CRED-Backed NewTap Finance’s FY26 Profit More Than Doubles To ₹2.4 Cr

CRED-backed NBFC NewTap Finance reported a significant increase in its net profit, more than doubling to ₹2.4 Cr in the financial year ended March 31, 2026 (FY26), from ₹1 Cr in the previous fiscal year. This growth was driven by a sharp expansion in the lender's managed loan portfolio, with total income excluding interest expense jumping 116% to ₹259 Cr in FY26.

NewTap's return on assets improved to 0.25% from 0.15%, and its managed assets under management (AUM) stood at ₹4,582 Cr at the end of FY26, having grown at a CAGR of about 156% between FY23 and FY26. The NBFC's portfolio is largely generated through a co-lending-led model involving banks and other NBFCs, with around 81% of its AUM held off-book under non-first-loss default guarantee (FLDG) arrangements.

Brief written by urgent.news from Inc42's own syndicated text. Machine-written — may contain errors; check the original before relying on it.