PayU Drives Strong Growth as Prosus India Ecosystem Turns EBITDA Positive for the First Time
Global technology investor Prosus has reported a strong financial performance from its India operations in FY26, with its India ecosystem achieving adjusted EBITDA profitability for the first time. The milestone was largely driven by the continued growth of its fintech platform PayU, alongside improving performance across its broader portfolio of consumer technology companies.
According to Prosus’ FY26 Annual Report, the company’s India ecosystem generated $781 million in revenue, marking a 13% year-on-year increase from $694 million reported in FY25. The ecosystem also posted an adjusted EBITDA profit of $18 million, a significant turnaround from an adjusted EBITDA loss of $25 million in the previous financial year.
The strong financial performance reflects Prosus’ strategy of building an integrated digital consumer ecosystem spanning fintech, e-commerce, mobility, food delivery, travel, and home services.
How Did Prosus India Perform in FY26?
Prosus‘ India business recorded improvements across multiple financial metrics during FY26.
Apart from revenue growth, the company significantly reduced operating losses. Its adjusted EBIT loss narrowed sharply to $10 million, compared to $49 million in FY25, highlighting improving operational efficiency across the portfolio.
The India ecosystem employed 3,897 people during the financial year, reflecting the scale of Prosus’ investments in the country’s digital economy.
The company’s improving profitability comes after several years of investing heavily in technology platforms, customer acquisition, and product development across its Indian businesses.
PayU Emerges as the Biggest Growth Driver
Fintech platform PayU remained the largest contributor to Prosus India’s financial performance.
The company’s payments business generated $577 million in revenue during FY26, registering 10% year-on-year growth while delivering an EBITDA profit of $12 million.
One of the key factors behind improved profitability was the increasing contribution of high margin value added services (VAS) and Software-as-a-Service (SaaS) solutions, which accounted for 33% of total payments revenue.
PayU’s lending business also achieved an important milestone by becoming EBITDA profitable.
The company’s credit business generated $204 million in revenue, representing 19% year-on-year growth, while reporting an adjusted EBITDA profit of $6 million.
During the financial year, PayU issued $221 million in new loans, further strengthening its position in India’s rapidly expanding digital lending market.
PayU Continues Expanding Across India’s Digital Payments Ecosystem
Prosus highlighted PayU’s growing scale within India’s financial technology sector.
During FY26, the platform processed total payment volume (TPV) worth $90 billion, underlining its strong presence across digital commerce.
According to the company, PayU now accounts for approximately 25% of India’s online payments industry revenue.
Its lending business also manages approximately $682 million in assets under management (AUM).
Further strengthening its fintech capabilities, PayU increased its stake in banking payments technology company Mindgate to 70.7% during the year.
The acquisition is expected to deepen PayU’s technology infrastructure while supporting long-term expansion across digital payment services.
Prosus Strengthens Collaboration Across Portfolio Companies
Beyond standalone growth, Prosus has increasingly focused on creating synergies across its Indian portfolio.
According to the annual report, PayU now processes a significant share of credit card transactions for Swiggy while also supporting merchant and consumer lending initiatives for Meesho.
The partnership with Meesho enabled the origination of approximately $2.1 million in loans, helping sellers access working capital through integrated financial solutions.
PayU also processed $1.5 million in Unified Payments Interface (UPI) Gross Merchandise Value (GMV) for ixigo, while improving payment success rates across the travel platform.
In addition, the company handled approximately $5 million of Swiggy’s GMV, demonstrating the increasing integration of fintech capabilities across Prosus-backed businesses.
These collaborations highlight Prosus’ strategy of building an interconnected digital ecosystem rather than operating portfolio companies independently.
What Does This Mean for Prosus’ India Strategy?
India continues to remain one of Prosus’ largest and most strategically important global markets.
Beyond PayU, the company maintains investments in several leading technology startups, including Swiggy, Meesho, Urban Company, Rapido, BlueStone, and ixigo.
During FY26, Meesho, Urban Company, and BlueStone successfully completed their public listings, reflecting the maturity of Prosus’ investment portfolio.
Meanwhile, Prosus reduced its shareholding in Swiggy to 22.31% following the food delivery company’s IPO.
The transition of its India ecosystem into adjusted EBITDA profitability marks an important milestone for Prosus as it shifts from aggressive investment toward sustainable value creation.
With strong growth across fintech, digital commerce, mobility, and consumer technology, the company appears well positioned to benefit from India’s expanding digital economy while strengthening profitability across its portfolio.
