Business Highlights: Q1 FY27

  • Asset under Management (AUM) grew by 134.5% YoY from INR 541.8 Cr to INR 1,270.4 Cr (including off Book AUM of INR 38 Cr)
  • Branch network increased from 83 to 118 branches YoY, representing 42.2% growth
  • Number of active customers (GL) as on 30th June 2026 stood at 31,522
  • Average Gold Loan per Branch increased 77.6% YoY to INR 10.3 Cr from INR 5.8 Cr

Financial Performance: Q1 FY27

| Particulars | Q1 FY27 | Q1 FY26 | Y-o-Y | Q4 FY26 | Q-o-Q |

| Total Income | 75.82 Cr | 40.04 Cr | 89.37% | 69.21 Cr | 9.55% |

| PBT | 11.21 Cr | 6.83 Cr | 64.06% | 10.42 Cr | 7.54% |

| PAT | 8.44 Cr | 5.09 Cr | 65.78% | 8.04 Cr | 4.95% |

| Basic EPS (INR) | 0.60 | 0.38 | 57.89% | 0.58 | 3.45% |

Key Metrics and Ratios

| Particulars | Q1 FY27 | Q1 FY26 |

| Return on Average Loan assets | 2.9% | 4.2% |

| Return on Average Equity | 9.7% | 8.1% |

| Capital Adequacy Ratio | 26.6% | 57.3% |

| Debt to Equity Ratio | 2.9x | 0.7x |

| Gross NPA | 0.54% | - |

| Net NPA | 0.48% | - |

Strategic Developments

  • Successfully onboarded Franklin Templeton as the Company's first AIF investor through issuance of INR 50 crore NCD
  • Strengthened Board with appointment of Mr. Rajendran Chinna Veerappan as Additional Director (Non-Executive, Non-Independent)
  • Expanded leadership architecture with appointment of Mr. Raju Shah as Chief Risk Officer and Mr. Husain Pittalwala as Head of Compliance

Management Commentary

Mr. Priyank Kothari, Executive Director, commented that Q1 FY27 reflects continued momentum in their growth journey with AUM reaching INR 1,270.4 Cr. The expansion has been supported by scaling up of technology-enabled branch network. The company maintained disciplined approach to asset quality and capital management with PAT growing 65.8% YoY to INR 8.4 Cr. Asset quality remained stable with Gross NPA at 0.54% and Net NPA at 0.48%. Capital Adequacy Ratio stood at healthy 26.6%. Focus remains on expanding presence in gold loan market, strengthening technology-led operating model, and improving branch productivity while maintaining prudent risk management and operational discipline.

Company Background

Finkurve Financial Services Limited (brand name Arvog) is an RBI-registered non-deposit-taking, Middle-layer NBFC. Established in 1984 as Sanjay Leasing Ltd., obtained NBFC license in 1998, and acquired by current Promoters in 2010. Primarily focuses on gold loans, which form majority of AUM, along with personal loans and SME loans through fintech partnerships. Has strategic tie-up with Augmont Goldtech, India's largest fully integrated gold platform.