Industry landscapes
The companies, capital and talent shaping financial services in Ahmedabad. Find the leaders. Understand the segments. See where the activity is.
An industry ecosystem,
measured in context.
24 featured companies from the funding, hiring, revenue and team-size leaderboards.
Locked revenue figures are available in Radar; the eight company financial previews stay the same throughout this page. A dash means the figure is outside these featured lists. Revenue years vary by company; the figures are not a like-for-like revenue comparison. Compare annual accounts ↗
No company example met every recorded classification, independence and public-profile gate in this snapshot. The live directory may have newer qualifying companies.
Explore classified startups in Radar ↗A few useful ratios bring the size of this ecosystem into perspective.
36 of 282 tracked companies have open roles.
13 of 282 tracked companies have a recorded round.
Share of disclosed capital received by the three largest recorded recipients.
Midpoint of 35 rounds with a disclosed amount.
Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 71.3% of disclosed capital, while 95.4% of tracked companies have no recorded funding round.
Explore the segments →Recorded company formation and disclosed funding across the complete annual series shown.
Sum of recorded funding rounds · USD
| Year | Funding (USD) | Founded | Raising |
|---|---|---|---|
| 2016 | $7.74M | 8 | 3 |
| 2017 | $2.99M | 12 | 3 |
| 2018 | $59.34M | 15 | 5 |
| 2019 | $24.52M | 15 | 3 |
| 2020 | $0 | 11 | 0 |
| 2021 | $31.6M | 18 | 4 |
| 2022 | $59.2M | 14 | 3 |
| 2023 | $14.43M | 17 | 1 |
| 2024 | $13M | 8 | 1 |
| 2025 | $31.1M | 2 | 3 |
Share of all disclosed company funding.
41 recorded rounds since 2016
Recorded participation in financial services company rounds since 2016.
Backed by HDFC Bank.
Backed by Gojo and C4D Partners.
Backed by British International Investment and Nordic Microfinance Initiative and others.
Backed by British International Investment and Nordic Microfinance Initiative and others.
Backed by Green Climate Fund and The Huruma Fund.
Backed by NABARD and HSBC and others.
Backed by Gojo.
Backed by India Foundation.
Backed by Incofin Investment Management and Triple Jump and others.
Backed by The Huruma Fund.
Backed by Incofin Investment Management and Nordic Microfinance Initiative and others.
Annual accounts for reporting companies linked to this landscape, on like-for-like currency and reporting bases.
Display conversions use the dated reference rates above. Where a verified rate is unavailable, figures retain their source currency. Each reporting cohort keeps its currency and accounting basis separate.
FY2025 · annual statements grouped by reported fiscal year; exact entity periods remain on preview rows · 63 reporting entities from 84 eligible matches.
Sum of reporting-entity revenue; not Ahmedabad market sales.
Combined result for the same cohort.
Combined net income ÷ combined revenue.
The middle covered reporting entity.
50 of 63 covered entities.
Share of covered revenue from the five largest entities.
Reported cohort totals by year; coverage is stated for every period.
Bar height shows revenue. Changes in coverage can affect totals.
FY2025 · 63 reporting entities
Up to eight fixed company previews show financial amounts. Search and sort the wider company list, then continue in Radar.
| Company / reporting entity | Revenue | Net profit / loss | Net margin | Revenue growth | Total assets |
|---|---|---|---|---|---|
| AuSom Enterprise ↗L67190GJ1984PLC006746 | ₹2,392.5 crore | ₹19.6 crore | +0.8% | — | ₹185.7 crore |
| Prudent ↗L91120GJ2003PLC042458 | ₹973.9 crore | ₹156.6 crore | +16.1% | — | ₹772.4 crore |
| Health India TPA Services ↗U67200MH1997PTC105960 | ₹177.8 crore | ₹1.8 crore | +1.0% | — | ₹119.4 crore |
| Paperchase Accountancy ↗U74120GJ2005PTC046030 | ₹108.5 crore | ₹3.4 crore | +3.1% | — | ₹43.6 crore |
| Knowcraft ↗U74900GJ2012PTC069879 | ₹68.4 crore | ₹10.0 crore | +14.6% | — | ₹33.2 crore |
| Online PSB Loans ↗U74140GJ2015PLC082744 | ₹67.1 crore | ₹7.6 crore | +11.3% | — | ₹152.6 crore |
| Chartered Capital And Investment ↗L45201GJ1986PLC008577 | ₹9.4 crore | ₹5.4 crore | +57.6% | — | ₹174.1 crore |
| Gujarat Lease Financing ↗L65990GJ1983PLC006345 | ₹0.0 crore | ₹0.1 crore | — | — | ₹6.4 crore |
Explore full company accounts and filings.
Choose “View accounts” to inspect an available company preview.
Each pair uses the same year, currency and reporting basis. Cohort overlap is disclosed.
| Industry | Covered / eligible | Revenue total | Median revenue | Net profit / loss | Aggregate margin | Profitable share | Overlap |
|---|
Available-account cohorts are not estimates of whole industries. Overlapping entities can occur in more than one cohort; do not add cohort totals.
Filed annual accounts for exact designated national identifiers. Every aggregate and peer pair uses one fiscal year, source currency and reporting basis; periods, coverage and overlap are explicit; 2026 partials are excluded.
The same up to eight reporting entities remain open across years, filters and sorts. Other company figures are available in Radar.
Source currencies and accounting bases stay separate. Missing accounts are excluded rather than treated as zero. Exact reporting periods appear on company previews. Annual totals can change with coverage and do not measure growth of a fixed company cohort.
How the Ahmedabad companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.
30 of these companies (10.6%) publish at least one Android app — 52 apps in all, carrying 1.4M installs between them.
| App | Installs | Rating | Store category |
|---|---|---|---|
| Prudent Client DeskPrudent | 359.4K | 4.8 | Business |
| THE KALUPUR COMM. CO-OP. BANK Kalupur Bank | 298.4K | — | Finance |
| Pahal SanginiPahal Financial Services | 188.8K | — | Finance |
| HEALTHINDIA HR BROKERHealth India TPA Services | 185.6K | — | Business |
| Prudent Partner DeskPrudent | 98.4K | 5 | Business |
| Karnavati BankKarnavati Co-op Bank | 27.2K | — | Finance |
| Veritas Mutual FundVeritasins | 22K | — | Finance |
| VeritasVeritasins | 21.7K | — | Business |
| Goldmine BullionGoldmine Stocks | 20.8K | — | Business |
| ACML PROAcml | 18.9K | — | Finance |
Installs are lifetime totals to date at the June 2026 store reading — a measure of reach, not of people using an app today.
The busiest app inside each of this page’s own segments, with the quarterly release trend behind it (2023Q1–2026Q2).
| Segment | Apps | Installs | Leading app | Release trend |
|---|---|---|---|---|
| Asset Management | 18 | 494.1K | Prudent Client Desk 359.4K | |
| Banks | 6 | 329.4K | THE KALUPUR COMM. CO-OP. BANK 298.4K | |
| Services For Health Insurers | 6 | 229K | HEALTHINDIA HR BROKER 185.6K | |
| Microfinance | 4 | 207.2K | Pahal Sangini 188.8K | |
| Consumer And Sme Loans | 9 | 50.3K | MAScot Connect 17.4K | |
| Insurance Distribution | 5 | 44K | Veritas Mutual Fund 22K | |
| Brokers And Dealers | 4 | 39.9K | Goldmine Bullion 20.8K |
A company can carry several segment tags, so these rows overlap and should not be added together. Trend lines are zero-based and share one quarter grid, so a flat line is a quiet segment, not a missing one.
New apps published, beside apps whose most recent update landed in that quarter — the second bar is how much of the shelf is still being maintained.
Darker bars are new releases, lighter bars apps updated. 28 of 52 apps carry a release date. The series ends at 2026Q1, the last quarter that closed before the June 2026 reading.
Explore the segments behind the headline numbers.
Rank segments by scale, hiring or disclosed funding.
Companies can sit in several segments. Counts and funding overlap.
The largest measured segment in this report snapshot.
6 companies hiring · $239.82M disclosed funding
Explore in RadarCommon revenue models; a company can use more than one.
Recorded corporate activity linked to companies in this landscape.
The IPO of Shah Investor's Home comprises a fresh issue of up to 54 lakh equity shares, with proceeds earmarked for working capital requirements.
In Denmark, Light secured €25 million to scale its AI-native finance system that replaces legacy enterprise software.
MAS Financial Services Limited has acquired 3,33,333 equity shares of its subsidiary, MAS Rural Housing and Mortgage Finance Limited (MRHMFL), representing 33.33% of the Optionally Convertible Preference Shares (OCPS) Series I.
Prudent Corporate Advisory Services Limited (Prudent) announced the acquisition of Mutual Fund Distributor Indus Capital.
Crisi[l], the provider of ratings, data, research, analytics and solutions, has invested ₹33.25 crore to acquire a minority stake in Online PSB Loans Ltd (OPL).
Public issue of 35,40,000 equity shares of face value Rs. 10/- each of Amrapali Fincap Limited (AFL or the company or the issuer) for cash at a price of Rs. 120/- per share (The issue price), including a share premium of Rs. 110 per equity share aggregating to Rs. 42.48 crores (The issue).
The BDO affiliate needs to “strengthen network-wide controls over the provision of non-audit services and ensure mandatory re-sign-off by the engagement partner” for any modifications after the issuance of the audit report, NFRA said.
Sales rise 26.24% to Rs 5.34 crore Net profit of ISL Consulting reported to Rs 0.18 crore in the quarter ended December 2025 as against net loss of Rs 1.77 crore during the previous quarter ended December 2024.
Microfinance-focused Pahal Financial Services, which is backed by a clutch of impact investors like GAWA Capital and Proparco, witnessed a sharp fall in its net profit for the financial year ended March 2025, primarily due to a rise in credit costs. The Ahmedabad-based non-bank lender’s net profit plunged to Rs 6 ....
Top 9 categories among 75 recorded events in the 24-month window.
4 companies with recorded IPO activity
IPO · BSE, NSE3 reports
IPO2 reports
IPO1 reports
IPO1 reports
1 recorded customer wins
Customer: Gujarat Urja Vikas NigamSolar
6 recorded events
regulatory feedback providedNational Financial Reporting Authority (NFRA)
required to strengthen network-wide controls over provision of non-audit servicesNational Financial Reporting Authority (NFRA)
approved for share transferSecurities and Exchange Board of India (SEBI)
approval received for share transferSEBI
Reported company results in the recorded window.
Median across 29 reported growth observations; companies may contribute multiple periods.
Company-linked deal reports; status is preserved as recorded.
| Acquirer → target | Status | Date | Value / context |
|---|---|---|---|
| Mas Financial Services→MAS Rural Housing & Mortgage Finance Limited | Completed | 2025-09-12 | Not stated in snapshot |
| Prudent→indus capital | Announced | 2025-09-12 | Not stated in snapshot |
| Crisi[l]→Online PSB Loans ↗ | Announced | 2025-06-20 | Not stated in snapshot |
| btg pactual→Light ↗ | Pending | 2025-06-05 | Not stated in snapshot |
| john deere→Light ↗ | 2025-05-26 | Not stated in snapshot | |
| Deere & Company→Light ↗ | Completed | 2025-05-24 | Not stated in snapshot |
A discussion or rumour is not a completed transaction. An unstated value is not zero.
137 postings in the preceding 12 months. The full 156-posting snapshot covers 121 employers.
2 tracked postings mention remote work.
84 postings specify a level.
Top skills across 156 tracked postings in the available jobs snapshot.
| Company | Employees |
|---|---|
| Light ↗ | 4,236 |
| Pahal Financial Services ↗ | 3,072 |
| Mas Financial Services ↗ | 1,590 |
| Arman Financial Services ↗ | 1,079 |
| Paperchase Accountancy ↗ | 863 |
| Pacific Global Solutions ↗ | 466 |
| Integrity Ks ↗ | 350 |
| Knowcraft ↗ | 325 |
112 founders and chief executives across 104 companies.
Suyas Advisory, ex-KIFS Housing Finance. H.L.College of Commerce BCom 1993
Ex-IBM, Samhita Social Ventures, Sapient. Indian Institute of Technology, Bombay BTech 2004, Schulich School of Business - York University MBA 2008
Ex-DDB Mudra Group. Bharati Vidyapeeth's College of Engineering Pune University BE 1997, Symbiosis Institute of Business Management MBA 1999
Ardeko · ex-Equirus Securities, ex-L And T Infrastructure Finance · Indian Institute of Management, Indore 2007
Autolite (India), ex-SREI Equipment Finance, CEO Alchemist Asset Reconstruction Company, Electronica Finance…
Prudent Corporate Advisory Services, ex-Jindal World Wide, The Institute of Chartered Accountants of India, 1992
Ex-Founder Woodstock Ambience, Capita, Firstsource, Mphasis, IBM, Wipro, Samtel Color. IIT Kanpur BTech 1986, St. Xavier's College, IMT Ghaziabad
The Chopras, Ex-Karvy Private Wealth, Aditya Birla Group, Kotak Mahindra Bank. North Maharashtra University, Singapore Polytechnic BE 2004…
Clarion Insurance Broking Services, ex-Hdfc Ergo General Insurance, ex-Tata Aig General Insurance, FII, Insurance Institute of India, 2011
Ex-Mukesh M. Shah & Co . H. L. College of Commerce BCom 2006, Gujarat University 2008, The Institute of Company Secretaries of India 2011
Ex-Motilal Oswal Financial Services, HSBC, Reliance Capital · Reliance Group, IL&FS AMC TRUSTEE. Sardar Patel University BSc 1999
Co-Founder & CEO Kalpfin, ex-Finarchitect, Axis Bank, HDFC Standard Life Insurance. H.L Institute of Commerce BCom 2011…
8 profiles with education records.
1 profiles with prior-work records.
Profiles cover recorded founders and leaders; contact details remain in Radar.
25,466 articles in the measured 12-month window.
Financial Services coverage tagged Ahmedabad · articles per complete quarter
| Quarter | Articles |
|---|---|
| 2021Q2 | 2,557 |
| 2021Q3 | 1,877 |
| 2021Q4 | 1,836 |
| 2022Q1 | 3,180 |
| 2022Q2 | 3,077 |
| 2022Q3 | 3,352 |
| 2022Q4 | 3,609 |
| 2023Q1 | 6,061 |
| 2023Q2 | 5,007 |
| 2023Q3 | 4,203 |
| 2023Q4 | 8,523 |
| 2024Q1 | 3,912 |
| 2024Q2 | 4,665 |
| 2024Q3 | 3,302 |
| 2024Q4 | 3,736 |
| 2025Q1 | 5,902 |
| 2025Q2 | 7,880 |
| 2025Q3 | 5,622 |
| 2025Q4 | 4,675 |
| 2026Q1 | 6,802 |
Article volume measures coverage, not market sales.
122 recorded company events across 22 companies; percentages use that event total.
Financial Services coverage tagged Ahmedabad · ranked by full-period article count.
Recent and prior counts use the source comparison windows.
India comparison coverage
| Keyword | Recent | Prior | Change |
|---|---|---|---|
| tariff negotiations | 11,654 | 5,735 | 103% |
| bilateral trade | 4,614 | 2,445 | 89% |
| trade dispute mechanisms | 4,525 | 2,213 | 104% |
| trade barrier reduction | 4,505 | 2,457 | 83% |
| trade facilitation commitments | 4,333 | 2,208 | 96% |
| countries | 4,193 | 1,860 | 125% |
| free trade deals | 4,085 | 2,445 | 67% |
| multilateral diplomacy | 3,932 | 2,727 | 44% |
| diplomatic strategies | 3,838 | 2,360 | 63% |
| bilateral trade imbalance | 3,287 | 2,063 | 59% |
| odi cricket | 6,058 | 9,722 | -38% |
| limited overs cricket | 5,796 | 9,377 | -38% |
| odi tactics | 5,652 | 8,814 | -36% |
| odi series | 5,276 | 8,381 | -37% |
| odi rankings | 5,025 | 8,115 | -38% |
India comparison coverage
territories, disputed islands, test cricket
43.8% critical · 27.4% positivepre-ipo valuation, ipo prospectus, ipo pricing
49.0% critical · 45.9% positivegdp growth rate, economic output growth, economic growth statistics
47.3% critical · 49.9% positiveFinancial Services coverage tagged Ahmedabad. Topic labels describe recorded classifications and can include broad context.
Clear definitions for making better comparisons.
It measures the tracked company ecosystem, recorded funding, hiring and other available evidence. It is not a market-size estimate.
No. A company can belong to several segments, so segment counts and funding can overlap.
A dash or unavailable panel means the current reviewed source snapshot does not support that figure.
Company ecosystem snapshot: 4 September 2026. Funding is recorded in USD; filed accounts retain their stated currency and reporting basis. Each section identifies its own coverage. The news and research behind these sections is explorable in Prism.
Canonical landscape ↗