Q2 FY27 results approved; QIP of Rs. 2,099.99 crore completed, warrants to promoter entity allotted
Board met on 19th October, 2026 and approved the unaudited standalone and consolidated results for the quarter and half year ended 30th September, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 3,659.19 | 2,871.55 | +27.4% | 3,355.92 | +9% |
| Total income | 3,717.16 | 2,900.27 | +28.2% | 3,417.19 | +8.8% |
| Profit before tax | 580.03 | 249.40 | +133% | 442.99 | +30.9% |
| Profit after tax | 545.42 | 326.99 | +66.8% | 460.98 | +18.3% |
| Total comprehensive income | 293.54 | 234.12 | +25.4% | 661.13 | −55.6% |
| Basic EPS | 23.68 | 14.43 | +64.1% | 20.38 | +16.2% |
- Total income
- Latest 3,717.16; Year ago 2,900.27 (+28.2%); Prev qtr 3,417.19 (+8.8%)
- Profit after tax
- Latest 545.42; Year ago 326.99 (+66.8%); Prev qtr 460.98 (+18.3%)
- Period
- 3 months ended (30/09/2026)
Auditor's review
Conclusion: Unmodified
Notes to the results
- Exceptional items of Rs. (81.00) crores in quarter ended Sep 30, 2025: Rs. 59 crores for amalgamation of Piramal Enterprises Limited and Rs. 22 crores tax-related compensation for an erstwhile subsidiary.
- QIP completed during the quarter: 99,52,606 equity shares allotted at Rs. 2,110 per share, aggregating Rs. 2,099.99 crores.
- Preferential issue of up to 82,94,000 convertible warrants to Nithyam Realty Private Limited at Rs. 2,110 each (up to Rs. 1,750.03 crores); 25% (Rs. 437.51 crores) received after quarter end.
- Scheme of Amalgamation of Piramal Corporate Tower, Piramal Agastya Offices and DHFL Investments with the Company (Appointed Date April 1, 2026) pending NCLT sanction.
Board meeting outcome
The Board of Directors met on 19th October, 2026 from 2:00 p.m. to 3:25 p.m. and approved the unaudited financial results (standalone and consolidated) for the quarter and half year ended 30th September, 2026, along with the limited review report, the statement of utilisation of proceeds and the security cover certificate.
Auditor's review conclusion
The review was carried out by the joint statutory auditors, Singhi & Co. and Lodha & Co. LLP. It is a limited review, not a full audit. Their conclusion is unmodified: nothing came to their attention that causes them to believe the statement has not disclosed the information required, or that it contains any material misstatement.
Qualified Institutions Placement (QIP)
- During the quarter, 99,52,606 equity shares of face value Rs. 2 each were allotted at an issue price of Rs. 2,110 per equity share, aggregating Rs. 2,099.99 crores.
- Paid-up equity share capital increased by Rs. 1.99 crores and securities premium by Rs. 2,050.01 crores (net of issue-related expenses of Rs. 48 crores).
- Of the proceeds, Rs. 1,999.99 crores went to onward lending, Rs. 52.00 crores to general corporate purpose and Rs. 8.21 crores to issue expenses. The unutilised amount as on 30th September, 2026 was Rs. 39.79 crores.
Warrants to a promoter entity
- The Board on 24th August, 2026 and shareholders by special resolution on 19th September, 2026 approved a preferential issue of up to 82,94,000 convertible warrants to Nithyam Realty Private Limited, a Promoter Entity, at Rs. 2,110 per warrant, aggregating up to Rs. 1,750.03 crores.
- Each warrant converts into one fully paid-up equity share. An amount equal to 25% of the issue price, Rs. 437.51 crores, has been received after the quarter ended 30th September, 2026 and the warrants have been allotted. The balance 75% is payable on exercise, which can be done in one or more tranches within 18 months from the date of allotment.
Standalone results (Rs. in crores)
- Total income: 3,683.06 for the quarter and 7,133.74 for the half year.
- Revenue from operations: 3,625.20 for the quarter and 7,014.83 for the half year.
- Profit for the period: 529.21 for the quarter and 969.13 for the half year.
- Basic EPS (not annualised): Rs. 22.97 for the quarter.
Balance sheet highlights (standalone)
- Total assets Rs. 1,18,565.00 crores as at 30th September, 2026, against Rs. 1,09,542.43 crores as at 31st March, 2026.
- Loans Rs. 96,710.78 crores; borrowings other than debt securities Rs. 52,742.92 crores.
Scheme of amalgamation
- The boards of the companies approved a scheme of amalgamation of Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited and DHFL Investments Limited (wholly-owned subsidiaries) into the company. An application and company petition have been shared with the NCLT; the scheme is subject to its sanction and other regulatory approvals.
Other disclosures in the update cover project finance exposures, co-lending arrangements, loans transferred or acquired during the half year, and details of loans under the COVID-19 resolution framework.
Also from Piramal Finance
Q2 FY27 call: AUM up 24% at INR1,13,112 crores, PAT up 67%; FY28 AUM aspiration INR1.5 lakh crores
23 Oct 2026
Piramal Finance shares rose on the back of a strong set of quarterly numbers
21 Oct 2026
Piramal Finance posts audio recording of 19 Oct 2026 conference call on Q2/H1 FY27 unaudited results
19 Oct 2026
More numbers
- Total income, standalone, quarter ended 30/09/20263,683.06
- Profit for the period, standalone, quarter ended 30/09/2026529.21
- Total income, standalone, half year ended 30/09/20267,133.74
- Profit for the period, standalone, half year ended 30/09/2026969.13
- QIP equity shares allotted99,52,606
- QIP issue price per equity shareRs. 2,110
- QIP aggregate amountRs. 2,099.99 crores
- Convertible warrants to Promoter Entity82,94,000
- Total income, latest quarter3,717.16 (Rs. in crores)
- Total income, year-ago quarter2,900.27 (Rs. in crores)
- Total income, previous quarter3,417.19 (Rs. in crores)
- Total comprehensive income, latest quarter293.54 (Rs. in crores)
- Total comprehensive income, year-ago quarter234.12 (Rs. in crores)
- Total comprehensive income, previous quarter661.13 (Rs. in crores)
- Profit after tax, latest quarter545.42 (Rs. in crores)
- Profit after tax, year-ago quarter326.99 (Rs. in crores)
- Profit after tax, previous quarter460.98 (Rs. in crores)
- Revenue from operations, latest quarter3,659.19 (Rs. in crores)
- Revenue from operations, year-ago quarter2,871.55 (Rs. in crores)
- Revenue from operations, previous quarter3,355.92 (Rs. in crores)
- Profit before tax, latest quarter580.03 (Rs. in crores)
- Profit before tax, year-ago quarter249.40 (Rs. in crores)
- Profit before tax, previous quarter442.99 (Rs. in crores)
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