CreditBrief

What Mahindra Finance lends, and to whom

Its loan book from its own filings: how big it was at the end of FY2025-26, who borrows from it, how it has grown and where it ranks. Every number links to the page it came from.

FY2025-26Year-end balance on 31 March 2026, the last day of FY2025-26. The latest half-year balance, on 30 Sep 2026, is ₹1.47 lakh crore (+9.3% since March).

Mahindra FinanceNBFCs

₹1.34lakh croreAUM, standalone on 31 Mar 2026: lent and not yet repaid

Compare loan books Credit salaries here

Size among peers7thof 13 NBFCs on CreditBrief, March 2026
Biggest segment40.1%Passenger vehicles, latest split (30 Sep 2026)
Share of the combined book6%of all NBFCs on CreditBrief

Chapter 01 · The loan book

₹1.34 lakh crore lent out by March 2026. To whom?

A loan book is everything a lender has lent that has not yet been paid back. It is not profit and not revenue: it is the money still owed to it, on one day.

The simple version. When someone takes a ₹50 lakh home loan, it sits in Mahindra Finance's loan book until it is repaid. Add up every loan it had out on 31 March 2026, from passenger vehicles down, and you get ₹1.34 lakh crore. By 30 Sep 2026 it was ₹1.47 lakh crore.

First cut: who the borrower is · split from its latest filing, 30 Sep 2026

85%People and households₹1.25 lakh crorePassenger vehiclesCommercial vehicles and construction equipmentsPre-owned vehiclesTractors3 Wheelers
7%Businesses₹9,670 croreSME

8% sits in lines the filing does not tie to either: Others.

Drilling down: what it lends against · 30 Sep 2026

  • Passenger vehicles₹58,751 crore40.1%
  • Commercial vehicles and construction equipments₹26,372 crore18%
  • Tractors₹17,874 crore12.2%
  • Pre-owned vehicles₹17,581 crore12%
  • Others₹12,014 crore8.2%
  • SME₹9,670 crore6.6%
  • 3 Wheelers₹4,395 crore3%

Some segments are worked out from the share of the book the lender gives.

Mahindra Finance on its own. With its housing subsidiary the book is ₹1,56,311 crore (page 7). The filing gives the split only as percentages, so the amounts are worked out from them. "Others" covers trade advances, personal loans, leasing, farm implements and housing.

Sources: Mahindra & Mahindra Financial Services Earnings Presentation Q4 FY26, PDF page 10 ↗ for March 2026; Mahindra & Mahindra Financial Services Earnings Presentation Q2 FY27, PDF page 6 ↗ for 30 Sep 2026 and the split.

Chapter 02 · Insights

Growing 20% a year since March 2022.

From ₹64,961 crore on 31 March 2022 to ₹1.34 lakh crore on 31 March 2026, and ₹1.47 lakh crore by 30 Sep 2026. Click the i beside any figure in the table to see the line it was read from.

CreditBrief Insights11 figures from 3 filings · each checked against its pageHow it works
Mahindra Finance · loan book · 31 March 2026₹1.34lakh crore+12% in FY2025-26₹1.47 lakh crore by 30 Sep 2026
  1. 0120%a year since 2022Grew 20% a year from March 2022 to March 2026, faster than 4 of the 10 other NBFCs with like-for-like figures for those years.
  2. 0212%in FY2025-26Growth slowed to 12% in FY2025-26, from 17% the year before.
  3. 036thamong peersSlipped from 6th to 7th biggest of these 13 NBFCs between March 2022 and March 2026.
Branches1,348-1.2% · in FY2025-26
MeasureMar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Loan book₹ crore · AUM, standalone64,96182,7701,02,5971,19,6731,34,0961,46,512
BranchesNumber1,3841,3861,4021,3651,348

Each value was checked by script: the quoted line is on the cited page and its number matches. Growth is worked out from these values.

Insights alertQ3 FY2026-27 due by 14 Feb 2027

Know what moved at Mahindra Finance, the week its results land.

Insights reads the filing, checks every figure against its page, and emails you the story with the receipts. About four emails a year per lender.

Add role and company optional
Its last results, as an alert

CreditBrief Insightsto you

Mahindra Finance, Q2 FY2026-27: loan book ₹1.47 lakh crore, +9.3% since March

  • ₹1.47 lakh crore lent out by Q2 FY2026-27
  • Biggest segment: Passenger vehicles, 40% of the book
  • Every figure links to page 6 of its filing

Chapter 03 · Among its peers

7th biggest of 13 NBFCs we cover, March 2026.

At the end of FY2025-26 it held 6% of the combined loan book of the NBFCs on CreditBrief. NBFCs and housing finance companies report assets under management.

  1. 1Bajaj Finance₹5.10 lakh crore
  2. 2Shriram Finance₹3.02 lakh crore
  3. 3Tata Capital₹2.77 lakh crore
  4. 4Cholamandalam Investment and Finance₹2.24 lakh crore
  5. 5Muthoot Finance₹1.63 lakh crore
  6. 6Aditya Birla Capital₹1.60 lakh crore
  7. 7Mahindra Finance₹1.34 lakh crore
  8. 8L&T Finance₹1.22 lakh crore

Explore every lender's loan book. CreditBrief covers 53 lenders, not every lender in India.

Chapter 04 · Working here

Getting in.

Read next

Prepare for the interview

Chapter 05 · Sources

Every number, traced to its filing.

Similar lenders