Industry landscapes
The companies, capital and talent shaping financial services in Delhi. 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 ↗
A few useful ratios bring the size of this ecosystem into perspective.
99 of 1,013 tracked companies have open roles.
48 of 1,013 tracked companies have a recorded round.
Share of disclosed capital received by the three largest recorded recipients.
Midpoint of 124 rounds with a disclosed amount.
Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 73.7% of disclosed capital, while 95.3% 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 | $32.85M | 53 | 4 |
| 2017 | $516.19M | 40 | 8 |
| 2018 | $146.97M | 56 | 14 |
| 2019 | $392.22M | 44 | 11 |
| 2020 | $1.32B | 40 | 10 |
| 2021 | $305.27M | 39 | 8 |
| 2022 | $119.49M | 48 | 12 |
| 2023 | $730.47M | 40 | 9 |
| 2024 | $184.81M | 25 | 12 |
| 2025 | $1.16B | 9 | 3 |
Share of all disclosed company funding.
134 recorded rounds since 2016
Recorded participation in financial services company rounds since 2016.
Backed by V-Sciences Investments and Paragon Partners and others.
Backed by Warburg Pincus and Creation Investments and others.
Backed by Warburg Pincus and Creation Investments.
Backed by Gojo and Vivek Tiwari.
Backed by Nuveen and TIAA.
Backed by Creation Investments and GAWA Capital and others.
Backed by Gojo.
Backed by HDFC and Omidyar Network and others.
Backed by Maj Invest.
Backed by Gojo.
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 · 212 reporting entities from 308 eligible matches.
Sum of reporting-entity revenue; not Delhi market sales.
Combined result for the same cohort.
Combined net income ÷ combined revenue.
The middle covered reporting entity.
166 of 212 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 · 212 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 |
|---|---|---|---|---|---|
| PTC India Financial ↗L40105DL1999PLC099328 | ₹15,611.0 crore | ₹854.8 crore | +5.5% | — | ₹7,985.4 crore |
| Transcorp ↗L51909DL1994PLC235697 | ₹1,425.3 crore | ₹3.1 crore | +0.2% | — | ₹147.7 crore |
| Ram Fincorp ↗U74110DL1984PTC019355 | ₹527.7 crore | ₹54.4 crore | +10.3% | — | ₹397.0 crore |
| Grant Thornton Bharat ↗U74110DL2001PTC111284 | ₹331.1 crore | ₹41.7 crore | +12.6% | — | ₹200.1 crore |
| Sitara ↗U65923DL2011PLC222491 | ₹203.1 crore | ₹0.6 crore | +0.3% | — | ₹1,402.8 crore |
| Bajaj Capital ↗U67120DL1965PLC004338 | ₹121.6 crore | ₹-10.3 crore | -8.5% | — | ₹80.0 crore |
| Punjab & Sind Bank ↗U74999KA2017PTC107232 | ₹3.1 crore | ₹0.1 crore | +2.6% | — | ₹6.9 crore |
| The Institute of Chartered Accountants of India ↗U80301DL2018NPL329932 | ₹2.3 crore | ₹1.2 crore | +53.8% | — | ₹13.2 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 Delhi companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.
7 of the 1,013 companies on this page carry a measured traffic record (0.7%); these are the largest of those, by monthly visits. The median among them is 379,035 visits.
| Company | Monthly visits | Authority | Mobile |
|---|---|---|---|
| Ram Fincorpramfincorp.com | 2,660,684 | 41 | 97.4% |
| Central Board of Excise & Customscbic.gov.in | 563,509 | 48 | 64.8% |
| Financial Servicesfinancialservices.gov.in | 470,298 | 43 | 87.7% |
| PNB Housing Financepnbhousing.com | 379,035 | 48 | 76.1% |
| PNB Globalpnbcard.in | 186,414 | 47 | 89.7% |
| My Mudramymudra.com | 89,202 | 38 | 82% |
| Transcorptranscorpint.com | 87,768 | 34 | 98% |
Visits and authority are third-party web estimates, not company-reported figures.
112 of these companies (11.1%) publish at least one Android app — 176 apps in all, carrying 144.4M installs between them.
| App | Installs | Rating | Store category |
|---|---|---|---|
| IPPB Mobile BankingIndia Post Payments Bank | 102.2M | 3.5 | Finance |
| Niva Bupa HealthNiva Bupa | 13.5M | 4.6 | Health & Fitness |
| Hero FinCorp - Customer AppHero Fincorp | 8.2M | 3.6 | Finance |
| BHIM PNBPunjab National Bank | 2.7M | 3.3 | Finance |
| IPPB MerchantIndia Post Payments Bank | 2.3M | — | Finance |
| Hero Digital Lending & UPI AppHero Fincorp | 2.2M | — | Finance |
| Religare Dynami: Stocks, IPOsReligare Online | 1.9M | 4.4 | Finance |
| PNB Digital RupeePunjab National Bank | 1.7M | — | Finance |
| PNB CREDIT CARD (Genie)PNB Global | 1.5M | 3.3 | Finance |
| FundsMama - Instant Loan AppFundsMama | 1.3M | — | 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 |
|---|---|---|---|---|
| Banks | 14 | 111.3M | IPPB Mobile Banking 102.2M | |
| Insurance Carriers | 7 | 14.1M | Niva Bupa Health 13.5M | |
| Consumer And Sme Loans | 32 | 13.8M | Hero FinCorp - Customer App 8.2M | |
| Services For Investment Industry | 20 | 2.4M | Religare Dynami: Stocks, IPOs 1.9M | |
| Investment Tech | 8 | 2.1M | Religare Digipay–AEPS,DMT,MATM 106.3K | |
| Service Providers To Banks | 7 | 1.2M | Instant Mudra : Personal Loan 1.2M | |
| Finance & Accounting Services | 13 | 739.9K | ICAI 705.4K | |
| Government Entities | 8 | 736.5K | ICAI Observer 15K |
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. 96 of 176 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.
18 companies hiring · $4.93B disclosed funding
Explore in RadarCommon revenue models; a company can use more than one.
Recorded corporate activity linked to companies in this landscape.
Grant Thornton’s private equity-backed US arm plans to acquire the firm’s Australian affiliate in a bid to extend the network’s increasingly global reach.
Tata Mutual Fund acquired a stake worth around ₹37.37 crore in Mufin Green Finance
Avenir Investment RSC Ltd, along with IHC Capital Holding LLC acting as a person acting in concert, to acquire up to 34,17,54,286 equity shares of the company.
With a face value of Rs 10,000 for each debenture, the total amount issued is substantial.
Based on prevailing prices in the grey market, the IPO could potentially raise about Rs 23,000 crore.
The boards of Power Finance Corporation and REC Limited have approved in principle the merger of the two entities, retaining the combined entity's status as a government company.
On February 24, the government proposed to sell over 26.13 crore shares or a 2 per cent stake in IRFC at a floor price of Rs 104 per share, along with a green shoe option of an equal number in the two-day OFS.
GDI completed the acquisition of a 100% equity stake in Transcorp for an agreed purchase price of SAR230 million ($61.2 million), said Sisco Holding in its bourse filing.
State-owned Punjab National Bank (PNB) on Tuesday reported a 14.4 per cent year-on-year rise in net profit to ₹5,225 crore for the three months ended March 2026, driven by higher interest income.
In February, Dynacons had secured a ₹108.88 crore contract from Punjab & Sind Bank for implementing and managing an on-premises private cloud infrastructure over five years.
Top 10 categories among 1,313 recorded events in the 24-month window.
18 companies with recorded IPO activity
IPO · NSE, BSE18 reports
IPO · NSE1 reports
OFS · NSE7 reports
IPO1 reports
OFS · NSE3 reports
IPO activity · NSE1 reports
IPO · BSE Limited, National Stock Exchange of India Limited63 reports
IPO2 reports
86 tracked people moves
Appointment Director (Finance)
Appointment US head of advisory
Promotion Recovery & Reorganisation Manager
Promotion Recovery & Reorganisation Senior
Appointment Senior Vice President and Head of Marketing
Resignation Previously Independent Director
Appointment Non-Executive Director
Appointment Merchant Banker
Products, platforms and features in the recorded window
CFO advisory service
Secured Lending
Digital Tool
25 recorded customer wins
Customer: government e-marketplaceFinance
Customer: Maharashtra State Power Generation CompanyPower
Customer: Haryana Power Generation CorporationPower
Customer: Khorlochhu Hydro Power LtdEnergy
Customer: Nagpur Metropolitan Region Development Authority (NMRDA)Infrastructure
Customer: Finance
67 recorded events
possible exit from Upper LayerReserve Bank of India
included in Upper LayerReserve Bank of India
included in Upper LayerReserve Bank of India
approvedshareholders
22 tracked suits
money laundering and bank fraud allegations under PMLARegulatory · Ongoing
disbursal of claim amounts for debt claims against Sterling Biotech LtdCivil · Ongoing
Reported company results in the recorded window.
Median across 364 reported growth observations; companies may contribute multiple periods.
Company-linked deal reports; status is preserved as recorded.
| Acquirer → target | Status | Date | Value / context |
|---|---|---|---|
| Grant Thornton Bharat→grant thornton australia | Announced | 2026-04-28 | Not stated in snapshot |
| PFC→Rural Electrification Corporation | Announced | 2026-04-07 | Not stated in snapshot |
| PFC→Rec Limited | Rumored | 2026-04-07 | Not stated in snapshot |
| Avenir Investment RSC Ltd→Sammaan Capital ↗ | Announced | 2026-04-03 | Not stated in snapshot |
| International Holding Company PJSC (IHC)→Sammaan Capital ↗ | Announced | 2026-04-01 | Not stated in snapshot |
| ihc→Sammaan Capital ↗ | Announced | 2026-03-31 | $1.0B |
A discussion or rumour is not a completed transaction. An unstated value is not zero.
605 postings in the preceding 12 months. The full 631-posting snapshot covers 70 employers.
0 tracked postings mention remote work.
431 postings specify a level.
Top skills across 631 tracked postings in the available jobs snapshot.
| Company | Employees |
|---|---|
| Punjab National Bank ↗ | 104,120 |
| Niva Bupa ↗ | 13,975 |
| Satyamicrocapital ↗ | 7,481 |
| Aviom ↗ | 6,343 |
| Fusion Microfinance ↗ | 5,001 |
| Hero Fincorp ↗ | 3,467 |
| National Housing Bank ↗ | 3,156 |
| Paisalo Digital ↗ | 2,305 |
470 founders and chief executives across 380 companies.
Ex-Nissan Motor, Volkswagen Financial Services, ICICI Bank, Bridgestone India. University of Calcutta BCom 1996
CEO Indiabulls Housing Finance. Goa Institute of Management MBA
Ex-Container Corporation of India, Railway Board Delhi, Indian Railways. Hindu College, University of Delhi BS 1990, MS 1992, IIT Dhanbad MBA 2013
Ex-Satin Creditcare Networks. University of Allahabad BS 1998
Ex-BSA Logistics.
Ex-CEO Apollo Munich Health Insurance, Deloitte, Arthur Andersen, Deutsche Bank. Indian Institute of Technology, Madras BTEch 1995…
Co-Founder & CEO Varthana · Ex- Invested Capital, Indian School Finance Company, Omidyar Network…
BimaPay, RupeeCircle, MD Mufin Finance, K R A.
Co-Founder-Livguard, Livpure · Ex-Luminous Power Technologies, Oak Power Systems, Siemens Energy & Automation
Ex-Co-Founder Buildzar.com, MobiKwik, 99acres, Xerox India. Ramjas College, Delhi University BA 1993, IPM India PGDBA 1995
Director - Nupurfinvest. St. John's College Agra Bachelor of Commerce 1989
WDRA, FICCI. FMS MBA
39 profiles with education records.
3 profiles with prior-work records.
Profiles cover recorded founders and leaders; contact details remain in Radar.
104,365 articles in the measured 12-month window.
Financial Services coverage tagged Delhi · articles per complete quarter
| Quarter | Articles |
|---|---|
| 2021Q2 | 22,263 |
| 2021Q3 | 15,959 |
| 2021Q4 | 15,493 |
| 2022Q1 | 17,949 |
| 2022Q2 | 22,140 |
| 2022Q3 | 23,297 |
| 2022Q4 | 22,372 |
| 2023Q1 | 29,213 |
| 2023Q2 | 24,671 |
| 2023Q3 | 23,705 |
| 2023Q4 | 21,621 |
| 2024Q1 | 21,319 |
| 2024Q2 | 23,021 |
| 2024Q3 | 22,805 |
| 2024Q4 | 25,278 |
| 2025Q1 | 30,510 |
| 2025Q2 | 22,494 |
| 2025Q3 | 27,271 |
| 2025Q4 | 25,859 |
| 2026Q1 | 25,585 |
Article volume measures coverage, not market sales.
2,361 recorded company events across 92 companies; percentages use that event total.
Financial Services coverage tagged Delhi · 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 Delhi. 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: 31 August 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 ↗