PB Fintech Ltd(POLICYBZR)

NSE: POLICYBZRBSE: 543390

₹ 1,017+0.59%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 47,062 crWebsite: www.pbfintech.inUpdated: 24 Oct 2026

About

PB Fintech Ltd operates India's largest online insurance marketplace (Policybazaar) and consumer-credit marketplace (Paisabazaar), acting as a composite broker across 900+ insurance plans and partnering with 70+ lenders. Policybazaar holds an 18 - 20% share of India's retail health fresh insurance market, up from 4.5% at its IPO.^[1][2][3]

Products and brands

Policybazaar is registered as a Composite Broker with IRDAI and lists 900+ insurance plans spanning health, term, motor, savings and commercial lines from 53 insurer partners.^[1]
Paisabazaar operates an online consumer-credit marketplace with 70+ lender partners; it has served 58 million consumers across 850+ cities with free credit scores and improvement services as of FY26.^[1]
PB Care+ is a preferred-hospital network launched in FY26; it reached 225 centres by end-FY26 and provides on-ground concierge support alongside insurance coverage.^[1]
PB Wheels, launched in FY26, connects customers to servicing, repairs and insurance across the car-ownership journey.^[1]
PB Pay received its RBI certificate of registration as an online payment aggregator; the group also holds an NBFC-Account Aggregator licence, both granted in FY26.^[1]

Distribution and reach

Policybazaar has on-ground sales presence in 200+ cities and claims support in 250+ cities; it serves customers in 20 languages as of FY26.^[1]
PB Partners (POSP) had ~450,000 registered partner agents across ~19,000 pin codes (~99% of India's pin codes) as of FY26; active partner count grew 55% YoY to 1.13 lakh in Q1 FY27.^[1][4]
PB for Business (corporate broker) serves 50,000+ corporates and SMEs through 13 operating centres and a presence in 130+ cities in 14 languages as of FY26.^[1]
Policybazaar has a branch office in GIFT City, with IFSCA approval received on 15 April 2025.^[1]

Key operating numbers

Total online insurance premium: ₹29,934 Cr in FY26 (+42% YoY); reached ₹8,372 Cr in Q1 FY27 (+41% YoY). New health premium grew 59% YoY and new health+term combined grew 53% YoY in Q1 FY27.^[1][4]
Trailing-12-month renewal revenue: ₹1,003 Cr as of Q1 FY27 (+55% YoY); full-year FY26 renewal revenue was ₹935 Cr vs ₹668 Cr in FY25, earned at ~80% margins.^[4][3]
Total credit disbursals (including secured): ₹30,740 Cr in FY26 (+50% YoY); core online credit disbursals were ₹9,474 Cr in FY26. Q1 FY27 credit disbursals: ₹4,366 Cr (+33% YoY).^[1][4]
PB Partners quarterly premium: ₹1,637 Cr in Q1 FY27 (+46% YoY); 78% of GWP from Tier 2 and Tier 3 cities.^[4]
Paisabazaar contribution margin: 41% in Q1 FY27.^[4]
Cumulative insurance policies sold: 67.3 million; transacting consumers: 26.4 million; registered consumers: 145.7 million as of FY26.^[1]
Platform handles 10 Cr customer interactions per month and ~21 lakh calls per day; 30 - 40% of interactions are now AI-touched as of Q1 FY27.^[1][4]

International operations

UAE insurance premium ARR reached ~₹1,980 Cr in FY26, growing 54% YoY; Q1 FY27 UAE premium grew 31% YoY. Business has been consistently profitable; mix has shifted from predominantly motor to majority health and life.^[3][4][5]
Paisabazaar expanded to the UAE with paisabazaar.ae, offering credit cards, loans and financial products in FY26.^[1]

Expansion and new initiatives

PB Health is building an integrated healthcare capability: PB Care+ network targets 500 - 600 preferred hospitals; a small owned hospital in Gurgaon (Central Gurugram) was targeted to be operational by end-May 2026, with additional properties in Delhi and Noida under development.^[3][6]
PB Health's internal target is a ₹500 Cr annual run rate and breakeven by March 2027.^[4]
Paisabazaar launched fixed deposits and bonds on-platform; a daily-SIP mutual fund platform and own-platform bonds were targeted for launch by end-August 2026.^[4]
Management raised the probability of establishing an insurance or reinsurance manufacturing (own-underwriting) capability in response to the draft IRDAI commission-reform consultation paper released 23 September 2026.^[4]

Regulatory and recent developments

IRDAI released a draft consultation paper on 23 September 2026 proposing effort-based commission reform; general insurance (health, motor) commissions would fall to one-third to 40% of current levels, implying ~30% consolidated revenue compression. FY27 is unaffected; FY28 expected to be a year of challenges.^[4]
In response to the draft regulations, management guided that hiring will slow after ~6,000 gross hires in H1 FY27, with potential 10 - 15% revenue-to-cost synergy (management-described as tentative); no mass layoffs planned.^[4]
GST exemption on health and term insurance announced in September 2025 created record demand days (5 Sep and 22 Sep 2025 were the highest-volume days in Policybazaar's history for health and term).^[6]
PB for Business ranked in India's top-8 insurance brokers by Q4 FY26, having won prestigious banking and financial-sector accounts from competitors; Q4 FY26 corporate insurance grew approximately 140% YoY.^[3]
AI risk models saved approximately ₹10,000 Cr of sum assured in the year prior to Q1 FY27; generative AI processes calls across seven Indian languages for fraud detection, triage and personalised recommendations.^[4][1]

Market Cap

₹47,062 Cr

High / Low

₹1,963 / 945

Stock P/E

62.5

Price / Book

6.4

Book Value

₹158

EPS

₹14.5

No. of Shares

46.27 Cr

ROE

9.8%

Sales

₹6,794 Cr

Net Profit

₹670 Cr

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