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Avenuesai Ltd — Q3 FY26
Avenues AI delivered a strong Q3 FY26, with consolidated gross revenue surging 122% YoY to ₹2,381 crore, driven by higher payment volumes and enterprise merchant growth.
bullish
high
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2-Minute Summary
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Avenues AI delivered a strong Q3 FY26, with consolidated gross revenue surging 122% YoY to ₹2,381 crore, driven by higher payment volumes and enterprise merchant growth. Net revenue grew 6% YoY to ₹149 crore, reflecting deliberate prioritization of volume over take rate. EBITDA rose 25% YoY to ₹98 crore, with margins expanding to 66% (up 1,000 bps YoY) due to operating leverage and cost discipline. PAT jumped 59% YoY to ₹86 crore, with PAT margin at 58%. Management upgraded FY26 guidance, citing sustained momentum. Key strategic developments include receipt of RBI in-principle PPI license, IFSCA approval for GIFT City, and offline PA authorization, positioning the company as an AI-native transaction infrastructure platform. The integrated ecosystem (Rediff, Rediff1, CCAvenue, Fonetic AI) is gaining traction, with AI reducing payment failures by 9%. Risk: Rapid expansion across multiple regulatory and product layers could dilute focus before flywheel economics fully materialize.
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Net take rate compression
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Payment failure reduction via AI
9%
N/A
AI-driven intelligent routing and fraud detection reduced payment failures in Q3.
Rediff1 merchant base
20,000+
N/A
Over 20,000 merchants onboarded on Rediff1 productivity suite.
ResAvenue hotel room nights booked
768,170
N/A
ResAvenue enabled 768,170 room nights in Q3, averaging 8,534 per day.
CC Avenue TPV (implied from slide 15)
~₹8-10 lakh crore
N/A
Analyst estimate of CC Avenue's annualized TPV based on management commentary.
Fast read
Guidance and risk preview
Management revised full-year FY26 guidance upward, reflecting improved business outlook and stronger operating momentum.
Net revenue growth of only 6% YoY despite 122% gross revenue growth indicates significant take rate compression, which may persist if competitive p...
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