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Informist, Tuesday, May 5, 2026

By J. Navya Sruthi

MUMBAI – PB Fintech Ltd. is expected to report strong year-on-year growth in its earnings in the March quarter, thanks to the rise in insurance premiums, according to brokerages tracking the company. The fintech company operates insurance aggregator platform PolicyBazaar and lender platform Paisabazaar.

The company's consolidated net profit for the reporting quarter is expected to jump nearly 40% on year and around 26% on quarter to INR 2.38 billion, according to an average of estimates from five brokerages. Nuvama Wealth Management Ltd. has the highest estimate for net profit at INR 2.86 billion, while Dolat Capital Market Pvt. Ltd. has the lowest at INR 2.00 billion. 

"We expect new business premium (excluding goods and services tax) to be in the late thirties whereas renewals will continue to remain strong, leading to 40% YoY (year-on-year) growth in online insurance premium (excluding GST)," JM Financial Institutional Securities Pvt. Ltd. said in an earnings preview.

The company's net sales for the reporting quarter are likely to rise over 29% on year and over 10% on quarter to INR 19.49 billion, according to the average of estimates. The highest estimate for the net sales is INR 20.97 billion from B&K Securities while the lowest estimate is INR 17.87 billion from Nuvama Wealth Management.

Growth in premiums from new initiatives is likely to remain flat on quarter due to a slowdown in business from PolicyBazaar partners, and disruptions to the United Arab Emirates operations due to the ongoing military conflict in West Asia, JM Financial brokerage said. These initiatives include PolicyBazaar partners, PolicyBazaar for business, and UAE operations. The new initiatives' growth trajectory is expected to remain strong on a yearly basis with losses reducing as businesses scale, Motilal Oswal Financial Services Ltd. said.

The company will announce its earnings on Wednesday. Investors will watch for commentary on potential changes in distribution commission structure.

Shares of PB Fintech have risen over 16% since the company declared its earnings for the December quarter on Feb. 2. At 1100 IST, the stock was marginally up at INR 1,676.60 on the National Stock Exchange.

Brokerages have a largely positive view on the stock. Of the reports available with Informist, three have a "buy" recommendation with an average target price of INR 1,923 per share, two have a "hold" call with an average target price of INR 1,740, and one recommends selling the stock with a target price of INR 1,570 a share.

Following are the March quarter earnings estimates for PB Fintech based on reports from five brokerage firms in descending order of the estimates of net profit in INR billion:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Deepshikha Bhardwaj

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