 2 Profitability – we are progressing towards our long-range goals 1. Growth business RoAUM 2. AUM-to-equity , annualized Excluding POCI# recovery related profits FY25 FY26 FY27 3.25% Long range goal* Long range goal* 3.00% 2.75% Q4 FY27 target as 2.5% Equity capital disclosed at end-FY26 raise in Q2FY27 2.50% 2.25% 2.1% 3.6 3.6 2.0% 3.5 2.00% 1.8% 1.8% 3.5 3.3 1.75% 1.6% 1.5% 3.0 1.50% 1.7% 3.0 2.8 1.25% 2.6 2.6 2.6 1.00% 1.1% 1.1% 2.5 2.3 1.0% 2.1 0.75% 0.50% 0.25% 0.00% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 FY24 FY25 FY26 FY27 Note: (*) Long range goals as disclosed in August 2023; (#) POCI (purchased or originated credit impaired) recoveries represent recoveries from the acquired stressed retail book from DHFL 3 Predictability – Profits are growing steadily with stable risk Stable consol profits in last 11 quarters Consol. PAT, in ₹ Cr. Steady risk 90+ DPD in Retail 8,155 3,545 509 502 137 163 102 % 1.1 % 1.1 -196 % 7 .0 % 7 .0 % 8 .0 % 7 .0 % 6 .0 % 6 .0 % 6 .0 % 7 .0 % 8 .0 % 8 .0 8 .0 % 8 .0 % 8 .0 % 6 .0 % 7 .0 % 7 .0 -1,536 -2,378 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY23 FY24 FY25 FY26 FY27 FY23 FY24 FY25 FY26 FY27 Wholesale Stage 2+3 assets <0.1% 4 Piramal.ai – Use of Gen-AI has grown more than 5x in the last year 1. Underwrite Better 2. Drive Growth Vintage Risk (30+ at 6MOB) - retail Consistent retail disbursement growth YoY % # Bn X-axis represents quarter of origination 3. Improve CX 4. Enhance Productivity 5. Build More Customer complaints in retail Disb. per branch Disb. per employee (Per 1,000 customers) Trailing 12 months, ₹ Cr 2.8 2.8 2.6 2.5 2.1 93 3.0 80 57% of overall code 0.4 0.3 0.3 0.4 0.4 0.4 0.3 0.3 0.2 now written by AI 3 3 4 4 4 4 5 5 5 5 6 6 6 6 7 7 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y 2 Y F F F F F F F F F F F F F F F F 3 Q 4 Q 1Q 2 Q 3 Q 4 Q 1Q 2 Q 3 Q 4 Q 1Q 2 Q 3 Q 4 Q 1Q 2 Q Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 7 1 8 ,3 F Y 2 3 2 ,9 F Y 2 Impact of AI across five key business areas Token volume 16% Total SLM and LLM token usage 15 23 32 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY25 FY26 FY27 %6.5 22YF3Q %7.4 22YF4Q %7.3 32YF1Q %3.2 32YF2Q %4.2 32YF3Q %8.1 32YF4Q %7.1 42YF1Q %3.1 42YF2Q %3.1 42YF3Q %1.1 42YF4Q %1.1 52YF1Q %0.1 52YF2Q %8.0 52YF3Q %6.0 52YF4Q %9.0 62YF1Q %7.0 62YF2Q %7.0 62YF3Q %8.0 62YF4Q Q2 FY27 Results Summary Q2 FY27 Summary – Continued momentum on AUM and profit growth PAT up 67% YoY Growth AUM up 30% YoY 2.0% Growth book RoAUM 1 PAT ₹545 Cr, up 67% YoY | RoAUM 2.0% (Growth business), vs 1.7% in Q2 FY26 y 2 Total Capital raise of ₹3,850 Cr | QIP of ₹2,100 Cr + preferential allotment of warrants of ₹1,750 crore to the promoter group s 3 AUM ₹1,13,112 Cr, up 24% YoY | Retail AUM ₹97,462 Cr, up 30% YoY Y 4 NIM 6.5%, up 35bps YoY and stable QoQ | COB: H1 FY27 incremental cost of long-term borrowing at 8.46% vs 8.67% in H2 FY26 5 Retail opex-to-AUM 3.48%, continues to decline – down 41bps YoY | Company cost-to-income 52.1%, vs 61.2% in Q2 FY26 6 Stable asset quality: GNPA 2.4% (vs 2.6% in Q2 FY26) and stable Growth business credit cost 1.5% 7 AUM/E 3.6x | Average LCR 442% | Cash & equivalents ₹ 6,899 Cr (6% of assets) Business Snapshot ₹1,13,112 Cr up 24% YoY / 6% QoQ 86 : 14 Retail : Wholesale 6 AUM mix AUM mix 82 : 18 in Sep-25 Sep-26 s t Q2 FY27 la s e lu s ₹545 Cr lo h W e PAT 7 up 67% YoY Q2 FY27 ₹31,180 Cr PBT* ₹538 Cr Net worth Growth business Debt to equity: 2.8x up 57% YoY Q2 FY27 ₹85,802 Cr RoAUM* 2.0% Borrowings Growth business up 20% YoY up 34bps YoY Notes: (*) Pro forma business P&L; (#) Other retail includes gold loans (₹ 65 Cr as of Q2 FY27), SRs (₹ 1,182 Cr as of Q2 FY27) & pass-through certificates (PTC) (₹ 79 Cr as of Q2 FY27) 2 7 % 3 0 % o u s in g lo a n s o a n a g a in s t p ro p e r ty (L A P ) s e d c a r lo a n s o a n a g a in s t s e c u ritie s (L A S ) a la rie d p e rs o n a l lo a n s n s e c u re d b u s in e s s lo a n s u ra l m ic ro lo a n s ig it a l lo a n s t h e r re ta il o rp o ra te m id m a rk e t lo a n s (C e a l e s t a t e e g a c y M M L ) 5 years since DHFL merger in Sept 2021 – A transformational journey Branch network up ~3x Employees count up 3x Growth AUM up 5x In ₹ Cr. 838* ~18,500 1,11,440 ~6,500 3 22,628 r a 14 ~800 4,327 m Pre-merger Post-merger Sep-26 Pre-merger Post-merger Sep-26 Pre-merger Post-merger Sep-26 s DHFL merger Effective Sep-21 Q Built a truly multiproduct franchise since DHFL merger Created P&L value in multiple ways Originally acquired book is now down by 77% Real estate P&L gains of more than ₹3,000 Cr from Particulars Acquired ₹ Cr Residual ₹ Cr CMML recoveries in the DHFL’s stressed book Retail loans ~18,000 ~5,000 Digital loans Rural micro loans Retail off-book ~20,500 ~4,500 (not included in reported AUM) Unsecured business loans 2 O/s assessed carry forward losses of ~₹16,000 Cr Wholesale loans ~2,000 ~20 Salaried personal loans Loans against securities Wholesale SRs ~450 - 10-year fixed rate low-cost borrowings of Real estate Used car loans 3 ~₹19,500 Cr at the time of merger Loan against property Loan against property Wholesale PTC ~250 - Housing loans Housing loans Total ~41,000 ~9,500 Pre-merger Sep-26 11 Notes: (*) Includes 535 Urban branches, 203 Rural branches, and 100 Gold branches Our retail scale-up (along with declining opex and controlled risk) is among the fastest ones in industry 1 We are one of the fastest among retail NBFCs* to grow 2 …while reducing our opex-to-AUM by ~300 bps over last 14 AUM from ₹20k Cr to ₹90k Cr… quarters, and… AUM ₹ k Cr 6.75% 6.5% 6.50% 6.25% Retail 6.00% 5.8%5.8% 90 5.75% 5.5% 5.3% 5.50% 6 5.25% 4.9% / 4 5.00% 4.7% 80 44 .. 57 05% 4.5% 4.3% 4.2% a 4.25% 3.9% m 4.00% 3.8% m 70 3.75% Long range goal 3.59% 3.54%3.48% u 3.50% S 3.25% 25 bps reduction in Opex guidance s 3.00% t 60 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 [Showing first 8,000 characters — download PDF for full document]