Category Archives: News

Chandigarh University Researchers Develop an Economical Device for Accurate Drug Absorption Studies; to Help in Reducing Cost of Medicines by 40%

Chandigarh University researchers get patent for an energy-efficient, economical device for accurate drug absorption studies

CHANDIGARH, India, July 28, 2026 /PRNewswire/ — A team of researchers at Chandigarh University has developed an innovative laboratory device that could significantly improve the way oral medicines are tested during development, enabling more accurate, reliable and cost-effective drug absorption studies that can ultimately support the development of safer and more effective medicines. By addressing several long-standing limitations in conventional drug absorption equipment, the innovation enables researchers to generate more dependable experimental data while reducing the likelihood of failed studies, repeated experiments and unnecessary research costs. The improved version of the apparatus also reduces the size and complexity of the conventional equipment, resulting in a 40 per cent reduction in operational costs and making a low-cost version of the device available for pharmaceutical research and routine laboratory use.

Recognizing the novelty and practical significance of the innovation, the Indian Patent Office has granted the Chandigarh University researchers a patent for their invention titled ‘Improved Oral Drug Absorption Study Cell’. The innovation, developed by Chandigarh University researchers, Prof. (Dr.) S.S. Sehgal and Prof. (Dr.) Manish Goswami (former professor at University Institute of Pharmaceutical Sciences), Chandigarh University, has been granted a patent by the Indian Patent Office for its novel design. The patented device introduces engineering improvements that overcome several limitations of the conventional drug absorption apparatus while remaining simple to manufacture, economical to operate and suitable for routine laboratory use.

The reliable drug absorption studies form the foundation of oral medicine development, helping scientists determine whether a medicine administered orally can efficiently cross the intestinal barrier and enter the bloodstream before it progresses to advanced stages of research. More accurate laboratory data allows researchers to optimise formulations much earlier in the development cycle, reducing uncertainty before medicines move to expensive pre-clinical and clinical evaluation while strengthening confidence in pharmaceutical research.

Sharing details and significance of the innovation, Prof. (Dr.) S.S. Sehgal said, “Drug absorption studies are among the most important stages in oral drug development because they help scientists understand how efficiently a medicine is likely to be absorbed before it progresses to advanced stages of research. The conventional drug absorption equipment offer very limited space, forcing researchers to fold the everted intestinal tissue inside the chamber. This places unnecessary stress on the tissue, affects its natural positioning and can result in variability into the drug experimental observations. In many cases, tissue damage or improper placement can even result in experimental failure that forces researchers to repeat the study and increase both development time and research costs.”

Prof. Sehgal added, “Instead of altering the testing methodology, we redesigned the apparatus to address the limitations of conventional systems. By introducing an extended side arm, our equipment allows the tissue to remain in a natural U-shaped position helping in proper drug absorption to occur under consistent conditions. Along with improved temperature uniformity, better mixing of the drug solution and greater operational stability, the redesigned apparatus helps generate more accurate and reproducible data that can improve the evaluation of oral drug formulations.”

Highlighting the broader impact of the invention, Prof. (Dr.) Manish Goswami said, “Scientific progress is often driven by improving the tools researchers use every day. Even relatively small improvements in laboratory equipment can have a significant impact on the quality of research data. By making drug absorption studies more reliable and easier to perform, this innovation can support pharmaceutical scientists in developing better oral formulations and ultimately contribute to medicines that offer greater therapeutic effectiveness for patients.”

Elaborating on the improvements, Dr. Manish Goswami said, “Our objective was to improve the reliability of the experiment through a simple yet effective engineering solution. One of the biggest advantages of this innovation is that it minimizes variations during sample collection, making drug absorption studies more reliable and consistent. The device features a compact design built using laboratory-grade materials such as borosilicate and Teflon-coated glass to ensure durability and precision. At the same time, its optimized architecture reduces the overall size of the apparatus, simplifies fabrication and handling, and lowers operational costs by 40 per cent, making it an economical solution for pharmaceutical research. These improvements create more consistent and reproducible experimental conditions, enabling researchers to generate higher-quality data without adding complexity to the procedure.”

The innovation is expected to benefit through its application in pharmaceutical industry, drug discovery and development sector, pharmaceutical R&D centres, Contract Research Organizations (CROs), Clinical Research Organizations (CROs), universities and pharmacy colleges, government research laboratories and regulatory testing laboratories where drug absorption studies are routinely carried out for formulation development, pre-clinical research and evaluation of oral medicines.

Apart from improving the experimental accuracy, the redesigned apparatus also reduces operational complexity by eliminating the need for extra heating arrangements. Its simplified design lowers energy requirements, improves laboratory efficiency and reduces overall operating costs, making it suitable for routine use across pharmaceutical laboratories, academic institutions and research organisations.

With oral medicines accounting for the majority of pharmaceutical formulations used worldwide, improvements in early-stage drug absorption studies can strengthen the entire drug development process. By enabling more reliable laboratory testing while reducing time, cost and experimental variability, Chandigarh University’s patented innovation has the potential to support faster formulation optimisation, improve pharmaceutical research and contribute to the development of safer, more effective oral medicines for patients across the globe.

About Chandigarh University

Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.

Website address: https://www.cuchd.in/

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Flipster Secures VARA Full Operational Exchange License, Advancing Regulated Crypto Services in the UAE

DUBAI, UAE, July 28, 2026 /PRNewswire/ — Flipster, a global cryptocurrency trading platform, has secured a full operational Exchange license (License No. VL/26/07/002) from Dubai’s Virtual Assets Regulatory Authority (VARA) under Flipster FZE. This milestone enables Flipster to officially launch regulated virtual asset services in the region and marks a significant step in its global expansion strategy.

With this license, Flipster FZE is authorized to onboard customers in the UAE, with plans to gradually expand access to a broader global user base. Flipster offers access to real world asset perpetuals in supported jurisdictions, giving users trading exposure to both digital and traditional asset classes. The initial offering will focus on spot trading, forming the foundation of Flipster’s regulated product suite.

This approval marks Flipster’s transition from regulatory readiness and in-principle approval to full operational capability under VARA’s framework, one of the most comprehensive and globally recognized regulatory regimes for digital assets.

Operating under VARA’s framework allows Flipster to provide a more secure and transparent trading environment, supported by robust standards for custody, governance, and compliance. This reinforces the platform’s commitment to safeguarding users while providing reliable access to digital assets.

And it also reflects Flipster’s commitment to meeting the highest standards in global finance. Flipster believes regulation is essential to building long-term trust, and VARA sets a strong benchmark for balancing innovation with investor protection.

Flipster first announced its entry into the Middle East in May 2025 with the appointment of Benjamin Grolimund as General Manager of Flipster FZE. Securing the full operational license marks the next phase of this expansion, as the company moves from market entry to delivering regulated services in one of the world’s most advanced digital asset ecosystems.

About Flipster

Flipster is a leading cryptocurrency trading platform, founded in 2023. It is designed by traders, for traders. With deep liquidity, industry-leading leverage, and wide coverage across global markets, Flipster is built for every trading style and gives traders the flexibility to seize opportunities wherever they emerge. Flipster offers access to real world asset perpetuals in supported jurisdictions, giving users trading exposure to both digital and traditional asset classes from a single platform. Learn more at flipster.io or follow X.

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Indian Railways Sanctions INR 163 Crore Project to Modernise Nanded Division

New Delhi, July 28: Indian Railways has approved a ₹163 crore infrastructure project to upgrade the electric traction system in the Nanded division, marking a significant step towards improving rail operations and network efficiency.

The project will modernise the division’s electric traction infrastructure, helping enhance train movement, improve operational reliability, and strengthen the capacity of the railway network.

Railway officials said the upgrade is expected to support faster and more efficient passenger and freight services while improving energy efficiency and reducing maintenance requirements.

The investment is part of Indian Railways’ broader modernisation drive to build a safer, smarter, and more sustainable rail network across the country.

The project is also expected to improve regional connectivity, strengthen logistics, and support economic activity by enhancing the overall performance of the railway system.

The approval reflects the government’s continued focus on expanding world-class railway infrastructure to meet India’s growing transportation and freight requirements.

Rajkot Zoo Celebrates Arrival of Three Asiatic Lion Cubs, Boosting Conservation Efforts

Rajkot, July 28: A moment of joy for wildlife conservation has emerged at Rajkot Zoo in Gujarat, with the birth of three Asiatic lion cubs, taking the zoo’s lion population to 20.

The arrival of the cubs has brought excitement among zoo officials and visitors while highlighting the importance of conservation efforts aimed at protecting the endangered Asiatic lion species.

Zoo authorities said the newborn cubs are under close observation and receiving dedicated care to ensure their healthy growth and well-being.

The successful birth reflects the role of zoological parks and conservation programmes in supporting wildlife protection, creating awareness, and contributing to the preservation of threatened species.

Asiatic lions hold a special place in India’s natural heritage, with conservation initiatives playing a key role in safeguarding their future. The addition of the three cubs marks another encouraging step in efforts to protect and promote the species.

The new arrivals are expected to attract visitors while inspiring greater awareness about wildlife conservation and the need to preserve endangered animals.

Japan on High Alert After Major Earthquake Raises Tsunami Concerns

Tokyo, July 28: A strong 7.1 magnitude earthquake struck Japan’s Kyushu region, prompting authorities to issue a tsunami alert and urge coastal communities to remain cautious.

The earthquake was recorded in the Kumamoto area, with the Japan Meteorological Agency warning of possible sea level changes and advising residents in vulnerable coastal areas to move to safer locations.

Officials said precautionary measures have been activated to protect communities, while emergency teams are monitoring the situation and assessing any possible impact.

Residents have been advised to stay away from coastal zones until further updates are issued and to follow instructions from local authorities.

Japan, one of the world’s most earthquake-prone countries, has established strong disaster response systems to manage seismic events and protect lives during natural emergencies.

Authorities continue to monitor aftershocks and weather conditions while keeping communities informed about further developments.

From Startup to Space Success: Skyroot Showcases India’s New-Age Innovation

New Delhi, July 28: Prime Minister Narendra Modi met the founders of Skyroot Aerospace following the successful achievement of the Vikram-1 mission, recognising their contribution to India’s growing private space ecosystem.

PM @narendramodi meets @SkyrootA founders after Vikram-1 success, hails India’s growing private space ecosystemhttps://t.co/UMlS8m5DpI

via NaMo App pic.twitter.com/8eYyQMdO36

— PMO India (@PMOIndia) July 28, 2026

The Prime Minister praised the team’s efforts in advancing space technology and highlighted the important role of startups in shaping India’s future in the global space industry.

The success of Vikram-1 reflects the growing capabilities of Indian entrepreneurs and innovators in developing advanced space solutions. It also marks a significant step towards encouraging greater private participation in the country’s space programme.

The interaction highlighted how young companies are bringing fresh ideas, technology, and innovation to the sector, creating new opportunities in areas such as launch vehicles, satellite technology, and space-based services.

India’s private space sector has witnessed rapid growth in recent years, supported by policy reforms and increasing collaboration between government agencies and private enterprises.

The milestone achieved by Skyroot Aerospace underlines India’s ambition to build a strong, competitive, and innovation-driven space ecosystem with a greater presence in the global space economy.

IIM Udaipur Celebrates 15 Years of Excellence, Honours Legacy and Looks Ahead to a Global Future

UDAIPUR, India, July 28, 2026 /PRNewswire/ — The Indian Institute of Management Udaipur (IIM Udaipur) marked its 15th Foundation Day with a grand celebration on campus, bringing together distinguished academicians, industry leaders, alumni, faculty, staff, and students to commemorate the Institute’s remarkable journey of academic excellence, research leadership, and global recognition.

The celebration was graced by Prof. Somak Raychaudhury, Vice-Chancellor of Ashoka University, as the Guest of Honour and keynote speaker. Also present were Mr. Pranay Chulet, Founder & CEO of Quikr and Member of the Board of Governors, IIM Udaipur; Prof. Ashok Banerjee, Director, IIM Udaipur; Prof. Vijayta Doshi, Dean – Programs; and Prof. Anirban Adhikary, Dean – Faculty and Research.

Founded on July 27, 2011, IIM Udaipur has rapidly established itself as one of India’s leading management institutions. Today, it is the youngest Indian Institute of Management to receive AACSB accreditation and has consistently featured in the QS World University Rankings and the Financial Times Masters in Management Global Rankings for 7 consecutive years, reflecting its growing international reputation.

Welcoming the gathering, Prof. Vijayta Doshi highlighted the Institute’s commitment to delivering transformative management education while nurturing socially responsible and globally competent leaders. In his Foundation Day address, Prof. Ashok Banerjee reflected on the milestones achieved by the Institute and outlined its vision for the future, emphasising excellence in teaching, impactful research, international collaborations, digital innovation, and stronger engagement with industry and society.

Delivering the Board’s perspective, Mr. Pranay Chulet shared valuable insights on entrepreneurship, innovation, and the evolving business landscape. Encouraging students to embrace curiosity, resilience, and lifelong learning, he spoke about the importance of institutions like IIM Udaipur in shaping leaders capable of creating meaningful impact in an increasingly dynamic world.

A significant highlight of the celebration was the recognition of faculty and staff members who have completed ten years of dedicated service to the Institute. Prof. Arundhati Bhattacharyya, Dr. Arvind Sharma, and Mr. Maredla Uday Bhaskar were felicitated for their long-standing contributions to the Institute’s growth. The ceremony also featured the presentation of the Research Paper Publication Award to Mr. Pramod Kumar, recognising excellence in research and scholarly contribution.

Representing the alumni community, Mr. Kshitij Prabhu, Partner at Cura Capital and an elected member of the IIM Udaipur Alumni Council, addressed the gathering and reflected on the Institute’s growing global alumni network. He reaffirmed the Alumni Council’s commitment to strengthening alumni engagement and mentoring future generations of IIM Udaipur graduates.

Another highlight of the ceremony was the announcement of the Professor of the Year Award by the IIM Udaipur Alumni Council, which recognises excellence in teaching and a lasting impact on the student community. The award was presented to Prof. Rajesh Agrawal, who received the honour for the third consecutive year, reflecting the Institute’s alumni’s deep appreciation and continued admiration for his outstanding contribution to management education.

The keynote address by Prof. Somak Raychaudhury inspired the audience with thought-provoking insights on scientific inquiry, interdisciplinary learning, and the role of higher education in driving innovation and nation-building. Drawing from his distinguished career in astrophysics and academic leadership, he emphasised that institutions must foster curiosity, creativity, and collaboration to address the complex challenges of the future.

Shri Raghuvir Kothi Memorial Scholarship, instituted to support and encourage academic excellence among the children of IIM Udaipur staff members, was continued for the second consecutive year. This scholarship was awarded to Ms. Aanvi Sharma, daughter of Shri Sachin Sharma.

The ceremony concluded with a Vote of Thanks by Prof. Anirban Adhikary, bringing to a close a memorable celebration that honoured IIM Udaipur’s achievements while reaffirming its commitment to shaping responsible leaders, advancing impactful research, and contributing meaningfully to society.

As IIM Udaipur embarks on its sixteenth year, the Institute remains steadfast in its pursuit of excellence, innovation, and global impact, strengthening its position as one of India’s fastest-rising business schools and a hub for transformative management education.

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KuCoin Celebrates Nine Years of Brand and Industry Evolution as the Celestia Stage Transforms at Tomorrowland Belgium Weekend 2

PROVIDENCIALES, Turks and Caicos Islands, July 28, 2026 /PRNewswire/ — KuCoin concluded the second weekend of Tomorrowland Belgium 2026 by marking its ninth anniversary alongside its global partners and community, while celebrating the broader progress of the digital asset industry over the past nine years. The milestone formed part of a memorable weekend that also brought an entirely new lineup of artists to the Celestia Stage and revealed the next chapter of its evolved visual identity, with the butterfly-inspired structure emerging in KuCoin’s signature green. Together, these moments connected KuCoin’s anniversary narrative, Tomorrowland’s creative energy and Celestia’s vision of trust, discovery and transformation.

KuCoin’s ninth anniversary was celebrated through its broader “Beyond the Signal” campaign, which looks beyond short-term market movements toward the trust, innovation and infrastructure enabling the industry’s long-term development. During Weekend 2, KuCoin marked the milestone through the “On Cloud 9 Skybox Experience,” bringing partners and community representatives together to recognize nine years of shared growth and industry progress.

Throughout the weekend, the Celestia Stage offered festivalgoers an entirely new program of artists, including Mark Knight, Mr. Belt & Wezol, Belters Only, Bingo Players with Iceman, Dada Life, Sander van Doorn and Dannic b2b Dyro. From house and progressive sounds to high-energy electronic sets, the performances created a vibrant festival atmosphere, bringing audiences from around the world together through music, movement and shared celebration.

Following its debut during Weekend 1, Celestia returned with an evolved visual identity, transforming from a young butterfly with a transparent roof and subtle touches of KuCoin green as the color gradually spread across its translucent wings, forming vivid emerald patterns while preserving the stage’s light and open character. Shaped by the music, energy and connections shared across both weekends, this evolution symbolized growth, trust and possibility, while reflecting KuCoin’s nine-year journey and the digital asset industry’s broader transformation from an emerging, trading-focused technology into trusted infrastructure increasingly connected to finance, culture and everyday life.

The Celestia Stage brings together the perspectives of KuCoin and Tomorrowland: a belief in the power of imagination, technology and community to connect people across borders. Tomorrowland invites people to explore new worlds through music and creativity, while KuCoin is working to make the future of digital finance more accessible, trusted and human.

As Tomorrowland’s Official Exclusive Crypto Exchange and Crypto Payments Partner for Tomorrowland Winter and Tomorrowland Belgium 2026 – 2028, KuCoin will continue working with Tomorrowland to create meaningful real-world connections. The shared vision remains clear: lasting transformation is built through trust, brought to life through innovation and carried forward by global communities.

About KuCoin

Founded in 2017, KuCoin is a leading global crypto platform built on trust and security, serving over 45 million users across 200+ countries and regions. Known for its reliability and user-first approach, the platform combines advanced technology, deep liquidity, and strong security safeguards to deliver a seamless trading experience. KuCoin provides access to 1,500+ digital assets through a broad product suite and remains committed to building transparent, compliant, and user-centric digital asset infrastructure for the future of finance, backed by SOC 2 Type II, ISO/IEC 27001:2022, and ISO/IEC 27701:2019 Certifications. In recent years, we have built a strong global compliance foundation, marked by key milestones including AUSTRAC registration in Australia, a MiCA license in Europe, and regulatory progress in other markets.

Learn more at www.kucoin.com.

About Tomorrowland

Founded 20 years ago by Belgian brothers Manu and Michiel Beers, Tomorrowland remains a family-owned business driven by a creative and passionate team. Over the years, Tomorrowland has evolved into a global entertainment brand.

The WEAREONE.world group consists of several business units, including Festival & Events, Music, Experiences, Leisure, Products and Fiction. Today, more than 350 team members create magic from the company’s headquarters in Antwerp, Belgium, as well as local offices in Brazil, France, Ibiza and Thailand.

Known for bringing people together through music, creativity and storytelling, Tomorrowland has become one of the world’s most recognized and influential festival brands, inspiring millions through unforgettable experiences and a shared vision of connection.

Photo – https://mma.prnewswire.com/media/3008009/image1.jpg

Logo – https://mma.prnewswire.com/media/2785613/KuCoin_new_Logo.jpg

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Altimetrik Launches Industrial AI Service Line with Three New Solutions for Autonomous Manufacturing

Smart Machines, Smart Plants, and Smart Operations help manufacturers move from isolated AI pilots to production-scale industrial intelligence

BENGALURU, India, July 28, 2026 /PRNewswire/ — Altimetrik, an AI-native engineering company, has introduced an industrial AI service line with three solutions designed to help manufacturers and other enterprises integrate AI directly into machines, factory floors, and supply chain operations. 

The three solutions — Smart Machines, Smart Plants, and Smart Operations can operate independently or as part of an integrated system. They enable organizations in the semiconductor, automotive, aerospace, defense, industrial machinery OEM, and pharmaceutical industries, among others, to start with a single machine or use case and expand toward plantwide and enterprise-wide autonomous operations. 

“The measure of industrial AI is simple: how much waste does it remove from the line. Less downtime, less scrap, less capital tied up in inventory,” said Raj Sundaresan, CEO of Altimetrik. “This service line takes the engineering discipline of ALTi AIOS™ to the factory floor, and our work with LMW shows what that looks like: AI embedded in the machines themselves, improving accuracy and uptime.”

The industrial AI service line leads with business outcomes and is delivered through three integrated motions: executive advisory, pilot to platform, and strategic transformation. The Smart Machines, Smart Plants, and Smart Operations solutions are designed for OEMs looking to embed AI into their core products, manufacturers optimizing production across machines and lines, and service providers improving performance and reliability for the assets they operate.

That starts with Smart Machines, which transforms equipment into self-aware, adaptive systems through edge-native intelligence. By combining machine connectivity, digital twins, closed-loop optimization, and predictive maintenance, Smart Machines identifies and corrects issues before they disrupt production, reducing downtime and improving equipment performance.

Smart Plants extends those capabilities to the factory floor as a copilot. Through plantwide data integration, OEE and throughput intelligence, and quality prediction systems, Smart Plants enables perception-decision-action autonomy across production lines. The result is zero-touch operations that improve yield and compress cycle times as labor and quality costs decline.

Smart Operations carries AI throughout the broader manufacturing value chain. By applying service and supply chain analytics, Smart Operations strengthens operational resilience and reduces working capital requirements while opening new revenue streams.

“Customers seek AI services firms who tie machine intelligence to plant-wide and enterprise-wide outcomes,” said R “Ray” Wang, the Founder, Chairman and Principal Analyst of Silicon Valley based Constellation Research Inc. “This is the type of pragmatic approach manufacturers need to get past pilots and deliver real results, rather than treating AI as a standalone capability.”

Industrial AI goes beyond analytics, reporting, and automation tools. It perceives, decides, and acts in the physical world, processing machine telemetry and sensor data in real time to make decisions at the edge in milliseconds. Lakshmi Machine Works (LMW) Limited, one of India’s leading engineering conglomerates and a global player in textile machinery and machine tools, recently engaged Altimetrik to embed AI and ML capabilities across its textile and machine tool business.

“In our ongoing engagement with Altimetrik, we remain fully assured of their proven AI-powered automation capabilities to drive tangible value across our global operations through improved machine accuracy and uptime,” said Sanjay Jayavarthanavelu, Chairman and Managing Director at LMW Limited. “This we believe will reduce shop-floor skill dependency thereby accelerating our service responsiveness. We look forward to deepening this partnership as we continue to embed such intelligence across our product portfolio.”

Altimetrik’s industrial AI solutions build on existing physical and operational technology infrastructure rather than requiring manufacturers to replace hardware, sensors, or edge devices. Every engagement operates under the company’s human-at-the-helm philosophy, ensuring operators retain oversight and control as AI assumes greater responsibility within production environments.

Learn more about how Altimetrik helps manufacturers and enterprises scale AI from pilot to production.

About Altimetrik

Altimetrik is an AI-native engineering company helping some of the most revered and iconic enterprises modernize systems, data, and processes at the heart of their business, so they can move faster, operate more efficiently, and innovate continuously. Through ALTi AIOS™, its AI-native operating system, Altimetrik combines the latest AI capabilities with deep engineering expertise to help clients solve complex challenges, accelerate modernization, and deliver measurable outcomes at scale.

Altimetrik’s clients get access to the latest AI innovations while maintaining the flexibility to choose the right technologies for their business, through trusted relationships with OpenAI, Google Gemini, Anthropic, Databricks, and major hyperscalers.

A member of the World Economic Forum’s Centre for AI Excellence, the Forum’s global hub for shaping responsible AI, Altimetrik is also recognized in the 2025 Constellation Research ShortList™ for Global AI Services and named a Major Contender in multiple Everest Group PEAK Matrix^® assessments, including Software Product Engineering Services (2026), Enterprise Quality Engineering Services (2025), and Digital Engineering Services for BFSI and Life Sciences. Learn more at altimetrik.com.

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HomeFirst Finance Company India standalone net profit rises 34.45% to Rs 160 cr Q1FY27

MUMBAI, India, July 28, 2026 /PRNewswire/ —

• AUM at ₹16,938 Cr; growth of 25.7% y-o-y and 6.7% q-o-q.
• Disbursal reaches record ₹1,628 Cr, delivering 31.0% y-o-y and 3.6% q-o-q growth.
• Stable Asset Quality maintained in line with Mar’26: 1+ DPD at 4.7%, 30+ DPD at 3.2%, 90+ DPD at 1.8%.
• PAT grows by 34.5% y-o-y and 7.0% q-o-q to ₹160 Cr. RoA at 4.2%

Key Performance

Commenting on the performance, Mr. Manoj Viswanathan, MD & CEO of HomeFirst Finance Company, said “As FY27 begins, the Indian economy continues to demonstrate strong resilience, supported by stable domestic consumption, moderating inflation, steady interest rates and improving liquidity. While global geopolitical and macroeconomic uncertainties persist, the outlook for affordable housing finance remains positive, driven by sustained customer demand.

Against this backdrop, HomeFirst delivered a robust start to the year. Assets Under Management (AUM) grew 25.7% year-on-year to ₹16,938 crore, while quarterly disbursements reached a record ₹1,628 crore. Growth was broad-based across geographies and distribution channels, reflecting the strength of the Company’s customer franchise, disciplined execution and continued demand in its target segment.

Financial performance remained strong, with Profit After Tax rising 34.5% year-on-year to ₹160 crore. Net Total Income increased by 29.9% to ₹332 crore, supported by healthy business growth, improving operating leverage and stable asset quality. Margins remained resilient through disciplined pricing and prudent liability management, while spreads stayed stable despite a competitive environment.

The Company continued investing in future growth by expanding its distribution network with four new branches, taking its presence to 175 branches and 373 touchpoints, while adding 133 employees, primarily in customer-facing roles. Asset quality remained stable, with Gross Stage 3 at 1.8% and credit costs contained at 40 basis points, reflecting the strength of HomeFirst’s underwriting and collections framework.

HomeFirst also advanced its sustainability agenda by certifying another 100 Green Homes during the quarter, taking the cumulative total to 550 certified homes. Looking ahead, the Company remains confident of delivering around 25% AUM growth while maintaining profitability, portfolio quality and operating efficiency. Backed by a strong capital position, diversified funding profile and scalable operating platform, HomeFirst believes it is well positioned to create sustainable long-term value for all stakeholders.”

For details, visit https://homefirstindia.com/.

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