SBI CARDS & PAY SER LTD

During the Q1 FY27 earnings conference call held on July 24, 2026, management reported that India's macroeconomic fundamentals remain strong, with GDP projected to grow around 6.6%. The digital payment ecosystem is expanding rapidly, with UPI driving engagement and credit card adoption. SBI Cards has a market share of 18.6% in cards in force and 19.5% in card spends, with total spends reaching INR 1,18,475 crores, a 27% year-on-year growth. The company added over 1 million new accounts in Q1 FY27, achieving a 17% year-on-year growth. Profit After Tax (PAT) grew 20% year-on-year to INR 664 crores, supported by improved credit costs. Management emphasized a focus on disciplined execution, customer-centric innovation, and investments in digital capabilities to sustain growth. The company also highlighted its strong asset quality, with gross NPA at 2.04% and net NPA below 1%.

Management emphasized strong growth metrics and a solid market position.