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Groww Creditserv’s Loan Book Grows 31% QoQ To INR 965.44 Cr At The End Of June Quarter

Inc42 · 11m ago

Groww Creditserv’s Loan Book Grows 31% QoQ To INR 965.44 Cr At The End Of June Quarter

Groww Creditserv, an NBFC of invest tech unicorn Groww, reported a loss of INR 24.1 Cr in FY24, compared to a loss of INR 2.8 Cr in FY23. According to rating agency ICRA, personal loans constituted 98% of the total loan book, while consumer durable loans made up the rest. Groww Creditserv obtained an NBFC license from RBI in late 2022.

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Groww Creditserv’s loan book grows to Rs 965 crore by June

Economic Times

Economic Times · 10m ago

Groww Creditserv’s loan book grows to Rs 965 crore by June

- Groww Creditserv Technologies (GCS), the NBFC arm of Groww, witnessed a significant increase in its proprietary loan book, reaching around Rs 965 crore as of June 2024. - GCS, a wholly owned subsidiary of Billionbrains Garage Ventures, primarily focuses on providing personal loans and consumer durable loans for household essentials. - GCS started its full-scale operations in April 2023, initially offering unsecured loans, and later expanded its consumer durable lending business to Karnataka and Tamil Nadu. - In July 2024, GCS completed a pass-through certificate transaction, selling loan assets to investors and plans to issue non-convertible debentures (NCDs) to support its growth. - Groww's core broking business reported a net profit of Rs 297 crore in 2023-24, four times higher than the previous financial year, solidifying its position as the largest broking platform in India with over 10 million active investors. - Earlier this year, Groww relocated its domicile to India from the US, aligning with the growing trend among Indian startups to leverage India's maturing startup ecosystem.

Satya Nadella-backed Groww NBFC expands loan book to $115 million

Inshorts · 11m ago

Satya Nadella-backed Groww NBFC expands loan book to $115 million

Groww Creditserv, the non-banking financial company owned by investment platform Groww, had built a proprietary loan book of ₹965 crore ($115 million) as of June 2024, as per a report by credit rating agency ICRA. This is a notable bump from ₹731 crore ($87 million) as of March 2024.

Credit growth takes a beating in first quarter

Economic Times

Economic Times · 1m ago

Credit growth takes a beating in first quarter

In the June quarter, Indian banks experienced slow credit growth, with private lenders growing at less than half of the previous year's rate. HDFC Bank, for instance, saw a loan book expansion of just 6.7%, a decrease from 14.9% the previous year. Public sector banks fared slightly better due to aggressive loan pricing. The slowdown is attributed to corporations accessing capital markets for cheaper funds, resulting in a surge in resource mobilization and reduced reliance on bank credit.

Bottomline: Amicus-backed Berar Finance's loan book grows but bad debts weigh

VCCircle

VCCircle · 8m ago

Bottomline: Amicus-backed Berar Finance's loan book grows but bad debts weigh

Nagpur-based Berar Finance, backed by Amicus Capital, reported an increase in profits for the financial year ending March 2024. However, the growth was mainly driven by an expanding loan book, as the company continued to struggle with bad debts and asset quality issues.

LIC Housing Finance plans to raise funds through green bonds in FY25

Livemint

Livemint · 1y ago

LIC Housing Finance plans to raise funds through green bonds in FY25

LIC Housing Finance Ltd (LICHFL) plans to raise funds through green bonds in the next financial year to finance environmentally-sustainable housing projects. The company aims to hit a net profit of ₹5,000 crore by the end of the current financial year, driven by strong loan demand and expansion in non-core businesses. LICHFL is focusing on affordable housing loans and aims to double the share of these loans to 20-25% in its loan book over the next two years. The company has reported a net interest margin of 3% for the third quarter.

MapMyIndia posts Rs 122 Cr revenue in Q1 FY26, profit grows 28%

Entrackr

Entrackr · 17d ago

MapMyIndia posts Rs 122 Cr revenue in Q1 FY26, profit grows 28%

CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the first quarter of FY26. The company reported a year-on-year revenue growth of over 21% compared to Q1 FY25. MapMyIndia’s revenue from operations increased to Rs 122 crore in Q1 FY26 from Rs 101 crore in Q1 FY25, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). On a quarter-on-quarter basis, MapMyIndia’s operating revenue fell 15% to Rs 122 crore in Q1 FY26 from Rs 144 crore in Q4 FY25. Income from digital map data, GPS navigation, location-based services, and IoT was the primary source of revenue for MapMyIndia, accounting for 93% of the total collection. This revenue source increased by 23% to Rs 114 crore in Q1 FY26. However, income from the sale of its devices generated Rs 8 crore in the quarter ending June 2025. The cost of IoT devices, employee benefits, and outsourced technical services were the major cost elements, pushing the total cost of the firm to Rs 73 crore in Q1 FY26, up from Rs 64 crore in Q1 FY25. With the increase in scale, MapMyIndia recorded a 28% increase in its profit to Rs 46 crore during Q1 FY26, compared to Rs 36 crore in the first quarter of the previous fiscal year. The company’s EBITDA stood at Rs 68 crore for the quarter. In Q1 FY26, MapMyIndia invested Rs 25 Cr to raise its stake in IoT subsidiary Gtropy Systems from 75.98% to 96%, reinforcing its focus on fleet tech and telematics. It also invested Rs 25 Cr in Zepto, acquiring a 0.049% stake to strengthen its presence in the fast-growing quick commerce space. At the end of the day on 7th Aug 2025, MapMyIndia closed at Rs 1,759.9 per share, with a market capitalization of Rs 10,040 crore ($1.09 billion).

Groww’s Active Investor Base Doubles In One Year, Touches Almost 11 Mn

Inc42 · 1y ago

Groww’s Active Investor Base Doubles In One Year, Touches Almost 11 Mn

According to a report by Moneycontrol, Groww had approximately 5.65 million users in the same period last year. In June, Groww gained over 550,000 users, while Angel One and Zerodha added 220,000 and 150,000 users, respectively, according to NSE data. Groww surpassed Zerodha with 6.63 million active investors at the end of September 2023, compared to Zerodha's 6.48 million, becoming the leader in terms of active investor base.

Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

Entrackr

Entrackr · 1y ago

Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

Paytm Money, the trading platform owned by One97 Communications, reported a two-fold growth in scale and achieved profitability in FY23. Its operating revenue increased to Rs 131.3 crore, with income from brokerage and depository services being the primary source. The company posted a profit of Rs 42 crore, compared to a loss of Rs 10.72 crore in FY22. Despite competition from rivals like Groww and Zerodha, Paytm Money's focus on commission income and the expanding market has contributed to its success.

FirstCry parent’s revenue grows 26% in Q2 FY25; controls losses

Entrackr

Entrackr · 9m ago

FirstCry parent’s revenue grows 26% in Q2 FY25; controls losses

FirstCry also added Rs 31 crore as interest income which took the overall revenue to Rs 1,936 crore in Q2 FY25, compared to Rs 1,528 crore in Q2 FY24. The current quarter's losses were Rs 62.8 crore, a reduction of 47.4% from previous quarters. The total expenditure for the current quarter was Rs 1,848 crore, with a cost of procurement at 64.6% amounting to Rs 1,194 crore. Employee benefits for the current quarter were Rs 165 crore, including an ESOP cost of Rs 21 crore. The market capitalization stands at Rs 26,987 crore with a current stock price of Rs 519.8.

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31%

Entrackr

Entrackr · 2m ago

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31%

Blackbuck posts Rs 41 Cr PBT in Q4 FY25, revenue grows 31% Blackbuck's revenue from operations grew to Rs 122 crore in Q4 FY25 from Rs 93 crore in Q4 FY24, its financial statements sourced from the National Stock Exchange show. Online trucking platform Blackbuck has released its quarterly report for the financial year ending March 2025. The Bengaluru-based company reported a 31% year-on-year growth in scale in Q4 FY25 and turned profitable, posting a profit before tax (PBT) of Rs 41 crore in the quarter. For the full fiscal year (FY25), Blackbuck’s operating revenue increased 44% to Rs 427 crore in FY25 from Rs 297 crore in FY24. Revenue from its truck operator services was the primary source of revenue, accounting for 98% of total operating revenue. The company also made Rs 15 crore from interest income which took its overall revenue to Rs 137 crore in Q4 FY25, compared to Rs 99 crore in Q4 FY24. For the full fiscal year, the firm’s total revenue stood at Rs 462 crore in FY25. Looking at the expenses, the employee benefit cost accounted for 35% of the overall expenditure which fell 74% year-on-year to Rs 33 crore in Q4 FY25 from Rs 128 crore in Q4 FY24. Depreciation and other operating expenses were key overheads that drove total expenditure to Rs 95 crore in Q4 FY25, compared to Rs 187 crore in the same quarter last year. For the fiscal year ending March 2025, the firm’s total expenses fell to Rs 371 crore as compared to Rs 483 crore in FY24. Blackbuck booked profit before tax of Rs 41 crore in Q4 FY25, as compared to a loss of Rs 87 crore in Q4 FY24. Meanwhile, for the full fiscal year ended March 2025, the company remained at a loss of Rs 283 crore (before tax), 69% more than Rs 167 crore in FY24. Blackbuck debuted on the stock exchange at Rs 208.90 and is now trading at Rs 459 on May 27, bringing its total market capitalization to Rs 8,180 crore.

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