KKR-Backed InCred Finance's Profit Rises 18% In FY25 As Commission Income Jumps Four Times

Diversified lending firm InCred Financial Services Ltd.'s profit rose 18% to Rs 372 crore for the fiscal 2025, as fees and commission income jumped four times to Rs 137 crore.

The KKR-backed company's loan book, which includes consumer loans, education loans, and loans to small and medium enterprises, grew 37% year-on-year to Rs 12,384 crore as of March 2025.

InCred Financial, which claims to have a net worth of Rs 3,716 crore as of March-end, reported a gross NPA ratio of 1.94%, with net NPA ratio pegged at 0.73% for March-end.

The firm has also approved raising an undisclosed amount through non-convertible debentures, and another Rs 40 crore by way of a rights issue.

Bloomberg News had reported in April that InCred Financial was looking to raise around Rs 4,000 crore through an initial public offering, while seeking a valuation of at least Rs 15,000 crore.

InCred Financial is the lending business of the InCred Group, and was founded in 2016 by Bhupinder Singh. It offers personal loans, student loans and MSME loans. The company's marquee investors include KKR, ADIA, Elevar Equity and Manipal Group among others.