Industry landscapes
The companies, capital and talent shaping investment industry in Mumbai. 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.
59 of 1,102 tracked companies have open roles.
23 of 1,102 tracked companies have a recorded round.
Share of disclosed capital received by the three largest recorded recipients.
Midpoint of 32 rounds with a disclosed amount.
Scale is concentrated. Opportunity is broader. The three largest funding recipients hold 64.7% of disclosed capital, while 97.9% 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 | $22.05M | 41 | 4 |
| 2017 | $3.38M | 42 | 1 |
| 2018 | $0 | 51 | 0 |
| 2019 | $8.19M | 46 | 3 |
| 2020 | $13.37M | 44 | 1 |
| 2021 | $9.33M | 60 | 2 |
| 2022 | $18.69M | 51 | 4 |
| 2023 | $43.03M | 45 | 6 |
| 2024 | $112.65M | 36 | 4 |
| 2025 | $47.82M | 20 | 4 |
Share of all disclosed company funding.
38 recorded rounds since 2016
Recorded participation in investment industry company rounds since 2016.
Backed by Daiwa Securities Group.
Backed by Nithin Kamath and Nikhil Kamath.
Backed by HWIC Asia Fund.
Participating investors were not recorded in this snapshot.
Backed by Rajiv Kuchhal and Sanjeev Joshi and others.
Backed by Naresh Kothari and Mudit Singhania and others.
Backed by Surplus Finvest and Pankaj Jaju and others.
Backed by Bain Capital and 360 One.
Backed by Bay Capital and Hansa Kapadia and others.
Backed by Bay Capital and Antique Limited 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 · 135 reporting entities from 178 eligible matches.
Sum of reporting-entity revenue; not Mumbai market sales.
Combined result for the same cohort.
Combined net income ÷ combined revenue.
The middle covered reporting entity.
92 of 135 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 · 135 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 |
|---|---|---|---|---|---|
| Ajmera Realty & Infra India ↗L27104MH1985PLC035659 | ₹532.7 crore | ₹111.6 crore | +21.0% | — | ₹1,726.9 crore |
| PhillipCapital ↗U92403MH1999PTC123359 | ₹391.9 crore | ₹69.5 crore | +17.7% | — | ₹1,589.7 crore |
| Aranca ↗U74130MH2004PTC145476 | ₹113.0 crore | ₹11.5 crore | +10.2% | — | ₹121.4 crore |
| First Meridian ↗U74999MH2018PLC371978 | ₹70.5 crore | ₹1.1 crore | +1.6% | — | ₹463.9 crore |
| Singhi Advisors ↗U74210MH2002PTC136510 | ₹46.2 crore | ₹21.5 crore | +46.6% | — | ₹68.2 crore |
| Quantum Advisors ↗U65990MH1990PTC055279 | ₹39.1 crore | ₹-3.8 crore | -9.8% | — | ₹303.0 crore |
| Alpha Alternatives ↗U65990MH2013PTC250886 | ₹29.5 crore | ₹3.4 crore | +11.6% | — | ₹633.6 crore |
| Teji Mandi ↗U65990MH2020PTC342552 | ₹23.3 crore | ₹7.9 crore | +34.1% | — | ₹29.5 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 Mumbai companies on this page show up online: the sites people visit, the apps they install, and how often those apps ship.
20 of these companies (1.8%) publish at least one Android app — 31 apps in all, carrying 6.9M installs between them.
| App | Installs | Rating | Store category |
|---|---|---|---|
| Teji Mandi:Investing & TradingTeji Mandi | 3.4M | 3.9 | Finance |
| Tata AIA Life InsuranceTata AIA Life Insurance | 1.5M | 4.5 | Finance |
| Tata AIA Life Secure LifeTata AIA Life Insurance | 1.1M | — | Finance |
| Companies Act 2013MMJC Advisory | 281.8K | — | Books & Reference |
| Tata AIA VitalityTata AIA Life Insurance | 259.7K | 3.4 | Health & Fitness |
| Equentis - Research & RankingEquentis Wealth Advisory Services Pvt Ltd | 96.6K | — | Finance |
| Invesco PartnerInvesco Mutual Fund | 44.2K | — | Finance |
| Tata AIA VTUBETata AIA Life Insurance | 38.5K | — | Business |
| JeevantikaJeevantika | 36.1K | — | Business |
| Phillip Pro TraderPhillipCapital | 18.1K | — | 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 (2023Q1–2026Q1).
| Segment | Apps | Installs | Leading app | Release trend |
|---|---|---|---|---|
| Investment Research Services | 3 | 3.4M | Teji Mandi:Investing & Trading 3.4M | |
| Investment Tech | 2 | 3.4M | AJCON GLOBAL 7.8K | |
| Limited Partners | 8 | 3M | Tata AIA Life Insurance 1.5M | |
| Insurance Carriers | 5 | 2.9M | Tata AIA Life Secure Life 1.1M | |
| Investment Banks | 6 | 291.5K | Companies Act 2013 281.8K | |
| Investment Consultants | 12 | 172.8K | Equentis - Research & Ranking 96.6K | |
| Asset Management | 8 | 86.5K | Invesco Partner 44.2K | |
| Brokers And Dealers | 7 | 39.7K | Phillip Pro Trader 18.1K |
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.
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.
1 companies hiring · $0 disclosed funding
Explore in RadarCommon revenue models; a company can use more than one.
Recorded corporate activity linked to companies in this landscape.
NDR InvIT announced raising Rs 410 crore through the issuance of bonds primarily for the acquisition of logistics and warehousing portfolio across key markets in the country.
has acquired Whoppl, one of India’s fastest-growing creator and digital-first marketing companies.
Clover Media has acquired 3.54 lakh shares (equivalent to 0.5 percent of paid‑up equity) at Rs 164.95 per share, valued at Rs 5.83 crore.
Go Raw sold to USK Capital 01.19.2026 By Brooke Just
LKP Finance Ltd., a listed financial services company, is reshaping its identity and business model as it acquires a strategic stake in digital gifting and rewards platform Gyftr (Vouchagram Private Limited)
Singapore $65 Billion Financial Services Group PhillipCapital to Buy London-Listed Financial Services Company Walker Crips for $7.8 Million (£5.96 Million) Representing +86.6% Premium to Closing Price (21/11/25), Phillip Brokerage is Current Shareholder of Walker Crips
Neoliv is currently raising ₹1,000 crore via its maiden fund - Inliv Real Estate Fund, from family offices and ultra high net worth individuals. So far, it has raised around ₹750 crore.
Entrackr exclusively reported about the company’s Seed funding in June this year.
Merchant bankers further indicated that this will be followed by offerings from Anantam Highway InvIT (Alpha Alternatives), Epack Prefab Technologies, Pranav Construction, and TruAlt Bioenergy. These firms are likely to announce their price bands during September 22-30, with launches slated for the end of September or early October.
India's Sustainable Energy Infra Trust plans to raise ₹750 crore ($86.84 million), through the sale of bonds maturing in five years and seven years, three bankers said on Wednesday.
Top 10 categories among 293 recorded events in the 24-month window.
5 companies with recorded IPO activity
IPO · National Stock Exchange (NSE), Bombay Stock Exchange (BSE)52 reports
IPO1 reports
IPO activity1 reports
IPO1 reports
IPO1 reports
11 tracked people moves
Appointment Chief Marketing Officer
Promotion Executive Director (National P&L Head)
Appointment Vice President – New Initiatives & Growth
Appointment Chief Financial Officer
Departure Previously Director of the Office of the Advocate for Small Business Capital Formation
Retirement Previously Chief Operating Officer
Appointment Deputy Director of the Agency’s Division of Trading and Markets
Appointment Head of Human Resources
Products, platforms and features in the recorded window
Fund
Fund
4 recorded customer wins
Customer: Indev InfraLogistics/warehousing
Customer:
Customer: swelect energy systems
Customer: SWELECT GroupFinance
1 companies with reported reductions
15.0% rolesgovernment downsizing
16 recorded events
approved for issuance via postal ballot
approved in-principle for issue and allotment of bonus equity sharesBSE Limited
set record date March 06 2026 and deemed allotment date March 09 2026SEBI Circular
approved for establishmentSecurities and Exchange Board of India (SEBI)
43 tracked suits
Shareholder proposal regulationRegulatory ·
shareholder rights and corporate accountabilityRegulatory · Filed
Reported company results in the recorded window.
Median across 55 reported growth observations; companies may contribute multiple periods.
Company-linked deal reports; status is preserved as recorded.
| Acquirer → target | Status | Date | Value / context |
|---|---|---|---|
| Think9→Whoppl | Announced | 2026-03-19 | Not stated in snapshot |
| Clover Media→DAM Capital ↗ | Completed | 2026-02-12 | Not stated in snapshot |
| Niraant Aviation→go raw | Completed | 2026-02-06 | Not stated in snapshot |
| 360 one→Mumbai Angels ↗ | Completed | 2026-01-18 | Not stated in snapshot |
| Niraant Aviation→freeland | Completed | 2026-01-14 | Not stated in snapshot |
| LKP Finance→Gyftr (Vouchagram Private) | Completed | 2026-01-07 | Not stated in snapshot |
A discussion or rumour is not a completed transaction. An unstated value is not zero.
203 postings in the preceding 12 months. The full 232-posting snapshot covers 45 employers.
0 tracked postings mention remote work.
129 postings specify a level.
Top skills across 232 tracked postings in the available jobs snapshot.
| Company | Employees |
|---|---|
| Tata AIA Life Insurance ↗ | 14,528 |
| Mahansaria Group ↗ | 472 |
| PhillipCapital ↗ | 422 |
| Aranca ↗ | 345 |
| Yogesh Agencies & Investment ↗ | 223 |
| First Meridian ↗ | 204 |
| BridgeLabz Solutions ↗ | 203 |
| Axience ↗ | 163 |
636 founders and chief executives across 626 companies.
Ex-Co-Founder Saddle Point Solutions, Tarkena Consultants, Aurion Aviation Advisors, Bahrain Saudi Bank.
Managing Director & Group Head - Strategy, Transformation & Talent - Ambit Private Limited
Ex-Dymon Asia Capital, Ashiana Capital, Geosphere Capital Advisors · Shri Ram College of Commerce (SRCC) BCom 1990, MCom 1992
Founder-InCred · Ex-Deutsche Bank · Bhopal University BE 1996, IIMAhmedabad MBA 1999
Ex-Sesa Seat. Narsee Monjee College of Commerce and Economics 1995
Ex-Marsh, ICICI Venture, Reliance Infocomm, Nitin Shingala & Co. Pandit Ravishankar Shukla University B.Com 1996, ICAI CA 1998
CEO Futurebrands India, ex-McCann Erickson Worldwide, Mudra Communications, FCB Ulka. M S University BA 1983, IIM Ahmedabad PGDM 1985
Ex-Godrej Properties, Redevco, Unitech, Unilever India. Thapar Institute of Engineering & Technology BE 1999, IIM Calcutta MBA 2003
Ekkum Advisors, ex-Inga Capital Private, Triumph Internatioanl Finance India · South Indian Welfare Society, Wadala BCom 1991
Ex-KKR, Kotak Realty Fund. Anna University Chennai BTech 2006, IIM bangalore MBA 2008
Ex- CreditVidya, Capillary Technologies, Intel Corporation, Google. Indian Institute of Technology, Kharagpur PhD 2014
Ex-Sparkidea Interactive Softwares, Zingura, Picnframes Technologies · Punjab Technical University BTech 2010
84 profiles with education records.
17 profiles with prior-work records.
Profiles cover recorded founders and leaders; contact details remain in Radar.
147,668 articles in the measured 12-month window.
Investment Industry coverage tagged Mumbai · articles per complete quarter
| Quarter | Articles |
|---|---|
| 2021Q2 | 21,096 |
| 2021Q3 | 20,958 |
| 2021Q4 | 18,708 |
| 2022Q1 | 23,065 |
| 2022Q2 | 26,845 |
| 2022Q3 | 29,264 |
| 2022Q4 | 30,564 |
| 2023Q1 | 34,347 |
| 2023Q2 | 31,975 |
| 2023Q3 | 29,162 |
| 2023Q4 | 33,071 |
| 2024Q1 | 29,621 |
| 2024Q2 | 31,155 |
| 2024Q3 | 33,515 |
| 2024Q4 | 37,894 |
| 2025Q1 | 43,781 |
| 2025Q2 | 35,946 |
| 2025Q3 | 37,918 |
| 2025Q4 | 34,120 |
| 2026Q1 | 40,303 |
Article volume measures coverage, not market sales.
438 recorded company events across 41 companies; percentages use that event total.
Investment Industry coverage tagged Mumbai · ranked by full-period article count.
Recent and prior counts use the source comparison windows.
India comparison coverage
| Keyword | Recent | Prior | Change |
|---|---|---|---|
| tariff negotiations | 11,635 | 5,706 | 104% |
| bilateral trade | 4,612 | 2,444 | 89% |
| trade dispute mechanisms | 4,517 | 2,207 | 105% |
| trade barrier reduction | 4,501 | 2,451 | 84% |
| trade facilitation commitments | 4,331 | 2,205 | 96% |
| countries | 4,193 | 1,860 | 125% |
| free trade deals | 4,080 | 2,436 | 67% |
| multilateral diplomacy | 3,918 | 2,727 | 44% |
| diplomatic strategies | 3,818 | 2,356 | 62% |
| bilateral trade imbalance | 3,284 | 2,056 | 60% |
| odi cricket | 6,036 | 9,659 | -38% |
| limited overs cricket | 5,775 | 9,307 | -38% |
| odi tactics | 5,628 | 8,746 | -36% |
| odi series | 5,255 | 8,324 | -37% |
| odi rankings | 5,007 | 8,068 | -38% |
India comparison coverage
territories, disputed islands, test cricket
43.7% critical · 27.7% positivepre-ipo valuation, ipo prospectus, ipo pricing
48.9% critical · 47.2% positivegdp growth rate, economic output growth, economic growth statistics
46.9% critical · 50.6% positiveInvestment Industry coverage tagged Mumbai. Topic labels describe recorded classifications and can include broad context.
Compare demand signals in Mumbai’s newsflow with the investment industry categories mapped to each signal.
Signal percentile − supply percentile = gap in percentile points. Positive gaps highlight questions to investigate. A high signal can reflect spending pressure or access friction, as well as potential demand.
The comparison is relative to the signal families on this page. A supply percentile of zero means the lowest relative reading, not zero companies. It is a prioritisation clue, not measured market size or unmet demand.
Signal and mapped-supply percentiles, their gap, and change in the signal’s article share.
Swipe horizontally to compare all columns →
| Signal family | Signal percentile | Supply percentile | Relative gap | Gap (points) | Signal share vs prior year |
|---|---|---|---|---|---|
| Market volatility ↗Macro Pressure | 91.7 | 0.0 | +91.7 | +92.8% | |
| Interest rates & policy ↗Macro Pressure | 75.0 | 66.7 | +8.3 | +68.4% | |
| Layoffs & income shocks ↗Spending Pressure | 62.5 | 66.7 | -4.2 | +81.8% | |
| Lending & credit access ↗Demand Driver | 33.3 | 66.7 | -33.4 | -4.0% | |
| Crypto & digital assets ↗Adoption Shift | 25.0 | — | No matching category | — | — |
| Financial inclusion ↗Demand Driver | 29.2 | — | No matching category | — | +39.7% |
| Fraud, scams & consumer trust ↗Trust Friction | 33.3 | — | No matching category | — | — |
Showing all 7 signals. Select a family for its history and mapped categories.
All 12 city readings for these demand families in the comparison geography. Mumbai is highlighted.
Each city’s reading is a share of its own coverage. Rows cover all of India for this page's signal families; Mumbai is marked.
Interest rates & policy · Market volatility · Lending & credit access
Market volatility · Crypto & digital assets · Interest rates & policy
Layoffs & income shocks · Lending & credit access · Fraud, scams & consumer trust
Layoffs & income shocks · Lending & credit access · Financial inclusion
Layoffs & income shocks · Lending & credit access · Crypto & digital assets
Layoffs & income shocks · Fraud, scams & consumer trust · Interest rates & policy
Lending & credit access · Financial inclusion · Fraud, scams & consumer trust
Crypto & digital assets · Market volatility · Fraud, scams & consumer trust
Lending & credit access · Interest rates & policy · Financial inclusion
Fraud, scams & consumer trust · Lending & credit access · Financial inclusion
Fraud, scams & consumer trust · Lending & credit access · Financial inclusion
Layoffs & income shocks · Market volatility · Lending & credit access
Volatility can drive trading, hedging and advice-seeking in the same week it spikes.
Companies can appear in multiple categories; these counts are not a unique-company total.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 77 | 19.56 |
| 2024Q4 | 92 | 20.84 |
| 2025Q1 | 103 | 22.99 |
| 2025Q2 | 134 | 44.19 |
| 2025Q3 | 146 | 42.27 |
| 2025Q4 | 147 | 46.46 |
| 2026Q1 | 160 | 48.45 |
Rate moves can reprice every loan book — lending and deposit products feel it first.
Companies can appear in multiple categories; these counts are not a unique-company total.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 120 | 30.48 |
| 2024Q4 | 181 | 41.0 |
| 2025Q1 | 120 | 26.78 |
| 2025Q2 | 146 | 48.15 |
| 2025Q3 | 311 | 90.05 |
| 2025Q4 | 165 | 52.15 |
| 2026Q1 | 118 | 35.73 |
Layoff cycles can pull discretionary spend back toward value offerings.
Companies can appear in multiple categories; these counts are not a unique-company total.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 31 | 7.87 |
| 2024Q4 | 24 | 5.44 |
| 2025Q1 | 30 | 6.7 |
| 2025Q2 | 58 | 19.13 |
| 2025Q3 | 52 | 15.06 |
| 2025Q4 | 48 | 15.17 |
| 2026Q1 | 20 | 6.06 |
Credit demand can pull origination, underwriting and collections capacity with it.
Companies can appear in multiple categories; these counts are not a unique-company total.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 40 | 10.16 |
| 2024Q4 | 66 | 14.95 |
| 2025Q1 | 118 | 26.33 |
| 2025Q2 | 54 | 17.81 |
| 2025Q3 | 97 | 28.09 |
| 2025Q4 | 22 | 6.95 |
| 2026Q1 | 42 | 12.72 |
Crypto cycles can pull exchange, wallet and compliance demand in waves.
This signal has no matching category in the page’s investment industry market map, so no supply percentile or gap is assigned.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 6 | 1.52 |
| 2024Q4 | 9 | 2.04 |
| 2025Q1 | 8 | 1.79 |
| 2025Q2 | 5 | 1.65 |
| 2025Q3 | 24 | 6.95 |
| 2025Q4 | 15 | 4.74 |
| 2026Q1 | 19 | 5.75 |
Inclusion pushes can pull low-cost payment and credit rails toward new users.
This signal has no matching category in the page’s investment industry market map, so no supply percentile or gap is assigned.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 22 | 5.59 |
| 2024Q4 | 36 | 8.15 |
| 2025Q1 | 36 | 8.03 |
| 2025Q2 | 29 | 9.56 |
| 2025Q3 | 58 | 16.79 |
| 2025Q4 | 14 | 4.42 |
| 2026Q1 | 36 | 10.9 |
Trust friction can reward whoever fixes service, complaints and fraud handling.
This signal has no matching category in the page’s investment industry market map, so no supply percentile or gap is assigned.
Mentions per 10,000 articles · zero baseline
| Quarter | Mentions | Per 10,000 articles |
|---|---|---|
| 2024Q3 | 6 | 1.52 |
| 2024Q4 | 13 | 2.94 |
| 2025Q1 | 10 | 2.23 |
| 2025Q2 | 14 | 4.62 |
| 2025Q3 | 22 | 6.37 |
| 2025Q4 | 23 | 7.27 |
| 2026Q1 | 30 | 9.08 |
Mumbai investment industry coverage
International Journal of Bank Marketing
330 citations in the snapshot
Social Science & Medicine
282 citations in the snapshot
PLoS ONE
244 citations in the snapshot
The Journal of Finance and Data Science
241 citations in the snapshot
Mumbai coverage of this page's demand families
| Keyword | Recent articles | Prior articles | Share change |
|---|---|---|---|
| em corporate bonds | 87 | 26 | 322.8% |
| muni bond yields | 80 | 25 | 304.4% |
| trade finance | 99 | 45 | 178.0% |
| interest-sensitive sectors | 28 | 13 | 172.2% |
| yuan exchange | 21 | 10 | 165.4% |
| crude oil prices | 41 | 20 | 159.0% |
Share changes describe coverage in the stated comparison periods, not search demand or market size.
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 ↗