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After years of burn, Slice plots FY26 profit turnaround

Livemint

Livemint · 2m ago

After years of burn, Slice plots FY26 profit turnaround

Slice, a fintech startup, transformed into a full-stack digital bank following its merger with North East Small Finance Bank, amid regulatory challenges. Previously hindered by an RBI circular in 2022 that impacted its credit line offerings via prepaid payment instruments, this strategic move helped Slice stabilize and revitalize its business model. The company, now operating as a regulated bank, aims for full-year profitability by FY26 after achieving monthly profitability.

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Slice SFB aiming to close FY26 in the black; not looking to raise any capital - The Economic Times

Economic Times

Economic Times · 2m ago

Slice SFB aiming to close FY26 in the black; not looking to raise any capital - The Economic Times

Slice Small Finance Bank, formed from a merger between fintech Slice and North East SFB, is now profitable monthly and targets FY26 for full-year profitability. The bank, led by Executive Director Rajan Bajaj, is well-capitalized and not seeking additional funds. Its strategy focuses on pan-India expansion via digital channels without further mergers. They aim to transition to a universal bank, expanding services like consumer credit and UPI-based credit cards, targeting underserved banking populations.

Exclusive: slice Doubles Down On Its Lending Play; Pilots Personal Loans Of Up To INR 5 Lakh

Inc42 · 1y ago

Exclusive: slice Doubles Down On Its Lending Play; Pilots Personal Loans Of Up To INR 5 Lakh

Slice, a fintech startup, is testing a new lending product called "slice personal loan." This product allows users to borrow up to INR 5 Lakh for a period of 5 years. While currently available to a limited number of users, slice plans to expand the offering to more customers in the near future. In a recent funding round, slice secured $20 million in debt funding from Neo Asset Management's Credit Opportunities Fund.

IFCI turns a corner with advisory biz; posts first profit in 7 years

Livemint

Livemint · 1y ago

IFCI turns a corner with advisory biz; posts first profit in 7 years

Government-owned non-bank IFCI Ltd has reported a profit of INR 128 crore in the financial year 2023-24, marking a turnaround after seven consecutive years of losses. The company expanded into government and private corporate advisory services, which contributed to the improved financial performance. IFCI's revenue increased by 19% to INR 896 crore. In recent years, the company focused on curtailing lending operations and expanding its advisory services. The government infused INR 500 crore into IFCI through equity shares, increasing its stake to 71.72%. IFCI's stock price has nearly tripled in the past year.

Fintech Slice merges with North East Small Finance Bank

Economic Times

Economic Times · 1y ago

Fintech Slice merges with North East Small Finance Bank

Fintech company Slice is set to acquire North East Small Finance Bank (NESFB) after receiving approval from the Reserve Bank of India (RBI). While awaiting shareholder consent and other regulatory approvals, Slice, backed by Tiger Global and RTP Global, plans to merge with NESFB. This move comes as Slice, originally an NBFC, faced the option of converting into a bank or acquiring one. The recent RBI directive prohibiting loading credit lines on prepaid cards affected Slice, prompting the merger.

Slice giving loans upto ₹5 lakh under new project: Sources

Inshorts · 1y ago

Slice giving loans upto ₹5 lakh under new project: Sources

Bengaluru-based fintech unicorn slice is piloting a new lending product under the name 'slice personal loan', under which users can avail a loan of up to ₹5 lakh for a tenure of 5 years (60 months), sources told Inc42. Currently, the product is being offered only to select users, the sources added.

Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x

Entrackr

Entrackr · 17d ago

Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x

Fintrackr All Stories Awfis posts Rs 335 Cr revenue in Q1 FY26; profit jumps 3.5x Co-working solutions provider Awfis has announced its financial results for the first quarter of FY26, registering decent growth in its revenue while more than tripling its profit in the first quarter of FY26. The company’s revenue from operations grew 30% year-on-year to Rs 335 crore in Q1 FY26 from Rs 258 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 18 crore which drove its total income to Rs 353 crore for the quarter. On a quarterly basis, the firm’s revenue fell 1.5% from Rs 340 crore in Q4 FY25. Founded in 2015, Awfis provides office spaces for startups, SMEs, and large corporations, along with services such as food and beverages, IT support, and infrastructure solutions. Revenue from co-working spaces remained the largest segment, growing 49% to Rs 276 crore in Q1 FY26 from Rs 185 crore in Q1 FY25. The construction and fit-out projects segment brought in Rs 58 crore, while other services contributed Rs 1 crore to the overall revenue in Q1 FY26. On the expense side, depreciation was the largest burn, standing at Rs 86 crore, whereas employee benefits expenses decreased to Rs 30 crore. Subcontracting expenses fell 15% YoY to Rs 47 crore. Finance costs amounted to Rs 46 crore, which pushed the firm’s total cost to Rs 343 crore in the previous quarter. Due to steady growth and controlled expenses, Awfis’ profit surged 3.5X to Rs 10 crore in Q1 FY26 from Rs 2.8 crore in Q1 FY25. Awfis has allotted 136,777 Employee Stock Options, currently valued at Rs 7.6 crore, as part of its 2024 Employee Stock Option Scheme. Awfis’ stock is trading at Rs 557 with a total market capitalization of Rs 3,971 crore (approximately $453 million).

All you need to know about Greater Noida Authority’s commercial plots scheme

Money Control

Money Control · 1y ago

All you need to know about Greater Noida Authority’s commercial plots scheme

The Greater Noida Industrial Development Authority (GNIDA) has launched a scheme for the sale of 12 commercial plots in Greater Noida. These plots will be used to build commercial complexes, malls, and other commercial stores. The plots are located across four different sectors and have good connectivity with the Yamuna Expressway and Eastern Peripheral Expressway. The sizes of the plots range between 3,600 and 10,600 square meters, with a reserve price of Rs 90,821 per square meter. The allotment will be done through an e-auction, and the payment can be made in full or through a 3-year installment plan. The plots have a floor area ratio of 4, allowing for more high-rise commercial buildings in the region.

A&M India appoints two former Accenture Strategy execs as MD

VCCircle

VCCircle · 9m ago

A&M India appoints two former Accenture Strategy execs as MD

Professional services and turnaround firm, Alvarez & Marsal (A&M) India, has named Jugnu Sakuja and Shubhra Goel as managing directors. The appointments come as the company aims to achieve five-fold growth over the next five years. Sakuja brings more than 18 years of consulting experience to the role, while Goel has over 20 years of experience in financial services and consulting. A&M provides advisory, business performance improvement, and turnaround management services.

Razorpay projects EBITDA breakeven in FY26

The Arc Web

The Arc Web · 9m ago

Razorpay projects EBITDA breakeven in FY26

Razorpay's management anticipates that the company's EBITDA loss will shrink further in FY25 before it declares a small EBITDA profit of $3-4 million in FY26. It has projected a topline of nearly $550-600 million for FY26.

Zepto Adds Real Estate to Quick Commerce Ahead of $5.4B IPO

StartupTalky

StartupTalky · 10d ago

Zepto Adds Real Estate to Quick Commerce Ahead of $5.4B IPO

Zepto has partnered with The House of Abhinandan Lodha to add real estate to its quick commerce offerings, promising land plots in ten minutes. Launched during the Janmashtami festival, the campaign shows expansive plots with a delivery partner holding a picture of them. It remains unclear if Zepto will showcase or sell the plots like real estate platforms 99acres or MagicBricks. Zepto is preparing for an IPO, with recent investments boosting its value.

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