AvenuesAI (formerly Infibeam Avenues) announced robust financial results for Q3 FY26, demonstrating significant growth across key metrics. Consolidated TPV grew 69% YoY to INR 1.36 trillion, while Net Revenue saw a 6% YoY increase to INR 1,485 million. Reflecting this strength, the company has substantially revised its full-year FY26 guidance upwards for Gross Revenue, Net Revenue, EBITDA, and PAT, emphasizing an inflection point driven by its AI-native strategy.
Q3 FY26 Performance Highlights: Profitable Growth
AvenuesAI reported strong consolidated performance for the quarter ended December 31, 2025 (Q3 FY26), marking significant year-over-year (YoY) improvements across business and financial metrics.
Business Performance Metrics
- Merchants: Exceeded 10+ million merchants on the platform.
- TPV: Total Transaction Processing Value (TPV) reached INR 1.36 trillion, a substantial growth of +69% YoY.
- Payments NTR (Net Take Rate): Stood at 6.1 bps, marking a -45% YoY change, attributed to strategic volume expansion.
Financial Performance (INR million)
Financial results showcased accelerated profitability:
- Gross Revenue: Grew by +122% YoY to 23,812 million.
- Net Revenue (NR): Increased by +6% YoY to INR 1,485 million.
- EBITDA: Rose by +25% YoY to 981 million.
- PAT (Profit After Tax): Increased significantly by +59% YoY to 861 million.
Margin Profile Improvement
Margins reflected operational efficiency improvements:
- EBITDA Margin: Improved to 66% of NR (up from 56% YoY).
- PAT Margin: Strengthened to 58% of NR (up from 39% YoY).
Nine-Month FY26 Snapshot
For the nine months ended December 31, 2025 (9M FY26), the consolidated figures also indicated healthy expansion:
- TPV: Increased by +40% YoY to INR 3,383 billion.
- Net Revenue (NR): Grew by +16% YoY to INR 4,537 million.
- EBITDA: Increased by +23% YoY to INR 2,879 million, with the margin holding strong at 63% of NR.
- PAT: Grew by +49% YoY to INR 2,365 million, resulting in a PAT margin of 52%.
FY26 Guidance Revised Upwardly
In light of the strong Q3 performance, AvenuesAI has raised its guidance for the full fiscal year 2026 (FY26), signaling confidence in its AI-native infrastructure strategy:
| Particulars (INR Million) | Original FY26 Guidance | Revised FY26 Guidance |
|---|---|---|
| Gross Revenue | 50,000 – 55,000 | 75,000 – 80,000 |
| Net Revenue | 5,400 – 6,000 | 6,000 – 6,300 |
| EBITDA | 3,250 – 3,500 | 3,500 – 3,750 |
| PAT | 2,100 – 2,200 | 2,500 – 2,750 |
Strategic Developments: AI and Regulatory Milestones
The quarter was marked by several key strategic developments reinforcing the shift towards an AI-first platform:
- Corporate Rebranding: Completed the rebranding to AvenuesAI Limited to reflect its full-stack, AI-driven fintech evolution.
- Agentic Payments Launch: Launched PayCentral.ai, India’s first agentic payment platform built on Google’s AP2 protocol.
- CCAvenue CommerceAI: Introduced CommerceAI, powered by the proprietary Model Context Protocol (MCP), enabling autonomous, intelligent payment orchestration.
- Regulatory Approvals: Received in-principle approval from IFSCA for cross-border payments at GIFT City and secured RBI in-principle authorization to issue Prepaid Payment Instruments (PPIs). Furthermore, RBI authorization was received for the Offline Payment Aggregator License.
- Rediff Integration: Secured the TPAP license and initiated Closed User Group (CUG) testing for RediffPay, positioning it as a financial-wellness UPI app.
- Industrial Expansion: Executed a strategic MoU with Nawgati Tech to deploy Video-LLMs and agentic AI in the fuel, fleet, and energy sectors.
Investment Thesis Reinforcement
The company continues to emphasize its structural differentiators, including multi-layer regulated payment licenses, a closed-loop ecosystem, AI embedded transaction orchestration, and leveraging Rediff as a low-CAC consumer acquisition engine.
The Compounding Flywheel
The growth model centers on a flywheel effect where Growth Increases Intelligence, and Intelligence increases margin. Key components driving this advantage include:
- Rediff: Provides a Low CAC Consumer Acquisition Engine and First-Party Data.
- RediffOne: Creates high switching costs through integrated Commerce, Communication, Compliance, and Intelligence modules, embedding payments by default.
- CCAvenue: Functions as the AI-Powered Monetization Engine, driving Contextual, Automated, Decision-Driven transactions leading to higher net contribution per transaction.
- Phronetic AI: Acts as the Intelligence Control Layer (The Brain), turning Data into Actions (Approve/Reject, Route/Retry) across payments and workflows, directly contributing to the Margin Flywheel.
Global Ambition
AvenuesAI is executing plans for international expansion, managed via the UAE subsidiary, targeting 12-15% international contribution to Payment’s Net Revenue by FY28, focusing initially on the GCC and the USA.
Source: BSE
