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Finkurve Appoints Siddharth Purandare as CEO Post Naveen Kottala's Exit; Grants 4.5 Lakh ESOPs
Finkurve Financial Services announced the resignation of CEO Naveen Kottala effective October 20, 2026, and appointed Siddharth Purandare as the new CEO effective December 13, 2026. The incoming CEO brings over 23 years of financial services experience, having previously worked at Edelweiss Retail Finance and AVANA Companies. Additionally, the Board appointed Hussain Mohammed Pittalwala as Chief Compliance Officer effective October 1, 2026, and granted 4,50,000 ESOPs at an exercise price of Rs 65 per share. The company is also transitioning its Registrar & Transfer Agent (RTA) to Purva Sharegistry from MUFG Intime India.
Confidence: HIGH
What changedTop executive transition with the resignation of existing CEO Naveen Kottala and appointment of Siddharth Purandare as CEO, alongside key compliance and administrative appointments.
Why it mattersA change in leadership is pivotal as the NBFC pursues an aggressive scale-up strategy targeting a Rs 10,000 Cr loan book by 2029.
ESOPs granted: 4,50,000ESOP exercise price: Rs 65 per optionIncoming CEO effective date: December 13, 2026Outgoing CEO exit date: October 20, 2026
📅 Short termThere is an interim gap between October 20 and December 13, 2026, before the incoming CEO assumes office; operational continuity will be monitored.
📈 Long termThe new CEO brings deep MSME credit and co-lending experience, which could support the firm's planned expansion across gold loans and partnership networks.
⚠ Risk flags
- Transition period gap between outgoing CEO's departure (Oct 20, 2026) and incoming CEO's start (Dec 13, 2026)
- Execution risk under new leadership while managing aggressive loan book growth targets
Key Highlights
CEO Naveen Kottala resigns effective close of business hours on October 20, 2026
Siddharth Purandare appointed as new CEO effective December 13, 2026
Grant of 4,50,000 ESOPs at an exercise price of Rs 65 per share under Finkurve ESOP Plan -2018
Hussain Mohammed Pittalwala appointed Chief Compliance Officer effective October 1, 2026
Transition of RTA from MUFG Intime India to Purva Sharegistry approved
👀 What to Watch
Track the leadership handover between October 20 and December 13, 2026, and watch for any strategic commentary from the incoming CEO regarding the gold loan growth target and branch expansion.
Finkurve Appoints Siddharth Purandare as CEO Post Naveen Kottala's Exit; Grants 4.5 Lakh ESOPs
Finkurve Financial Services announced the resignation of CEO Naveen Kottala effective October 20, 2026, and appointed Siddharth Purandare as the new CEO effective December 13, 2026. The incoming CEO brings over 23 years of financial services experience, having previously worked at Edelweiss Retail Finance and AVANA Companies. Additionally, the Board appointed Hussain Mohammed Pittalwala as Chief Compliance Officer effective October 1, 2026, and granted 4,50,000 ESOPs at an exercise price of Rs 65 per share. The company is also transitioning its Registrar & Transfer Agent (RTA) to Purva Sharegistry from MUFG Intime India.
Confidence: HIGH
What changedTop executive transition with the resignation of existing CEO Naveen Kottala and appointment of Siddharth Purandare as CEO, alongside key compliance and administrative appointments.
Why it mattersA change in leadership is pivotal as the NBFC pursues an aggressive scale-up strategy targeting a Rs 10,000 Cr loan book by 2029.
ESOPs granted: 4,50,000ESOP exercise price: Rs 65 per optionIncoming CEO effective date: December 13, 2026Outgoing CEO exit date: October 20, 2026
📅 Short termThere is an interim gap between October 20 and December 13, 2026, before the incoming CEO assumes office; operational continuity will be monitored.
📈 Long termThe new CEO brings deep MSME credit and co-lending experience, which could support the firm's planned expansion across gold loans and partnership networks.
⚠ Risk flags
- Transition period gap between outgoing CEO's departure (Oct 20, 2026) and incoming CEO's start (Dec 13, 2026)
- Execution risk under new leadership while managing aggressive loan book growth targets
Key Highlights
CEO Naveen Kottala resigns effective close of business hours on October 20, 2026
Siddharth Purandare appointed as new CEO effective December 13, 2026
Grant of 4,50,000 ESOPs at an exercise price of Rs 65 per share under Finkurve ESOP Plan -2018
Hussain Mohammed Pittalwala appointed Chief Compliance Officer effective October 1, 2026
Transition of RTA from MUFG Intime India to Purva Sharegistry approved
👀 What to Watch
Track the leadership handover between October 20 and December 13, 2026, and watch for any strategic commentary from the incoming CEO regarding the gold loan growth target and branch expansion.
Finkurve Appoints Siddharth Purandare as CEO Post Naveen Kottala's Exit; Grants 4.5 Lakh ESOPs
Finkurve Financial Services announced the resignation of CEO Naveen Kottala effective October 20, 2026, and appointed Siddharth Purandare as the new CEO effective December 13, 2026. The incoming CEO brings over 23 years of financial services experience, having previously worked at Edelweiss Retail Finance and AVANA Companies. Additionally, the Board appointed Hussain Mohammed Pittalwala as Chief Compliance Officer effective October 1, 2026, and granted 4,50,000 ESOPs at an exercise price of Rs 65 per share. The company is also transitioning its Registrar & Transfer Agent (RTA) to Purva Sharegistry from MUFG Intime India.
Confidence: HIGH
What changedTop executive transition with the resignation of existing CEO Naveen Kottala and appointment of Siddharth Purandare as CEO, alongside key compliance and administrative appointments.
Why it mattersA change in leadership is pivotal as the NBFC pursues an aggressive scale-up strategy targeting a Rs 10,000 Cr loan book by 2029.
ESOPs granted: 4,50,000ESOP exercise price: Rs 65 per optionIncoming CEO effective date: December 13, 2026Outgoing CEO exit date: October 20, 2026
📅 Short termThere is an interim gap between October 20 and December 13, 2026, before the incoming CEO assumes office; operational continuity will be monitored.
📈 Long termThe new CEO brings deep MSME credit and co-lending experience, which could support the firm's planned expansion across gold loans and partnership networks.
⚠ Risk flags
- Transition period gap between outgoing CEO's departure (Oct 20, 2026) and incoming CEO's start (Dec 13, 2026)
- Execution risk under new leadership while managing aggressive loan book growth targets
Key Highlights
CEO Naveen Kottala resigns effective close of business hours on October 20, 2026
Siddharth Purandare appointed as new CEO effective December 13, 2026
Grant of 4,50,000 ESOPs at an exercise price of Rs 65 per share under Finkurve ESOP Plan -2018
Hussain Mohammed Pittalwala appointed Chief Compliance Officer effective October 1, 2026
Transition of RTA from MUFG Intime India to Purva Sharegistry approved
👀 What to Watch
Track the leadership handover between October 20 and December 13, 2026, and watch for any strategic commentary from the incoming CEO regarding the gold loan growth target and branch expansion.
Finkurve Appoints Siddharth Purandare as CEO; Grants 4.5 Lakh ESOPs at Rs 65
Finkurve Financial Services announced a leadership transition with the resignation of CEO Naveen Kottala effective October 20, 2026, and the appointment of Siddharth Purandare as CEO effective December 13, 2026. The Board also appointed Hussain Mohammed Pittalwala as Chief Compliance Officer effective October 1, 2026, complying with RBI directions. Additionally, the company approved the grant of 4,50,000 ESOPs at an exercise price of Rs 65 per share under its 2018 plan. The company is also changing its Registrar and Transfer Agent to Purva Sharegistry (India) Private Limited.
Confidence: HIGH
What changedCEO Naveen Kottala has resigned, and industry veteran Siddharth Purandare will take over as CEO on December 13, 2026, alongside appointments in compliance and RTA shifts.
Why it mattersA top-level leadership change is critical for an NBFC scaling rapidly toward a targeted INR 10,000 Cr book, particularly in managing credit risk and bank co-lending partnerships.
ESOPs granted: 4,50,000ESOP exercise price: Rs. 65/- per optionOutgoing CEO exit date: October 20, 2026Incoming CEO start date: December 13, 2026
📅 Short termWatch for smooth interim operations during the nearly two-month gap between the outgoing CEO's exit and the new CEO's assumption of duties.
📈 Long termSiddharth Purandare's 23+ years of experience across MSME/retail lending and credit risk at Edelweiss and AVANA could strengthen institutional underwriting and co-lending partnerships.
⚠ Risk flags
- Leadership transition gap of nearly two months between October 20, 2026 and December 13, 2026
- Execution continuity risk during rapid expansion
Key Highlights
Siddharth Purandare appointed as CEO effective December 13, 2026
Current CEO Naveen Kottala resigns effective October 20, 2026, creating an interim transition period until December 13, 2026
Approved grant of 4,50,000 ESOPs at an exercise price of Rs 65 per share
Hussain Mohammed Pittalwala appointed Chief Compliance Officer effective October 1, 2026
RTA changed from MUFG Intime India to Purva Sharegistry
👀 What to Watch
Track the leadership handover process between October 20 and December 13, 2026, and monitor if strategic execution toward the INR 10,000 Cr loan book target faces any operational friction.
Finkurve Q1 FY27 Earnings Call: AUM Up 135% YoY, Revenue Up 89%, Branch Count at 118
Finkurve Financial Services released the transcript for its Q1 FY27 earnings conference call. The company reported a 135% YoY increase in AUM and an 89% YoY growth in revenue, while PAT increased by 65% YoY. Asset quality remained stable with Gross NPA at 0.54% and Net NPA at 0.48%, alongside a healthy Capital Adequacy Ratio of 26.6%. The company also expanded its branch network by 42% YoY to 118 branches, with current average AUM per branch at Rs. 10.3 crore against a target of Rs. 12-13 crore.
Confidence: HIGH
What changedFinkurve shared its Q1 FY27 earnings conference call transcript, providing detailed operational metrics, branch-level economics, and growth outlook.
Why it mattersDemonstrates rapid expansion in its gold loan portfolio and branch network, supported by institutional funding access and low reported NPA levels.
AUM YoY Growth: 135%Revenue YoY Growth: 89%PAT YoY Growth: 65%Gross NPA / Net NPA: 0.54% / 0.48%Branch Count: 118Institutional NCD (Franklin Templeton): Rs. 50 crores
📅 Short termEarnings transcript provides detailed clarity on branch economics and funding additions, supporting investor understanding post-results.
📈 Long termSupports the company's long-term roadmap towards scaling its gold loan franchise, provided branch productivity targets (Rs. 12-13 cr AUM) and asset quality are sustained amidst gold price fluctuations.
⚠ Risk flags
- Leverage increase: Debt-to-equity increased from 0.7x to 2.9x as of June 30
- Gold price volatility and regulatory alignment challenges across the gold loan sector
Key Highlights
AUM grew 135% YoY while revenue and PAT increased by 89% and 65% YoY respectively in Q1 FY27
Branch network expanded 42% YoY from 83 to 118 branches as of June 30, 2026
Asset quality maintained with GNPA at 0.54% and NNPA at 0.48%; Capital Adequacy Ratio stood at 26.6%
Average AUM per branch reached Rs. 10.3 crore, targeting Rs. 12 to 13 crore; breakeven AUM per branch is Rs. 5 to 6 crore
Secured institutional NCD subscription of Rs. 50 crore from Franklin Templeton in two tranches
👀 What to Watch
Track the branch breakeven progression (targeted at 12-18 months) and AUM growth in Q2/Q3 FY27 to see if the 50-60% overall growth guidance is maintained.
134.5% AUM Growth: Finkurve Reports ₹8.44 Cr PAT and 118 Branches in Q1 FY27
Finkurve Financial Services (Arvog) reported a robust Q1 FY27 with Assets Under Management (AUM) surging 134.5% YoY to ₹1,270.4 Cr. Total income grew 89.4% YoY to ₹75.82 Cr, while Profit After Tax (PAT) increased 65.8% to ₹8.44 Cr. The company maintained strong asset quality with a Gross NPA of 0.54% and expanded its branch network to 118 locations. Notably, the company secured its first AIF investor, Franklin Templeton, through a ₹50 Cr NCD issuance.
Confidence: HIGH
What changedThe company has significantly accelerated its scaling phase, nearly doubling its income and more than doubling its AUM YoY, while transitioning to a more leveraged balance sheet with institutional debt participation.
Why it mattersThe results validate Finkurve's tech-led gold loan expansion strategy and its ability to attract institutional capital (Franklin Templeton), which is critical for reaching its long-term AUM targets.
AUM Growth (YoY): 134.5%Q1 FY27 PAT: ₹8.44 CrGross NPA: 0.54%Capital Adequacy Ratio: 26.6%Debt to Equity Ratio: 2.9xBranch Count: 118
📅 Short termThe market is likely to react positively to the high growth in AUM and stable asset quality, though the drop in Return on Average Loan Assets (from 4.2% to 2.9%) may be noted.
📈 Long termThe company is on a high-growth trajectory toward a ₹10,000 Cr AUM target; long-term success depends on managing gold price volatility risks and maintaining low NPAs during rapid branch expansion.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Increased leverage (D/E at 2.9x)
- Gold price volatility impact on LTV
- High concentration in gold loans (91% of portfolio)
Key Highlights
AUM grew 134.5% YoY to ₹1,270.4 Cr, including an off-book AUM of ₹38 Cr
Net Profit (PAT) rose 65.8% YoY to ₹8.44 Cr from ₹5.09 Cr
Branch network expanded by 42.2% YoY, reaching 118 branches compared to 83 in Q1 FY26
Gross NPA and Net NPA remained low at 0.54% and 0.48% respectively
Debt-to-Equity ratio increased significantly to 2.9x from 0.7x YoY, indicating aggressive leverage for growth
👀 What to Watch
Monitor the sustainability of the 100%+ AUM growth and the impact of the increased Debt-to-Equity ratio (2.9x) on interest margins. Watch for branch productivity metrics as the company scales toward its ₹10,000 Cr AUM target by 2029.
134.5% AUM Growth to ₹1,270 Cr; Finkurve Reports 65.8% YoY PAT Rise in Q1 FY27
Finkurve Financial Services (Arvog) delivered strong growth in Q1 FY27, with Assets Under Management (AUM) surging 134.5% YoY to ₹1,270.4 Cr. Net Profit (PAT) grew 65.8% YoY to ₹8.4 Cr, supported by a 42% expansion in the branch network to 118 locations. However, asset quality showed slight pressure as Net NPA rose to 0.48% from 0.17% a year ago. The company is aggressively leveraging its balance sheet, with Debt-to-Equity increasing to 2.88x from 0.73x, to fund its ambitious ₹10,000 Cr AUM target by 2029.
Confidence: HIGH
What changedFinkurve has significantly accelerated its growth phase, doubling its AUM and expanding its physical footprint while increasing its leverage to nearly 3x to support gold loan disbursements.
Why it mattersThe company is successfully leveraging the Augmont Group's gold ecosystem to scale its lending business; achieving the ₹10,000 Cr AUM target would represent a nearly 8x growth from current levels.
AUM (Q1 FY27): ₹1,270.4 CrPAT (Q1 FY27): ₹8.4 CrNet NPA: 0.48%Debt-to-Equity Ratio: 2.88xBranch Count: 118
📅 Short termThe strong AUM and revenue growth figures are likely to be viewed positively by the market in the coming weeks, though the rise in NPAs and leverage warrants caution.
📈 Long termThe company is structurally pivoting toward a large-scale gold lending model with a clear roadmap to 2029; long-term value depends on maintaining asset quality during rapid expansion.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Rising Net NPA (0.48% vs 0.17% YoY)
- Sharp increase in leverage (2.88x vs 0.73x YoY)
- High finance cost growth (₹26.72 Cr vs ₹7.08 Cr YoY)
Key Highlights
AUM increased 134.5% YoY to ₹1,270.4 Cr in Q1 FY27, up from ₹541.8 Cr in Q1 FY26.
Net Profit (PAT) grew 65.8% YoY to ₹8.4 Cr, while Total Income rose 89.4% YoY to ₹75.82 Cr.
Branch network expanded to 118 centers, a 42.2% increase from 83 branches in the previous year.
Gold under management reached 1,167.5 Kgs, representing a 46.6% YoY growth.
Leverage (Debt-to-Equity) rose significantly to 2.88x compared to 0.73x in Q1 FY26.
👀 What to Watch
Investors should monitor the trajectory of Net NPAs, which increased by 31 bps YoY, and the impact of rising finance costs (up 277% YoY) on net interest margins as the company scales its borrowing.
₹8.44 Cr Q1 Profit: Finkurve Net Profit up 66% YoY; Board seeks ₹5,000 Cr borrowing limit
Finkurve Financial Services reported a strong Q1 FY27 with total income rising 89% YoY to ₹75.82 crore, primarily driven by a 181% surge in interest income to ₹74.79 crore. Net profit grew 65.7% YoY to ₹8.44 crore, while asset quality remained robust with a Gross NPA of 0.54%. Crucially, the board has proposed increasing the borrowing limit to ₹5,000 crore (subject to shareholder approval) to support its long-term goal of a ₹10,000 crore loan book by 2029. The company also approved the issuance of Non-Convertible Debentures (NCDs) on a private placement basis.
Confidence: HIGH
What changedThe company has transitioned into a high-growth phase with nearly doubled revenue and is now seeking a massive expansion in its capital-raising capacity to ₹5,000 crore.
Why it mattersThe sharp rise in interest income validates the company's pivot toward gold loans and co-lending. The proposed borrowing limit is a critical enabler for their target to reach a ₹10,000 crore AUM by 2029, representing a significant potential scale-up from current levels.
Net Profit (Q1 FY27): ₹8.44 crInterest Income Growth (YoY): 181%Proposed Borrowing Limit: ₹5,000 crCapital Adequacy Ratio (CRAR): 26.63%Net Worth: ₹354.37 crGross NPA: 0.54%
📅 Short termThe strong earnings growth and low NPA levels are likely to be viewed positively by the market in the coming weeks.
📈 Long termThe structural shift toward a ₹5,000 crore borrowing capacity suggests a major expansion phase; if executed without diluting asset quality, it could significantly re-rate the company's valuation.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Sharp increase in finance costs (up 277% YoY)
- High volume of material related-party transactions with Augmont Goldtech
- Potential for high leverage if the ₹5,000 cr borrowing limit is fully utilized
Key Highlights
Total Income grew 89.4% YoY to ₹75.82 crore in Q1 FY27 compared to ₹40.04 crore in Q1 FY26.
Net Profit increased 65.7% YoY to ₹8.44 crore from ₹5.09 crore in the previous year's quarter.
Interest income surged 181% YoY to ₹74.79 crore, reflecting aggressive scaling in the gold loan segment.
Proposed a significant increase in borrowing limits to ₹5,000 crore, which is ~14x the current net worth of ₹354.37 crore.
Asset quality remains healthy with Gross NPA at 0.54% and Net NPA at 0.48% as of June 30, 2026.
👀 What to Watch
Monitor the upcoming shareholder vote on the ₹5,000 crore borrowing limit and the subsequent execution of NCD issuances. Investors should also track the impact of rising finance costs, which increased 277% YoY to ₹26.72 crore, on overall net interest margins.
Finkurve Q2 Net Profit Jumps 70% to ₹5.92 Cr; Clarifies Regulatory Queries
Finkurve Financial Services (Arvog) reported a strong Q2 FY26 with net profit rising 70.6% year-on-year to ₹5.92 crore. Total revenue from operations grew 50.6% to ₹48.05 crore, driven by a significant increase in interest income. The company clarified to the NSE that previous filing issues were technical and confirmed the appointment of Naveen Kottala as the new CEO. Asset quality shows Gross NPA at ₹7.49 crore, while the capital adequacy ratio (CRAR) stands healthy at 47.13%.
Key Highlights
Net profit for Q2 FY26 increased to ₹5.92 crore from ₹3.47 crore in the same quarter last year.
Total revenue from operations rose 50.6% YoY to ₹48.05 crore, led by interest income of ₹34.03 crore.
Capital Adequacy Ratio (CRAR) remains robust at 47.13%, with Tier I CRAR at 46.89%.
Company reported an off-book AUM of ₹10.40 crore through its new co-lending gold loan business.
Naveen Kottala was appointed as the Chief Executive Officer (CEO) effective November 18, 2025.
👀 What to Watch
Investors should take note of the strong growth in interest income and healthy capital buffers. The resolution of the NSE's technical queries and the appointment of a new CEO provide operational clarity.
Finkurve to raise Rs 50 Crore via NCDs at 11.55% coupon; appoints new CRO and Compliance Head
Finkurve Financial Services has approved a fundraise of Rs 50 crore through the private placement of secured, rated Non-Convertible Debentures (NCDs). The NCDs carry a coupon rate of 11.55% per annum with a tenure of approximately 34 months, maturing in April 2029. In a move to strengthen its leadership, the company also appointed Raju Bipinkumar Shah as Chief Risk Officer and Husain Mohammed Pittalwala as Compliance Head. These strategic appointments and capital infusion are aimed at supporting growth and enhancing risk governance.
Key Highlights
Approved raising Rs 50 crore through the issuance of 5,000 NCDs with a face value of Rs 1,00,000 each.
The NCDs offer a coupon rate of 11.55% payable quarterly, with a final maturity date of April 17, 2029.
Appointed Raju Bipinkumar Shah as Chief Risk Officer, who brings 21 years of experience from ICICI Bank, Citi, and Capri Global.
Appointed Husain Mohammed Pittalwala as Compliance Head to manage regulatory and legal functions.
The NCDs will be secured by a first ranking exclusive charge on identified receivables via hypothecation.
👀 What to Watch
Investors should monitor the company's deployment of this capital into high-yield assets to offset the 11.55% borrowing cost. The addition of a seasoned CRO is a positive sign for the company's credit risk management as it scales its portfolio.
Finkurve Financial to Raise ₹100 Crore via Secured NCDs at 11.33% Coupon
Finkurve Financial Services has approved the issuance of Non-Convertible Debentures (NCDs) totaling ₹100 Crores on a private placement basis. The issue consists of a ₹50 Crore base size and a ₹50 Crore green shoe option, with a fixed coupon rate of 11.33% per annum payable quarterly. The NCDs have a 24-month tenure, maturing on June 16, 2028, and are secured by a first-ranking charge on identified receivables. This capital raise is intended to support the company's financial operations and growth objectives.
Key Highlights
Total fundraise of up to ₹100 Crores through Rated, Listed, Senior, Secured NCDs.
Coupon rate fixed at 11.33% per annum with a quarterly interest payment schedule.
Instrument tenure is 24 months with a maturity date set for June 16, 2028.
Issue includes a ₹50 Crore base issue and a ₹50 Crore green shoe option.
NCDs will be listed on the BSE Limited and are secured by hypothecation of identified receivables.
👀 What to Watch
Investors should track the company's deployment of these funds into higher-yielding assets to ensure net interest margins remain healthy despite the 11.33% cost of debt. The successful placement of these NCDs reflects institutional confidence in the company's credit profile.
Finkurve Financial Assigned 'CARE BBB+; Stable' Rating for ₹100 Cr NCD Issue
CARE Ratings Limited has assigned a new 'CARE BBB+; Stable' rating to Finkurve Financial Services Limited for its proposed Non-Convertible Debenture (NCD) issue. The rating applies to an aggregate amount of ₹100 crore, indicating a moderate degree of safety regarding timely servicing of financial obligations. This credit rating is a prerequisite for the company to proceed with its planned debt fundraise from the market.
Key Highlights
CARE Ratings assigned a 'CARE BBB+; Stable' rating to the company's proposed NCDs.
The rating covers a total proposed issue size of ₹100 crore.
The rating is valid for a period of six months for the initial issue of the instrument.
This is a new rating assignment, providing a benchmark for the company's creditworthiness in the debt market.
👀 What to Watch
Investors should view this as a positive step for the company's capital-raising capabilities, though they should note that a BBB+ rating represents moderate credit risk. Monitor the final coupon rates and successful subscription of the NCDs to gauge market confidence.
Finkurve Board to Consider Raising ₹100 Crores via Non-Convertible Debentures
Finkurve Financial Services Limited has scheduled a board meeting on June 15, 2026, to deliberate on a capital raising proposal. The company intends to raise up to ₹100 Crores through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. These NCDs are proposed to have a face value of ₹10,000 each and will be issued via the Electronic Bidding Platform (EBP). This move is aimed at strengthening the company's financial position and supporting its lending or operational activities.
Key Highlights
Board meeting scheduled for June 15, 2026, to approve fundraise of up to ₹100 Crores.
Fundraising to be executed through the issuance of Non-Convertible Debentures (NCDs).
NCDs will have a face value and issue price of ₹10,000 per unit.
The issuance will be conducted via private placement through the Electronic Bidding Platform (EBP).
The proposal is subject to compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) 2015.
👀 What to Watch
Investors should watch for the board's final approval on June 15 and the subsequent disclosure of interest rates and tenure for the NCDs. This capital infusion is a positive sign for growth, but the resulting debt-to-equity ratio should be monitored.
Finkurve Financial to Seek Shareholder Nod for ₹200 Cr Related Party Loan Limit Increase
Finkurve Financial Services has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Rajendran Chinna Veerappan as a Non-Executive Director. A significant resolution involves doubling the borrowing limit from related party Aranath Real Estate Private Limited from ₹100 crore to ₹200 crore. Other existing related party loan limits, including ₹200 crore from Augmont Enterprises and ₹50 crore from Augmont Goldtech, remain unchanged. The e-voting period for these ordinary resolutions is set for June 08, 2026, to July 07, 2026.
Key Highlights
Proposed increase in loan limit from Aranath Real Estate Private Limited from ₹100 crore to ₹200 crore.
Regularization of Mr. Rajendran Chinna Veerappan as a Non-Executive, Non-Independent Director.
Total existing loan limits from other related parties like Augmont Enterprises (₹200 Cr) and Ideal Fiscal (₹50 Cr) remain unchanged.
E-voting period commences on June 08, 2026, and concludes on July 07, 2026.
The resolutions are being proposed as Ordinary Resolutions via electronic voting only.
👀 What to Watch
Investors should evaluate the necessity of increased related party borrowings and ensure that the interest rates and terms are competitive with market standards. Shareholders are encouraged to cast their votes during the e-voting window ending July 07.
Finkurve Board Approves Director Regularization and Related Party Loan Modifications
Finkurve Financial Services has approved the regularization of Mr. Rajendran Chinna Veerappan as a Non-Executive Director, bringing 44 years of banking expertise including roles as CEO of CSB Bank and CMD of Andhra Bank. The board also approved modifications to material related party transactions specifically involving the acceptance of loans from related parties. These resolutions are subject to shareholder approval via a forthcoming postal ballot. The meeting concluded within 45 minutes on June 03, 2026.
Key Highlights
Regularization of Mr. Rajendran Chinna Veerappan (DIN: 00460061) as a Non-Executive, Non-Independent Director.
Mr. Veerappan has over 44 years of experience, having served as CEO of CSB Bank and Association of Mutual Funds of India (AMFI).
Approval for modification of Material Related Party Transactions pertaining to the acceptance of loans from related parties.
Issuance of a Postal Ballot notice to seek shareholder approval for the director appointment and loan modifications.
👀 What to Watch
Investors should review the upcoming Postal Ballot notice for specific details on the interest rates and terms of the related party loans to ensure they are at arm's length. The appointment of a veteran banker to the board is a positive development for the company's strategic oversight.
Finkurve Financial Q4 FY26: AUM Surges 149% to ₹1,096 Cr; PAT Doubles YoY
Finkurve Financial Services delivered a strong performance for FY26, with Assets Under Management (AUM) growing 149% YoY to reach ₹1,096 crore. The company's profitability saw a significant boost as PAT increased by 105% YoY, supported by a 71% rise in quarterly income to ₹69 crore. Asset quality remains exceptional with Gross NPA at a record low of 0.13% and Net NPA at 0.09%. The company also successfully transitioned to a middle-layer NBFC and received a credit rating upgrade to BBB+.
Key Highlights
AUM grew 149% YoY to ₹1,096 crore, crossing the significant ₹1,000 crore milestone
Net Profit (PAT) increased by 105% YoY with quarterly income rising 71% to ₹69 crore
Asset quality remains robust with GNPA at 0.13% and NNPA at 0.09%
Branch network expanded from 73 to 105, with a target to grow another 40-50% in FY27
Capital Adequacy Ratio (CRAR) stands healthy at 30.96% with a debt-to-equity ratio of 2.42x
👀 What to Watch
Investors should note the company's rapid scaling in the gold loan segment and its successful rating upgrades which should lower future borrowing costs. The stock warrants a positive outlook given the strong asset quality and clear expansion roadmap through co-lending and branch growth.
Finkurve Q4 FY26 PAT Surges 105% YoY to ₹8.04 Cr; AUM Crosses ₹1,000 Cr Milestone
Finkurve Financial Services reported a robust Q4 FY26 with Profit After Tax (PAT) growing 105.46% YoY to ₹8.04 crore. The company's Assets Under Management (AUM) witnessed a massive 149% YoY growth, reaching ₹1,096.1 crore, marking a significant milestone in its growth trajectory. Asset quality remains exceptional with a Net NPA of just 0.09%, while the branch network expanded to 105 locations. The company also successfully raised ₹111.50 crore during the fiscal year to fuel its tech-driven phygital expansion.
Key Highlights
AUM grew by 149% YoY from ₹439.5 cr to ₹1,096.1 cr, crossing the ₹1,000 cr milestone.
Net Profit (PAT) for the quarter grew 105.46% YoY to ₹8.04 cr.
Asset quality remains superior with Gross NPA at 0.13% and Net NPA at 0.09%.
Total Income for Q4 FY26 rose 71.21% YoY to ₹69.21 cr.
Raised ₹111.50 cr via preferential issue and entered a co-lending partnership with Godrej Finance.
👀 What to Watch
Investors should monitor the company's ability to maintain its high growth rate and low NPA levels as it scales its gold loan book. The recent credit rating upgrade to BBB+ and NSE listing provide additional comfort regarding institutional stability.
Finkurve (Arvog) Q4 FY26: AUM Surges 149% to ₹1,096 Cr, PAT Doubles to ₹8 Cr
Finkurve Financial Services (Arvog) reported a strong Q4 FY26 with Assets Under Management (AUM) reaching ₹1,096.1 crore, a 149% YoY growth. The company has successfully pivoted to a retail-first gold loan model, which now constitutes 95% of its total loan book compared to 39% in FY23. Profit After Tax (PAT) for the quarter rose 105% YoY to ₹8.0 crore, despite higher provisioning due to its transition to a Middle Layer NBFC. Asset quality improved significantly with Net NPA dropping to 0.09% from 0.65% a year ago.
Key Highlights
Assets Under Management (AUM) grew 149% YoY to ₹1,096.1 crore in FY26.
Net Profit (PAT) for Q4 FY26 increased by 105% YoY to ₹8.04 crore.
Asset quality improved sharply with Net NPA declining 57 bps YoY to 0.09%.
Branch network expanded to 105 locations, a 44% increase from 73 branches in FY25.
Gold loans now dominate the portfolio at 95% of the total loan book, up from 39% in FY23.
👀 What to Watch
Investors should monitor the company's ability to maintain its low NPA levels while scaling its branch network. The strategic pivot to gold loans and backing from the Augmont Group provides a strong competitive moat in the secured lending space.
Finkurve (Arvog) Q4 FY26 AUM Surges 149% YoY to ₹1,096 Cr; NNPA Drops to 0.09%
Finkurve Financial Services (Arvog) reported a massive 149% YoY growth in Assets Under Management (AUM) to ₹1,096.1 crore for Q4 FY26, driven by a strategic pivot to retail gold loans which now constitute 95% of the portfolio. Profit After Tax (PAT) grew 15% YoY to ₹8.0 crore, despite higher provisioning due to its transition to a Middle Layer NBFC. Asset quality improved significantly with Net NPA falling to 0.09% from 0.65% a year ago. The company expanded its physical footprint to 105 branches, focusing on high-gold-ownership Tier-2/3 markets.
Key Highlights
AUM grew 149% YoY to ₹1,096.1 crore, with gold loans now representing 95% of the total loan book compared to 39% in FY23.
Net NPA improved dramatically by 57 bps YoY to 0.09%, indicating exceptionally high asset quality in the gold-backed portfolio.
Branch network expanded 44% YoY to 105 locations, with average gold loan AUM per branch rising significantly to ₹9.9 crore.
Reported PAT of ₹8.04 crore includes a ₹1.22 crore pre-tax provision necessitated by the transition to Middle Layer NBFC (NBFC-ML) status.
Active gold loan customers increased 66% YoY to 28,506, supported by co-lending partnerships with RBL Bank and Godrej.
👀 What to Watch
Investors should monitor the company's ability to maintain its low NPA levels as it scales rapidly and transitions to stricter Middle Layer NBFC regulations. The successful pivot from corporate to retail gold lending provides a more stable and scalable growth trajectory.
Finkurve Q4 PAT jumps 105% YoY to ₹8.04 Cr; AUM surges 149% to ₹1,096 Cr
Finkurve Financial Services reported a strong Q4 FY26 with PAT growing 105% YoY to ₹8.04 crore and AUM crossing the ₹1,000 crore milestone, reaching ₹1,096.1 crore. The company's asset quality remains robust with a Net NPA of 0.09%, while the branch network expanded to 105 locations. During the year, the company successfully raised ₹111.50 crore via preferential issues and entered a strategic co-lending partnership with Godrej Finance to scale its gold loan business.
Key Highlights
AUM grew by 149% YoY to ₹1,096.1 crore, crossing the ₹1,000 crore mark for the first time.
Q4 PAT increased by 105.46% YoY to ₹8.04 crore, while full-year FY26 PAT rose 49.33% to ₹26.03 crore.
Asset quality remains exceptional with Gross NPA at 0.13% and Net NPA at 0.09%.
Successfully raised ₹111.50 crore through preferential issues to fund expansion and technology.
Strategic co-lending partnership established with Godrej Finance Limited to jointly offer gold loan products.
👀 What to Watch
Investors should monitor the company's ability to maintain high growth and low NPAs as it scales; the recent NSE listing and credit rating upgrades to BBB+ are positive signs of institutional growth.
