Mahindra & Mahindra Financial Services Limited (MMFSL) has shared key business updates for the third quarter of FY26, outlining steady growth in disbursements, asset quality, and liquidity position.
According to the company’s filing, MMFSL estimates overall disbursements of approximately Rs 17,600 crore in Q3 FY26, registering a 7% year-on-year growth compared with the same period last year. For the nine months ended FY26, disbursements are estimated at around Rs 43,900 crore, reflecting a 4% YoY increase, excluding finance leases .
The company’s business assets stood at approximately Rs 1,29,000 crore as of December 2025, marking a growth of about 12% compared with December 2024, indicating continued expansion in its lending book .
On the asset quality front, MMFSL reported collection efficiency of 95% for Q3 FY26, unchanged from the same quarter last year. As of December 31, 2025, Stage-3 assets are estimated in the range of 3.9% to 4.0%, while Stage-2 assets are estimated between 5.4% and 5.5%, showing improvement in Stage-2 levels compared with December 2024 .
The company also highlighted a strong liquidity position, stating that it continues to maintain a liquidity buffer of over Rs 8,850 crore on its balance sheet, providing financial flexibility amid evolving market conditions .
These updates were formally communicated to the exchanges on January 3, 2026, as part of the company’s standard quarterly disclosures.
