The company, a leading technology-first gold loan non-banking financial company, recorded a significant milestone during FY26 by crossing INR 1,000 crore in Assets Under Management, reinforcing its growing footprint in India’s secured lending ecosystem. The Assets Under Management reached INR 1,096.1 crore, including off-book Assets Under Management of INR 21.03 crore, reflecting a sharp year-on-year increase of 149 percent and nearly tenfold growth compared to FY23. The company expanded its branch network from 73 to 105 branches across India, while active gold loan customers stood at 28,506 as of March 31, 2026. During the year, the company also raised approximately INR 111.5 crore to support expansion and strengthen its technology-led phygital strategy.
Finkurve achieved several strategic milestones during the financial year, including the listing of its shares on the National Stock Exchange, surpassing 100 technology-enabled gold loan branches, and entering South India with the launch of its first branch in Chennai. The board approved the appointment of Naveen Kottala as Chief Executive Officer with effect from November 18, 2025. The company also entered into a strategic co-lending partnership with Godrej Finance Limited under the Reserve Bank of India’s co-lending framework. In addition, Infomerics and CARE Ratings assigned and upgraded the company’s credit rating to BBB Plus with a stable outlook.
For the quarter ended March 31, 2026, Finkurve reported total income of INR 69.21 crore, marking a year-on-year growth of 71.21 percent compared to INR 40.43 crore in the corresponding quarter of the previous financial year. Net interest income rose to INR 47.44 crore, reflecting a 36.87 percent increase year-on-year. Profit before tax stood at INR 10.42 crore, registering a growth of 98.66 percent, while profit after tax reached INR 8.04 crore, reflecting a 105.46 percent increase. Basic earnings per share for the quarter stood at INR 0.58 compared to INR 0.31 in the same quarter of the previous year.
The company maintained strong operational efficiency and asset quality, reporting a gross non-performing asset ratio of 0.13 percent and a net non-performing asset ratio of 0.09 percent. The capital adequacy ratio stood at 30.96 percent, while cash and cash equivalents were reported at INR 102.12 crore, representing 8.28 percent of total assets, indicating strong liquidity position and financial stability.
On a full-year basis, total income stood at INR 209.86 crore compared to INR 141.09 crore in the previous year, representing growth of 48.75 percent. Profit before tax increased to INR 34.60 crore from INR 23.65 crore, reflecting a rise of 46.31 percent, while profit after tax increased to INR 26.03 crore from INR 17.43 crore, marking growth of 49.33 percent. Basic earnings per share rose to INR 1.89 from INR 1.37 in the previous year.
The company’s key operational indicators showed strong expansion momentum. Assets under Management reached INR 1,096 crore compared to INR 440 crore in the previous year, reflecting 149.09 percent growth. The branch network expanded by 43.84 percent year-on-year to 105 branches. Average gold loan per branch increased to INR 9.9 crore from INR 5.3 crore, reflecting strong portfolio deepening. Return on average loan assets stood at 3.33 percent compared to 3.82 percent, while return on average equity improved to 9.45 percent from 7.66 percent. The debt-to-equity ratio stood at 2.4 compared to 1.2 in the previous year, while the capital adequacy ratio stood at 30.96 percent compared to 44.94 percent.
Commenting on the performance, Executive Director Priyank Kothari stated that the quarter represents a defining phase in the company’s growth journey, highlighting that Assets under Management crossing INR 1,000 crore and reaching INR 1,096 crore reflects strong momentum across the gold loan franchise and increasing confidence from customers and lending partners. He added that branch expansion and the co-lending partnership with Godrej Finance Limited represent key milestones in building a scalable business model. He further emphasized that asset quality remains strong with net non-performing assets at 0.09 percent, supported by a healthy capital adequacy ratio and comfortable liquidity position, while the company continues to invest in technology, branch expansion, and diversified funding sources with a strong focus on risk management, operational discipline, and customer centricity.
Finkurve Financial Services Limited, also known by its brand name Arvog, is a Reserve Bank of India registered non-deposit-taking middle-layer non-banking financial company established in 1984 as Sanjay Leasing Limited and obtaining its non-banking financial company license in 1998. The company was acquired by its promoters in 2010 and primarily focuses on gold loans, which constitute the majority of its Assets under Management, along with personal loans and small and medium enterprise loans. It also maintains a strategic partnership with Augmont Goldtech, India’s largest fully integrated gold platform, strengthening its position in India’s gold financial services ecosystem.
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