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Revenue
₹449 Cr
verification pending
Revenue YoY
21.3%
reported change
EBITDA
Pending
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Aye Finance delivered a strong Q3 FY26 with PAT surging 87% YoY to ₹43 crore, driven by improving credit quality and operating leverage. Disbursements grew 35% YoY to ₹1,310 crore, while AUM expanded 23.5% YoY to ₹5,232 crore. Credit cost fell to 4.69% of AUM, the fourth consecutive quarterly decline, with collection efficiency on non-overdue loans at 99.3%. Management guided for 29-30% AUM growth in FY26 and a three-year vision of 30% CAGR, credit cost of 3.25-3.75%, and ROA of 4-4.5%. The mortgage book (21% of AUM) is scaling, and repeat loans (39% of growth) enhance efficiency. Key risk: elevated credit costs may normalize slower than expected if macroeconomic stress persists.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects full-year AUM growth of 29-30%, driven by strong Q4 disbursement momentum.
- Over the next three years, the company targets consistent 30% AUM growth, credit cost between 3.25% and 3.75%, and ROA of 4-4.5%.
- Management expects quarterly annualized credit cost to fall below 4% in Q4 FY26, setting up for FY27.
- The mortgage loan share is targeted to increase from current 21% to 30% of total AUM over the next three years.
Risks flagged
- A new Bihar ordinance on microfinance could impact collections, though management believes business loans are less affected and similar past state regulations had minimal impact.
- Credit cost at 4.69% remains above the target range of 3.25-3.75%; any delay in normalization could pressure profitability.
- The addition of 1,300-1,400 mortgage staff has increased operating expenses; profitability improvement depends on mortgage book scaling to absorb these costs.
- Increased supply in the mortgage segment could lead to pricing pressure, potentially offsetting benefits from lower credit costs.
Key quotes
- Our performance in quarter three clearly demonstrates the robustness of our business model and indeed the robustness of our customer segment.
- We are targeting to start the new financial year at a normal level of credit cost for a business segment.
- We believe that the mortgage share of the overall portfolio should increase to about 30% which is the ideal mix.
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