REGENCY FINCORP LIMITED

Lends to underserved micro, small and medium enterprises and salaried retail borrowers in Tier-2 cities across five northern Indian states, operating through 310-plus branches that serve over 16,000 customers. The core business is secured MSME lending, whose book grew 44% quarter-on-quarter to ₹230 cr in Q1 FY27, almost 5x year-on-year, and now represents about 67% of total AUM of ₹345 cr. A digital salaried-lending platform called Cash My Salary was launched in the quarter and built a ₹23 cr AUM within weeks; the mix of unsecured personal loans in the book has been cut from 26% to 18% to harden asset quality. Q1 FY27 total income of ₹17.4 cr was 86% higher year-on-year, and the company earned a ₹7 cr profit after tax, with GNPA at 0.98% and NNPA at 0.74%. Lending is funded by listed NCDs (raised at 13-14% coupons) and bank term loans, with a blended cost of funds of 13.25% that the company plans to bring down to 11.75-12.5% by FY27 end. Employee costs of 12.9% of revenue and other operating costs of 11.9% are the main operating expenses, while the biggest input cost is the interest paid on borrowed money used to on-lend.