Date: October 29, 2026

Financial Performance Highlights

Profitability:

  • Profit After Tax (PAT) reached ₹125 crore for Q2 FY27, representing 100% year-over-year (YoY) growth and 32% quarter-over-quarter (QoQ) growth
  • Diluted EPS stood at ₹7.1 for the quarter, compared to ₹4.7 in Q2 FY26, showing 51% YoY growth
  • Return on Average AUM (RoAAUM) at 5.78% (annualized)
  • Return on Equity (RoAE) at 21.65% (annualized)

AUM Growth & Business Scale:

  • Assets Under Management (AUM) expanded to ₹9,317 crore, representing 68% YoY growth and 16% QoQ growth
  • Cumulative customers served crossed 12.80 million, showing 22% YoY growth
  • Diluted Book Value Per Share (BVPS) stood at ₹130.7 as of September 30, 2026

Portfolio Mix & Operating Metrics

Product Mix:

  • Personal Loans (unsecured) at ₹8,580 crore, representing 92.1% of total AUM
  • Loan Against Property (secured) at ₹737 crore, representing 7.9% of total AUM
  • The company expects LAP scale-up to continue through remaining quarters of FY27 and beyond

Business Model Mix:

  • Off-book AUM at ₹5,118 crore, representing 54.9% of total AUM
  • Off-book model operates across 8+ partners under capital-light, partnership-led origination model
  • Total of 45+ active lending and co-lending partners

Distribution Channels:

  • 100% digital Personal Loan sourcing
  • Loan Against Property delivered through 107 branches across 9 states and union territories

Asset Quality & Provisioning

Non-Performing Assets:

  • Gross NPA (Stage 3) stood at 2.18%, representing 75 basis points YoY improvement and 7 basis points QoQ improvement
  • Net NPA at 0.34%, showing 2 basis points QoQ improvement
  • Net NPA continues to operate well below 50 basis points

Provision Coverage:

  • Stage 3 Provision Coverage Ratio (PCR) at 84.55%
  • Expected Credit Loss (ECL) coverage on Stage 2 assets at 77.6%, compared to 59.6% in Q2 FY26

Collection Efficiency:

  • Collection Efficiency (DPD 30) at 97.12%

Capital Position

Capital Structure:

  • Net Worth at ₹2,377 crore, showing 103% YoY growth and more than 4x growth since March 2023
  • Growth driven by retained earnings, organic profitability, and Initial Public Offering in May 2026
  • Capital to Risk Assets Ratio (CRAR) at 34.8%
  • Tier-1 Capital at 33.7%
  • Debt to Equity ratio at 0.94x

Credit Ratings:

  • A-/Stable from CRISIL
  • A-/Stable from India Ratings
  • A/Stable from Acuite Ratings (upgraded from A-/Stable during the quarter)

Fundraising Activity:

  • Raised ₹832.2 crore through preferential issue post quarter-end
  • In-principle approval from BSE and NSE received on October 19, 2026

Outlook & Guidance for FY27

  • Expect AUM growth of 60%+ for FY27
  • Credit cost expected to decline by 15%+ YoY
  • Guidance for GNPA below 2.25%
  • Expect RoAE of 20%+

Management Commentary

Mr. Ranvir Singh - Chairman, Director & CEO:

"Q2FY27 was a quarter of strong growth, healthy returns and continued execution against our strategic priorities. AUM grew 68% YoY to ₹9,317 crore, with Return on Average AUM at 5.8%. Our priorities remain unchanged: to grow sustainably without compromising credit quality and to deliver consistent, profitable returns over the long term. Disciplined underwriting, robust collections practices and a scalable, technology-led platform continue to underpin our performance. As we scale, we remain focused on strengthening the quality of our loan book while building a resilient business positioned for sustainable growth."

Company Background

  • Founded in 2016 and headquartered in Mumbai
  • Technology-first digital lending platform serving India's mass-market and mass-affluent segments
  • Operates through NBFC-Middle Layer subsidiary Si Creva Capital Services Private Limited
  • Offers Personal Loans and Loan Against Property to salaried and self-employed customers
  • Proprietary AI/ML underwriting framework using 7,200+ variables
  • Listed on NSE & BSE on May 8, 2026