CCAvenue’s parent AvenuesAI processed ₹1,479 billion in transaction processing value (TPV) in Q1 FY27, up 74% from ₹850 billion a year earlier. That quarter ended June 30, 2026, and revenue from operations rose 109% to ₹26,804.0 million. Over the same period the payments net take rate fell 49% to 5.3 bps (basis points), and net revenue slipped 3% to ₹1,475 million. Those three figures frame the CCAvenue statistics below: volume is growing much faster than AvenuesAI’s net revenue, which also includes its platforms business.
AvenuesAI serves 10+ million merchants across online and offline channels, and it completed its rename from Infibeam Avenues Limited to AvenuesAI Limited in January 2026. Every figure here comes from the company’s results releases, product press releases, annual report and stock exchange filings.
Key Takeaways
- TPV grew 74% in Q1 FY27 while the payments net take rate fell 49% to 5.3 bps.
- Net revenue fell 3% to ₹1,475 million in Q1 FY27 even as gross revenue rose 109%.
- FY26 net revenue of ₹6,031 million was 7.43% of ₹81,158 million in gross revenue, according to AvenuesAI filings.
- Infibeam Avenues’ FY25 headline TPV of ₹8,670 billion combined payments TPV with platform TPV, while FY26 payments TPV was ₹5,038 billion, up 55% from ₹3,240 billion.
- The UAE supplied 4.32% of FY26 group revenue, against a target of 12 to 15% of payments net revenue from international operations by FY28. The target covers all international business, not the UAE alone, and the two shares use different bases, gross revenue against payments net revenue, so they show direction rather than the gap to the target.
- Permanent employee turnover rose to 31% in FY2026 from 20% in FY2024.
Editor’s Choice
- Q1 FY27 TPV: ₹1,479 billion, up 74% year over year.
- FY26 payments TPV: ₹5,038 billion.
- FY26 gross revenue: ₹81,158 million, up 103%.
- FY26 adjusted profit after tax: ₹3,320 million, up 58%.
- Merchants: 10+ million across online and offline channels.
- Payment options: over 200.
CCAvenue Statistics: Q1 FY27 Payments Volume and Revenue
- TPV reached ₹1,479 billion in Q1 FY27, against ₹850 billion in Q1 FY26 and ₹1,655 billion in Q4 FY26.
- The payments net take rate (NTR) was 5.3 bps, down from 10.4 bps a year earlier, according to AvenuesAI.
- Revenue from operations rose 109% to ₹26,804.0 million, while EBITDA excluding other income grew 41% to ₹1,000.2 million, according to the AvenuesAI results release.
- Consolidated profit after tax (PAT) increased 45% to ₹847.6 million.
- Net revenue, gross revenue minus payment processing charges and direct platform expenses, was ₹1,475 million.
- EBITDA was 68% of net revenue and PAT 57%, against 47% and 38% in Q1 FY26.
- TPV counts CCAvenue India and international payments, BillAvenue bill payments and Go Payments.
| Metric | Q1 FY27 | Q1 FY26 | Change | Q4 FY26 |
|---|---|---|---|---|
| TPV (₹ billion) | 1,479 | 850 | 74% | 1,655 |
| Payments NTR (bps) | 5.3 | 10.4 | -49% | 6.0 |
| Gross revenue (₹ million) | 26,804 | 12,802 | 109% | 24,895 |
| Net revenue (₹ million) | 1,475 | 1,520 | -3% | 1,495 |
| EBITDA (₹ million) | 1,000 | 710 | 41% | 923 |
| PAT (₹ million) | 848 | 584 | 45% | 890 |
Source: AvenuesAI Q1 FY27 Earnings Presentation, August 2026
About This Data
Compiled from 11 sources dated May 2025 to October 2026. They are 1 annual report, 1 earnings presentation, 1 stock exchange filing and 8 press releases from AvenuesAI and Infibeam Avenues. Only company and exchange disclosures qualified. The filings used here give no CCAvenue transaction count and no India and international TPV split, so neither appears. Figures are reviewed on a rolling basis and updated when the company files new results.
CCAvenue Quarterly Transaction Processing Value (TPV)
- Payments TPV was ₹806 billion in Q3 FY25 and ₹1,361 billion in Q3 FY26, up 69%, according to AvenuesAI’s Q3 FY26 release.
- TPV grew 16% from Q2 FY26 to Q3 FY26.
- Q4 FY26 TPV was ₹1,655 billion, up 101% from ₹824 billion in Q4 FY25.
- TPV then eased 11% quarter on quarter to ₹1,479 billion in Q1 FY27.
View the data
By the numbers: AvenuesAI’s payments TPV reached ₹5,038 billion in FY26, up 55% from ₹3,240 billion in FY25. Its Q1 FY27 presentation puts the annualised TPV run-rate at ₹10.0 trillion. The company does not state how it calculates the run-rate, and it is not a reported annual total, so it reads as a pace rather than a result.
Recent Developments
- October 1, 2026: AvenuesAI’s board fixed October 13, 2026 as the record date for consolidating every 10 equity shares of ₹1 face value into 1 share of ₹10 face value.
- September 30, 2026: CCAvenue brought Apple Pay to its merchant network.
- September 9, 2026: CCAvenue launched its AI Suite at Global Fintech Fest 2026, starting with AI Forms, AI Invoicing and AI-powered Integration.
- August 11, 2026: Q1 FY27 results showed revenue from operations up 109% and PAT up 45% year over year.
- August 11, 2026: The board approved an increase in face value from ₹1 to ₹10 and a merger of Nueromind Technologies into AvenuesAI.
- Q1 FY27: The Reserve Bank of India (RBI) authorised AvenuesAI (GoWallet) to set up a payment system for prepaid payment instruments, and the Central Bank of the UAE (CBUAE) granted Avenues World in-principle approval for a Retail Payment Services licence.
CCAvenue Annual TPV and How the Definition Changed
- Payments TPV was ₹5,038 billion in FY26, a 55% increase on FY25.
- That measure covers CCAvenue India and international, BillAvenue and Go Payments, and includes both MDR based and zero MDR based payment options. The merchant discount rate (MDR) is the fee a merchant pays on each card or bank payment.
- Infibeam Avenues reported FY25 TPV of ₹8,670 billion, up 23% on FY24.
- That FY25 figure added GeM platform TPV to payments TPV. GeM is the Government e-Marketplace.
- CCAvenue’s September 2026 release puts FY26 transactions at ₹5.04 trillion ($53.4 billion) across payments and platforms. That matches the payments-only FY26 TPV above once rounded, and the release gives no separate platform figure.
- In H1 FY25-26, TPV rose 26% year on year and revenue grew 84%.
| Fiscal year | TPV measure | TPV (₹ billion) |
|---|---|---|
| FY24 | Payments plus GeM platform | 7,043 |
| FY25 | Payments plus GeM platform | 8,670 |
| FY25 | Payments only | 3,240 |
| FY26 | Payments only | 5,038 |
Source: Infibeam Avenues FY25 press release, May 2025; AvenuesAI Annual Report 2025-26
Worth noting: The two FY25 TPV figures differ by ₹5,430 billion, because the older headline included GeM platform TPV. Setting the old headline beside the FY26 payments figure would suggest volume fell. On the like-for-like payments measure, it grew, so year-on-year comparisons need the same definition on both sides.
CCAvenue Net Take Rate Statistics
- The average annual net take rate rose to 11.7 bps in FY25 from 8.2 bps in FY24.
- It fell to 7 bps in FY26, a 40% decline.
- During FY26 the payment mix shifted toward credit card, large ticket, enterprise and institutional activity, while a significant share of UPI merchant activity continued to carry a zero merchant discount rate. UPI is the Unified Payments Interface, the real-time payments rail behind PhonePe and other UPI apps.
- Net take rate is computed only on MDR based payment options.
- The quarterly rate was 9.2 bps in Q4 FY24 and 10.6 bps in Q4 FY25.
- It fell to 5.3 bps in Q1 FY27, down 49% year over year and 13% from Q4 FY26.
View the data
Why it matters: AvenuesAI’s Q1 FY27 TPV grew 74% while net revenue fell 3% to ₹1,475 million. Each rupee of volume now earns the company less than it did a year earlier, so payments scale alone no longer lifts net revenue. Earnings growth has to come from payment mix, costs or new products.
AvenuesAI Gross Revenue by Quarter
- Gross revenue was ₹10,704 million in Q3 FY25 and ₹23,812 million in Q3 FY26, up 122%.
- Q4 FY25 gross revenue of ₹11,605 million was up 62% from ₹7,162 million in Q4 FY24.
- Q1 FY27 revenue from operations reached ₹26,804.0 million, against ₹12,802.1 million in Q1 FY26.
- Q1 FY27 gross revenue was 2.50 times the Q3 FY25 level.
View the data
AvenuesAI Annual Revenue, EBITDA and Profit
- Gross revenue rose 103% to ₹81,158 million in FY26 from ₹39,926 million.
- Net revenue grew 15% to ₹6,031 million from ₹5,258 million. That was 7.43% of FY26 gross revenue.
- Adjusted PAT rose 58% to ₹3,320 million, and adjusted EBITDA rose 24% to ₹3,873 million.
- In FY24, gross revenue was ₹31,503 million and PAT ₹1,478 million.
- FY26 earnings per share were ₹9.42, based on the proposed post-corporate-action face value of ₹10 per share.
| Metric (₹ million) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Gross revenue | 31,503 | 39,926 | 81,158 |
| Net revenue | 4,192 | 5,258 | 6,031 |
| Adjusted EBITDA | 2,537 | 3,121 | 3,873 |
| Adjusted PAT | 1,478 | 2,095 | 3,320 |
Source: Infibeam Avenues FY25 press release, May 2025; AvenuesAI Annual Report 2025-26
Is Infibeam profitable?
Yes. AvenuesAI, formerly Infibeam Avenues, reported adjusted profit after tax of ₹3,320 million in FY26, up 58%. Consolidated PAT was ₹847.6 million in Q1 FY27, up 45%. The adjusted figures exclude mark to market and fair value gain or loss on an investment in a listed security.
The adjusted EBITDA margin on net revenue was 64% in FY26 and the PAT margin 55%, up from 59% and 40% in FY25.
View the data
AvenuesAI Guidance: FY26 Delivery and FY27 Outlook
- AvenuesAI guided FY26 gross revenue of ₹75,000 to 80,000 million and delivered ₹81,158 million.
- Revenue from operations, adjusted EBITDA and adjusted PAT each finished above the upper end of the revised range, while net revenue finished within it.
- For FY27, the company expects consolidated revenue of ₹110,000 million to ₹130,000 million.
- It guides FY27 earnings per share of ₹8.75 to ₹9.50, based on the proposed ₹10 face value.
- The low end of FY27 revenue guidance is 1.36 times FY26 gross revenue.
| Metric (₹ million) | FY26 guidance | FY26 actual |
|---|---|---|
| Gross revenue | 75,000 to 80,000 | 81,158 |
| Net revenue | 6,000 to 6,300 | 6,031 |
| Adjusted EBITDA | 3,500 to 3,750 | 3,873 |
| Adjusted PAT | 2,500 to 2,750 | 3,320 |
Source: AvenuesAI Annual Report 2025-26
AvenuesAI Revenue by Geography: India, UAE and Rest of World
- India generated ₹76,424.05 million of group revenue in FY26, up from ₹36,210.50 million in FY25.
- UAE revenue was ₹3,509.25 million in FY26 against ₹2,983.46 million in FY25.
- The UAE contributed 4.32% of FY26 group revenue, down from 7.47% in FY25.
- AvenuesAI targets 12 to 15% of payments net revenue from international operations by FY28.
- UAE and Oman are operational, and AvenuesAI plans to manage its international business outside India from its UAE subsidiary.
View the data
The two shares use different bases: gross revenue by customer location on one side, a payments net revenue target on the other. They show direction, not the distance left to the target.
CCAvenue Merchants and Payment Options
- AvenuesAI serves 10+ million merchants across online and offline channels.
- The payment business onboarded more than 420,000 merchants in FY25, a 35% increase on FY24.
- It added over 110,000 new merchants during Q4 FY25.
- BillAvenue, the bill payment platform, processed over 12 crore transactions in FY25.
- CCAvenue supports 6 major credit cards, 97+ debit cards across MasterCard, Visa, Maestro and RuPay networks, and 58+ net banking options.
- The CCAvenue payment gateway offers over 200 payment options to merchants.
| Payment option | Count |
|---|---|
| Major credit cards | 6 |
| Debit cards | 97+ |
| Net banking options | 58+ |
| Multi bank EMI (equated monthly instalment) options | up to 15 |
| Payment options in total | over 200 |
| International currencies | 27 |
Source: CCAvenue Apple Pay press release, September 2026
CCAvenue Market Share and India Digital Payments Context
- AvenuesAI’s Q1 FY27 presentation puts its share of India’s digital payments market at about 8%.
- It ranks itself among the top three business-to-business online payment gateways in India and among the top two non-bank private payment companies in the UAE.
- India’s digital payments reached approximately 281.7 billion transactions in FY26, with volume up 26.8% and value up 13.2%.
- The RBI authorised 23 non-bank payment aggregators during FY26.
- UPI processed approximately 241.62 billion transactions in FY26, against approximately 185.87 billion in FY25.
- UPI accounted for nearly 86% of total retail payment transactions.
| Indicator | FY26 value |
|---|---|
| Digital payment transactions in India | 281.7 billion |
| Digital payment value in India | ₹3,251.0 lakh crore |
| UPI transactions | 241.62 billion |
| UPI value | ₹314.23 lakh crore |
| Non-bank payment aggregators authorised | 23 |
| AvenuesAI share of India digital payments | about 8% (company-stated, August 2026 presentation) |
Source: AvenuesAI Annual Report 2025-26, citing Reserve Bank of India data; AvenuesAI Q1 FY27 presentation
Key finding: India’s total digital payments were worth ₹3,251.0 lakh crore in FY26, and digital payments accounted for 99.8% of total non cash transaction volume. The company-stated share of about 8% is AvenuesAI’s own estimate, and the presentation text does not disclose the base behind it.
CCAvenue Licences and Regulatory Approvals
- AvenuesAI received RBI authorisation for physical payment aggregation on November 17, 2025.
- That licence enables point of sale (POS) based offline payment aggregation alongside existing online capabilities.
- The RBI gave in-principle approval for prepaid payment instruments on October 27, 2025.
- Subsidiary IA Fintech IFSC Private Limited received in-principle approval to act as a Payment Service Provider at GIFT IFSC. GIFT IFSC is India’s offshore financial hub at GIFT City in Gujarat.
- Rediff.com India Limited received final approval from NPCI for consumer UPI functionality through RediffPay, and closed user group testing commenced on December 29, 2025. NPCI is the National Payments Corporation of India, the operator of UPI.
- In Q1 FY27, the RBI authorised AvenuesAI to set up a payment system for prepaid payment instruments under the Payment and Settlement Systems Act, 2007.
View the data
CCAvenue Ownership and the AvenuesAI Rename
- Infibeam Avenues’ board gave in-principle approval on December 11, 2025 to rebrand the company as AvenuesAI Limited.
- The rebrand completed on January 30, 2026, and trading on the National Stock Exchange (NSE) moved from the INFIBEAM ticker to CCAVENUE effective February 3, 2026.
- AvenuesAI announced the elevation of Vishwas Patel as Managing Director and CEO during FY26.
Is CCAvenue an Indian company?
Yes. CCAvenue is the flagship brand of AvenuesAI Limited, which trades on India’s BSE under code 539807 and on the NSE as CCAVENUE. AvenuesAI describes itself as India’s first listed fintech company, listed in 2016. AvenuesAI plans to manage its international business outside India from its UAE subsidiary.
What is the new name of Infibeam?
Infibeam Avenues Limited is now AvenuesAI Limited, after the Registrar of Companies, Ministry of Corporate Affairs approved the change in name. The company said its new identity is anchored in CCAvenue, and the BSE code 539807 continues unchanged.
Who is the CEO of Infibeam Avenues?
Vishwas Patel is Managing Director and CEO of AvenuesAI, the former Infibeam Avenues. Vishal Mehta is Chairman and Managing Director. The same governance update appointed Dr. Neharika Vohra as an Independent Director.
AvenuesAI Employees and Workforce Statistics
- AvenuesAI lists 950+ employees and 300+ domain experts.
- The annual report’s sustainability disclosure counts 624 permanent employees, 150 of them women, or 24%.
- Women held 2 of 7 board seats, or 28.6%, and 0 of 4 key management roles.
- Permanent employee turnover reached 31% in FY2026, with a female rate of 37% against 28% for men.
View the data
AvenuesAI Balance Sheet and Rights Issue
- Total assets increased by approximately 36.0% to ₹73,019 million at the end of FY26.
- Cash and cash equivalents increased to ₹9,132 million from ₹3,313 million, with ₹8,136 million of investments held in addition.
- A ₹7,000 million rights issue was oversubscribed 1.40 times, and the amount raised on July 15, 2025 was ₹6,999.86 million.
- The company does not intend to deploy its own balance sheet for lending.
| Item | March 31, 2025 | March 31, 2026 |
|---|---|---|
| Total assets | 53,687 | 73,019 |
| Total equity | 38,437 | 49,772 |
| Cash and cash equivalents | 3,313 | 9,132 |
Source: AvenuesAI Annual Report 2025-26
Conclusion
CCAvenue’s parent processed ₹1,479 billion of TPV in Q1 FY27 at a net take rate of 5.3 bps, after FY26 payments TPV of ₹5,038 billion. The volume story is strong, and consolidated net revenue, which also covers the platforms business, shows how little of it AvenuesAI now keeps.
Management expects FY27 consolidated revenue of ₹110,000 million to ₹130,000 million. The next filings will show whether the prepaid, offline and UAE licences add net revenue or mainly add low-margin volume. We will update these figures when they arrive.
