homeearnings NewsKFin Tech anticipates 15 17% revenue growth in FY24 with consistent market share expansion
KFin Tech anticipates 15-17% revenue growth in FY24 with consistent market share expansion
In an interview with CNBC-TV18, Sreekanth Nadella, MD & CEO of KFin Technologies said that he expects mid-teens revenue growth and a margin between 40-45 percent in FY24.
KFin Technologies' growth prospects are well-founded, as the company's market share has been consistently increasing in recent years. The company is currently holding a 35 percent market share and expects a 50 basis point increase in FY24. This increase in market share would be a significant achievement for KFin Technologies, as it would help consolidate its position as a leading player in the market.
Currently, KFin Tech is a leading provider of investor and issuer services, and its offerings are highly valued by clients. This has allowed the company to build a loyal customer base, which in turn helped to expand the market share over a period of time.
In an interview with CNBC-TV18, Sreekanth Nadella, MD & CEO of KFin Technologies said that he expects mid-teens revenue growth and a margin between 40-45 percent in FY24.
Also Read | KFin Technologies acquires 25.6% stake in account aggregator Fintech Products and Solutions for Rs 6.5 crore
Nadella said, “In terms of revenue growth, we are looking at mid-teens this year. Revenue contribution from other lines of business like our international, alternatives, and the pension businesses – they have been growing north of 25 percent and that trajectory will continue this year.”
“Our market share has been steadily growing over the last 4 years. It has improved from 29 percent to 35 percent this year. It would be hard for me to predicate market share expansion, but I would like to believe that anywhere around 50 basis points are a possibility this year,” added Nadella.
Talking about FY24, Nadella said that he is confident that KFin Technologies will continue to grow and thrive. The company has several exciting initiatives in the pipeline at present, and it is well-positioned to take advantage of emerging opportunities in the market.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
First Published: May 5, 2023 3:39 PM IST
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