India NBFC & Lending — Bajaj Finance HDFC-Style Compounders
Non-Banking Financial Companies (NBFCs) are India's credit backbone outside the formal banking system. Bajaj Finance, Cholamandalam, Shriram Finance, and microfinance lenders serve the credit-starved middle and lower-middle class. RBI regulation adds governance but limits risk.
Stocks in this theme · India NBFC & lending
15 companies in this theme — showing top 12 by market cap.
| Symbol | Company | Price | Mkt Cap | ROE | P/E |
|---|---|---|---|---|---|
| BAJAJFINSV | BAJAJFINSV | ₹1,677 | ₹2,66,358 Cr | 7.8% | 32.98 |
| SHRIRAMFIN | Shriram Finance | ₹1,059 | ₹1,99,141 Cr | — | — |
| CHOLAFIN | CHOLAFIN | ₹1,469 | ₹1,21,667 Cr | 17.5% | 35.26 |
| PFC | PFC | ₹315.6 | ₹1,05,042 Cr | 19.5% | 5.32 |
| MUTHOOTFIN | MUTHOOTFIN | ₹2,407.5 | ₹96,182 Cr | 16.8% | 22.24 |
| ABCAPITAL | ABCAPITAL | ₹353.55 | ₹91,794 Cr | 11.7% | 27.26 |
| RECLTD | RECLTD | ₹286.5 | ₹78,523 Cr | 20.4% | 5.56 |
| BAJAJHFL | Bajaj Housing Finance Ltd | ₹77.64 | ₹67,417 Cr | 12.1% | 24.00 |
| LTF | LTF | ₹240.8 | ₹60,008 Cr | 9.9% | 25.92 |
| BAJFINANCE | BAJFINANCE | ₹912 | ₹56,776 Cr | 18.8% | 3.89 |
| M&MFIN | Mahindra & Mahindra Financial Services | ₹378.35 | ₹52,546 Cr | — | — |
| SBICARD | SBICARD | ₹528.05 | ₹51,191 Cr | 19.9% | 21.22 |
Research Coverage
- Top NBFC compounders ranked by AUM growth and ROE
- Microfinance stress: which lenders are clean?
- Housing finance comparison: HDFC Life vs PNB Housing vs Can Fin
- RBI regulatory risk tracker for NBFCs
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Frequently Asked Questions
What is an NBFC?
Non-Banking Financial Company — a financial institution that offers loans, credit, and other banking services but is not a licensed bank. Regulated by the RBI.
Is Bajaj Finance overvalued?
Bajaj Finance trades at a premium (5–7x book) due to its consistent 25%+ AUM growth, cross-sell franchise, and best-in-class collections — a quality premium.