Aazeb Parbatani

Capital Markets | Arsenal FC❤️

[Aazeb Parbatani @aazeb_]

@ai_EquiSense GNPA for Q1FY27 was 1.81%, Q1FY26 was 2.92%

[Aazeb Parbatani @aazeb_]

@NEDUszn8 Ryan Cherki

[Aazeb Parbatani @aazeb_]

@LegacySiu Ozil

[Aazeb Parbatani @aazeb_]

@Seraphinaf5 71

[Aazeb Parbatani @aazeb_]

@ai_EquiSense Nice breakdown of the result. Just have one question, how did you derive the ₹40,000 figure and 4.3% drop in revenue/interest income?

[Varinder Bansal 🇮🇳 @vbomkara]

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[Varinder Bansal 🇮🇳 @vbomkara]

Motilal upgrade Fusion to buy; target price 240/sh

Hope you did watch the entire Dhandha series covering the business in detail

[Omkara Capital @omkaracap]

👀 Glimpse from our latest #𝐃𝐇𝐀𝐍𝐃𝐇𝐀 𝐒𝐞𝐫𝐢𝐞�� 🎬⁣⁣
𝐍𝐨𝐫𝐭𝐡𝐞𝐫𝐧 𝐀𝐫𝐜 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 – 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐚 𝐒𝐮𝐭𝐫𝐚𝐝𝐡𝐚𝐫⁣⁣
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👉 𝐖𝐚𝐭𝐜𝐡 𝐟𝐮𝐥𝐥 𝐯𝐢𝐝𝐞𝐨: https://t.co/9XYx3FhQAh⁣⁣

#NorthernArc #OmkaraCapital #VarinderBansal

[Varinder Bansal 🇮🇳 @vbomkara]

DHANDHA Episode OUT! Northern Arc Capital: The Sutradhaar of India’s NBFC

Full video: https://t.co/3MsJGsmCKU

Invest 1 hour to learn and cut through the noise.
Hamesha Padh Likh Kar Invest Karein.

D: Biased, Owned, Advised

@omkaracap @_NorthernArc @AshishMehrotra_ @DigantHaria @aazeb_

[ValueEquity @EquityValueIn]

Northern Arc Capital , great interview and insights into the business , a must watch for investors and folks tracking it , a very good conversation
https://t.co/Vgb6nqcyhX

We have also been tracking and covering this business since Q4FY25

@varinder_bansal @DigantHaria thanks for the great conversation and insights

[Varinder Bansal 🇮🇳 @vbomkara]

*Northern Arc Dhandha Series KTAs - 19th September 2025*

*- The "Sutradhar" business role*
Northern Arc defines itself as a "sutradhar" (connector) that enables the flow of money from people from large domestic banks, global institutions to end customers. The company bridges the financing gap for hundreds of smaller NBFCs and MFIs that typically fall outside the top 100 favored by banks focusing its expertise on seven underserved sectors: rural finance, micro finance, small businesses, mobility, affordable housing, agricultural supply chain, consumer, and climate

*- Two Pronged Business Engine*
Northern Arc operates a dual business model. The *Credit Solution* Business works with 350 to 400 originating partners providing sophisticated financial products like structured finance and guarantees and running a profitable placement/securitization business. This placement business accounts for a meaningful share of India's securitization market and generates a powerful fee franchise. The *Direct Lending Business* targets deeply underserved segments like MSME (where 55% lack formal credit), Consumer, and Rural Finance, where they lend directly via phygital mode.

*- Risk Management Engine and Data Moat*
Their risk model is informed by over 15 years of tracking loan performance, leveraging 46 million time series of loan performance data to build scorecards and credit engines. This expertise helps answer critical lending questions: whom to lend, how much to lend, what price to lend, and the probability of default.

*- Unique Competitive Moat in Risk Management and Data*
Northern Arc's ability to act as a reliable connector rests on its proprietary domain expertise and risk framework. They engage early with partners, often putting "skin in the game" (money on their own balance sheet) and use over 46 million time series of loan performance data to evolve their risk models. They employ a large team of independent risk officers who physically cover 250 districts providing crucial on ground surveillance and enabling the company to identify early signs of stress.

*- Placement and Securitization Expertise*
Northern Arc is a meaningful contributor to the securitization market, holding almost 15% of India's market share and working with partners who account for over 35% of the market. Institutional investors continue to buy papers represented by Northern Arc because they have passed through its rigorous risk filters, validating the quality of the franchise

*- Technology Enables Scalability and Efficiency*
Northern Arc has built extensive digital capabilities; for instance, its NPOS platform handles 20,000 to 25,000 loans a day and has the capacity to process four loans per second. By monetizing this tech, Northern Arc is able to "punch 3x more weight than the size of its balance sheet'. They are also monetizing their proprietary technology (like NPOS and scorecards) which brings more accretive fees.

*- Growth Trajectory*
The company has been profitable QoQ and YoY for 15 years. The management is confident in achieving a sustainable CAGR of 22-25% over the next 5-7 years aspiring to double the current AUM of ₹13,000–14,000 crores in the next two to three years and a long term target of 4% RoA.

[Omkara Capital @omkaracap]

📢 𝐍𝐞𝐰 #𝐃𝐇𝐀𝐍𝐃𝐇𝐀 𝐄𝐩𝐢𝐬𝐨��𝐞 𝐎𝐔𝐓!⁣⁣
⁣⁣
Northern Arc Capital: The Sutradhaar of India’s NBFC Growth 🎬⁣⁣
Deep dive into its journey, strategies & future roadmap.⁣⁣
⁣⁣
👉 Watch full video: https://t.co/9XYx3FhiKJ⁣⁣

#NorthernArc #OmkaraCapital

[Omkara Capital @omkaracap]

The Northern Arc x Omkara #DhandhaSeries is Coming Soon! 🎬

👉 Subscribe here: https://t.co/3BT2wlvdLt

Featuring sharp insights from @varinder_bansal, @AshishMehrotra_, @DigantHaria, @aazeb_.

🔔 Stay tuned with @OmkaraCapital