Tata Capital Ltd. · NSE:TATACAP
Tata Capital — Q2 FY2027 Earnings Presentation
57 slides from Tata Capital's earnings presentation, Oct 27, 2026
Slide 1: Q2FY27 Investor Presentation
Q2FY27 Investor Presentation 27 October 2026
Slide 2: Disclaimer
Disclaimer This presentation is being furnished solely for your information and may not be reproduced or redistributed to any other person or used without the express consent of Tata Capital Ltd. (“Company”). The term “Company” shall include its subsidiaries unless repugnant to the context. This pre
Slide 3: Executive Summary – Q2FY27 Performance Update (1/3)
Executive Summary – Q2FY27 Performance Update (1/3) Key Figures Q2FY27 Performance Highlights • Loan book crossed ₹ 3 Lakh Cr milestone ₹ 3,08,030 Cr ₹ 1,660 Cr AUM PAT • Customer franchise at 9.2mn, with ~0.4mn customers added during Q2FY27 26.3% YoY 51.3% YoY • Net AUM grew 26% YoY | Excl. Motor F
Slide 4: Executive Summary – Q2FY27 Performance Update (2/3)
Executive Summary – Q2FY27 Performance Update (2/3) Scale ⚫ AUM at ₹ 3,08,030cr (up 26% YoY | up 6% QoQ). Excluding Motor Finance, AUM at ₹ 2,84,439cr (up 32% YoY | up 7% QoQ) ⚫ Net AUM addition in Q2FY27 ₹ 17,528cr QoQ ⚫ Retail + SME constitute 85.4% of Net AUM ⚫ Unsecured Retail loans form 10.4% o
Slide 5: Executive Summary – Q2FY27 Performance Update (3/3)
Executive Summary – Q2FY27 Performance Update (3/3) Operating efficiency ⚫ Net interest income at ₹ 3,696cr (up 23% YoY) ⚫ Cost to average assets improved to 2.3% (vs. 2.6% in Q2FY26). Cost to income ratio at 35.3% (vs. 39.7% in Q2FY26) ⚫ On-roll employees count stood at 31,655. Manpower grew at 6%
Slide 6: Company Overview
TATA CAPITAL Company Overview
Slide 7: About Tata Capital
About Tata Capital Group Tata Capital is an upper layer NBFC with a 100% owned housing finance subsidiary 85.4% Tata Sons: 78.8% ~₹ 3.1tn Net AUM as of Sep 30, 2026 Retail & SME form 85.4% of Net AUM Non-lending businesses 100% 100% 100% Distribution of Private Wealth Tata Capital Housing Tata Capit
Slide 8: Our Purpose – Responsible Financial Partner Fulfilling India's Aspirations
Our Purpose – Responsible Financial Partner Fulfilling India’s Aspirations Delivering Delight Lead with Trust We go above and beyond to care and make people We respect and reinforce the trust that is placed in happy; We deliver delight to all stakeholders us. We are the partner the country can rely
Slide 9: Our Journey – Building a Diversified Retail and SME Focused Book
Our Journey – Building a Diversified Retail and SME Focused Book Crossed ₹ 3tn mark in terms of loan book Net AUM (₹ bn) Announced acquisition of ~88.6% stake in Yogloans (Entry into Gold Loans) Successfully listed on NSE and BSE in Oct-25 Crossed ₹ 2tn mark in terms of loan book Crossed ₹ 1tn TMFL
Slide 10: Our Key Strengths
Our Key Strengths 3rd largest diversified Prudent risk culture and NBFC in India with a strong underwriting comprehensive product driving stable asset suite quality Omni-channel Digital, GenAI, and “Phygital” model analytics at the core, powered by nationwide driving superior experiences network, pa
Slide 11: Tata Capital Limited – Financial Performance Summary
Tata Capital Limited – Financial Performance Summary FY25 FY26 Particulars (₹ crores) FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 (ex-TMFL) (ex-TMFL) Assets under management (net) 59,480 74,710 75,096 73,935 90,337 1,16,944 1,57,875 1,96,942 2,30,455 2,51,885 2,77,275 Total Gross loans 60,442 75,96
Slide 12: Business Overview
Business Overview
Slide 13: Pan-India "Phygital" Distribution Model
Pan-India “Phygital” Distribution Model Jammu & Kashmir Branch network Chandigarh 1,515 Branches Himachal Pradesh # of branches Punjab 26 States and UTs Uttarakhand 4 2.8x Haryana Uttar Pradesh 1,094 Locations 1,515 Significant addition 2 5 19 Delhi 10 Bihar Leveraging geo-analytics to 35 17 539 ide
Slide 14: Product Offerings – Retail and SME Driven Growth
Product Offerings – Retail and SME Driven Growth Comprehensive product suite which helps manage risk across economic cycles Net AUM: ₹ 3,08,030 cr TCHFL - one of the Retail : SME : Corporate Corporate Home loans largest HFCs with best- 56.7% : 28.7% : 14.6% 14.6% 15.6% in-class return profile Loan a
Slide 15: Business Segment Wise Net AUM
Business Segment Wise Net AUM Amount (₹ cr) % Mix Particulars Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Retail (excl. Motor Finance) 1,18,185 1,23,035 1,29,352 1,36,280 1,43,035 1,51,077 49.8% 50.4% 49.6% 49.1% 49.2% 49.0% Home loans 39,989 41,096 42,606 44,
Slide 16: Product Offerings – Retail
Product Offerings – Retail Net AUM % share in Net Average ticket size Products Description YoY growth (%) (₹ cr) AUM (₹ lakh) Loans to salaried and self-employed individuals through TCHFL Home loans 48,163 15.6% 17.2% 33.2 (51% of Net AUM to salaried individuals) Loan against Secured loans largely t
Slide 17: Product Offerings – SME & Corporate
Product Offerings – SME & Corporate Supply chain finance Equipment finance Leasing solutions • Working capital solutions to distributors • Financing of equipment ranging from heavy • Solutions tailored to SMEs & corporates for and dealers in the form of channel finance machinery to office equipment
Slide 18: Scaling High-Margin Retail Products
Scaling High-Margin Retail Products Disbursal IRR Disbursements growth YoY AUM growth YoY AUM growth YoY over time Particulars Q2FY27 Q2FY27 vs Q2FY26 Q2FY27 vs Q2FY26 Personal loans 14 – 15% 68% 19% Q2FY27 14% Business loans 17 – 18% 35% 21% Q1FY27 10% Microfinance loans ~25% 34% 34% Affordable & M
Slide 19: Non-Lending Businesses
Non-Lending Businesses Private Equity Wealth Management Distribution of Insurance ⚫ Currently focused on two themes: ⚫ Offers wealth management ⚫ Holds corporate agent (composite) services for high-net-worth license from IRDAI for the Growth Healthcare individuals and retail clients distribution of
Slide 20: Consolidated Financial Performance
Consolidated Financial Performance Particulars (₹ crores) Q2FY26 Q1FY27 Q2FY27 YoY growth H1FY26 H1FY27 YoY growth FY26 Assets under management (net) 2,43,896 2,90,502 3,08,030 26% 2,43,896 3,08,030 26% 2,77,275 Total Gross loans 2,39,960 2,86,381 3,03,739 27% 2,39,960 3,03,739 27% 2,73,392 Total Ne
Slide 21: Asset Quality Update (1/3)
Asset Quality Update (1/3) Particulars (₹ crores) 30-Sep-25 31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 Total Gross loans 2,39,960 2,57,140 2,73,392 2,86,381 3,03,739 (Of which GS2) 4,544 4,243 3,621 3,633 3,545 (Of which GS3) 5,369 5,747 5,541 5,494 5,723 Total Provisions 4,780 5,040 5,080 5,148 5,350
Slide 22: Asset Quality Update (2/3)
Asset Quality Update (2/3) Gross Stage 3 Net Stage 3 Provision Coverage Particulars Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Retail (excl. Motor Finance) 2.4% 2.5% 2.4% 2.3% 2.2% 0.9% 0.9% 0.9% 0.8% 0.7% 63.0% 63.2% 63.8% 65.2% 68.2% Ho
Slide 23: Asset Quality Update – Collection Efficiency (3/3)
Asset Quality Update – Collection Efficiency (3/3) Particulars Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Home Loan 99.9% 99.9% 99.8% 99.8% 99.8% 99.9% 99.9% 99.9% 99.9% 99.9% 99.9% 99.8% 99.9% 99.9% 99.8% Loan Against 99.6% 99.7% 99.7% 9
Slide 24: Material Subsidiary TCHFL
TATA CAPITAL Material Subsidiary TCHFL
Slide 25: Tata Capital Housing Finance Limited (TCHFL) Overview
Tata Capital Housing Finance Limited (TCHFL) Overview FY 22 – H1 FY27 : CAGR 31% AUM 26,384 Cr 27,074 Cr 24,855 Cr 28,604 Cr 36,995 Cr 51,455 Cr 67,252 Cr 86,653 Cr 95,098 Cr FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1FY27 PBT 127 Cr 255 Cr 478 Cr 760 Cr 1,101 Cr 1,539 Cr 2,013 Cr 2,457 Cr(1) 1,454 C
Slide 26: TCHFL Portfolio Overview
TCHFL Portfolio Overview Prime and Near Prime Home Loans Loan Against Property Prime & Near • Catering to Metro, Tier 1 & 2 cities • Catering to Salaried & SENP customers Prime HL • Granular Book with ATS of ₹ 29lakhs Prime LAP • Presence in Metro, Tier 1 & 2 cities 40% 21% • Overall LAP ₹ 27,337cr
Slide 27: TCHFL – Financial Performance Summary
TCHFL – Financial Performance Summary Particulars (₹ crores) Q2FY26 Q1FY27 Q2FY27 YoY growth H1FY26 H1FY27 YoY growth FY26 Assets under management (net) 75,636 89,416 95,098 26% 75,636 95,098 26% 86,653 Total Gross loans 74,350 86,743 91,181 23% 74,350 91,181 23% 84,439 Total Net loans 73,774 86,145
Slide 28: Motor Finance Update
TATA CAPITAL Motor Finance Update
Slide 29: Motor Finance Business Overview
Motor Finance Business Overview One of India’s leading vehicle financiers Net AUM movement Net AUM mix (Sep-26) Consolidating loan book in line with Realigning portfolio mix to improve strategy to improve business metrics granularity, book yield, and asset quality Net AUM ₹ 23,591 Cr Between Mar-25
Slide 30: Motor Finance Business Update
Motor Finance Business Update • Tata Motors Finance acquisition completed on May 8, 2025. Transformation progressing as planned amid a closely monitored CV cycle. Key Drivers Updates • Tied up with multiple OEMs. Contribution of other OEMs in disbursement of new vehicle loans increasing Disbursement
Slide 31: Liability & Asset Profile
Liability & Asset Profile
Slide 32: Diversified & Stable Liability Profile
Diversified & Stable Liability Profile Highest possible domestic credit rating Int’l credit rating of BBB Access to diverse pool of domestic and AAA with stable outlook 1st USD bond issue in Jan’25 international lenders at competitive rates Diversified Funding Sources (Total Borrowings) ₹ Cr 69,801
Slide 33: Key Ratios
Key Ratios 6.8x 6.9x 6.8x 6.7x 6.6x 6.1x 5.3x 5.3x 5.5x 5.1x 20.2% 19.0% 18.5% 17.2% 17.3% 16.5% 16.8% 16.5% 16.4% 16.2% 16.8% 15% 15.9% 15.6% 14.7% 13.7% 12.7% 12.7% 12.0% 12.0% 11.6% 4.9% 4.3% 4.1% 4.1% 3.8% 3.6% 3.4% 3.1% 2.9% 2.6% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3FY26 Q4FY26 Q1F
Slide 34: ALM Bucketing (Standalone)
ALM Bucketing (Standalone) Cumulative Inflows & Outflows 10% 10% 11% 11% 11% 8% 8% (2)% 3% 0% 120% 100% 90% 100% 100% 100% 80% 82% 79% 70% 80% 68% 70% 60% 60% 50% 47% 40% 39% 40% 34% 30% 26% 25% 21% 20% 20% 16% 14% 12% 13% 10% 5% 10% 2% 3% 0% 0% 1 to 7 Days 8 to 14 Days 15 days to 1M 1 to 2M 2 to 3M
Slide 35: Guidance
Guidance
Slide 36: FY28 Guidance
FY28 Guidance 23% – 25% 33% – 34% < 1.0% < 1.0% AUM CAGR Cost to income Credit cost Net NPA (FY25-28E) > 30% 2.5% – 2.7% 17% – 18% PAT CAGR ROA Return on Equity (FY25-28E) Note: Same as indicated in Q2FY26 investor presentation. 36
Slide 37: Technological Capabilities
Technological Capabilities
Slide 38: Digital First – Essence of Our Organization
Digital First – Essence of Our Organization 1 2 3 Digital DNA AI > Next Customer at the Core • Digital-first NBFC • Harnessing AI to reimagine finance • Every product design, experience, and • Technology at the core of how we and deliver superior customer promise is shaped around customers’ think, w
Slide 39: Digital DNA Driving Impact
Digital DNA Driving Impact Digitizing entire loan lifecycle to improve customer experience and create a seamless & efficient process Onboarding & Underwriting Collections Customer service cross-sales Statistical models for early API-enabled process flows Data integration Omnichannel customer service
Slide 40: Building an AI-First NBFC
Building an AI-First NBFC Scaling AI from individual use cases to enterprise-wide business transformation AI for Customer Engagement AI for Document Intelligence Building an AI-ready Workforce Unified AI voice and interaction platform AI-powered extraction, validation and Enterprise-wide AI learning
Slide 41: AI Embedded Across the Lending Value Chain
AI Embedded Across the Lending Value Chain Customer Acquisition & Portfolio Monitoring & Underwriting Operations Learn Services Onboarding Collections • AI-generated marketing • Credit Intelligence and • Agentic workflows across • AI-powered stock • AI agents supporting content and campaign automate
Slide 42: AI and Digital in Customer Acquisition and Onboarding
AI and Digital in Customer Acquisition and Onboarding AI in Marketing AI in Onboarding 85-90% 60% 75-80% 30 Lakh ~14% Marketing creatives Video and Blogs AI-enabled campaign Customer connects Call center PL sourcing generated using AI made with AI communications (Sep-26) through AI agents (Apr-26 to
Slide 43: AI in Underwriting
AI in Underwriting Documents Adoption across Improvement in Improvement in Document 120+ formats trained ~7.8 Cr Processed through AI 95%+ PL and BL underwriting 39%+ PL & BL processing TAT 30% SME underwriting (till Sep-26) (Q2FY27) (till Sep-26) (Q2FY27) productivity(1) Credit Intelligence Engine
Slide 44: AI in Operations
AI in Operations Adoption across Retail application Improvement in Ops cost 95%+ BL, TW & MFI 70% processed via AI ~43% Productivity Gained(1) ~40% processing TAT 28%+ reduction per (Q2FY27) (Q2FY27) (Q2FY27) file(1) Agentic Operations Platform Retail ▪ A unified AI agent platform that operates acro
Slide 45: AI in Services
AI in Services Welcome Email queries Reduction in Draft response 95% calls through AI ~75% Servicing cost 70%+ via AI agents 90%+ resolved on same day per call(1) (Sep-26) (till Sep-26) (Sep-26) Agentic Voice Hub Agentic Email Workflow ▪ Handles welcome calls and service requests ▪ Reads customer em
Slide 46: AI in Portfolio Monitoring and Collections
AI in Portfolio Monitoring and Collections Pre-delinquency calls early bucket EMI Adoption across Stock audit TAT 100% SME stock 83% reduction per case 95%+ handled through AI assisted bots 30% collections through AI assisted bots monitoring (till Sep-26) (Q2FY27) (till Sep-26) Stock Monitoring Coll
Slide 47: ESG Overview
TATA CAPITAL ESG Overview
Slide 48: Tata Capital Sustainability Initiatives – Commitments (1/3)
Tata Capital Sustainability Initiatives – Commitments (1/3) Key Pillars of Sustainability Commitments Board Independence Leadership Commitments Ethical and Diversity toward Sustainability Framework Diverse Board, with five out of eight Strong leadership accountability through 100% of Employees train
Slide 49: Tata Capital Sustainability Initiatives – Sustainability Indicators (2/3)
Tata Capital Sustainability Initiatives – Sustainability Indicators (2/3) A pioneer in Cleantech financing in the country, TCL has built a robust foundation to push the ESG agenda. Guided by our long term vision and unwavering commitment, we are embedding ESG considerations across our portfolio to p
Slide 50: Catalyzing Green Projects Through Cleantech Finance (3/3)
Catalyzing Green Projects Through Cleantech Finance (3/3) Financing green projects through Cleantech Finance In 2011, our erstwhile subsidiary TCCL(1) was set up by our Company and International Finance Corporation, with a primary focus on green and sustainable financing Cleantech Financing 700+ 35G
Slide 51: Tata Capital CSR Initiatives – Flagship Programmes (1/2)
Tata Capital CSR Initiatives – Flagship Programmes (1/2) Key CSR programmes dedicated to environmental impact Vanaropan for JalAadhar The Green Switch Neutrality (VN) Providing Water Security to water- Providing Energy Security to Unelectrified Creating Additional Carbon Sink stressed areas communit
Slide 52: Tata Capital CSR Initiatives – Flagship Programmes (2/2)
Tata Capital CSR Initiatives – Flagship Programmes (2/2) Key CSR programmes dedicated to healthcare and education Aarogyatara Education Eradication of curable blindness Pankh Scholarship | Upskilling Initiatives | Financial Literacy • The company is deeply committed to restoring sight and • Mentor a
Slide 53: Awards and Recognition
Awards and Recognition Award of Excellence NBFC and Fintech Bharat NBFC & Fintech Awarded ‘Customer ET Martech Awards 2025 Tata Innovista Award for Best BFSI Brand 2025 by Overall Performance – Excellence Awards 2026 Summit Awards 2026 for Centric Company of the for Innovative AI & our Gen AI-powere
Slide 54: Thank You
| Ss a <x rw) D FE Thank You
Slide 55: Annexures
Annexures
Slide 56: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ crores) Mar-26 Sep-26 Total Net Loans 2,68,203 2,98,217 Investments 9,508 9,550 Other financials assets 12,872 11,471 Total Assets 2,90,583 3,19,238 Total Borrowings 2,35,977 2,60,846 Other financials liabilities 7,499 7,923 Networth 45,861 48,981 Total Equi
Slide 57: Definition of Key Terms
Definition of Key Terms Term Definition Average cost of borrowings ratio Finance cost as a percentage of average total borrowings for the relevant fiscal / period. Computed from the standalone financial statements of the company, as tier I capital divided by total risk weighted assets, in accordance