Conference Call with Tata Capital Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Finance company Tata Capital announced Q3FY26 results Assets under management grew by 26% YoY to Rs 2,34,114 crore as on December 31, 2025, from Rs 1,86,404 crore as on December 31, 2024. Net total income grew by 33% YoY to Rs 3,594 crore in Q3FY26 from Rs 2,711 crore in Q3FY25. Annualized operating expense on average net loan book improved to 2.3% in Q3FY26 from 2.4% in Q3FY25. Cost to income ratio stood at 35.7% in Q3FY26 vs 40.1% in Q3FY25. Annualized credit cost was 1.0% in Q3FY26 vs 1.1% in Q2FY26. PAT (excluding non-recurring items) grew by 39% YoY to Rs 1,285 crore in Q3FY26 from Rs 922 crore in Q3FY25. Including such items, PAT grew by 36% YoY. Annualized ROA at 2.3% in Q3FY26 vs 2.0% in Q3FY25. Annualized ROE at 14.3% in Q3FY26 vs 14.1% in Q3FY25. Gross stage 3 stood at 1.6% as of December 31, 2025. Net stage 3 stood at 0.6% as of December 31, 2025. Provision coverage ratio stood at 64.5% as of December 31, 2025. Rajiv Sabharwal, Managing Director & CEO, Tata Capital, said, “We witnessed sustained business momentum in Q3FY26, with broad-based growth across products. Excluding Motor Finance, AUM grew 26% YoY to Rs 2,34,114 crore, and comparable PAT increased by 39% year-on-year to Rs 1,285 crore for Q3FY26. Credit quality continued to remain robust, with early leading indicators reflecting stable portfolio performance across segments. Unsecured retail disbursements, which were moderated earlier as a prudent risk measure, have seen a gradual uptick, with slippages coming down. Our distribution network and strategic focus on digital and GenAI capabilities, continue to drive operating efficiencies." “In Q3FY26, our AUM grew 7% QoQ and PAT rose 18% to Rs 1,290 crore. Our Motor Finance segment achieved PAT breakeven this quarter, and we remain focused on executing our strategic priorities." "India’s growth outlook remains robust, underpinned by resilient domestic demand, favorable demographics, and strong macroeconomic fundamentals. Recent policy initiatives - such as GST rationalization, tax relief measures, repo rate cuts, and accommodative liquidity policies - are expected to further stimulate consumption and economic activity. We are well-positioned to leverage these tailwinds, contribute to India’s long-term growth, and deliver sustainable value for all stakeholders." Result PDF