Archive · 15 Aug 2026
CRED-Backed NewTap Finance's FY26 Profit Doubles to ₹2.4 Cr
NewTap Finance is a lending company in India that gives people small personal loans.
It is backed by CRED, a big Indian company that acts as its lending service provider.
In the year that ended in March 2026, NewTap made a profit of ₹2.4 crore, which is more than twice what it made the year before.
Its income also grew a lot, jumping from ₹120 crore to ₹259 crore in one year.
The company looks after loans worth ₹4,582 crore for its partners and itself.
Most of those loans are handled by partner banks, so NewTap does not have to keep them on its own books.
NewTap mostly lends to people with good credit scores, and more than 97% of its borrowers pay back their loans on time.
Still, the number of loans not being repaid went up a little, so the company is watching this closely.
Overall, NewTap is growing very fast and earning a bigger profit than ever before.
CRED-backed NBFC NewTap Finance's FY26 net profit more than doubled to ₹2.4 Cr from ₹1 Cr in FY25.
Total income excluding interest expense jumped 116% to ₹259 Cr in FY26 from ₹120 Cr in FY25, with return on assets improving to 0.25%.
Managed AUM reached ₹4,582 Cr at the end of FY26, growing at a CAGR of about 156% between FY23 and FY26, with 81% held off-book.
Gross Stage 3 assets rose to 0.94% from 0.77%, though collection efficiency averaged above 97% and about 90% of borrowers had credit scores above 750.
CRED has infused ₹56.4 Cr in equity and ₹80 Cr in subordinated debt into NewTap and provides corporate guarantees for all its external debt.
- Who
- NewTap Finance, a CRED-backed non-banking financial company (NBFC) incorporated in 2021; Kunal Shah indirectly owns 74.5% via Newtap Technologies, and CRED owns 25.2%.
- What
- Reported FY26 net profit of ₹2.4 Cr, more than double FY25's ₹1 Cr, with total income (excluding interest expense) up 116% to ₹259 Cr and managed AUM at ₹4,582 Cr.
- When
- Financial year ended March 31, 2026 (FY26), compared with FY25.
- Where
- India; NewTap operates across 23 states and four Union Territories.
- Why
- The NBFC sharply expanded its co-lending-led managed loan portfolio, driving higher income, profitability, and asset growth.
- FY26 Net Profit
- ₹2.4 Cr (FY25: ₹1 Cr)
- Total Income (excl. interest expense)
- ₹259 Cr, up 116% from ₹120 Cr
- Managed AUM
- ₹4,582 Cr at end of FY26
- Off-book AUM Share
- 81% (19% on balance sheet)
- Return on Assets
- 0.25%, up from 0.15%
- Gross Stage 3 Assets
- 0.94%, up from 0.77%
- CRED Infusion
- ₹56.4 Cr equity and ₹80 Cr subordinated debt
- Ownership
- Kunal Shah 74.5% (indirect); CRED 25.2%