1. FY30 group revenue target of ₹1,000+ cr - Management targets consolidated revenue of ₹1,000+ cr by FY30, roughly 3x the FY26 run-rate, with an EBITDA margin of 10%+. This implies group EBITDA expanding roughly 5x from the ₹18 cr base, driven by a planned mix-shift toward higher-margin digital and lending income.
2. ZAP digital marketplace scale-up - The digital subsidiary ZAP targets revenue of ₹300 cr and EBITDA of ₹75 cr by FY30, a 7x and 13x jump respectively from FY26, with margins expanding from 14% to 25%. At a 25% margin, ZAP alone would contribute more EBITDA than the entire group generated in FY26, re-rating the consolidated earnings profile as it scales.
3. EQUALL NBFC lending ramp - The newly operationalised in-house NBFC, EQUALL, targets ₹2,500 cr of AUM by FY30, lending against a pre-screened base of five crore customers already in the funnel. With a gross yield of 24-26% and early 30/90 DPD signals around 1%, the book can deliver high-margin interest income on top of the existing fee-based aggregation revenue.
4. Agent marketplace compounding at 30%+ - The agent business contributed ₹273 cr in FY26 and has been growing at a 30% CAGR for the last six-plus years, supporting the company's ambition of reaching INR 1000-plus crore revenue by FY30. As the largest earnings stream, sustaining this growth rate alone adds over ₹400 cr of revenue, funding the digital and lending build-outs.
5. FY27 consolidated guidance - Management guides FY27 revenue of \~₹425 cr (35% growth) and EBITDA of ₹28-30 cr, with PAT of ₹18-20 cr. This implies EBITDA nearly doubling from the ₹18 cr FY26 base within one year, providing a near-term catalyst for earnings and cash-flow visibility.
6. Gold loan category expansion - Gold loans, launched six months back, disbursed over ₹500 cr in the first six months with zero incremental customer acquisition cost by remarketing to the existing personal loan funnel. With market share at only 0.1% and a target to reach 1%, the product adds a high-throughput, capital-light revenue stream that leverages the existing data lake.
7. ZAP Health embedded insurance - The health and wellness product collected ₹4 cr of premium in its first 12 months at zero incremental acquisition cost, with attachment rates exceeding 30% on test categories. This validates a cross-sell model that can lift revenue per customer without adding marketing spend, directly expanding digital margins.
8. Co-lending go-live unlocks EQUALL scale - The first co-lending partnership was due to go live in June 2026 after completed due diligence, with a second planned for August/September. Co-lending allows EQUALL to grow its loan book without consuming disproportionate equity capital, accelerating the path to the ₹2,500 cr AUM target.