Tata Capital FY25: ₹1 Trillion in Assets, ₹1 Crore in Trust Earned
In the fast-evolving world of financial services, Tata Capital has emerged as a powerhouse of innovation, scale, and trust. Backed by the formidable legacy of the Tata Group, the company has crossed significant milestones in FY2024–25, marking one of its most successful financial years yet.
With a diversified portfolio spanning retail lending, housing finance, green energy funding, and investment advisory, the company is not just serving India’s financial needs—it’s shaping them.
Who Is Tata Capital?
Tata Capital Limited is the financial services arm of the Tata Group, delivering a full spectrum of solutions, including:
- Consumer Loans
- Home Loans & Construction Finance
- SME & Business Loans
- Vehicle Financing
- Leasing & Structured Finance
- Wealth & Investment Advisory
- Renewable Energy Financing
With over 4.2 million customers, a presence in 600+ cities, and growing digital platforms, the company is reimagining finance for both Bharat and India.
FY2024–25: The Breakout Year
Assets Under Management (AUM) : ₹1,50,000+ crore
Final Dividend Declared: ₹0.42 per equity share
Digital Disbursement Share: 70% of personal loans
Customer Count: 4.2 million
| Particulars | FY2025 (₹ Cr) | FY2024 (₹ Cr) | YoY Growth (%) |
| Revenue from Operations | 28,312 | 18,171 | 55.8% ↑ |
| EBITDA (Operating Profit) | 20,340 | 14,258 | 42.6% ↑ |
| Profit Before Tax (PBT) | 4,918 | 4,392 | % ↑ |
| Profit After Tax (PAT) | 3,655 | 3,326 | 12% ↑ |
| Dividend per Share | ₹9.32 | ₹8.57 | – |
What Fueled Tata Capital’s Stellar Performance?
1. Merger with Tata Motors Finance
In one of the year’s biggest consolidation moves, Tata Capital merged with Tata Motors Finance Limited (TMFL), issuing 18.38 crore shares to TMF Holdings. This deal brought:
- Higher loan book scale
- Expanded retail and vehicle financing reach
- Operational efficiencies from consolidation
This merger is a game changer in enhancing Tata Capital’s retail lending footprint and profitability.
2. Balanced and High-Growth Portfolio
3. Digital-First Lending Transformation
Tata Capital has gone from a traditional lender to a digital disruptor:
- Over 70% of personal loans disbursed online
- AI-driven credit engines for real-time approvals
- A mobile app with 1 million+ downloads
This tech-led shift has lowered costs, improved customer experience, and accelerated growth.
4. Financial Discipline & Strong Governance
- No deviation in use of NCD proceeds
- Healthy Security Cover Ratio of 2.5x
- AAA (Stable) credit rating from leading agencies
- Transparent disclosures under SEBI’s Listing Regulations
These are hallmarks of a company that grows responsibly.
Business Divisions at a Glance
| Division | Focus Area |
| Tata Capital Financial Services Ltd. | Corporate & Consumer Lending |
| Tata Capital Housing Finance Ltd. | Affordable & Premium Housing |
| Tata Cleantech Capital Ltd. | Sustainable Finance |
| Tata Securities Ltd. | Investment Banking & Wealth Management |
Each vertical operates with specialized teams, allowing the company to maintain scale without losing focus.
The IPO Buzz: ₹15,000 Cr Listing in the Works
In a strategic move to unlock value and expand investor participation, Tata Capital has submitted a confidential IPO pre-filing with SEBI.
IPO Highlights:
- Issue Size: ₹15,000 crore
- Fresh Issue: Up to 230 million shares
- Offer for Sale (OFS): By Tata Sons and IFC
- Bookrunners: Kotak Mahindra, JP Morgan, Axis Capital, Citi, ICICI Securities, SBI Caps, and others
- IPO Mode: Confidential Pre-Filing Route under SEBI’s 2022 framework
- Tata Sons’ Stake Post-IPO: Will remain above 75%
Valuation Highlights:
| Financials | Tata Capital | Bajaj Finance |
| Share Price (May 2025) | 999 | 9,146 |
| MCAP | 3,69,935 Cr | 568359 Cr |
| P/E Ratio | 116.5 | 34.2 |
| P/S Ratio | 20.35 | 8.2 |
| P/B Ratio | 15.81 | 5.9 |
Tata Capital Appears Overvalued: With a sky-high P/E of 116.5 and P/S of 20.35, Tata Capital is trading at steep multiples, far exceeding Bajaj Finance’s more reasonable valuations.
Bajaj Finance Offers Better Value: In contrast, Bajaj Finance’s P/E of 34.2 and P/B of 5.9 reflect a more grounded valuation, making it a potentially more attractive option for value-conscious investors.
What’s Next?
With IPO murmurs in the air and a fast-growing footprint, the road ahead looks bright:
- Public listing could unlock further value
- Tier 2/3 India expansion to bring 10M+ new customers
- Deeper push into fintech partnerships & embedded lending
Final Word: Trust with Numbers
Tata Capital’s FY25 wasn’t just about big mergers or bigger numbers. It was about:
- Serving a billion aspirations,
- Enabling homeownership dreams,
- Funding a greener tomorrow, and
- Doing it all with integrity.
“In a market full of lenders chasing size, the company is building legacy.”
Stay tuned. Tata Capital’s next chapter could include a stock market debut—and a new benchmark for Indian NBFCs.
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