The company announced its financial performance for the quarter and half year ended September 30, 2026, alongside an expansion in its branch network and an increase in active gold loan customers.
Finkurve's AUM increased from Rs 671 crore in Q2 FY26 to Rs 1,312 crore in Q2 FY27, including off-book AUM of Rs 78 crore. Its branch network expanded by 32.6% year-on-year, rising from 92 branches to 122 branches. The number of active gold loan customers stood at 33,019 as of September 30, 2026.
Average gold loan per branch increased by 58% year-on-year, reaching Rs 10.4 crore in Q2 FY27 compared with Rs 6.6 crore in the corresponding quarter of the previous financial year.
The company's total income rose from Rs 48 crore in Q2 FY26 to Rs 90 crore in Q2 FY27, registering growth of 87.8%. Profit before tax (PBT) increased by 75.3% to Rs 13 crore from Rs 7 crore, while profit after tax climbed 62.2% to Rs 10 crore from Rs 6 crore. Basic earnings per share (EPS) increased by 61.9% to Rs 0.68 from Rs 0.42.
On a quarter-on-quarter basis, total income grew 19.2% from Rs 76 crore in Q1 FY27 to Rs 90 crore in Q2 FY27. PBT increased 15.7% from Rs 11 crore to Rs 13 crore, while PAT rose 13.8% from Rs 8 crore to Rs 10 crore. Basic EPS improved 13.3% from Rs 0.60 to Rs 0.68.
For the first half of FY27, total income stood at Rs 166 crore, compared with Rs 88 crore in H1 FY26, registering year-on-year growth of 88.5%. PBT increased 69.9% from Rs 14 crore to Rs 24 crore, while PAT grew 63.9% from Rs 11 crore to Rs 18 crore. Basic EPS rose 59.3% from Rs 0.81 to Rs 1.29.
The company's gross non-performing assets (NPA) stood at 2.63%, while net NPA was reported at 2.37%. Its capital adequacy ratio was 28.74% in Q2 FY27, compared with 47.1% in Q2 FY26. Return on average loan assets stood at 3.0%, against 3.9% in the year-ago quarter, while return on average equity improved to 10.7% from 7.3%. The debt-to-equity ratio increased to 2.53 from 1.14.
Among its key developments, Finkurve successfully completed the second tranche with Franklin Templeton through a non-convertible debenture (NCD) issuance aggregating Rs 50 crore, marking the company's first-ever Alternative Investment Fund (AIF) investment.
The company also strengthened its Board with the appointment of Mr. Rajendran Chinna Veerappan as an Additional Director in the Non-Executive, Non-Independent category.
As part of its governance and risk management initiatives, Finkurve appointed Mr. Raju Shah as Chief Risk Officer and Mr. Husain Pittalwala as Chief Compliance Officer, expanding its leadership structure.
Its co-lending contribution increased to 6% in Q2 FY27 from 1.6% in Q2 FY26, indicating an increase in the contribution of co-lending to its business operations.
Commenting on the company's performance, Mr. Priyank Kothari, Executive Director, said Q2 FY27 marked another quarter of strong business momentum, with AUM increasing 95.4% year-on-year to Rs 1,312 crore, including off-book AUM of Rs 78 crore.
He said the company's technology-enabled branch network had expanded to 122 branches from 92 a year earlier. Average gold loan per branch also increased to Rs 10.4 crore from Rs 6.6 crore, reflecting improvements in branch productivity and operating efficiency.
Kothari said the company's focus remained on developing a scalable gold lending business through technology, operational discipline and prudent risk management. He added that PAT increased 62.2% year-on-year to Rs 9.6 crore, while the capital adequacy ratio stood at 28.7%, providing a capital base to support growth.
Looking ahead to the second half of FY27, he said the company aims to deepen its presence in the gold loan market, expand its distribution network and strengthen branch productivity. Its priorities will continue to include technology-led operations, diversified funding, robust governance and customer experience to support sustainable long-term growth.
Finkurve Financial Services Limited, which operates under the brand name Arvog, is an NBFC registered with the Reserve Bank of India (RBI) as a non-deposit-taking, Middle-layer NBFC. The company was established in 1984 as Sanjay Leasing Ltd., obtained its NBFC licence in 1998 and was acquired by the Promoters in 2010.
Finkurve primarily focuses on gold loans, which account for the majority of its AUM. The company also offers personal loans and expands its financial services through partnerships with fintech companies.
It has a strategic tie-up with Augmont Goldtech, described as India's largest fully integrated gold platform and a one-stop destination for gold-related needs. With an expanding presence across India, Finkurve continues to focus on providing accessible, technology-driven financial services to a broad customer base.
Further information about the company is available on its official website, www.arvog.com.
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