Groww doubles down on wealth management, lending to diversify revenue base: CEO Lalit Keshre

Synopsis Groww is stepping up focus on wealth management and lending to reduce dependence on its core broking business, said cofounder and chief executive Lalit Keshre. Lending contributes 6% of revenues, around Rs 232 crore annually, he said. Stock and equity derivatives declined to 73%, indicating a gradual diversification of income streams. Listen to this article in summarized format Wealthtech startup Groww is stepping up its focus on wealth management and lending as it looks to reduce dependence on its core broking business, cofounder and chief executive Lalit Keshre said. “We get around 6% of our overall revenues from lending right now; roughly annually we are making around Rs 232 crore,” Keshre told ET. According to disclosures following its December-quarter results for FY26, the contribution of stock and equity derivatives to overall revenue declined to 73% from 81% in the September quarter, indicating a gradual diversification of income streams. The company is expanding both secured and unsecured lending, with strong growth in loans against mutual funds and securities. Groww received a non-banking financial company licence in 2022 for its subsidiary, Groww Creditserv Technology. In parallel, the firm is strengthening its wealth management play. It has launched ‘Prime’ for affluent customers and ‘W’ for high net-worth individuals. The immediate priority is to streamline onboarding and transaction journeys, including enabling seamless high-value payments, Keshre said. Also Read: Groww steps up wealth play via MF and portfolio management solutions The broader ambition is to make investing in portfolio management services and alternative investment funds as simple as buying mutual funds on the platform. Groww plans to onboard more relationship managers to serve rising demand from HNIs once the offering is fully rolled out. Through its acquisition of Fisdom, completed in October 2025, Groww entered the bank distribution business for mutual funds and now offers both regular and direct plans. On the infrastructure front, the company is pursuing strategic investments in the stock broking ecosystem while continuing to build consumer-facing products in-house. Keshre said Groww has invested $30 million in firms including DigiO and Metropolitan Stock Exchange. “We will be opportunistic when it comes to such investments. We have our corporate development team, but we are not aggressively looking. We invest when we see a good opportunity, and now we have the funds as well,” he said. For the December quarter, Groww reported operating revenue of Rs 1,216 crore and net profit of Rs 547 crore. As of December 2025, NSE data showed the platform had around 1.2 crore active investors. (Catch all the Technology News News, and Latest News Updates on The Economic Times.) ...more