Newtap Finance (CRED-backed NBFC), FY26 Net Profit (₹2.4 Crore)

→ Co-Lending Capital Efficiency: Maintaining 81% of managed AUM off-balance sheet via bank co-lending partnerships enables rapid credit distribution without straining internal equity capital. → Underwriting Premium Credit Cohorts: Tapping CRED's high-credit-score subscriber base kept Gross Stage 3 NPAs low at 0.94%, preserving overall portfolio quality. → Monetizing Consumer Credit Products: Scaling embedded credit rails like CRED Cash, Flash, and Pay Later drove a 116% top-line revenue surge to ₹259 crore.

In digital consumer lending, carrying 100% of balance-sheet risk directly on the NBFC's own equity is capital-inefficient.

Leveraging an off-balance-sheet co-lending architecture allows fintech-backed NBFCs to generate high-margin fee income, maintain sub-1% NPA ratios, and deepen institutional bank partnerships.