IPO-Bound Navi's FY26 Loss More Than Triples to ₹466 Crore
Fintech startup Navi reported its net loss for FY26 widened to ₹466 crore, a more than threefold increase from the previous fiscal year. This occurred despite a rise in the company's operating revenue.
IPO-bound fintech startup Navi saw its net loss for the fiscal year FY26 more than triple, reaching ₹466 crore compared to ₹126.4 crore in the prior fiscal year. The company's financial results indicate a significant increase in overall expenses.
Despite the widening loss, Navi's operating revenue saw a 16.2% increase, rising to ₹2,981.7 crore from ₹2,565 crore in FY25. Including other income, Navi's total income for the year stood at ₹3,090.6 crore. However, total expenses crossed the ₹3,500 crore mark.
Navi, which claims a 3.5% market share and processes approximately 80 crore transactions monthly as India's fourth-largest UPI player, reported growth in its lending operations. Its lending book grew 57.2% year-on-year to ₹13,138 crore, with loan disbursements increasing by 73% to ₹23,332 crore. Assets under management reached ₹19,740 crore.
Credit rating agency CareEdge Ratings upgraded Navi's rating to CARE A+ based on improving profitability and a diversified resource profile. However, the agency flagged asset quality risks due to a high concentration of personal loans, which constitute 92% of Navi's assets under management.
The company, founded in 2018 by Sachin Bansal and Ankit Agarwal, offers lending, insurance, mutual funds, and UPI payments. Navi is reportedly preparing to file its IPO papers by December, aiming to raise ₹3,000 crore through a fresh issue of shares.