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Net profit of Navi Finserv rose 3078.84% to Rs 591.90 crore in the quarter ended December 2023 as against Rs 18.62 crore during the previous quarter ended December 2022. Sales rose 27.78% to Rs 508.15 crore in the quarter ended December 2023 as against Rs 397.67 crore during the previous quarter ended December 2022.

Navi Finserv standalone net profit rises 3078.84% in the December 2023 quarter

Sachin Bansal's lending startup Navi Finserv raised Rs 150 crore through non-convertible debentures (NCDs) from six individual investors, according to the company's filing with the Registrar of Companies (RoC). The finance committee of the board of directors of the company has approved the allotment of NCDs with a face value of Rs 1,00,000 each, totalling Rs 150 crore through private placement, the regulatory filing showed. Among the investors are Dadachanji Group chairman Kairus Shavak Dadachanji, Pervin Kairus Dadachanji, and Rishad Kairus Dadachanji, investing Rs 110 crore. Also, individual investors including Rohit Kapadia, Sandhya Kapadia, and Yash Kapadia have invested Rs 40 crore. NCDs serve as fixed-income long-term instruments enabling large companies to raise public funds.

Sachin Bansal's Navi Finserv raises Rs 150 crore through NCDs

A day after the Reserve Bank of India slapped lending restrictions on Navi Finserv, the non-banking finance company has comforted bondholders that it has enough liquidity buffers, a person aware of the development said. The company has enough buffers to repay bondholders for up to a year, it has told investors, according to the person who spoke on condition of anonymity. The urgent meeting on Friday, which was led by Executive Director and CEO Sachin Bansal, included several banks and a select few brokerages, saying that the company maintains liquidity buffers worth Rs 1,500 crore and that debt servicing will not remain an issue.This amount is invested in government securities, the repo market, callable fixed deposits, and others. Following the RBI restrictions, Navi Finserv has scrapped its fundraising plans of Rs 100 crore through a public issue of bonds, the person said. As of October, the company has on-balance sheet debt repayment worth Rs 469 crore and on-book collections from customers of Rs 850 crore. As of September 30, the company had gross assets management worth Rs 8,218 crore under its personal loan book and and Rs 787 crore under the home loan book, the company disclosed to its bondholders. Total borrowings added up to Rs 7,532 crore at the end of the second quarter.

Sachin Bansal-Led Navi Finserv Comforts Creditors On Enough Liquidity Buffers, After RBI Ban

The track record of the company in both these segments remains limited along with the evolving nature of the credit engine especially for the personal loans. NFL launched its personal loans in April 2020 and home loans in February 2021.

With presence majorly in the personal loan segment, the company has aggressive write-off policy. With increased write-offs, credit cost stood at 5.89% in FY23 as against 3.79% in FY22.

Digital lending is gaining momentum & size, and the regulations in the industry are also evolving, exposing the industry to regulatory risk.

The issuer has made timely interest payments.

Mr Sachin Bansal, Chairman & CEO

Navi Technologies Limited holds a 100% stake in NFL as on March 31, 2023. NTL had a strong net worth of ₹3,171 crores as on March 31, 2023, and until FY23, NTL infused an equity capital ₹2,642 crore in NFL. NFL has a highly scalable business model, enabled by a digital lending process through its mobile application ‘Navi’ for PLs, with the entire process – from origination, credit underwriting, and disbursement – performed digitally.

Chaitanya India Fin Private Limited is a subsidiary of NFL which has been engaged in microfinance lending since 2009, with an operational vintage of more than 14 years up to date.


Company reported a PAT of Rs.264 crores on a total income of Rs.2,079 crores during FY23 as against a loss of Rs.15 crores on a total income of 820 crores during FY22. The losses during FY22 were on account of higher advertising costs in relation to the income.


Aided by regular capital infusion by the group on regular interval, NFL and CIFCPL has been able to maintain adequate capital adequacy over the past few years.

Security Name: 10.25% Navi Finserv Limited 31 Dec 2026

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INE342T07429

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Navi Finserv standalone net profit rises 3078.84% in the December 2023 quarter

Sachin Bansal's Navi Finserv raises Rs 150 crore through NCDs

Sachin Bansal-Led Navi Finserv Comforts Creditors On Enough Liquidity Buffers, After RBI Ban

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