India’s largest private sector lender HDFC Bank has indicated a measured outlook for FY27, citing geopolitical uncertainties, even as it aims to sustain the growth momentum achieved in FY26. The bank reported 12% year-on-year credit growth in FY26, a significant improvement over 5.4% growth in FY25, although slightly below its earlier guidance of matching system wide credit growth. Managing Director and CEO Sashidhar Jagdishan said the bank remains focused on “responsible growth”, avoiding excessive expansion that could create future risks. Deputy MD Kaizad Bharucha added that while growth momentum is expected to continue, the bank will remain cautious given evolving…
Author: Adarsh Kumar
Personal care startup Clarity Labs has raised over ₹4 crore in a seed funding round led by Artha Venture Fund II, with participation from angel investors, at a pre-money valuation of ₹20 crore. The company plans to use the funds to accelerate product development, expand into new categories, and scale its omnichannel distribution across D2C, marketplaces, and quick commerce platforms. Founded in November 2025 by Karan Dokras, Clarity Labs focuses on functional, daily-use skincare solutions tailored for Indian consumers, with an emphasis on simplicity and effectiveness. The brand aims to address challenges in India’s personal care market, where consumers often…
Swedish telecom gear maker Ericsson reported a 29% year-on-year growth in India revenue to ₹4,228 crore for the January–March 2026 quarter, driven by higher network deployments and 5G rollouts. The company had posted revenue of around ₹3,272 crore in the same quarter last year on a comparable currency basis. India continues to be a key market for Ericsson, contributing 8% to its consolidated revenue in the March quarter, up from 7% a year ago, making it the company’s second largest market globally. Globally, Ericsson reported organic net sales growth of 6% to 49.3 billion Swedish Krona (SEK). However, reported growth…
Digital gold purchases through UPI continued their strong momentum in March 2026, with transactions reaching a record 254.44 million, while total transaction value stood at ₹3,171.96 crore, according to data from NPCI. Although the value was lower than the January peak of ₹3,926.47 crore, transaction volumes hit their highest ever level, indicating growing adoption. UPI has emerged as the dominant channel for digital gold purchases, accounting for over 90% of total transactions. The category has expanded across platforms such as Paytm, PhonePe, Jar, Amazon Pay, and Google Pay. The data reflects a shift in consumer behaviour, with users increasingly opting…
Private sector lender ICICI Bank reported an 8.49% year-on-year rise in net profit to ₹13,701.68 crore for the January–March quarter (Q4 FY26), driven by steady income growth and a sharp decline in provisions. The bank had posted a net profit of ₹12,629.58 crore in the corresponding quarter last year. Net Interest Income (NII) grew 8.4% YoY to ₹22,979 crore, compared to ₹21,193 crore in Q4 FY25, supported by strong loan growth and stable margins. The bank’s Net Interest Margin (NIM) stood at 4.32%, marginally higher than 4.30% in Q3 FY26, indicating continued efficiency in core lending operations. On the fee…
The Reserve Bank of India (RBI) conducted a ₹2 trillion variable rate reverse repo (VRRR) auction, witnessing strong participation from banks amid surplus liquidity conditions in the system. According to RBI data, the auction received bids worth ₹2.28 trillion, exceeding the notified amount of ₹2 trillion, indicating robust demand from banks to park excess funds with the central bank. The RBI had announced the auction to manage transient liquidity surplus, as excess funds in the banking system remained elevated. Liquidity surplus, measured by funds parked by banks under the liquidity adjustment facility (LAF), stood at ₹4.09 trillion on Thursday, down…
Credit-on-UPI fintech startup Kiwi’s cofounder Mohit Bedi has stepped down from his role as Chief Business Officer (CBO) and transitioned into an advisory position, according to sources familiar with the development. Bedi, who is stepping down due to personal and family commitments, will remain with the company until July 2026, after which he is expected to exit. He will, however, retain a significant equity stake in the company, reflecting continued confidence in its long term growth. Founded in 2022 by Anup Agrawal, Siddharth Mehta, and Mohit Bedi, Kiwi enables credit based transactions on UPI, allowing users to access credit while…
The Adani Group is set to invest around ₹1 trillion in the large scale Motilal Nagar redevelopment project in Goregaon West, significantly expanding its footprint in Mumbai’s real estate and urban infrastructure space. The project will be executed by Estatevue Developers Pvt Ltd, a subsidiary of the Adani Group, and is expected to be one of the most ambitious housing redevelopments in the country. As part of the development plan, Adani will receive a free-sale component of approximately 1.7 million square metres, which can be monetised in the open market at prevailing real estate prices. This component is likely to…
Cognizant CEO Ravi Kumar S saw his annual compensation increase 28% to $21.5 million in 2025, according to the company’s proxy filing with US regulators. Meanwhile, CFO Jatin Dalal witnessed a 30% decline in compensation to $7.08 million. Kumar’s pay package included $1.3 million in salary, $15.8 million in stock awards, and $4.4 million in non-equity incentive compensation. Unlike the previous year, he did not receive a bonus. However, his realised compensation stood at $10.7 million, lower than his target compensation of $19 million, mainly due to performance linked stock units that are yet to vest. Dalal, who previously worked…
Co-living and managed accommodation platform ZoloStays continued its growth momentum in FY25, reporting a 67% year-on-year rise in operating revenue while reducing losses by 38%. According to financial statements sourced from the Registrar of Companies (RoC), the company’s revenue from operations increased to ₹342.3 crore in FY25, compared to ₹204.4 crore in FY24. ZoloStays derives the majority of its income from accommodation and allied services for students, professionals, and organizations. This segment contributed nearly 80% of total operating revenue and surged 73.6% to ₹273 crore in FY25. The company also provides residential facility management services to colleges and universities, along…