Norwest Venture Partners (NVP) has officially confirmed a funding round valued at ₹387 crore for Veriqus Partners, the high-profile wealth management and corporate advisory platform. Ashish Gumastha and Roshi Jain, industry veterans, are co-founders of the enterprise. The significant investment of ₹387 crore reflects the rising institutional investor interest in India’s burgeoning private wealth management industry. The capital round also featured several high-profile Indian business families, family offices, and senior corporate executives participating with Norwest to back the new initiative.
Experienced leadership and investment
The investment by Norwest Venture Partners is one of the highest upfront investments in a newly formed wealth management and corporate advisory firm in the Indian financial services market. The milestone deal reflects the growing appetite for institutionalized, all-encompassing financial management among the ultra-high-net-worth owners, family offices and corporate enablers.
The capital injection will enable Veriqus to pursue its multi-faceted growth plan from day one, ensuring it’s on par with other well-known industry leaders. Veriqus Partners possesses a team of seasoned leaders in wealth management, fund management, and investment banking.
Ashish Gumashta, the co-founder, has decades of experience in private banking and wealth management, having previously held roles as Chief Executive Officer and Executive Chairman of Julius Baer India and its predecessor, DSP Merrill Lynch, and Motilal Oswal Financial Services.
Roshi Jain, one of the fund’s co-founders, has a long record of excellence in asset management and equity capital markets, having served as the head of some of the most successful equity funds at HDFC Mutual Fund and Franklin Templeton. The founding executive team is enriched by the addition of former Bank of America investment banking co-head Debashish Purohit, who leads the firm’s investment banking strategic business advisory division, and Kaushik Sanghvi, a former senior executive at Merrill Lynch and Julius Baer.
This combined executive track record has been instrumental in landing the initial investment from Norwest Venture Partners and securing significant co-investment capital. The leadership team’s pan-Indian network in corporate and domestic wealth gives the firm the structural backbone of its future growth.
Market expansion and strategic advisory
To cater to the changing and complex needs of Indian promoters, ultra-high-net-worth families, and emerging corporate bodies, Veriqus Partners was established. The platform also brings together conventional wealth management capabilities and expert business advisory functions, delivering a more comprehensive service model that extends beyond the investment product distribution side.
It provides tailored portfolio management, multi-asset allocation, estate planning and family office advisory services for ultra-high-net-worth clients through its wealth management division. The strategic business advisory division led by Debashish Purohit serves businesses and corporate entities with general strategic needs.
This business line supports clients in strategic corporate deals, capital structure, private equity syndication, and succession planning. Veriqus combines the core areas of private wealth management with the business support functions of corporate advisory services into a single platform, serving the needs of both the strategic growth needs of the business and the personal wealth management agenda of the business owner.
The proceeds from the Norwest round, which amounts to ₹387 crore, will be deployed in scaling up the company’s infrastructure, recruitment process, and footprint. The bulk of the newly raised funds will be utilized for building custom tech platforms that enhance portfolio management, digital onboarding, and risk analytics services for HNW clients. The firm is still looking for seasoned wealth managers, investment experts, and research professionals from top international financial organizations and regional partners.
The investment will help Veriqus expand its physical presence in major business metropolises in India, such as Mumbai, Delhi National Capital Region, Bengaluru, and others. The firm will also create a specialized family office management group to meet the rising demand from first-generation entrepreneurs and multi-generational business families in India for structured wealth preservation and growth solutions.
Conclusion
Norwest Venture Partners led the investment round in Veriqus, which eventually came to be valued at ₹387 crore. With Ashish Gumashta, Roshi Jain, Debashish Purohit and Kaushik Sanghvi at the helm, Veriqus looks well placed to benefit from the growing sophistication and quick expansion of private wealth in India. The company has significant capital reserves, a clear dual-pillar service offering that encompasses wealth management and business advisory, and strong institutional backing, which it is well positioned to leverage to grow its service to market and consolidate a strong countrywide presence.
In the first quarter of the Financial Year 2026-27, Can Fin Homes Limited has recorded strong financial performance, resulting in a net profit after tax for the firm of ₹267 crore. This is an appreciable increase of 19.63% compared to the ₹223 crore profit earned in the corresponding quarter of the last financial year. The growth in the company’s bottom line is not the only achievement, but the top line has also shown strong growth, where the total revenue from operations is up by 7.43 % from ₹1,020 crore in the last financial year to ₹1,096 crore.
Vision and solid operational efficiency
The desire of Can Fin Homes is to facilitate the process of home ownership across India with its primary slogan “friendship, finance and good service.” The housing finance company is promoted by Canara Bank and promotes accessible and affordable housing finance to first-time home purchasers, mostly at lower and moderate-income levels, and salaried professionals, provided it is transparent.
In support of this vision, the institution focuses on high asset quality, sound underwriting standards, ethical business practices, and good risk management. Can Fin Homes aims to grow deeper into Tier 2 and Tier 3 areas, utilise modern technology and the existing core digital systems in order to make the business efficient, accessible and easier to serve, as well as to contribute to the rise of the housing market nationwide.
The performance of the housing finance company during the quarter ended 30 June 2026 indicated increasing efficiencies and positive underlying business health. Gross profit increased 7.77% year-on-year to ₹997 crore, from ₹925 crore in the previous year.
The gross profit that is growing faster than the revenue reflects the working of operational leverage, as the margin of operations grows quicker than the size of the business. Net Interest Margin improved to 3.81% against 3.64% in the prior year, while Return on Equity rose to 17.15%, further adding to the bottom-line delivery of the company.
Growth in profitability
Growth in profitability was strengthened by a gradual expansion of the company’s core housing finance franchise and retail lending. The company’s total loan assets grew by 11 per cent year-on-year to reach ₹42,961 crore, against ₹38,773 crore in the year-ago quarter. Housing loans remained the core of the business, comprising 83 per cent of the business’s total loan stock.
The total loan disbursements increased by 29% YoY to ₹2,609 crore. Despite the significant growth in credit advances, the firm managed to hold credit quality standards high and also underwrite the loans with due diligence, with the Gross NPA ratio coming down to 0.87% compared to 0.98% year-on-year, and the Net NPA ratio improved to 0.42% from 0.54%.
Conclusion
With a solid start made in the 2026-27 fiscal year, Can Fin Homes has made a strong beginning by achieving net profit growth of 19.63%, maintaining a healthy loan disbursement momentum and asset quality improvement. The housing finance lender has been proving to be resilient, underpinned by solid risk management and healthy net interest income, despite growth in loan assets above ₹42,900 crore, with disciplined operational execution in its core retail housing book.
Steptrade Capital has achieved a milestone in funding with the first close of its Category II Alternative Investment Fund (AIF), named Chanakya Opportunities Fund II. In the first 3-months after official launch, the fund manager enlisted investors with funds of more than ₹100 crore. It demonstrates a high level of confidence from qualified investors in Steptrade Capital’s strategic direction and leadership. The fund was launched in February 2026, with an aim of raising a total fund of ₹500 crore, and the initial target of ₹100 crore represents a beginning for the broader goal of raising funds.
Capital deployment timelines and growth trajectory
Support from a wide array of backers enabled the successful closing of Chanakya Opportunities Fund II in its inaugural round. The fund has received the majority of its capital commitments from ultra-high-net-worth individuals, family offices and other eligible investor classes, according to information shared by the asset management firm based in Ahmedabad.
After achieving this milestone, Steptrade Capital formally launches the next round of fundraising, allowing more potential investors to take a place in the vehicle. The firm has already outlined its operational journey for the capital arena, with initial capital deployment already planned for August 2026.
The evolution of Steptrade Capital is evident in its growth path, moving from a small and medium-sized enterprise-focused investment approach to a high-growth alternative asset manager. With its inaugural fund focused on supporting companies gearing up to list on the SME exchanges in India, it has successfully expanded its presence to launch Chanakya Opportunities Fund II on 3 February 2026.
The second fund will expand the firm’s mandate to invest in more advanced manufacturing, energy transition, and emerging technology companies in their pre-IPO and growth stages, with a maximum corpus of ₹500 crore. Under the leadership of CA Kresha Gupta and CA Akshay Dawra, the firm has put on a strong showing, raising more than ₹100 crore from ultra-high-net-worth individuals and family offices in just 3 months since the new fund’s launch.
As capital deployment commences in August 2026 in key domains such as semiconductors, battery storage, robotics, and digital healthcare, Steptrade Capital’s future path becomes an exciting prospect of scaling up its fund size, diversifying its sectors, and playing a larger role in India’s industrial and technological growth.
Strategic focus and core investment pillars
Chanakya Opportunities Fund II is tailored to invest in highly promising companies in growth and pre-IPO stages. The fund is being operated by CA Kresha Gupta and CA Akshay Dawra, who had previously handled Steptrade Capital’s investment platform.
The initial fund focused on supporting companies making their debut on India’s small and medium exchanges, but this second fund goes far beyond that with its 3 major themes. The driving investment pillars are advanced manufacturing, energy transition and infrastructure, and emerging technologies.
The first is advanced manufacturing, with the fund looking to invest in fast-growing businesses in its electronics, semiconductors, defense, and specialty chemicals sectors. The second theme is energy transition and infrastructure, including vital future-oriented sectors like battery storage, electric vehicles, power transmission, and data centers.
Theme three is on innovations, as growth funds plow money into companies that leverage artificial intelligence, robotics, digital healthcare, and bio-manufacturing processes. The fund targets companies with clear exposure to the manufacturing strength and technology uptake and to the continued clean energy transition in India in a targeted fashion.
Conclusion
Steptrade Capital has secured a significant position in the Indian Alternative Investment Fund environment with the first close of the ₹100-crore commitment in the Chanakya Opportunities Fund II. The firm is ready to launch the deployment of capital in August 2026 into high-growth pre-IPO businesses led by CA Kresha Gupta and CA Akshay Dawra. With Steptrade Capital still on the lookout for new pledges to reach the final ₹500 crore corpus, the fund is positioned to become a larger contributor to the funding of the next generation of Indian innovation in manufacturing, clean energy, and advanced technology.
Suind is an agriculture startup based in Bengaluru. According to regulatory filings reviewed by Entrackr, Suind expects to raise at least ₹20.5 crore (approximately $2.2 million) in a new funding round. The round is led by Transition Venture Capital Fund. The company has approved the allotment of 5,107 compulsorily convertible preference shares for this purpose at ₹40,132.20 per share. The majority of funds will be contributed by Transition Venture Capital Fund for ₹20 crore, followed by ₹50 lakh from CIIE Initiatives to the startup.
Strategic business expansion and valuation impact
On a post-money valuation, Entrackr estimates that Suind is valued at around ₹80 crore (approximately $8.4 million). This is the latest infusion of capital, coming after an approximately two-and-a-half-year period since the company’s last capital raise.
Suind also raised ₹5 crore in a seed round led by Sunicon Ventures and co-led by an angel investor group that involved Zetta Farms and other investors in November 2023. This is a major milestone, financially speaking, in the company’s growth trajectory since it’s now attracting institutional support.
Established in 2020 by Kunal Shrivastava and Kevin Kleber, Suind focuses on the development of stand-alone drone products specifically geared towards the field of Agriculture. The company’s flagship mobile platform, Bumblebee, is designed using computer vision technology and autonomous navigation capabilities.
This technology enables precise spraying and allows farmers to effectively monitor their crops and solve agricultural problems with less interference. The fresh capital will be used to advance the startup’s proprietary drone technology, taking it beyond agricultural sensing and into industrial applications.
Competition and financial status
Transition Venture Capital Fund will become Suind’s largest outside shareholder following the allotment of the new preference shares, holding a 25% stake in the business. Kunal Shrivastava and Kevin Kleber, the co-founders, will each maintain a 25.08% stake in the Company.
Early investors including Sunicon Ventures and CIIE Initiatives will also hold equity stakes of 9.22% and 0.62%, respectively. For financial performance, Suind has yet to publish its fiscal 2026 annual financials. The startup has been in the pre-revenue phase, as per its regulatory filings available last, and posted a loss of ₹1.89 crore in FY25.
In recent years, the agriculture drone market has been gaining momentum in India, attracting investors and market interest. The fresh demand for precision farming technologies and the increased uptake of government funding trying to promote the use of drones across the country have helped this momentum build. In this growing ecosystem, Suind is competing with multiple drone startups such as Marut Drones, Garuda Aerospace, IoTechWorld Avigation, BharatRohan, and Dhaksha Unmanned Systems.
Conclusion
With the upcoming ₹20.5 crore fundraising round, Suind is in a pivotal stage of development for the drone tech firm to hit a valuation of ₹80 crore. The new investment from Transition Venture Capital Fund also brings a financial runway to the pre-revenue startup to further help its core autonomous computer vision systems. This investment is already benefiting Suind’s business ventures by opening new avenues to unlock its Bumblebee product in wider industrial applications, keeping the company on the competitive grid of other major players in India’s growing UAV sector.
July 2026 | Indore: Founded in Indore in 2012, Kimirica has grown from a homegrown self-care venture into a globally recognised luxury brand, partnering with over 10,000 hotels across the world. For years, its products have been discovered through hotel stays, becoming part of memorable experiences for guests across continents.
Today, Kimirica opens its newest boutique at Devi Ahilyabai Holkar International Airport, bringing its signature world of thoughtful self-care to one of the city’s most dynamic gateways. For the Indore-born brand, the launch is both a celebration of how far its story has travelled and a reflection of the city where it all began.
A NEW EXPERIENCE FOR AIRPORT TRAVELLERS
Located within the airport terminal, the boutique has been designed around a simple but universal truth: every journey carries a story.
The store brings together a thoughtfully curated range across perfumes, gifting, bath & body, travel-sized favourites, and home fragrances, all under one roof. Warm lighting, curated displays, and the quiet hum of fragrance in the air make it a natural pause point amidst the bustle of the terminal.
At the heart of the boutique is an immersive sensory pod that invites travellers to experience Kimirica’s Perfum range through sight, sound, and scent. Designed to transport visitors through distinctive fragrance-inspired destinations, the experience encourages them to pause, explore, and discover the stories behind each creation before choosing the one that resonates most with their journey.
Made in Indore. Loved Worldwide.
Though discovered across continents, Kimirica continues to create, innovate, and manufacture from its hometown. Through its in-house manufacturing capabilities and “Procure Within 100” philosophy, the brand remains deeply invested in local talent, suppliers, and regional growth, creating opportunities within the community it calls home.
The airport boutique stands as a reflection of that journey. Positioned at one of the city’s most important gateways, it celebrates a brand that has taken Indore to the world while continuing to grow from the city that shaped it. More than a retail destination, it is a reminder that globally admired brands can be built from local ambition, craftsmanship, and entrepreneurial spirit.
The Next Chapter of Retail Growth
The airport boutique marks Kimirica’s sixth store launch, reflecting the brand’s continued focus on creating immersive retail experiences where consumers can engage with self-care in meaningful ways.
As the brand expands its retail footprint across India, travel retail presents an exciting opportunity to connect with consumers seeking memorable experiences while on the move.
Store Details
Launch Date: 2 July 2026
Location: Shop Number R-16, Gate No – 7, Departure terminal, Devi Ahilyabai Holkar Airport, Aerodrum Rd, Indore, Madhya Pradesh 452005
Plazza has raised $15 million in funding in its Series A round. This funding round was co-led by global top VC companies Accel, Elevation Capital, and Nexus Venture Partners. Existing investors All In Capital and Better Capital also supported the round. These fresh funds will specifically be allocated to strengthening the firm’s core technology platform. It will enhance its AI-powered inventory and assortment intelligence, scale its total operational capability, and grow its chain of pharmacies across new geographical areas.
Inventory footprint and founding vision
Plazza has a quick commerce application that delivers medicines as a first mover in order to maintain medicine availability on a timely basis. It is a pharmacy-first quick commerce platform. This is the company’s $15 million Series A funding round just 10 months after All In Capital led a $1.4 million seed round for Plazza.
The earlier round was also led by Better Capital and Tracxn founder Abhishek Goyal, Vivekananda Hallekere, Singhania family office, and JK Tyre’s promoters. Plazza uses AI technologies for inventory management to ensure fast delivery of medicines to customers within a narrow timeframe of 15 to 30 minutes.
Plazza is filling a significant structural void that exists in the Indian pharmaceutical retail market, where the medical shops located in the neighborhood are selling an average of 5,000 medicines out of the total market worth more than 100,000 SKUs. To address this fulfillment challenge, Plazza store-level inventories exceed 40,000 SKUs, which is approximately 8 times the amount of inventory typically found within a conventional local pharmacy. This vast product presence allows Plazza to serve a prescription fill rate of over 95% in stark contrast to industry averages of 50–60%.
Financial metrics and competitive landscape
The vision of the company has brought about impressive growth statistics. As per the startup, gross merchandise value (GMV) grew by almost 27 times from June 2025 to March 2026. Metrics of customer retention show high customer engagement, offering approximately 30% larger order baskets for repeat visitors versus first-time visitors. Plazza is continuing to build ascending order volumes while maintaining its existing customer base with AI-driven assortment intelligence.
The Series A funding round reflects the growing competition in the instant medicine delivery space. Platforms like Flipkart and Zepto have attacked the market aggressively, with the former announcing entry via its Flipkart Minutes in December 2024 and the latter’s pharmacy service going on trial in 10 cities in 2025 with 10-minute deliveries.
Beyond OTC drugs, Blinkit has also ventured into the prescription medicine delivery space in Bengaluru. The overall rapidly expanding pharmacy sector remains attracting significant investor interest, with previous pharmacy rounds led by investment firms Stellaris Venture Partners on the Bengaluru capex side raising $6 million in September 2025 and Accel and Peak XV Partners leading the $85 million round involving TrueMeds.
Conclusion
The successful $15 million raised by Plazza continues a trend of increased investor confidence in specialized quick-commerce platforms that aim to address the conceptual supply chain. The startup’s delivery promise of 15 to 30 minutes, combined with its ability to predict product needs with the help of AI and its vast inventory, has the potential to address the long-standing problem of drug stock availability in India. Plazza’s emphasis will be on commanding high fill rates and having strong pharmaceutical offers as others such as Flipkart, Zepto, and Blinkit ramp up their presence in the country.
Credit cards have become an essential part of personal finance in India. Whether you shop online, travel frequently, pay utility bills, or dine out, the right credit card can help you earn rewards, cashback, discounts, and exclusive lifestyle benefits. With digital payments becoming more common, banks are continuously launching new credit cards that cater to different spending habits and income groups.
Today, India’s credit card market is dominated by leading banks and financial institutions that offer everything from entry-level lifetime free cards to premium travel and luxury cards. These companies compete by providing attractive welcome offers, reward programs, airport lounge access, EMI facilities, and partnerships with popular brands.
Choosing the right credit card company is just as important as selecting the card itself. Factors such as customer service, digital banking experience, security features, reward redemption options, and annual fees all play a major role in the overall experience.
In this article, we explore the top 10 credit card companies in India based on their market presence, product range, customer satisfaction, innovation, and popularity among Indian consumers. The rapid growth of digital payments has also fuelled the success of top fintech startups in India, transforming how consumers access financial products and services
Top 10 Credit Card Companies in India
Rank Company Founded Founder Headquarters Best Known For
HDFC Bank Credit Cards
1994
Housing Development Finance Corporation (HDFC)
Mumbai, Maharashtra
SBI Card
1998
SBI & GE Capital
Gurugram, Haryana
ICICI Bank Credit Cards
1994
ICICI
Mumbai, Maharashtra
Axis Bank Credit Cards
1993
UTI, LIC & Others
Mumbai, Maharashtra
Kotak Mahindra Bank Credit Cards
1985
Uday Kotak
Mumbai, Maharashtra
IndusInd Bank Credit Cards
1994
S. P. Hinduja
Mumbai, Maharashtra
American Express India
1850
Henry Wells, William Fargo & John Butterfield
New York, USA
HSBC India Credit Cards
1865
Thomas Sutherland
London, UK
AU Small Finance Bank Credit Cards
1996
Sanjay Agarwal
Jaipur, Rajasthan
IDFC FIRST Bank Credit Cards
2018
Merger led by V. Vaidyanathan
Mumbai, Maharashtra
Largest credit card issuer in India
Cashback and lifestyle cards
Digital banking and co-branded cards
Premium travel and reward cards
Lifetime free credit cards
Premium lifestyle benefits
Premium rewards and customer service
International travel benefits
Digital-first premium cards
Lifetime free reward cards
HDFC Bank Credit Cards
Image Courtesy:HDFC Bank Credit Cards Official Website
Particular Details
Founded 1994
Founder Housing Development Finance Corporation (HDFC)
Headquarters Mumbai, Maharashtra
Best Known For Largest credit card issuer in India
Popular Cards Millennia, Regalia Gold, Diners Club Black, Tata Neu Infinity, MoneyBack+
HDFC Bank Credit Cards was founded in 1994 by Housing Development Finance Corporation (HDFC). Today, it is the largest credit card issuer in India, serving millions of customers across different income groups.
The company offers a wide range of credit cards designed for shopping, travel, dining, fuel savings, premium lifestyle, and business spending. Popular cards like Millennia are ideal for cashback seekers, while Regalia Gold and Diners Club Black target frequent travelers with airport lounge access and travel rewards.
HDFC also partners with major brands such as Swiggy, Tata, Marriott, and IndianOil, allowing customers to earn additional rewards through co-branded cards. Its excellent digital banking services, extensive merchant network, and attractive reward programs have helped HDFC maintain its leadership position in India’s highly competitive credit card industry.
SBI Card
Image Courtesy:SBI Card Official Website
Particular Details
Founded 1998
Founder State Bank of India & GE Capital
Headquarters Gurugram, Haryana
Best Known For Cashback and lifestyle credit cards
Popular Cards Cashback Card, SimplyCLICK, SimplySAVE, PRIME, ELITE
SBI Card was founded in 1998 as a joint venture between the State Bank of India and GE Capital. It has grown into one of India’s largest standalone credit card companies.
The company offers credit cards for online shopping, travel, fuel, dining, entertainment, and everyday spending. Products such as the SBI Cashback Card and SimplyCLICK have become popular among customers who frequently shop online, while premium cards like PRIME and ELITE provide travel and lifestyle benefits.
SBI Card regularly introduces festive offers with leading e-commerce platforms and supports flexible EMI conversion on large purchases. Its broad customer base, competitive reward programs, and strong nationwide presence make it one of the most trusted credit card providers in India.
ICICI Bank Credit Cards
Image Courtesy:ICICI Bank Credit Cards Official Website
Particular Details
Founded 1994
Founder Industrial Credit and Investment Corporation of India (ICICI)
Headquarters Mumbai, Maharashtra
Best KnownFor Digital banking and co-branded credit cards
Popular Cards Amazon Pay ICICI, Coral, Rubyx, Sapphiro, Emeralde
ICICI Bank Credit Cards was founded in 1994 by the Industrial Credit and Investment Corporation of India (ICICI). It has become one of India’s leading credit card providers with a strong focus on digital banking.
The bank offers credit cards for shopping, travel, fuel, entertainment, and premium lifestyle needs. Its Amazon Pay ICICI Credit Card is among the country’s most popular cashback cards because it offers excellent rewards without annual membership fees.
Other premium offerings such as Rubyx, Sapphiro, and Emeralde provide airport lounge access, concierge services, travel insurance, and exclusive lifestyle privileges. ICICI Bank’s easy-to-use mobile app, quick reward redemption process, and wide acceptance across merchants continue to make it a preferred choice for Indian consumers.
Axis Bank Credit Cards
Image Courtesy:Axis Bank Credit Cards Official Website
Particular Details
Founded 1993
Founder Unit Trust of India (UTI), Life Insurance Corporation (LIC), General Insurance Corporation (GIC), and other public sector institutions
Headquarters Mumbai, Maharashtra
Best Known For Premium travel, rewards, and cashback credit cards
Popular Cards Flipkart Axis Bank, ACE, Atlas, Magnus, Neo
Axis Bank Credit Cards was founded in 1993 by Unit Trust of India (UTI), Life Insurance Corporation (LIC), General Insurance Corporation (GIC), and other public sector institutions. It has become one of India’s leading credit card issuers with products designed for different lifestyles and spending habits.
The bank offers credit cards for online shopping, travel, dining, fuel savings, entertainment, and premium experiences. Cards like the Flipkart Axis Bank Credit Card and ACE Credit Card are popular among customers looking for cashback, while Atlas and Magnus are designed for frequent travelers and high spenders.
Axis Bank also collaborates with leading airlines, hotels, e-commerce platforms, and retail brands to provide exclusive discounts and reward points. Its strong digital banking platform, attractive welcome
benefits, and premium lifestyle privileges have made it one of the most preferred credit card companies in India.
Kotak Mahindra Bank Credit Cards
Image Courtesy:Kotak Mahindra Bank Credit Cards Official Website
Particular Details
Founded 1985
Founder Uday Kotak
Headquarters Mumbai, Maharashtra
Best Known For Lifetime free and cashback credit cards
Popular Cards League Platinum, Myntra Kotak, White Reserve, Zen Signature, IndianOil Kotak
Kotak Mahindra Bank Credit Cards was founded in 1985 by Uday Kotak. Over the years, the bank has built a strong reputation by offering simple, value-for-money credit cards with attractive rewards and affordable fees.
The bank provides cards suitable for shopping, fuel purchases, online spending, fashion, travel, and everyday expenses. Products such as the Myntra Kotak Credit Card and IndianOil Kotak Credit Card are popular among customers looking for brand-specific rewards, while White Reserve caters to premium users.
One of Kotak Mahindra Bank’s biggest strengths is its selection of lifetime free credit cards, making it an excellent option for users who want to avoid annual charges. The bank also offers reward points, EMI conversion, contactless payments, and an easy-to-use mobile banking platform for convenient credit card management.
IndusInd Bank Credit Cards
Image Courtesy:IndusInd Bank Credit Cards Official Website
Particular Details
Founded 1994
Founder Srichand P. Hinduja
Headquarters Mumbai, Maharashtra
Best Known For Premium lifestyle and travel credit cards
Popular Cards Legend, Pinnacle, EazyDiner, Platinum Aura Edge, Avios Visa Infinite
IndusInd Bank Credit Cards was founded in 1994 by Srichand P. Hinduja. The bank is well known for offering premium credit cards that combine luxury benefits with attractive rewards.
Its portfolio includes cards for travel, dining, shopping, entertainment, golf, and luxury lifestyle experiences. Popular options such as the Legend and Pinnacle cards provide airport lounge access, concierge services, complimentary insurance, and milestone rewards. The EazyDiner Credit Card is especially popular among food lovers because it offers dining discounts and restaurant privileges.
IndusInd Bank also focuses on premium customer service and innovative reward programs that allow customers to maximize the value of their spending. Its combination of travel benefits, lifestyle privileges, and exclusive partnerships makes it a strong choice for professionals and high-income customers.
American Express India
Image Courtesy:American Express India Official Website
Particular Details
Founded 1850
Founder Henry Wells, William Fargo, and John Butterfield
Headquarters New York, United States (India operations in Gurugram, Haryana)
Best Known For Premium rewards, travel benefits, and customer service
American Express was founded in 1850 by Henry Wells, William Fargo, and John Butterfield. It is one of the world’s leading financial services companies and has built a strong presence in India by offering premium credit cards with exclusive lifestyle benefits.
American Express cards are designed for customers who frequently travel, dine out, shop, and spend on premium experiences. Popular options like the Platinum Travel Credit Card and Membership Rewards Credit Card offer reward points that can be redeemed for flights, hotel stays, shopping vouchers, and other benefits. The company’s premium cards also include airport lounge access, travel insurance, concierge services, and luxury hotel privileges.
American Express is widely recognized for its excellent customer service, strong fraud protection, and rewarding loyalty program, making it a preferred choice for high-spending customers and frequent travelers.
HSBC India Credit Cards
Image Courtesy:HSBC India Credit Cards Official Website
Particular Details
Founded 1865
Founder Thomas Sutherland
Headquarters London, United Kingdom
Best Known For International banking and travel-focused credit cards
Popular Cards HSBC Live+, HSBC Platinum, HSBC TravelOne
HSBC was founded in 1865 by Thomas Sutherland. It is one of the world’s largest banking and financial services organizations and offers a range of premium credit cards in India.
HSBC’s credit cards are suitable for customers who travel internationally, shop online, and spend on dining and entertainment. Products like the HSBC Live+ Credit Card provide cashback on everyday purchases, while the TravelOne Credit Card offers travel rewards, airline partnerships, airport lounge access, and foreign spending benefits.
The bank also provides features such as reward points, EMI conversion, dining discounts, and contactless payments. HSBC’s strong international presence and global acceptance make its credit cards particularly attractive for professionals, business travelers, and frequent international flyers.
AU Small Finance Bank Credit Cards
Image Courtesy:AU Small Finance Bank Credit Cards Official Website
Particular Details
Founded 1996
Founder Sanjay Agarwal
Headquarters Jaipur, Rajasthan
Best Known For Digital-first reward and travel credit cards
Popular Cards Zenith+, Zenith, LIT, Vetta, Ixigo AU
AU Small Finance Bank was founded in 1996 by Sanjay Agarwal. Although it entered the credit card market later than many established banks, it has quickly gained recognition for its innovative products and customer-friendly features.
The bank offers credit cards for travel, shopping, lifestyle spending, and everyday purchases. Popular options such as the Zenith+ and Ixigo AU Credit Card provide airport lounge access, travel rewards, milestone benefits, and cashback opportunities. The LIT Credit Card stands out by allowing customers to customize card features according to their spending preferences.
AU Small Finance Bank focuses heavily on digital banking, fast application processing, and flexible reward programs, making it an increasingly popular choice among young professionals and frequent travelers.
IDFC FIRST Bank Credit Cards
Image Courtesy:IDFC FIRST Bank Credit Cards Official Website
Particular Details
Founded 2018
Founder Formed through the merger of IDFC Bank and Capital First under V. Vaidyanathan
Headquarters Mumbai, Maharashtra
Best Known For Lifetime free credit cards with high rewards
Popular Cards FIRST Wealth, FIRST Select, FIRST Millennia, FIRST Classic, Club Vistara IDFC FIRST
IDFC FIRST Bank was founded in 2018 following the merger of IDFC Bank and Capital First under the leadership of V. Vaidyanathan. In a short period, it has become one of India’s fastest-growing credit card providers.
The bank offers credit cards for shopping, travel, fuel, entertainment, and everyday spending, with many products available as lifetime free cards. Popular options include FIRST Wealth, FIRST Select, and FIRST Millennia, which offer reward points, airport lounge access, low foreign currency markup on selected cards, and interest-free cash withdrawals for a limited period.
IDFC FIRST Bank has earned a strong reputation for its transparent pricing, customer-friendly policies, and digital-first banking experience. Its combination of valuable rewards and zero annual fees on several cards makes it an attractive choice for both new and experienced credit card users.
How to Choose the Right Credit Card Company
Choosing the right credit card company depends on your spending habits and financial goals. Before applying, compare the annual fees, interest rates, reward programs, cashback offers, airport lounge access, EMI options, and customer service provided by different issuers.
If you frequently shop online, look for cards that offer cashback and shopping rewards. Frequent travelers should consider cards with airline partnerships, travel insurance, and complimentary lounge access. Customers looking to save money can choose lifetime free credit cards that do not charge annual membership fees.
It is also important to review the company’s mobile banking app, security features, reward redemption process, and customer support to ensure a smooth overall experience.
Conclusion
Companies such as HDFC Bank, SBI Card, ICICI Bank, Axis Bank, and American Express continue to lead the market by offering innovative products, attractive rewards, and reliable customer service. As digital payments continue to evolve,India’s growing fintech ecosystem is expected to drive further innovation in credit card offerings and customer-centric financial solutions.
Whether you are looking for cashback on online shopping, travel rewards, fuel savings, or premium lifestyle benefits, there is a credit card that matches your needs. Comparing the features, fees, and rewards offered by different companies will help you choose the best credit card and maximize the value of your everyday spending.
Frequently Asked Questions (FAQs)
Which company issues the most credit cards in India?
HDFC Bank is the largest credit card issuer in India based on the number of active credit cards.
Which credit card company is best for cashback?
SBI Card, HDFC Bank, Axis Bank, ICICI Bank, and IDFC FIRST Bank offer some of the best cashback credit cards.
Which company offers the best travel credit cards?
American Express, Axis Bank, HDFC Bank, HSBC, and IndusInd Bank are known for their travel focused credit cards with lounge access and reward points.
Can I have credit cards from multiple companies?
Yes. You can hold multiple credit cards from different banks if you meet their eligibility requirements.
Which banks offer lifetime free credit cards?
IDFC FIRST Bank and Kotak Mahindra Bank offer several popular lifetime free credit cards.
What is the minimum salary required to get a credit card?
The minimum salary requirement varies by issuer, but many entry-level credit cards are available for salaried individuals earning ₹15,000–₹25,000 per month.
Does using a credit card improve my credit score?
Yes. Paying your credit card bills on time and maintaining a low credit utilization ratio can help improve your credit score.
Which credit card company has the best customer service?
American Express is widely known for its customer service, while HDFC Bank and ICICI Bank also provide strong customer support.
Are credit cards safe for online shopping?
Yes. Most credit card companies offer EMV chip technology, OTP verification, tokenization, fraud monitoring, and contactless payment security for safer online transactions.
How do I choose the best credit card?
Compare the annual fee, rewards, cashback, travel benefits, interest rates, eligibility criteria, and customer service before selecting a credit card that matches your spending habits.
If you have ever viewed Anupam Mittal negotiating deals on the show Shark Tank India, odds are you have a general idea of who this man is.
Long before becoming a household name and one of the Sharks on Board, Mittal built one of India’s most recognizable internet ventures – Shaadi. com at a time when many inhabitants of the seventh largest country in the world had yet to experience the magic of email.
The man, the myth, the billionaire entrepreneur: the following article will discuss the net worth, biography, education, family, and much more information regarding the fascinating life of Anupam Mittal.
Who is Anupam Mittal?
Anupam Mittal is an Indian Businessman, Angel Investor, and the founder and CEO of People Group, the parent company of Shaadi. com, the world’s largest matrimonial website. He is also one of the judges on the business reality television show Shark Tank India.
From being a dot-com executive turned self-made billionaire, Mittal is one of India’s most prolific early-stage investors who has been instrumental in the growth and success trajectories of multiple startups.
In his personal life, Mittal is married to former model and actress Aanchal Kumar and has a daughter with her.
Quick Profile Overview
Category
Details
Full Name
Anupam Mittal
Date of Birth
23 December 1971
Birthplace
Mumbai, Maharashtra, India
Age
Mid-50s (as of the latest available data)
Nationality
Indian
Education
Jai Hind College (Mumbai); MBA, Boston College, Massachusetts, USA
Occupation
Entrepreneur, Angel Investor, TV Personality
Known For
Founder & CEO, Shaadi.com; Judge, Shark Tank India
Spouse
Aanchal Kumar (m. 2013)
Children
One daughter, Alyssa Anantara Mittal
Estimated Net Worth
Roughly ₹185–215 crore (approx. $22–25 million), based on public estimates
Anupam Mittal Net Worth: What and How Much?
In the context of Mittal’s business dealings, it is important to understand that some of his firms are not publicly listed; hence, his net worth is only an approximation. Additionally, financial reports and media outlets that publish his wealth data can have varying figures.
As of the latest reports, his net worth ranges from ₹185 crore to ₹215 crore (or $22 – $25 million), which includes his share of the profits from Shaadi.com, People Group, television appearances, and investments.
A deep analysis of his wealth indicates that his income is mainly derived from the following sources:
Shaadi. com / People Group
Angel Investments
TV Show (Shark Tank India )
Other Personal Ventures
It is to be noted that the figures are subject to change as he continues to invest in diverse business ventures and reap rich rewards from his popular matrimonial portal.
Sources of Income at a Glance
Income Source
Description
Shaadi.com / People Group
Core business ownership and operating revenue
Angel Investments
Equity stakes across 200+ startups
Shark Tank India
Television appearance fees and on-air investment returns
Media & Public Appearances
Speaking engagements, brand collaborations
Early Life and Education
Anupam Mittal was born on 23 December 1971 in Mumbai to a Marwari business family. His father, Gopal Krishna Mittal, owns a successful business. Growing up around entrepreneurs has had an undeniable influence on him.
Mittal received his primary and secondary education in Mumbai, attending Jai Hind College. Inspired to seek greater academic opportunities, Mittal completed his undergraduate studies and enrolled at Boston College to pursue his Master’s in Business Administration (MBA).
At Boston College, Mittal completed his MBA with a concentration in Operations and Strategic Management between 1994 and 1997. During his time in the United States, he gained valuable experience working in the tech industry, eventually joining MicroStrategy as a product manager after graduation.
Career: From Product Manager to Shaadi.com Founder
Image Courtesy: Shaadi. com / Official Website
Mittal’s entrepreneurial journey began in 1997 when he launched Sagai. com – a matrimonial service portal which later came to be known as Shaadi. com.
It must be noted that back then, the concept of matrimonial services through the internet was foreign to Indians. Shaadi. com eventually grew to become one of the world’s largest matrimonial services websites.
Mittal’s career path can be segregated into the following major phases:
Entrepreneur (1997 – Till date): He is the founder of Shaadi. com and People Group. During this phase, he has been both a serial entrepreneur and a prolific angel investor.
Influencer / Actor (2003 – 2019): In addition to his business career, he has also appeared in a couple of Bollywood films, both as an actor and a producer.
TV Personality (2021 – Till date): He has been a judge on one of India’s most popular business reality shows, Shark Tank India.
The following sections will discuss his professional contributions and personal life in detail.
Anupam Mittal’s Professional Contributions
Anupam Mittal’s professional contributions can broadly be classified under:
Founding of Shaadi. com and People Group
Founding of Other Notable Companies
Angel Investments Philosophy and Portfolio
Corporate Directorships, Etc.
Founding of Shaadi. com and People Group
As mentioned above, Mittal founded Sagai. com in 1997 which later came to be known as Shaadi. com. It is an online matrimonial service with over 60 million registered users and 10 million paying users as of 2020. It has played a significant role in facilitating over 4 million successful marriages across India.
It must also be noted that Shaadi. com currently operates under Mittal’s parent company called People Group which he founded in 1996. Over the course of nearly three decades, Mittal has turned Shaadi. com from a small startup into one of the world’s most valuable companies.
Founding of Other Companies
In addition to running Shaadi. com, Mittal has also founded several other major online ventures including:
Mauj Mobile: It was one of India’s leading mobile content and gaming companies that was launched in 2005. It primarily focused on providing downloadable ringtones and games for mobile phones.
Makaan.com: It is India’s largest real estate marketplace co-founded by Mittal in 2007.
Around 2006 – 2007, he was also the President of the Internet and Mobile Association of India (IAMAI).
In addition to founding major online companies, Mittal has also made cameos in Bollywood films. He has featured in Flavors (2003) and 99 (2019) as an actor and a producer, respectively.
Shark Tank India
Shark Tank India is by far Mittal’s most recent and highest-profile professional contribution to date. By being one of the show’s judges, he has not only earned himself fame and fortune but has also been able to mentor numerous budding entrepreneurs on their business ideas.
Mittal’s investing philosophy has been well-documented in the media and generally adheres to what is known in the startup investing world as the “T5” model. To put it simply, he looks at five key areas before deciding whether or not to invest in a particular venture. These include:
Total Addressable Market (TAM): He prefers investing in businesses with extremely large TAMs as it allows him to make the most profit, particularly considering how many startups fail at various stages of development.
Team: He looks for small founding teams consisting of two to three members as larger founding teams have a higher likelihood of facing internal disagreements.
Founder-Market Fit: He prefers that founders have at least a basic understanding of the market they intend to operate in. He is generally wary of entrepreneurs pivoting to an entirely different sector than the one they initially intended to enter.
Throughout the show’s run, Mittal has invested in dozens of businesses ranging from consumer goods to D2C brands to logistics.
Personal Life
Anupam Mittal married Aanchal Kumar, a former model and actress, in Rajasthan in 2013. The couple has a daughter named Alyssa Anantara Mittal. Mittal is quite private about his personal life and rarely shares any information about his family on social media.
However, he is known to spend quality time with his daughter whenever he is not busy with work. He is also often seen posting about his travel adventures on his social media accounts.
Angel Investments Philosophy and Portfolio
As mentioned above, Mittal has been a prolific angel investor ever since roughly 2007. As of now, his investment portfolio reportedly contains more than 200 companies spanning multiple sectors, including fintech, consumer tech, SaaS, mobility, and direct-to-consumer products.
Some of the most notable companies he has invested in are listed below:
Sector
Companies (Examples)
Mobility & Cabs
Ola Cabs (early investor)
E-commerce & Grocery
BigBasket
Logistics & Delivery
Rapido
Fintech
MobiKwik
Content & Social
Trell
D2C Consumer Brands
Nasher Miles, Skippi Ice Pops
Health & Wellness Tech
Sunfox Technologies
Real Estate & Hospitality
PropTiger, FabHotels
Social Impact
Ketto
Mittal is widely considered one of India’s most successful angel investors, with an impressive track record of investing in multiple companies that eventually went on to become some of the most recognizable brands in the country.
He has also been one of the most consistent early-stage investors in the Indian startup ecosystem long before his current fame and stardom.
Why Anupam Mittal’s Biography is Worth Knowing About
There are multiple reasons why one should be familiar with the professional and personal life of Anupam Mittal. He represents one of the few successful entrepreneurs who not only survived the dot-com crash but was also able to reinvent his business model while still staying relevant and profitable.
While many of his contemporaries were laying off employees and abandoning their business ideas in the wake of the 2000 dot-com crash, Mittal continued to grow his company.
In addition to maintaining the successful Shaadi.com matrimonial portal, he also launched a slew of other successful online ventures such as Mauj Mobile and Makaan. com.
FAQs
What is Anupam Mittal’s net worth?
As per media reports, Anupam Mittal’s net worth is estimated to be between ₹185 crore and ₹215 crore.
What is Anupam Mittal famous for?
Anupam Mittal is famous for being the founder of Shaadi.com and one of the judges on the business reality show, Shark Tank India.
Where did Anupam Mittal study?
Anupam Mittal studied in Mumbai till the higher secondary level. After which he joined Jai Hind College and later pursued an MBA from Boston College, USA.
When did Anupam Mittal start Shaadi.com?
Anupam Mittal started Shaadi. com (then named Sagai. com) in 1997. It operates out of his parent company, People Group, which he founded in 1996.
Who is Anupam Mittal’s wife?
Anupam Mittal is married to model and actress Aanchal Kumar, who also happens to be his co-star in the film Flavors. The couple got married in Rajasthan in 2013. They have one daughter together named Alyssa Anantara Mittal.
How many Startups has Anupam Mittal invested in?
Some reports suggest that Anupam Mittal has invested in more than 200 companies since he started angel investing around 2007.
What other companies did Anupam Mittal found apart from Shaadi.com?
Anupam Mittal has founded many online companies, some of which include Mauj Mobile, a downloadable content company launched in 2005, and Makaan. com, a real estate company launched in 2007. In addition to these, he was also the President of the Internet and Mobile Association of India (IAMAI) around 2006 – 2007.
What is Anupam Mittal’s investment philosophy?
Anupam Mittal follows the so-called “T5” philosophy while making his investment decisions. His preferred investment areas include extremely large total addressable markets (TAMs).
He usually looks for a small founding team (two to three members), with the majority having prior experience working in the intended domain, as larger founding teams have a higher likelihood of facing disagreements.
Is Anupam Mittal a self-made billionaire?
Anupam Mittal comes from a business family; hence, his self-made billionaire status is largely debated. Although he comes from a family of entrepreneurs, the majority of his wealth can be attributed to the successful companies he has founded and invested in.
Has Anupam Mittal worked in the entertainment industry?
Yes, in addition to being a successful businessman and investor, Anupam Mittal has worked in the entertainment industry as well. He has appeared in a couple of Bollywood films, namely Flavors (2003) and 99 (2019), as an actor and a producer, respectively.
Conclusion
Anupam Mittal’s journey from being a middle-class Marwari to one of India’s most successful billionaires serves as an inspiration to many. He has been successful in his own right, building one of India’s largest matrimonial service sites and investing in over 200+ startups.
Anupam Mittal is currently one of the judges on the reality TV show, Shark Tank India, scouting for worthy startups to invest in. Anupam Mittal is a self-made entrepreneur whose story provides valuable insight and inspiration to young aspiring entrepreneurs looking to make it big in India’s dynamic business environment.
India has become one of the world’s fastest-growing fintech markets. Digital payments, online investments, digital lending, and insurance services have changed the way people manage money. Government initiatives like Digital India, Aadhaar, and the Unified Payments Interface (UPI) have encouraged millions of people to use digital financial services.
Today, fintech startups are helping individuals and businesses complete transactions faster, invest more easily, and access financial products with just a smartphone. These companies are also supporting financial inclusion by bringing banking and payment services to people across the country.
Here are the top fintech startups in India that are driving innovation and shaping the future of digital finance in 2026.
PhonePe is one of the largest fintech startups in India. Sameer Nigam, Rahul Chari, and Burzin Engineer founded the company in 2015 with the goal of making digital payments simple, secure, and accessible for everyone. The company is headquartered in Bengaluru and has become one of the country’s leading financial technology platforms.
The PhonePe app allows users to send and receive money through UPI, pay utility bills, recharge mobile phones, book travel tickets, and make payments at offline and online stores. Users can also invest in mutual funds, buy digital gold, purchase insurance, and access lending products through the platform.
PhonePe has built a large merchant network that enables businesses of all sizes to accept digital payments. The company also offers payment solutions, business loans through partners, and financial services for merchants.
The platform continues to expand beyond payments by adding new investment and financial products. Its focus on innovation, customer convenience, and financial inclusion has helped PhonePe remain one of India’s most valuable fintech startups in 2026.
Razorpay
Image Courtesy: Razorpay Official Website
Razorpay Overview
Particular
Details
Founded
2014
Founder(s)
Harshil Mathur, Shashank Kumar
Headquarters
Bengaluru, Karnataka
Industry
Fintech
Main Services
Payment Gateway, Business Banking, Payroll, Payment Links
Razorpay is one of India’s leading fintech companies for businesses. Harshil Mathur and Shashank Kumar founded the company in 2014 after identifying the need for a simple online payment solution for Indian startups and businesses. The company is based in Bengaluru and serves businesses of every size.
Razorpay started as an online payment gateway, but it has expanded into a complete financial platform. Businesses can accept payments through cards, UPI, net banking, wallets, EMI options, and international payment methods using a single integration.
The company also offers RazorpayX, which helps businesses manage banking, payroll, vendor payments, and expense tracking from one platform. Its payment links, subscription billing, and payment gateway products are widely used by startups, e-commerce companies, educational institutions, and large enterprises.
Razorpay continues to introduce new financial products that simplify business banking and digital payments. Its strong technology platform and customer-focused approach have made it one of India’s most successful B2B fintech startups.
CRED
Image Courtesy: CRED Official Website
CRED Overview
Particular
Details
Founded
2018
Founder(s)
Kunal Shah
Headquarters
Bengaluru, Karnataka
Industry
Fintech
Main Services
Credit Card Bill Payments, Personal Loans, Rewards, Shopping, Rent Payments
CRED is one of India’s most popular consumer fintech startups. Kunal Shah founded the company in 2018 to reward people who pay their credit card bills on time. The company is headquartered in Bengaluru and focuses on providing financial services to customers with good credit scores.
The CRED app allows users to pay credit card bills and earn reward points that they can redeem for shopping, travel, dining, and exclusive offers. Over the years, the company has expanded beyond rewards and now offers personal loans, rent payments, vehicle-related services, and financial products through partner institutions.
CRED has built a strong brand by focusing on premium users and offering a clean, easy-to-use app. The company also uses technology to provide personalized recommendations and financial services based on customer needs.
Today, CRED is much more than a bill payment platform. Its expanding ecosystem and loyal customer base make it one of India’s leading fintech startups in 2026.
Groww has made investing easier for millions of Indians. Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal founded the company in 2016 with the aim of making investment products simple and accessible for everyone. The company is headquartered in Bengaluru.
Groww first gained popularity as a mutual fund investment platform. It later expanded its services to include stock trading, exchange-traded funds (ETFs), IPO investments, fixed deposits, and other wealth management products. Its simple interface has encouraged many first-time investors to begin their investment journey.
The platform also provides educational resources that help users understand investing before making financial decisions. This approach has helped Groww build trust among young professionals and new investors.
Groww continues to introduce new investment products while improving its technology and customer experience. Its rapid growth and focus on financial education have made it one of India’s top wealth-tech companies.
BharatPe
Image Courtesy: BharatPe Official Website
BharatPe Overview
Particular
Details
Founded
2018
Founder(s)
Ashneer Grover, Shashvat Nakrani
Headquarters
New Delhi
Industry
Fintech
Main Services
Merchant Payments, QR Codes, Business Loans, POS Solutions
BharatPe is one of India’s leading fintech startups for merchants and small businesses. Ashneer Grover and Shashvat Nakrani founded the company in 2018 to help shopkeepers accept digital payments easily and gain access to financial services. The company is headquartered in New Delhi.
BharatPe became popular by providing QR code-based UPI payment solutions without charging merchants transaction fees. Today, the company also offers business loans, card payment machines, merchant financing, and other digital payment solutions designed for micro, small, and medium enterprises (MSMEs).
The company uses technology and transaction data to help merchants access credit faster than traditional banking methods. This has allowed many small businesses to expand without lengthy loan approval processes.
BharatPe continues to strengthen India’s digital payment ecosystem by helping businesses move toward cashless transactions. Its focus on merchant empowerment and financial inclusion makes it one of the country’s most important fintech startups.
Navi
Image Courtesy: Navi Official Website
Navi Overview
Particular
Details
Founded
2018
Founder(s)
Sachin Bansal, Ankit Agarwal
Headquarters
Bengaluru, Karnataka
Industry
Fintech
Main Services
Personal Loans, Home Loans, Insurance, UPI, Mutual Funds
Navi is a fast-growing fintech startup that offers digital financial services through a single mobile app. Sachin Bansal and Ankit Agarwal founded the company in 2018 with the aim of making financial products simple, affordable, and accessible. The company is headquartered in Bengaluru.
Navi provides instant personal loans, home loans, health insurance, mutual fund investments, and UPI payment services. Most of these services are completely digital, allowing customers to apply, verify documents, and receive approvals without visiting a branch.
The company focuses on reducing paperwork and speeding up financial services through technology. Its simple application process and quick loan approvals have helped Navi attract millions of users across India.
Navi continues to expand its digital finance ecosystem by introducing new products and improving customer experience. Its technology-first approach has made it one of the leading fintech startups in India in 2026.
Juspay is one of India’s leading payment technology startups. Vimal Kumar, Sheetal Lalwani, and Shyam Kumar founded the company in 2012 to simplify digital payments for businesses and improve the online checkout experience. The company is headquartered in Bengaluru and serves many of India’s largest banks, fintech companies, and e-commerce platforms.
Juspay provides payment infrastructure that helps businesses process online transactions quickly and securely. Its products support UPI, credit cards, debit cards, net banking, digital wallets, and other payment methods through a single platform. The company also offers payment orchestration, tokenization, one-click checkout, and fraud prevention solutions that improve payment success rates.
Many well-known brands and financial institutions use Juspay’s technology to manage millions of transactions every day. The company focuses on building scalable payment systems that can handle high transaction volumes while maintaining strong security and reliability.
Juspay continues to introduce new payment technologies that support India’s growing digital economy. Its strong focus on innovation, enterprise payment solutions, and secure digital infrastructure has made it one of the country’s most influential fintech startups in 2026.
ACKO
Image Courtesy: ACKO Official Website
ACKO Overview
Particular
Details
Founded
2016
Founder(s)
Varun Dua
Headquarters
Bengaluru, Karnataka
Industry
InsurTech
Main Services
Car Insurance, Bike Insurance, Health Insurance, Travel Insurance
ACKO is one of India’s leading digital insurance companies. Varun Dua founded the company in 2016 to simplify the insurance buying process through technology. The company is headquartered in Bengaluru and operates entirely through digital platforms.
ACKO offers motor insurance, health insurance, travel insurance, and other insurance products directly to customers without relying on traditional agents. This digital-first approach helps reduce costs and makes policy purchases faster and more convenient.
The company has also focused on improving the claims process by using technology to speed up claim approvals and settlements. Customers can buy policies, renew insurance, and submit claims through the mobile app or website.
ACKO continues to introduce innovative insurance products while expanding its customer base across India. Its customer-friendly approach and digital services have made it one of the country’s most successful insurtech startups.
MobiKwik
Image Courtesy: MobiKwik Official Website
MobiKwik Overview
Particular
Details
Founded
2009
Founder(s)
Bipin Preet Singh, Upasana Taku
Headquarters
Gurugram, Haryana
Industry
Fintech
Main Services
Digital Wallet, UPI Payments, Bill Payments, Buy Now Pay Later (BNPL), Personal Loans
MobiKwik is one of India’s oldest fintech startups and has played an important role in the country’s digital payment journey. Bipin Preet Singh and Upasana Taku founded the company in 2009 to make digital payments faster and more convenient. The company is headquartered in Gurugram.
MobiKwik started as a digital wallet for mobile recharges and online payments. Over the years, it has expanded its services to include UPI payments, utility bill payments, personal loans, digital credit, insurance, and investment products. The company also offers Buy Now, Pay Later (BNPL) services that allow eligible users to make purchases and pay later.
The platform serves both individual customers and businesses by providing secure payment solutions and financial services. MobiKwik continues to improve its products by focusing on digital lending and financial inclusion.
With years of experience and a diverse range of services, MobiKwik remains one of the leading fintech companies in India in 2026.
Fi Money
Image Courtesy: Fi Money Official Website
Fi Money Overview
Particular
Details
Founded
2019
Founder(s)
Sujith Narayanan, Sumit Gwalani
Headquarters
Bengaluru, Karnataka
Industry
Neo Banking
Main Services
Digital Banking, Savings Accounts, Expense Tracking, Investments
Fi Money is one of India’s leading neo-banking startups. Sujith Narayanan and Sumit Gwalani founded the company in 2019 to create a smarter and more digital banking experience for customers. The company is headquartered in Bengaluru.
Fi Money partners with regulated banks to offer digital savings accounts and modern banking services through its mobile application. Users can track spending, automate savings, receive financial insights, and manage their money from one platform. The app also offers investment options and tools that help customers build better financial habits.
The company focuses on technology, data analysis, and customer convenience to make banking easier for young professionals and digital-first users. Its clean interface and smart money management features have helped it gain popularity in India’s growing neo-banking sector.
Fi Money continues to introduce new features that simplify personal finance, making it one of the most promising fintech startups in India.
The Future of Fintech in India
India’s fintech industry is expected to continue growing over the next few years. The increasing use of smartphones, affordable internet, and digital payment systems has encouraged more people to adopt online financial services. Government initiatives such as Digital India, UPI, Account Aggregator, and the Open Network for Digital Commerce (ONDC) are also creating new opportunities for fintech companies.
Artificial intelligence is becoming an important part of the fintech industry. Many startups now use AI to detect fraud, improve customer support, analyze spending patterns, and offer personalized financial recommendations. Embedded finance, digital lending, wealth management, and insurtech are also expected to see strong growth.
At the same time, fintech companies are focusing on sustainable growth, stronger cybersecurity, and compliance with financial regulations. These efforts will help build customer trust and support the long-term growth of India’s digital financial ecosystem.
Conclusion
India’s fintech ecosystem has transformed the way people save, spend, invest, and borrow money. Companies like PhonePe, Razorpay, Groww, CRED, BharatPe, Navi, Pine Labs, ACKO, MobiKwik, and Fi Money have introduced innovative solutions that make financial services faster, simpler, and more accessible.
These startups continue to support businesses, improve financial inclusion, and encourage digital payments across the country. As technology continues to evolve, India’s fintech sector is expected to play an even bigger role in shaping the future of the country’s economy.
Frequently Asked Questions (FAQs)
What is a fintech startup?
A fintech startup is a company that uses technology to provide financial services such as digital payments, lending, insurance, investments, or banking.
Which is the largest fintech startup in India?
PhonePe is one of the largest fintech startups in India based on its user base and digital payment volume.
Which fintech company is best for online payments?
PhonePe is widely used by consumers for UPI payments, while Razorpay is one of the leading payment solution providers for businesses.
Which fintech startup is best for investing?
Groww is one of the most popular investment platforms in India for stocks, mutual funds, ETFs, and IPOs.
What is a neo bank?
A neo bank provides banking services through digital platforms without operating traditional physical branches. Fi Money is a well-known example in India.
Which fintech startup provides digital insurance?
ACKO offers digital insurance products, including health, car, bike, and travel insurance.
Which fintech company mainly serves merchants?
BharatPe, Razorpay, and Pine Labs provide payment and financial solutions for merchants and businesses.
What is Buy Now, Pay Later (BNPL)?
Buy Now, Pay Later is a payment option that allows customers to purchase products immediately and pay for them later in installments or within a specified period.
Why is India’s fintech industry growing so quickly?
The industry is growing because of increasing smartphone usage, UPI adoption, government support, digital banking, and greater financial awareness among consumers.
What are the biggest trends in India’s fintech sector in 2026?
Some of the biggest trends include AI-powered financial services, embedded finance, digital lending, wealth management, neo banking, insurtech, and stronger cybersecurity.
Hyderabad has emerged as one of India’s leading technology ecosystems second only to Bengaluru.
Starting as a few software parks in the mid-90s, today Hyderabad’s IT landscape spans HITEC City, Gachibowli, Madapur, and the Financial District, housing home-grown engineering firms and the development centres of multinational technology giants.
The region is home to the headquarters of several of India’s leading home-grown technology companies as well as the regional and global headquarters of several multinational technology companies. You can also explore India’s rising AI startups to understand the country’s rapidly evolving AI ecosystem.
This article profiles the top ten IT companies in Hyderabad. The information has been collated in the form of a comparison that includes the year of inception, ownership, presence in Hyderabad, and key areas of operation.
Quick Comparison
Rank
Company
Founded
Owner / Parent
Hyderabad Presence
Core Services
1
TCS
1968
Tata Group
Deccan Park, Madhapur
IT Services, Consulting, BPO
2
Infosys
1981
Publicly held (N.R. Narayana Murthy, founder)
Pocharam campus
IT Consulting, AI, Cloud
3
Wipro
1945
Azim Premji (majority)
Financial District, Gachibowli
Cloud, Cybersecurity, IT Services
4
Tech Mahindra
1986
Mahindra Group
Hitec City
Telecom Tech, Digital Transformation
5
Cognizant
1994
Publicly traded (NASDAQ: CTSH)
Major delivery centre, Gachibowli
IT Services, Digital, BPO
6
Microsoft
1975
Publicly traded; Satya Nadella (CEO)
Gachibowli (India Development Centre)
Cloud (Azure), Software, R&D
7
Google
1998
Alphabet Inc. (publicly traded)
Financial District
Search, Cloud, AI
8
Amazon
1994
Jeff Bezos (founder); publicly traded
Financial District (large campus)
E-commerce Tech, AWS Cloud
9
Cyient
1991
B.V.R. Mohan Reddy (Founder Chairman)
HQ, Hyderabad
Engineering Services, Digital, Geospatial
10
ValueLabs
1997
Arjun Rao (Founder & Chairman)
HQ, HITEC City, Madhapur
Product Development, QA, Data & AI
Tata Consultancy Services (TCS): India’s IT Pioneer With Major Presence in Hyderabad
Image Courtesy:Tata Consultancy Services Official Website
Founded: April 1, 1968
Owner: Tata Group (majority owned by Tata Sons), publicly listed on BSE/NSE
Hyderabad Office: Deccan Park, Madhapur
As the world’s largest IT services company by market value, TCS is headquartered in Mumbai but has one of its largest centres in Hyderabad. The Deccan Park campus in Madhapur hosts one of TCS’s major operations, employing thousands of professionals.
TCS has a reputation for its long-standing partnerships with clients, with revenue from its operations in banking, retail, and manufacturing amounting to over 30 billion USD globally.
The company’s global R&D and business innovation centre in Hyderabad contributes significantly to its revenues from cloud, AI, and enterprise software.
What does TCS do?
Offers integrated IT services and consulting, business solutions, and digital transformation services to enterprises.
Core services offered by TCS:
Software development, IT consulting, application management, cloud and AI services, business process outsourcing (BPO), cybersecurity, analytics, ERP and enterprise applications, and the ignio AI/ML cognitive automation platform.
Infosys: India’s Largest IT Services Company With Growing Hyderabad Campus
Image Courtesy: Infosys Official Website
Founded: July 2, 1981
Owner: Publicly listed (founded by N.R. Narayana Murthy and six others)
Hyderabad Office: Pocharam
While Infosys is headquartered in Bengaluru, its Pocharam campus hosts one of the largest IT parks in Hyderabad. Infosys is one of India’s largest IT services companies, with a market value of over 25 billion USD and operations in over 50 countries globally.
The Hyderabad campus supports the company’s significant operations in data analytics, cybersecurity, and enterprise IT for the healthcare, finance, and manufacturing sectors.As enterprises increasingly adopt AI-powered technologies, enterprise AI solutions are becoming a key focus for leading IT companies across India.
What does Infosys do?
Provides IT consulting, software development, and business process management services to enterprises.
Core services offered by Infosys:
AI and data analytics (Infosys Nia), cloud services (Infosys Cobalt), enterprise digital transformation, ERP, Agile DevOps, customer experience design, cybersecurity, and BPO (Infosys BPM).
Wipro: Diversified Technology Company With Roots in Hyderabad
Image Courtesy: Wipro Official Website
Founded: 1945
Owner: Azim Premji (majority), publicly listed on BSE, NSE, and NYSE
Hyderabad Office: Financial District, Gachibowli
Wipro traces its roots to the vegetable oil company founded by Mohamed Premji. It was his son Azim Premji who transformed it into a technology company beginning in the 1980s, and he continues to serve as the Chairman of Wipro.
With over 200,000 employees, Wipro has one of its largest offices in Hyderabad’s Financial District.
What does Wipro do?
Provides IT services, consulting, and business process management with an emphasis on cloud, AI, and digital transformation.
Core services offered by Wipro:
Cloud strategy and execution (Wipro FullStride Cloud), AI and data analytics, cybersecurity, application development and maintenance, and business process services for BFSI, healthcare, energy, and manufacturing clients.
Tech Mahindra: IT Services Company Focused on Telecom Sector
Image Courtesy: Tech Mahindra Official Website
Founded: 1986 (as a joint venture between Mahindra & Mahindra and British Telecom)
Owner: Mahindra Group (publicly listed; Anand Mahindra is Chairman)
Hyderabad Office: HITEC City
Tech Mahindra was initially launched as Mahindra British Telecom and transformed into an independent technology company under the leadership of the Mahindra Group. With over 148,000 employees across 90 countries, Tech Mahindra has built its reputation as a technology provider to telecom carriers.
What does Tech Mahindra do?
Provides IT services, digital solutions, and telecom services to large enterprises.
Core services offered by Tech Mahindra:
5G and network services, AI and automation, cloud services, BPO and customer experience management, cybersecurity, enterprise applications, and blockchain solutions.
Cognizant: Global IT Services Major With Significant Delivery Operations in Hyderabad
Image Courtesy: Cognizant Official Website
Founded: January 26, 1994
Owner: Publicly listed (NASDAQ: CTSH); originally founded as the technology subsidiary of Dun & Bradstreet, with Kumar Mahadeva as the founding CEO
Hyderabad Office: Gachibowli
Cognizant was founded in the United States and evolved from its parent Dun & Bradstreet’s in-house technology division into an independent publicly listed company.
Cognizant is headquartered in Teaneck, New Jersey, and has over 300,000 employees worldwide, with Hyderabad being its major delivery centre in India.
What does Cognizant do?
Offers IT services and solutions to large enterprises and is focused on digital transformation consulting and services.
Core services offered by Cognizant:
Digital engineering and cloud transformation services, AI and analytics, enterprise application services (SAP, Salesforce, Microsoft), intelligent process automation (IPA), healthcare technology, and cybersecurity and managed security services.
Microsoft: One of Hyderabad’s Largest R&D Centres for a US-based Technology Company
Image Courtesy: Microsoft Official Website
Founded: 1975
Owner: Publicly traded; Satya Nadella serves as Chairman and CEO
Hyderabad Office: Gachibowli (Microsoft India Development Centre)
Founded by Bill Gates and Paul Allen in 1975, Microsoft is headquartered in Redmond, Washington. Hyderabad’s Microsoft office is among the company’s largest R&D centres globally, spanning roughly 54 acres.
Interestingly, Hyderabad is also where the current CEO, Satya Nadella, studied and pursued his higher education.
What does Microsoft do?
Develops, sells, and services software, cloud computing platforms, personal computers, and related products and services.
Core services offered by Microsoft:
Cloud computing platforms (Microsoft Azure), enterprise software, AI and machine learning platforms, productivity tools (Microsoft 365), R&D for global product development, and developer tools.
Google: One of the Largest Offices Outside the US for this Global Tech Giant
Image Courtesy: Google Official Website
Founded: 1998
Owner: Alphabet Inc. (publicly traded), founded by Larry Page and Sergey Brin
Hyderabad Office: Financial District
Founded by Larry Page and Sergey Brin while they were students at Stanford University, Google has since become one of the world’s leading technology companies. Alphabet Inc., the parent organization of Google, is officially headquartered in Mountain View, California.
Hyderabad hosts Google’s largest office outside the US and serves as the company’s significant regional hub for its search engine and cloud computing divisions.
What does Google do?
Provides internet-related software, hardware, and services.
Core services offered by Google:
Search engine, cloud computing, advertising technology, and AI-driven platforms.
Amazon: One of the Largest Offices Outside the US for this Global Tech Giant
Image Courtesy: Amazon Official Website
Founded: 1994
Owner: Publicly traded; founded by Jeff Bezos
Hyderabad Office: Financial District
Amazon was founded by Jeff Bezos in 1994 as an online bookstore and has since evolved into one of the world’s largest technology companies.
Amazon Web Services (AWS) comprises the cloud computing division of Amazon, and its Hyderabad office hosts some of the company’s largest operations in the e-commerce and logistics technology space.
What does Amazon do?
Operates e-commerce Marketplaces, cloud computing, digital media and entertainment, and artificial intelligence platforms.
Core services offered by Amazon:
AWS cloud infrastructure and services, e-commerce platform engineering, logistics and supply chain technology, AI and machine learning services, and digital media technology.
Cyient: Hyderabad-based Engineering and Digital Solutions Company
Image Courtesy: Cyient Official Website
Founded: August 28, 1991 (rebranded from Infotech Enterprises in 2014)
Owner: B.V.R. Mohan Reddy (Founder Chairman)
Hyderabad Office: Headquarters
Unlike other companies on this list, Cyient is a home-grown Hyderabad-based company that was founded by Dr. B.V.R. Mohan Reddy in 1991. In its early years, Cyient served as an outsourced engineering services provider that operated from its Hyderabad offices under the brand name Infotech Enterprises.
The company has undergone a rebranding process and is now known as Cyient, offering a wide range of engineering and digital technologies under the “Engineered in India” brand.
Cyient has seen exponential growth over the years, with its engineering services now being utilized by clients in the Aerospace, Telecom, Transportation, and Manufacturing sectors.
What does Cyient do?
Provides engineering, digital, and geospatial solutions to enterprises around the world.
Core services offered by Cyient:
Engineering design and product development, geospatial and GIS solutions, digital transformation and data analytics, network engineering solutions, and plant and asset engineering services.
ValueLabs: Hyderabad-based Product Engineering and Technology Consulting Company
Image Courtesy: ValueLabs Official Website
Founded: 1997
Owner: Arjun Rao (Founder and Chairman)
Hyderabad Office: Headquarters, HITEC City, Madhapur
ValueLabs was among the first technology companies to be founded in Hyderabad and has since evolved into a global technology services company.
It has expanded its operations to nearly 30 global delivery centres today. ValueLabs is headquartered in HITEC City, Madhapur, and continues to be led by its founder, Arjun Rao.
What does ValueLabs do?
Provides product engineering, quality engineering, and technology consulting services.
Core services offered by ValueLabs:
Software product development, quality assurance testing services, data and analytics solutions, AI/ML and agentic AI solutions, cloud engineering, and technology consulting.
FAQs
Which is the oldest IT company with operations in Hyderabad?
While Wipro has the longest-running corporate history (founded in 1945), it did not start its IT services operations until the early 1980s. Cyient, which traces its roots to 1991, is among Hyderabad’s oldest IT companies.
Which IT companies are actually headquartered in Hyderabad, and which merely have an office there?
Cyient and ValueLabs are companies that were founded in Hyderabad and continue to be headquartered there. All the other IT companies on this list have their headquarters in other cities but have significant operations in Hyderabad.
Which Hyderabad-based IT company is best for freshers?
TCS and Infosys both have robust training and development divisions that are ideal for freshers. Wipro and Cognizant also have a large campus hiring footprint for fresh graduates.
Is Hyderabad a better option compared to Bengaluru when it comes to IT careers?
Both Hyderabad and Bengaluru have excellent IT ecosystems. While Bengaluru has greater start-up vibrancy, Hyderabad offers more affordable living and has large multinational campus setups.
Which company has the largest campus in Hyderabad?
Google, Amazon, and Microsoft each have significant office presences in Hyderabad. Microsoft’s Gachibowli office spans 54 acres, making it among the largest technology campuses in the city.
When was TCS founded, and who owns it?
TCS was founded in 1968 and is primarily owned by Tata Sons, with listings on the BSE and NSE.
What is Cyient, and when was it founded?
Cyient is a technology solutions company that was founded in 1991 by Dr. B.V.R. Mohan Reddy in Hyderabad.
Is ValueLabs a Hyderabad-based company?
Yes, ValueLabs was founded in Hyderabad in 1997 and continues to be headquartered there.
Which global IT companies have significant operations in Hyderabad?
Microsoft, Google, Amazon, Cognizant, and Accenture are some of the global IT companies that have significant operations in Hyderabad.
Why do IT companies locate themselves in Hyderabad?
Hyderabad has a pool of engineering talent, with premier institutes such as IIT Hyderabad and the University of Hyderabad. Compared to other Indian cities, Hyderabad has lower commercial real estate prices. Combined with proactive government policies, Hyderabad has drawn in global IT companies looking to set up large operations in India.
Conclusion
Hyderabad’s IT companies represent India’s deep technology expertise and innovation. Hyderabad is home to some of India’s largest and most successful IT companies, including TCS, Infosys, Wipro, Tech Mahindra, and Cognizant.
Hyderabad is also home to large development centres for global technology companies, including Microsoft, Google, Amazon, and Accenture. Hyderabad has become a major hub for innovation, with companies like Hyderabad-basedSkyroot Aerospace showcasing the city’s growing influence in deep-tech and aerospace.
Hyderabad continues to attract domestic and international technology companies due to the combination of engineering talent and affordable costs. The above-mentioned ten companies represent why Hyderabad is among the most desired locations for technology careers in India.
The financial numbers of Axis Bank have been officially announced for the June quarter, and the numbers exceeded general market expectations. Axis Bank, the 3rd-largest private sector lender in the Indian market by market capitalization, reported a solid 23% jump in standalone profit. The banking entity reported a standalone net profit of ₹7,114 crore (approximately $738.89 million). The financial performance demonstrates a significant upward trend compared with the previous fiscal year’s period of ₹6,369 crore net profit, achieved by the private lender.
Primary operational drivers and income expansion
The profit figures generated by the private lender were far more than enough to beat the average of the estimates compiled by the financial analysts. Data compiled by LSEG showed that industry estimates had anticipated Axis Bank to report a net profit of ₹6,550 crore in the 1st quarter.
The bank managed to beat these metrics thanks to a positive performance in interest income from its primary business line and a large decline in the total amount of money provisioned for non-performing assets. This earnings achievement is deemed a positive beginning to the financial cycle, in light of the improvement in credit demand from several consumer groups that continues to drive the company’s base operating metrics going forward as a commercial lender.
Net interest income was the key operational contributor to the rise in profitability in Axis Bank’s June quarter. The net interest income of the lender grew by 8% to reach a total of ₹14,646 crore in 3 months.
The rise in interest income was associated with a robust period for the structural absorption of credit as the domestic loan book grew by 19%. While the bank expanded its lending reach, the total deposit base of the commercial banking institution grew by 6% in the same quarter.
This significant surge in overall loan deployment has been seen across the Indian banking sector from April, led by credit categories. The platform received a boost from strong appetites for loan products backed by gold assets and personal credit products from consumer demand.
The total amount of credit taken by small business enterprises has increased on their own accord during this time. The presence of explicit government default guarantees was a factor in supporting this segment of commercial credit demand, providing relief for small businesses amidst various economic disruption events associated with the current Iran war.
Credit provisions reduction and historical benchmark
Another critical factor that directly boosted the net profit of Axis Bank was a significant drop in its credit provisioning requirements. The bank’s provisions for credit losses, which account for the amount set aside to cover future bad loans and other credit losses, dropped 44% to ₹2,222 crore in the current quarter.
The reduction in credit provision showed that the bank had less need to allocate capital to write down loans on the balance sheet, therefore giving it more room to show operational income in the net profit line. However, the bank’s bottom line profitability margins faced a slight compression in the 1st quarter.
The net interest margin, which is an indicator of structural profitability, fell to 3.46% for the June quarter. This metric reflects a decline from the net interest margin recorded by the commercial bank during the previous three months, which stood at 3.62%.
The bank’s other income stream, which includes income generated from its active treasury activities, dropped by 7%. This non-interest revenue source declined to ₹6,735 crore, mainly due to the prevailing volatility in both the global currency and bond markets.
The overall asset quality of Axis Bank stood broadly unchanged in the 1st quarter despite experiencing rapid growth in the underlying asset base; it has therefore witnessed limited fluctuations. The gross non-performing asset ratio of the private lender at the end of the June quarter was 1.28%.
This is marginally above the lender’s gross non-performing asset ratio of 1.23% observed during the last 3 months. The marginal change reflects that the overall credit quality of the loan portfolio remains within manageable operational thresholds.
Comparable prior year’s figures are affected by certain asset adjustments when examined in terms of the historical performance of the bank. During the comparable first quarter last year, Axis Bank had accounted for a one-time write-off for a segment of its commercial loan portfolio.
The bank issued that statement at that particular time after it had conducted an exercise to benchmark its credit overdraft facilities against industry standards. The bank’s ability to produce its projected profit growth of 23% was made smoother by the lack of comparable 1-time Balance sheet disruption in the current quarter.
Conclusion
The 1st quarter earnings report reflects an aggressive domestic credit growth strategy and Axis Bank’s robust business model that enabled the company to be able to report earnings in a streaking mode. The private lender, by earning a standalone net profit of ₹7,114 crore, had demonstrated that positive growth in the personal credit portfolio, gold loans, and small business lending can offset the compression in the net interest margin category and reduce the decline in treasury income.
The bank has achieved stable asset quality with a gross NPA ratio of 1.28%, coupled with the cutting of provisions by 44% from ₹2,695 crore and the addition of net interest income by 8% from ₹13,945 crore. The private banking institution was able to maintain positive performance despite external market volatility by coming in better than the consensus analyst estimates of ₹6,550 crore, thus establishing a positive operating trend for the remainder of the fiscal year.
The strong performance in Q1 of FY27 was evident from RBL Bank‘s standalone net profit, which grew by 26.64% YoY. The net profit after tax was at ₹253.70 crore during the quarter in the related month ended 30 June 2026, against ₹200.33 crore in the same period of the previous fiscal year. During the first quarter of FY27, the total income of the bank rose 6.40% YOY to reach ₹4,799.68 crore due to notable growth in the income from the top line.
Substantial upgrades and expansion
The bank also reported a gain before tax of ₹323.51 crore in FY27 first quarter, which was up 24.12% from the year-ago figure of ₹260.63 crore. Provisions other than tax and contingencies rose 35.48% year-on-year to ₹599.28 crore, despite the significant increase in pre-tax safety buffers.
Operationally, there has been an increase of 11.73% YOY in net interest income to ₹1,654.4 crore, whereas the operating profit for the quarter was ₹922.8 crore, a 31% Y-o-Y increase. The net interest margin of the bank was down slightly to 4.13% for Q1 of the current year from 4.50% for the same period last year.
One notable aspect of this quarter was the remarkable improvement in lender stressed asset data, reflecting improved conditions in its credit portfolio. The bank had non-performing assets totaling 1.30% of total assets as at 30 June 2026 compared to 2.78% of total assets as at 30 June 2025.
Similarly, the net NPA ratio declined from 0.45% of total assets in the previous year to 0.37%, reflecting the positive trend. The bank retained a strong security margin over potential credit losses, with its provision coverage ratio inclusive of technical write-offs of 94.94%.
Net advances grew by 23% year-on-year to ₹1.16 lakh crore, reflecting the improvement in asset quality, as of June 30, 2026. The lender’s structuring mix remained balanced at 55% retail and 45% wholesale.
Total retail advances rose 13% to ₹64,196 crore, reflecting a primary jump of secured retail advances by 18% to ₹36,561 crore and a secondary advance of 8% in unsecured retail loans to reach ₹27,635 crore. The wholesale advances, on the other hand, rose 38% to reach ₹52,027 crore, with a 36% increase in the commercial banking group playing a major role in it.
The growth was steady for liabilities, as RBL Bank had been seeing a consistent expansion in its core funding base with total deposits increasing year-on-year by 11% to Rs 1.25 lakh crore as of June 30, 2026. The upward trend was more pronounced for the average total deposits of the bank, which rose by 24% to ₹1.29 lakh crore.
During the current quarter, the total deposits in current accounts and savings accounts were only marginally impacted, holding steady at ₹36,468 crore of deposits, leaving the bank with a standalone CASA ratio of 29.2% and an average CASA ratio of 25.2%. The bank placed significant emphasis on creating a sticky retail deposit base, given that granular deposits, defined as all deposits under ₹3 crore, grew 13% YoY to ₹65,365 crore.
These smaller retail accounts now account for 52.4% of total deposits. The overall stable financial funding architecture is evident in the share of stable CASA deposits and retail term deposits with value lower than ₹3 crore, taken together, equating to 65% of the bank’s total banking deposit base.
Capital infusion and strategic network distribution
A significant capital infusion has brought about a paradigm shift in the financial standing of RBL Bank during the quarter. The bank completed the preferential allotment to Emirates NBD Bank and injected around $2.75 billion (about ₹26,000 crore) into the bank.
In this huge capital injection, Emirates NBD Bank now holds a stake of 60 per cent in the enlarged share capital of RBL Bank and is registered as the bank’s corporate promoter. As per the 30 June 2026 figures, the total capital adequacy ratio has jumped significantly from 14.2% to 33.3%.
Simultaneously, the Common Equity Tier-1 ratio of the bank has gone up to 32.2% as against 12.8% recorded previously. The average liquidity coverage ratio was 133%, reflecting a robust level of liquidity coverage.
In addition, RBL Bank’s physical distribution network kept growing, reaching a total of 1,967 touchpoints by June 30, 2026. This comprehensive network comprises 628 standard bank branches, which includes 25 brand new branches opened up during the first quarter alone, and 1,339 business correspondent branches.
Of these business correspondent branches, 251 were direct outlets of the banks, while the wholly owned subsidiary company of the bank, known as RBL Finserve, had 1,080 business correspondent branches. The board of directors has okayed a proposal to request explicit shareholder approval for raising the entire borrowing limit of the bank to ₹40,000 crore as per the Companies Act, 2013.
The board also passed a separate resolution to raise up to ₹10,000 crore through a private placement of debt securities in the domestic or overseas markets. This fundraising permission will be in effect for 1 year after the approval at the upcoming annual general meeting.
Conclusion
FY27 was a turning point for RBL Bank, marked by a 27% rise in net profit, a significant improvement in asset quality, and a massive infusion of billions of dollars by Emirates NBD Bank, allowing the credit rating to rise to AAA. The institution has enhanced its capital position, while simultaneously fortifying its retail deposit base, enabling it to adapt for sustained institutional development in a growing distribution network. The market responded positively to these comprehensive financial disclosures, with the shares of RBL Bank rising by 1.49% to ₹368.10 on the BSE.
