Fintech platform Groww reported impressive results for the fourth quarter of fiscal year 2026. Its operating revenue increased by 87% to Rs 1,505 crore, compared to Rs 801 crore in the prior year. Net profit more than doubled, reaching Rs 686 crore from Rs 309 crore. Expenses grew by 37% to Rs 599 crore. For the full year, total revenue climbed to Rs 4,644 crore from Rs 3,901.7 crore in fiscal 2025, with total profit at Rs 2,083 crore.
In related news, shares of eyewear retailer Lenskart dropped 5% following public criticism over its dress code policy.
Geopolitical tensions from the Iran conflict are hindering the growth of global capability centers (GCCs) in India. In the March quarter, 63 new GCCs were established, a decline from 74 in the same period last year. While greenfield setups increased to 28 from 24, discussions for new projects have decelerated since the conflict started. Despite this, the sector is expected to expand by 18-22% annually, per TeamLease Digital estimates. Industry figures indicate GCC revenues likely exceeded $80 billion in the recent fiscal year.
Major AI firms are enhancing their presence in Bengaluru, driving demand for office space. Anthropic launched its office in the city at Embassy Golf Links in February, marking its second Asian location after Tokyo. OpenAI intends to establish offices in Bengaluru and Mumbai by late 2026, in addition to its New Delhi operations. Mistral AI is negotiating with the Karnataka government to create a GCC in Bengaluru.
A proposed social security program for gig workers could involve several fund managers.
Public sector banks in India have been directed to significantly upgrade their encryption methods for enhanced security. Punjab National Bank is developing quantum-resistant systems for customer-facing services. State Bank of India is collaborating with IIT Jodhpur to address risks from counterfeit mobile applications.
Palantir’s recent manifesto, covering topics like AI in weaponry, Elon Musk, religion, and other issues, has sparked intense controversy and debate.
