PB Fintech Q2FY26: PB Fintech, the parent company of PolicyBazaar and Paisabazaar, is set to announce its Q2FY26 financial results on Wednesday, October 29, 2025. According to brokerage estimates, the fintech major is expected to deliver another strong quarter, driven by robust premium growth across its insurance and lending platforms.
Analysts anticipate a sharp jump in profitability and healthy revenue growth, supported by operating leverage and a surge in demand for health and life insurance products. However, management commentary on the recent GST rate change to nil on individual life and health insurance products will be crucial to watch, as it could impact PolicyBazaar’s take rate and overall revenue trajectory in the coming quarters.
The company’s continued efforts to deepen insurance penetration, improve user engagement, and expand partnerships with insurers are likely to keep growth momentum intact. At the same time, the fintech market will be closely watching how PB Fintech navigates margin trends and profitability improvements amid a changing regulatory landscape.
PB Fintech Q2FY26: Profit Expected to Soar 145% YoY
Brokerages tracked by Business Standard expect PB Fintech’s net profit to rise 146% year-on-year (YoY) on average to ₹124.86 crore, compared to ₹50.85 crore in the same quarter last year. Sequentially, profit is seen growing 48% from ₹84.65 crore in Q1FY26, signaling sustained earnings momentum.
The sharp rise in profit is attributed to higher insurance premium volumes, improved monetization from the lending vertical, and continued operating efficiency. Analysts believe that PolicyBazaar’s core platform has reached a stage of scale that allows it to generate meaningful profits, a shift from earlier years marked by high marketing and customer acquisition costs.
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Revenue May Grow 34% YoY on Robust Premium and Lending Demand
PB Fintech’s revenue for the quarter under review is projected to increase 34% YoY to an average of ₹1,565.5 crore, compared to ₹1,167.2 crore in Q2FY25. On a quarter-on-quarter (QoQ) basis, the topline is expected to grow 16%, up from ₹1,348 crore in Q1FY26.
Strong growth in insurance distribution and lending marketplaces continues to be the company’s key driver. Increased consumer interest in digital insurance platforms, higher policy renewals, and a diversified insurer network are likely to have contributed to the topline expansion.
Analysts Expectations: Nuvama Projects Strong Core Platform Growth
According to Nuvama Institutional Equities, PB Fintech is expected to post another quarter of impressive growth backed by 35%+ premium expansion in its core insurance business.
- Net Profit: ₹112.4 crore vs ₹50.85 crore (YoY growth of 121%)
- Revenue: ₹1,612.8 crore vs ₹1,167.2 crore (YoY growth of 38%)
- EBITDA: ₹121.9 crore vs ₹56.2 crore (YoY growth of 117%)
Nuvama anticipates further margin improvement as operating leverage continues to play out, reflecting better cost control and revenue scalability. The brokerage expects higher contribution from renewals and steady growth in the Paisabazaar lending marketplace, which has seen an uptick in credit demand.
GST Rate Change to Nil: A Key Factor to Watch
The market will pay close attention to PB Fintech’s management commentary on the recent decision to set the GST rate to nil on individual life and health insurance. While the move is expected to benefit customers by lowering policy costs, analysts are assessing its potential impact on PolicyBazaar’s take rate — the commission or fee it earns per policy.
If the GST change affects the pricing or commission structure for intermediaries, it could slightly moderate revenue growth in the short term. However, in the long term, increased affordability and higher policy adoption could offset any temporary margin pressure.
Drivers of PB Fintechs Q2FY26 Performance
1. Insurance Premium Growth
The company continues to witness strong traction in life and health insurance, supported by growing financial awareness and digitization of distribution.
2. Lending Platform Expansion
Paisabazaar is expected to maintain steady growth as consumer credit demand rises amid improved economic conditions.
3. Operational Efficiency
Lower marketing spends, improved lead conversion ratios, and better underwriting partnerships are contributing to operating leverage and profitability.
4. Digital Transformation
Investment in technology, personalization, and AI-driven underwriting has helped PolicyBazaar enhance user experience and conversion rates.
Conclusion
PB Fintech’s Q2FY26 results are likely to reflect a continued turnaround story in India’s digital insurance ecosystem. With expected profit growth of 145% YoY and revenue expansion of 34–38%, the company appears on track to sustain its profitability momentum.
The GST rate revision and its effect on the company’s take rate will be a focal point, especially for long-term investors assessing margin visibility. However, PB Fintech’s strategic diversification, scalable digital platforms, and expanding insurance partnerships provide strong tailwinds.
As the operator of PolicyBazaar and Paisabazaar, PB Fintech continues to be a key player in India’s insurtech revolution, helping bridge the gap between consumers and financial protection products. With Blackstone, Tiger Global, and other institutional investors maintaining confidence in its growth model, the company’s outlook for FY26 remains optimistic.
Overall, Q2FY26 could reaffirm PB Fintech’s position as a profitable and scalable fintech leader, driving financial inclusion and digital adoption in the insurance and lending sectors.
FAQs of PB Fintech Q2FY26
1. When will PB Fintech announce its Q2FY26 results?
PB Fintech will release its Q2FY26 results on October 29, 2025. Investors will be watching the results closely for updates on profitability, margins, and the impact of the GST rate change on its core business.
2. How much profit is PB Fintech expected to post in Q2FY26?
Brokerages estimate PB Fintech’s net profit to rise by 145–146% YoY to around ₹124.86 crore, compared to ₹50.85 crore in Q2FY25, driven by strong insurance and lending growth.
3. What is PB Fintech’s expected revenue for Q2FY26?
Revenue is forecast to grow by 34–38% YoY to between ₹1,565 crore and ₹1,613 crore, with healthy sequential growth as well.
4. How could the GST rate change affect PB Fintech?
The recent move to make GST nil on life and health insurance could temporarily affect the company’s take rate (commission per policy). However, it may also drive higher customer adoption, offsetting short-term margin pressures.
5. What are the key growth drivers for PB Fintech going forward?
Major growth drivers include rising insurance penetration, digital distribution strength through PolicyBazaar, increased credit demand via Paisabazaar, and efficiency gains from AI-based underwriting and automation.
